LAPR vs. USL
LAPR (Innovator Premium Income 15 Buffer ETF - April) and USL (United States 12 Month Oil Fund LP) are both exchange-traded funds - LAPR is a Options Trading fund actively managed by Innovator, while USL is a Oil & Gas fund tracking the 12 Month Light Sweet Crude Oil. LAPR is actively managed, while USL is passively managed. Over the past year, LAPR returned 7.01% vs 57.86% for USL. At a correlation of -0.03, they often move in opposite directions. LAPR charges 0.79%/yr vs 0.88%/yr for USL.
Performance
LAPR vs. USL - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, LAPR achieves a 3.32% return, which is significantly lower than USL's 63.07% return.
LAPR
- 1D
- -0.04%
- 1M
- 0.72%
- YTD
- 3.32%
- 6M
- 3.77%
- 1Y
- 7.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
USL
- 1D
- 1.55%
- 1M
- -1.61%
- YTD
- 63.07%
- 6M
- 59.66%
- 1Y
- 57.86%
- 3Y*
- 18.42%
- 5Y*
- 17.41%
- 10Y*
- 10.91%
LAPR vs. USL - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
LAPR Innovator Premium Income 15 Buffer ETF - April | 3.32% | 5.81% | 4.82% |
USL United States 12 Month Oil Fund LP | 63.07% | -12.37% | -5.21% |
Correlation
The correlation between LAPR and USL is -0.19, 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 | -0.19 |
Correlation (All Time) Calculated using the full available price history since Apr 2, 2024 | -0.03 |
The correlation between LAPR and USL shifts across timeframes, from -0.19 (1 year) to -0.03 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
LAPR vs. USL — Risk / Return Rank
LAPR
USL
LAPR vs. USL - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 15 Buffer ETF - April (LAPR) and United States 12 Month Oil Fund LP (USL). 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.
| LAPR | USL | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.54 | ||
| Sortino ratioReturn per unit of downside risk | +9.55 | ||
| Omega ratioGain probability vs. loss probability | 2.93 | 1.34 | +1.59 |
| Calmar ratioReturn relative to maximum drawdown | 29.36 | 3.47 | +25.89 |
| Martin ratioReturn relative to average drawdown | 144.96 | 7.02 | +137.94 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| LAPR | USL | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 5.58 | 2.04 | +3.54 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.58 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.34 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.97 | 0.01 | +1.96 |
Drawdowns
LAPR vs. USL - Drawdown Comparison
The maximum LAPR drawdown since its inception was -3.81%, smaller than the maximum USL drawdown of -89.06%. Use the drawdown chart below to compare losses from any high point for LAPR and USL.
Loading charts...
Drawdown Indicators
| LAPR | USL | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.81% | -89.06% | +85.25% |
Max Drawdown (1Y)Largest decline over 1 year | -0.24% | -16.76% | +16.52% |
Max Drawdown (3Y)Largest decline over 3 years | — | -23.33% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -33.82% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -66.02% | — |
Current DrawdownCurrent decline from peak | -0.12% | -38.16% | +38.04% |
Average DrawdownAverage peak-to-trough decline | -0.11% | -61.46% | +61.35% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 8.27% | -8.22% |
Volatility
LAPR vs. USL - Volatility Comparison
The current volatility for Innovator Premium Income 15 Buffer ETF - April (LAPR) is 0.32%, while United States 12 Month Oil Fund LP (USL) has a volatility of 10.53%. This indicates that LAPR experiences smaller price fluctuations and is considered to be less risky than USL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| LAPR | USL | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.32% | 10.53% | -10.21% |
Volatility (6M)Calculated over the trailing 6-month period | 1.00% | 23.33% | -22.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.27% | 28.54% | -27.27% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.30% | 30.08% | -26.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.30% | 32.35% | -29.05% |
LAPR vs. USL - Expense Ratio Comparison
LAPR has a 0.79% expense ratio, which is lower than USL's 0.88% expense ratio.
Dividends
LAPR vs. USL - Dividend Comparison
LAPR's dividend yield for the trailing twelve months is around 5.53%, while USL has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 |
|---|---|---|---|
LAPR Innovator Premium Income 15 Buffer ETF - April | 5.53% | 5.40% | 4.21% |
USL United States 12 Month Oil Fund LP | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
LAPR and USL have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USL has higher volatility (10.53%) compared to LAPR (0.32%). In terms of maximum drawdown, LAPR dropped -3.81% vs USL's -89.06%.
On 1-year performance, USL leads with 57.86% vs 7.01% for LAPR. On fees, LAPR is cheaper at 0.79% per year. On volatility, LAPR has been the lower-risk option at 0.32%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, USL has performed better with a 57.86% return vs 7.01%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
LAPR is cheaper with a 0.79% expense ratio, compared with 0.88% for USL.
LAPR has the higher dividend yield at 5.53%, compared with 0.00% for USL.
LAPR is categorized as Options Trading, while USL is Oil & Gas. They also come from different issuers: Innovator and Concierge Technologies. Their fees differ too: 0.79% for LAPR and 0.88% for USL.
LAPR currently has the higher Sharpe Ratio (5.58 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.
Find the right allocation for LAPR and USL
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer