KMAY vs. TDTF
KMAY (Innovator U.S. Small Cap Power Buffer ETF - May) and TDTF (FlexShares iBoxx 5-Year Target Duration TIPS Index Fund) are both exchange-traded funds - KMAY is a Defined Outcome fund actively managed by Innovator, while TDTF is a Inflation-Protected Bonds fund tracking the iBoxx 5-Year Target Duration TIPS. KMAY is actively managed, while TDTF is passively managed. Over the past year, KMAY returned 15.29% vs 5.07% for TDTF. At a 0.08 correlation, their price movements are largely independent. KMAY charges 0.79%/yr vs 0.18%/yr for TDTF.
Performance
KMAY vs. TDTF - Performance Comparison
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Returns By Period
In the year-to-date period, KMAY achieves a 4.86% return, which is significantly higher than TDTF's 1.52% return.
KMAY
- 1D
- -0.66%
- 1M
- 1.80%
- YTD
- 4.86%
- 6M
- 5.68%
- 1Y
- 15.29%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TDTF
- 1D
- -0.13%
- 1M
- -0.44%
- YTD
- 1.52%
- 6M
- 1.18%
- 1Y
- 5.07%
- 3Y*
- 4.56%
- 5Y*
- 1.72%
- 10Y*
- 2.93%
KMAY vs. TDTF - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
KMAY Innovator U.S. Small Cap Power Buffer ETF - May | 4.86% | 13.83% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 1.52% | 3.08% |
Correlation
The correlation between KMAY and TDTF is 0.10, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.10 |
Correlation (All Time) Calculated using the full available price history since May 2, 2025 | 0.08 |
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Return for Risk
KMAY vs. TDTF — Risk / Return Rank
KMAY
TDTF
KMAY vs. TDTF - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) and FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| KMAY | TDTF | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.28 | ||
| Omega ratioGain probability vs. loss probability | 1.51 | 1.30 | +0.21 |
| Calmar ratioReturn relative to maximum drawdown | 6.46 | 3.22 | +3.24 |
| Martin ratioReturn relative to average drawdown | 27.25 | 10.66 | +16.58 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| KMAY | TDTF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.51 | 1.67 | +0.84 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.30 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.58 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.68 | 0.47 | +2.20 |
Drawdowns
KMAY vs. TDTF - Drawdown Comparison
The maximum KMAY drawdown since its inception was -2.38%, smaller than the maximum TDTF drawdown of -12.02%. Use the drawdown chart below to compare losses from any high point for KMAY and TDTF.
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Drawdown Indicators
| KMAY | TDTF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.38% | -12.02% | +9.64% |
Max Drawdown (1Y)Largest decline over 1 year | -2.38% | -1.58% | -0.80% |
Max Drawdown (3Y)Largest decline over 3 years | — | -3.79% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -12.02% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -12.02% | — |
Current DrawdownCurrent decline from peak | -0.69% | -0.57% | -0.12% |
Average DrawdownAverage peak-to-trough decline | -0.35% | -2.91% | +2.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.56% | 0.48% | +0.08% |
Volatility
KMAY vs. TDTF - Volatility Comparison
Innovator U.S. Small Cap Power Buffer ETF - May (KMAY) has a higher volatility of 2.89% compared to FlexShares iBoxx 5-Year Target Duration TIPS Index Fund (TDTF) at 0.73%. This indicates that KMAY's price experiences larger fluctuations and is considered to be riskier than TDTF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KMAY | TDTF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.89% | 0.73% | +2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 3.99% | 1.97% | +2.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.16% | 3.06% | +3.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.65% | 5.69% | +0.96% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.65% | 5.07% | +1.58% |
KMAY vs. TDTF - Expense Ratio Comparison
KMAY has a 0.79% expense ratio, which is higher than TDTF's 0.18% expense ratio.
Dividends
KMAY vs. TDTF - Dividend Comparison
KMAY has not paid dividends to shareholders, while TDTF's dividend yield for the trailing twelve months is around 4.71%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
KMAY Innovator U.S. Small Cap Power Buffer ETF - May | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TDTF FlexShares iBoxx 5-Year Target Duration TIPS Index Fund | 4.71% | 4.58% | 3.98% | 3.97% | 7.60% | 4.55% | 1.13% | 1.80% | 2.60% | 2.20% | 1.51% | 0.21% |
Frequently Asked Questions
KMAY and TDTF have a correlation of 0.10, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
KMAY has higher volatility (2.89%) compared to TDTF (0.73%). In terms of maximum drawdown, KMAY dropped -2.38% vs TDTF's -12.02%.
On 1-year performance, KMAY leads with 15.29% vs 5.07% for TDTF. On fees, TDTF is cheaper at 0.18% per year. On volatility, TDTF has been the lower-risk option at 0.73%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, KMAY has performed better with a 15.29% return vs 5.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
TDTF is cheaper with a 0.18% expense ratio, compared with 0.79% for KMAY.
TDTF has the higher dividend yield at 4.71%, compared with 0.00% for KMAY.
KMAY is categorized as Defined Outcome, while TDTF is Inflation-Protected Bonds. They also come from different issuers: Innovator and Northern Trust. Their fees differ too: 0.79% for KMAY and 0.18% for TDTF.
KMAY currently has the higher Sharpe Ratio (2.51 vs 1.67), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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