KOCT vs. OILK

Last updated Jun 4, 2026

KOCT (Innovator U.S. Small Cap Power Buffer ETF - October) and OILK (ProShares K-1 Free Crude Oil Strategy ETF) are both exchange-traded funds - KOCT is a Defined Outcome fund tracking the Russell 2000 Price Return Index, while OILK is a Oil & Gas fund tracking the Bloomberg Commodity Balanced WTI Crude Oil Index. Both are passively managed. Over the past 5 years, KOCT returned 6.48%/yr vs 17.73%/yr for OILK. At a 0.16 correlation, their price movements are largely independent. KOCT charges 0.79%/yr vs 0.68%/yr for OILK.

Performance

KOCT vs. OILK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KOCT achieves a 8.72% return, which is significantly lower than OILK's 64.22% return.

KOCT

• 1D: -0.31%
• 1M: 1.83%
• YTD: 8.72%
• 6M: 8.65%
• 1Y: 22.22%
• 3Y*: 11.49%
• 5Y*: 6.48%
• 10Y*: —

OILK

• 1D: 1.40%
• 1M: -1.65%
• YTD: 64.22%
• 6M: 60.70%
• 1Y: 58.99%
• 3Y*: 19.03%
• 5Y*: 17.73%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

KOCT vs. OILK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
KOCT Innovator U.S. Small Cap Power Buffer ETF - October	8.72%	10.14%	11.08%	9.02%	-7.87%	5.67%	2.57%	5.28%
OILK ProShares K-1 Free Crude Oil Strategy ETF	64.22%	-11.86%	8.18%	-0.97%	27.57%	63.71%	-61.09%	14.30%

Correlation

The correlation between KOCT and OILK is -0.25, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.01
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since Oct 2, 2019	0.16

The correlation between KOCT and OILK shifts across timeframes, from -0.25 (1 year) to 0.16 (all time), reflecting how their relationship changes across market environments.

KOCT vs. OILK - Sectors Allocation Comparison

Sectors	KOCT	OILK
Industrials	17.5%	-
Technology	16.9%	-
Healthcare	16.5%	-
Financial Services	15.9%	-
Consumer Cyclical	8.4%	100.0%
Real Estate	6.2%	-
Energy	6.2%	-
Basic Materials	4.8%	-
Utilities	2.9%	-
Communication Services	2.5%	-
Consumer Defensive	2.4%	-

Return for Risk

KOCT vs. OILK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

KOCT

KOCT Risk / Return Rank: 73
KOCT Sharpe Ratio Rank: 64
KOCT Sortino Ratio Rank: 72
KOCT Omega Ratio Rank: 63
KOCT Calmar Ratio Rank: 84
KOCT Martin Ratio Rank: 81

OILK

OILK Risk / Return Rank: 55
OILK Sharpe Ratio Rank: 60
OILK Sortino Ratio Rank: 53
OILK Omega Ratio Rank: 54
OILK Calmar Ratio Rank: 68
OILK Martin Ratio Rank: 42

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

KOCT vs. OILK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) and ProShares K-1 Free Crude Oil Strategy ETF (OILK). 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.

	KOCT	OILK	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.06	+0.07
Sortino ratio: Return per unit of downside risk	3.23	2.59	+0.64
Omega ratio: Gain probability vs. loss probability	1.38	1.34	+0.04
Calmar ratio: Return relative to maximum drawdown	4.50	3.42	+1.09
Martin ratio: Return relative to average drawdown	16.08	6.91	+9.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KOCT vs. OILK - Sharpe Ratio Comparison

The current KOCT Sharpe Ratio is 2.13, which is comparable to the OILK Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of KOCT and OILK, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KOCT	OILK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.06	+0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.59	-0.06
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.12	+0.33

Drawdowns

KOCT vs. OILK - Drawdown Comparison

The maximum KOCT drawdown since its inception was -28.22%, smaller than the maximum OILK drawdown of -83.76%. Use the drawdown chart below to compare losses from any high point for KOCT and OILK.

Drawdown Indicators

	KOCT	OILK	Difference
Max Drawdown Largest peak-to-trough decline	-28.22%	-83.76%	+55.54%
Max Drawdown (1Y) Largest decline over 1 year	-4.95%	-17.35%	+12.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.03%	-23.42%	+8.39%
Max Drawdown (5Y) Largest decline over 5 years	-16.63%	-34.69%	+18.06%
Current Drawdown Current decline from peak	-0.37%	-3.66%	+3.29%
Average Drawdown Average peak-to-trough decline	-4.24%	-32.61%	+28.37%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.39%	8.56%	-7.17%

Volatility

KOCT vs. OILK - Volatility Comparison

The current volatility for Innovator U.S. Small Cap Power Buffer ETF - October (KOCT) is 2.15%, while ProShares K-1 Free Crude Oil Strategy ETF (OILK) has a volatility of 10.44%. This indicates that KOCT experiences smaller price fluctuations and is considered to be less risky than OILK based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KOCT	OILK	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.15%	10.44%	-8.29%
Volatility (6M) Calculated over the trailing 6-month period	6.68%	23.26%	-16.58%
Volatility (1Y) Calculated over the trailing 1-year period	10.51%	28.75%	-18.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.25%	30.12%	-17.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.60%	35.97%	-21.37%

KOCT vs. OILK - Expense Ratio Comparison

KOCT has a 0.79% expense ratio, which is higher than OILK's 0.68% expense ratio.

Dividends

KOCT vs. OILK - Dividend Comparison

KOCT has not paid dividends to shareholders, while OILK's dividend yield for the trailing twelve months is around 8.18%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
KOCT Innovator U.S. Small Cap Power Buffer ETF - October	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.79%	0.00%	0.00%
OILK ProShares K-1 Free Crude Oil Strategy ETF	8.18%	4.79%	3.11%	5.80%	17.32%	68.82%	0.13%	0.94%	0.58%	6.17%

Frequently Asked Questions

Can I hold both KOCT and OILK in my portfolio?

KOCT and OILK have a correlation of -0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KOCT or OILK?

OILK has higher volatility (10.44%) compared to KOCT (2.15%). In terms of maximum drawdown, KOCT dropped -28.22% vs OILK's -83.76%.

Which ETF is better, KOCT or OILK?

On 5-year performance, OILK leads with 17.73% vs 6.48% for KOCT. On fees, OILK is cheaper at 0.68% per year. On volatility, KOCT has been the lower-risk option at 2.15%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, KOCT or OILK?

Over the 5-year period, OILK has performed better with a 17.73% return vs 6.48%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, KOCT or OILK?

OILK is cheaper with a 0.68% expense ratio, compared with 0.79% for KOCT.

Which ETF pays a higher dividend yield, KOCT or OILK?

OILK has the higher dividend yield at 8.18%, compared with 0.00% for KOCT.

What is the main difference between KOCT and OILK?

KOCT is categorized as Defined Outcome, while OILK is Oil & Gas. KOCT tracks Russell 2000 Price Return Index, while OILK tracks Bloomberg Commodity Balanced WTI Crude Oil Index. They also come from different issuers: Innovator and ProShares. Their fees differ too: 0.79% for KOCT and 0.68% for OILK.

Which has better risk-adjusted returns?

KOCT currently has the higher Sharpe Ratio (2.13 vs 2.06), 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.