KSEP vs. OCTB

Last updated Jun 4, 2026

KSEP (Innovator U.S. Small Cap Power Buffer ETF - September) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. A 0.79 correlation means they provide meaningful diversification when combined. KSEP charges 0.79%/yr vs 0.25%/yr for OCTB.

Performance

KSEP vs. OCTB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) and Aptus October Buffer ETF (OCTB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KSEP achieves a 8.77% return, which is significantly higher than OCTB's 6.18% return.

KSEP

• 1D: -0.28%
• 1M: 1.76%
• YTD: 8.77%
• 6M: 8.72%
• 1Y: 20.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

OCTB

• 1D: -0.17%
• 1M: 2.41%
• YTD: 6.18%
• 6M: 6.75%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

KSEP vs. OCTB - Yearly Performance Comparison

	2026 (YTD)	2025
KSEP Innovator U.S. Small Cap Power Buffer ETF - September	8.77%	0.73%
OCTB Aptus October Buffer ETF	6.18%	2.37%

Correlation

The correlation between KSEP and OCTB is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.79

Return for Risk

KSEP vs. OCTB — Risk / Return Rank

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

KSEP

KSEP Risk / Return Rank: 71
KSEP Sharpe Ratio Rank: 62
KSEP Sortino Ratio Rank: 69
KSEP Omega Ratio Rank: 63
KSEP Calmar Ratio Rank: 83
KSEP Martin Ratio Rank: 81

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.

KSEP vs. OCTB - 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 Aptus October Buffer ETF (OCTB). 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	OCTB	Difference
Sharpe ratio: Return per unit of total volatility	2.04	—	—
Sortino ratio: Return per unit of downside risk	3.10	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	4.36	—	—
Martin ratio: Return relative to average drawdown	15.77	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	KSEP	OCTB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.04	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.03	1.97	-0.94

Drawdowns

KSEP vs. OCTB - Drawdown Comparison

The maximum KSEP drawdown since its inception was -14.92%, which is greater than OCTB's maximum drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for KSEP and OCTB.

Drawdown Indicators

	KSEP	OCTB	Difference
Max Drawdown Largest peak-to-trough decline	-14.92%	-4.79%	-10.13%
Max Drawdown (1Y) Largest decline over 1 year	-4.75%	—	—
Current Drawdown Current decline from peak	-0.28%	-0.17%	-0.11%
Average Drawdown Average peak-to-trough decline	-2.45%	-0.70%	-1.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.31%	—	—

Volatility

Volatility by Period

	KSEP	OCTB	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.63%	—	—
Volatility (6M) Calculated over the trailing 6-month period	6.27%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	10.16%	7.20%	+2.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.65%	7.20%	+4.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.65%	7.20%	+4.45%

KSEP vs. OCTB - Expense Ratio Comparison

KSEP has a 0.79% expense ratio, which is higher than OCTB's 0.25% expense ratio.

Dividends

KSEP vs. OCTB - Dividend Comparison

Neither KSEP nor OCTB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both KSEP and OCTB in my portfolio?

KSEP and OCTB have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, KSEP or OCTB?

On fees, OCTB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, KSEP or OCTB?

OCTB is cheaper with a 0.25% expense ratio, compared with 0.79% for KSEP.

Which ETF pays a higher dividend yield, KSEP or OCTB?

KSEP and OCTB have nearly identical dividend yields, around 0.00%.

What is the main difference between KSEP and OCTB?

They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.79% for KSEP and 0.25% for OCTB.