KSEP vs. DBE
KSEP (Innovator U.S. Small Cap Power Buffer ETF - September) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - KSEP is a Defined Outcome fund actively managed by Innovator, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. KSEP is actively managed, while DBE is passively managed. Over the past year, KSEP returned 20.63% vs 84.41% for DBE. At a correlation of -0.10, they often move in opposite directions. KSEP charges 0.79%/yr vs 0.78%/yr for DBE.
Performance
KSEP vs. DBE - Performance Comparison
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Returns By Period
In the year-to-date period, KSEP achieves a 8.77% return, which is significantly lower than DBE's 83.68% return.
KSEP
- 1D
- -0.28%
- 1M
- 1.76%
- YTD
- 8.77%
- 6M
- 8.72%
- 1Y
- 20.63%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DBE
- 1D
- 2.33%
- 1M
- -5.45%
- YTD
- 83.68%
- 6M
- 74.95%
- 1Y
- 84.41%
- 3Y*
- 23.42%
- 5Y*
- 19.66%
- 10Y*
- 12.03%
KSEP vs. DBE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
KSEP Innovator U.S. Small Cap Power Buffer ETF - September | 8.77% | 8.54% | 3.08% |
DBE Invesco DB Energy Fund | 83.68% | -2.17% | 5.70% |
Correlation
The correlation between KSEP and DBE is -0.26, 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 | -0.26 |
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024 | -0.10 |
The correlation between KSEP and DBE shifts across timeframes, from -0.26 (1 year) to -0.10 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
KSEP vs. DBE — Risk / Return Rank
KSEP
DBE
KSEP vs. DBE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) and Invesco DB Energy Fund (DBE). 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.
| KSEP | DBE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | +0.14 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.40 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 4.36 | 5.89 | -1.53 |
| Martin ratioReturn relative to average drawdown | 15.77 | 11.53 | +4.24 |
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
| KSEP | DBE | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.04 | 2.43 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.67 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.43 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.03 | 0.09 | +0.93 |
Drawdowns
KSEP vs. DBE - Drawdown Comparison
The maximum KSEP drawdown since its inception was -14.92%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for KSEP and DBE.
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Drawdown Indicators
| KSEP | DBE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.92% | -86.69% | +71.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.75% | -14.41% | +9.66% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.89% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -38.74% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -60.84% | — |
Current DrawdownCurrent decline from peak | -0.28% | -30.27% | +29.99% |
Average DrawdownAverage peak-to-trough decline | -2.45% | -57.31% | +54.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.31% | 7.35% | -6.04% |
Volatility
KSEP vs. DBE - Volatility Comparison
The current volatility for Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) is 1.63%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that KSEP experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| KSEP | DBE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.63% | 12.95% | -11.32% |
Volatility (6M)Calculated over the trailing 6-month period | 6.27% | 30.86% | -24.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.16% | 34.97% | -24.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.65% | 29.39% | -17.74% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.65% | 28.33% | -16.68% |
KSEP vs. DBE - Expense Ratio Comparison
KSEP has a 0.79% expense ratio, which is higher than DBE's 0.78% expense ratio.
Dividends
KSEP vs. DBE - Dividend Comparison
KSEP has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.10%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
DBE Invesco DB Energy Fund | 2.10% | 3.86% | 6.32% | 3.87% | 0.75% | 0.00% | 0.00% | 1.79% | 1.67% |
KSEP Innovator U.S. Small Cap Power Buffer ETF - September | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
KSEP and DBE have a correlation of -0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DBE has higher volatility (12.95%) compared to KSEP (1.63%). In terms of maximum drawdown, KSEP dropped -14.92% vs DBE's -86.69%.
On 1-year performance, DBE leads with 84.41% vs 20.63% for KSEP. On fees, DBE is cheaper at 0.78% per year. On volatility, KSEP has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DBE has performed better with a 84.41% return vs 20.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DBE is cheaper with a 0.78% expense ratio, compared with 0.79% for KSEP.
DBE has the higher dividend yield at 2.10%, compared with 0.00% for KSEP.
KSEP is categorized as Defined Outcome, while DBE is Oil & Gas. They also come from different issuers: Innovator and Invesco. Their fees differ too: 0.79% for KSEP and 0.78% for DBE.
DBE currently has the higher Sharpe Ratio (2.43 vs 2.04), 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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