MAYZ vs. KAPR

Last updated Jun 4, 2026

MAYZ (TrueShares Structured Outcome (May) ETF) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds - MAYZ tracks the S&P 500 Price Index while KAPR tracks the Russell 2000 Index. Both are passively managed. Over the past 5 years, MAYZ returned 9.61%/yr vs 7.18%/yr for KAPR. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

MAYZ vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (May) ETF (MAYZ) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAYZ achieves a 8.56% return, which is significantly lower than KAPR's 10.96% return.

MAYZ

• 1D: -0.45%
• 1M: 4.24%
• YTD: 8.56%
• 6M: 8.43%
• 1Y: 21.69%
• 3Y*: 16.62%
• 5Y*: 9.61%
• 10Y*: —

KAPR

• 1D: -0.52%
• 1M: 1.70%
• YTD: 10.96%
• 6M: 11.76%
• 1Y: 22.85%
• 3Y*: 13.04%
• 5Y*: 7.18%
• 10Y*: —

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

MAYZ vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MAYZ TrueShares Structured Outcome (May) ETF	8.56%	13.70%	17.68%	15.90%	-13.98%	10.09%
KAPR Innovator Russell 2000 Power Buffer ETF - April	10.96%	7.42%	12.10%	15.36%	-8.14%	0.84%

Correlation

The correlation between MAYZ and KAPR is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since May 4, 2021	0.77

The correlation between MAYZ and KAPR has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.

MAYZ vs. KAPR - Sectors Allocation Comparison

Sectors	MAYZ	KAPR
Technology	35.3%	15.4%
Financial Services	13.4%	16.0%
Consumer Cyclical	10.6%	8.7%
Communication Services	9.9%	2.3%
Healthcare	8.8%	17.7%
Industrials	7.8%	16.6%
Consumer Defensive	5.2%	2.6%
Energy	3.0%	6.6%
Utilities	2.5%	3.0%
Real Estate	2.0%	6.3%
Basic Materials	1.6%	4.8%

Return for Risk

MAYZ vs. KAPR — Risk / Return Rank

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

MAYZ

MAYZ Risk / Return Rank: 62
MAYZ Sharpe Ratio Rank: 64
MAYZ Sortino Ratio Rank: 65
MAYZ Omega Ratio Rank: 64
MAYZ Calmar Ratio Rank: 51
MAYZ Martin Ratio Rank: 63

KAPR

KAPR Risk / Return Rank: 95
KAPR Sharpe Ratio Rank: 93
KAPR Sortino Ratio Rank: 96
KAPR Omega Ratio Rank: 95
KAPR Calmar Ratio Rank: 96
KAPR Martin Ratio Rank: 97

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.

MAYZ vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (May) ETF (MAYZ) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). 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.

	MAYZ	KAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.10	3.53	-1.43
Sortino ratio: Return per unit of downside risk	2.95	5.56	-2.61
Omega ratio: Gain probability vs. loss probability	1.38	1.74	-0.36
Calmar ratio: Return relative to maximum drawdown	2.49	9.12	-6.63
Martin ratio: Return relative to average drawdown	11.30	43.03	-31.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAYZ vs. KAPR - Sharpe Ratio Comparison

The current MAYZ Sharpe Ratio is 2.10, which is lower than the KAPR Sharpe Ratio of 3.53. The chart below compares the historical Sharpe Ratios of MAYZ and KAPR, 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

	MAYZ	KAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.10	3.53	-1.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	0.61	+0.19
Sharpe Ratio (All Time) Calculated using the full available price history	0.80	0.83	-0.03

Drawdowns

MAYZ vs. KAPR - Drawdown Comparison

The maximum MAYZ drawdown since its inception was -19.23%, which is greater than KAPR's maximum drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for MAYZ and KAPR.

Drawdown Indicators

	MAYZ	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-19.23%	-16.91%	-2.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.73%	-2.52%	-6.21%
Max Drawdown (3Y) Largest decline over 3 years	-13.88%	-16.84%	+2.96%
Max Drawdown (5Y) Largest decline over 5 years	-19.23%	-16.91%	-2.32%
Current Drawdown Current decline from peak	-0.45%	-0.52%	+0.07%
Average Drawdown Average peak-to-trough decline	-4.77%	-3.92%	-0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	0.53%	+1.39%

Volatility

MAYZ vs. KAPR - Volatility Comparison

TrueShares Structured Outcome (May) ETF (MAYZ) and Innovator Russell 2000 Power Buffer ETF - April (KAPR) have volatilities of 2.38% and 2.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAYZ	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.38%	2.30%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	8.28%	4.06%	+4.22%
Volatility (1Y) Calculated over the trailing 1-year period	10.37%	6.54%	+3.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.07%	11.75%	+0.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.04%	11.63%	+0.41%

MAYZ vs. KAPR - Expense Ratio Comparison

Both MAYZ and KAPR have an expense ratio of 0.79%.

Dividends

MAYZ vs. KAPR - Dividend Comparison

MAYZ's dividend yield for the trailing twelve months is around 1.98%, while KAPR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
KAPR Innovator Russell 2000 Power Buffer ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MAYZ TrueShares Structured Outcome (May) ETF	1.98%	2.15%	1.95%	2.75%	0.69%	1.90%

Frequently Asked Questions

Can I hold both MAYZ and KAPR in my portfolio?

MAYZ and KAPR have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAYZ or KAPR?

MAYZ has higher volatility (2.38%) compared to KAPR (2.30%). In terms of maximum drawdown, MAYZ dropped -19.23% vs KAPR's -16.91%.

Which ETF is better, MAYZ or KAPR?

On 5-year performance, MAYZ leads with 9.61% vs 7.18% for KAPR. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYZ or KAPR?

Over the 5-year period, MAYZ has performed better with a 9.61% return vs 7.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYZ or KAPR?

MAYZ and KAPR have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, MAYZ or KAPR?

MAYZ has the higher dividend yield at 1.98%, compared with 0.00% for KAPR.

What is the main difference between MAYZ and KAPR?

MAYZ tracks S&P 500 Price Index, while KAPR tracks Russell 2000 Index. They also come from different issuers: TrueShares and Innovator.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.53 vs 2.10), 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.