LAPR vs. IVVB
LAPR (Innovator Premium Income 15 Buffer ETF - April) and IVVB (iShares Large Cap Deep Buffer ETF) are both Options Trading funds. Both are actively managed. Over the past year, LAPR returned 6.94% vs 13.57% for IVVB. A 0.67 correlation means they provide meaningful diversification when combined. LAPR charges 0.79%/yr vs 0.50%/yr for IVVB.
Performance
LAPR vs. IVVB - Performance Comparison
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Returns By Period
In the year-to-date period, LAPR achieves a 3.40% return, which is significantly lower than IVVB's 4.29% return.
LAPR
- 1D
- 0.08%
- 1M
- 0.24%
- YTD
- 3.40%
- 6M
- 3.51%
- 1Y
- 6.94%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
IVVB
- 1D
- -0.24%
- 1M
- 0.03%
- YTD
- 4.29%
- 6M
- 3.84%
- 1Y
- 13.57%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
LAPR vs. IVVB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LAPR Innovator Premium Income 15 Buffer ETF - April | 3.40% | 5.81% | 4.66% |
IVVB iShares Large Cap Deep Buffer ETF | 4.29% | 9.60% | 11.46% |
Correlation
The correlation between LAPR and IVVB is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.57 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2024 | 0.67 |
The correlation between LAPR and IVVB shifts across timeframes, from 0.57 (1 year) to 0.67 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
LAPR vs. IVVB — Risk / Return Rank
LAPR
IVVB
LAPR vs. IVVB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 15 Buffer ETF - April (LAPR) and iShares Large Cap Deep Buffer ETF (IVVB). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| LAPR | IVVB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.72 | ||
| Sortino ratioReturn per unit of downside risk | +9.51 | ||
| Omega ratioGain probability vs. loss probability | 2.87 | 1.35 | +1.52 |
| Calmar ratioReturn relative to maximum drawdown | 19.59 | 2.37 | +17.22 |
| Martin ratioReturn relative to average drawdown | 113.23 | 10.10 | +103.12 |
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Drawdowns
LAPR vs. IVVB - Drawdown Comparison
The maximum LAPR drawdown since its inception was -3.81%, smaller than the maximum IVVB drawdown of -13.08%. Use the drawdown chart below to compare losses from any high point for LAPR and IVVB.
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Drawdown Indicators
| LAPR | IVVB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.81% | -13.08% | +9.27% |
Max Drawdown (1Y)Largest decline over 1 year | -0.36% | -5.75% | +5.39% |
Current DrawdownCurrent decline from peak | -0.04% | -0.42% | +0.38% |
Average DrawdownAverage peak-to-trough decline | -0.12% | -1.59% | +1.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.06% | 1.35% | -1.29% |
Volatility
LAPR vs. IVVB - Volatility Comparison
The current volatility for Innovator Premium Income 15 Buffer ETF - April (LAPR) is 0.44%, while iShares Large Cap Deep Buffer ETF (IVVB) has a volatility of 1.68%. This indicates that LAPR experiences smaller price fluctuations and is considered to be less risky than IVVB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LAPR | IVVB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.44% | 1.68% | -1.24% |
Volatility (6M)Calculated over the trailing 6-month period | 1.05% | 5.49% | -4.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.25% | 7.39% | -6.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.27% | 9.25% | -5.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.27% | 9.25% | -5.98% |
LAPR vs. IVVB - Expense Ratio Comparison
LAPR has a 0.79% expense ratio, which is higher than IVVB's 0.50% expense ratio.
Dividends
LAPR vs. IVVB - Dividend Comparison
LAPR's dividend yield for the trailing twelve months is around 5.52%, more than IVVB's 1.17% yield.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
IVVB iShares Large Cap Deep Buffer ETF | 1.17% | 1.22% | 0.87% |
LAPR Innovator Premium Income 15 Buffer ETF - April | 5.52% | 5.40% | 4.21% |
Frequently Asked Questions
LAPR and IVVB have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
IVVB has higher volatility (1.68%) compared to LAPR (0.44%). In terms of maximum drawdown, LAPR dropped -3.81% vs IVVB's -13.08%.
On 1-year performance, IVVB leads with 13.57% vs 6.94% for LAPR. On fees, IVVB is cheaper at 0.50% per year. On volatility, LAPR has been the lower-risk option at 0.44%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, IVVB has performed better with a 13.57% return vs 6.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IVVB is cheaper with a 0.50% expense ratio, compared with 0.79% for LAPR.
LAPR has the higher dividend yield at 5.52%, compared with 1.17% for IVVB.
They also come from different issuers: Innovator and iShares. Their fees differ too: 0.79% for LAPR and 0.50% for IVVB.
LAPR currently has the higher Sharpe Ratio (5.57 vs 1.85), 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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