NFEB vs. KAPR

Last updated Jun 4, 2026

NFEB (Innovator Growth-100 Power Buffer ETF - February) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds from Innovator - NFEB tracks the Invesco QQQ Trust, Series 1 while KAPR tracks the Russell 2000 Index. Both are passively managed. Over the past year, NFEB returned 19.88% vs 22.85% for KAPR. A 0.73 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

NFEB vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - February (NFEB) 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, NFEB achieves a 8.35% return, which is significantly lower than KAPR's 10.96% return.

NFEB

• 1D: -0.11%
• 1M: 2.79%
• YTD: 8.35%
• 6M: 9.25%
• 1Y: 19.88%
• 3Y*: —
• 5Y*: —
• 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)

NFEB vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025
NFEB Innovator Growth-100 Power Buffer ETF - February	8.35%	12.69%
KAPR Innovator Russell 2000 Power Buffer ETF - April	10.96%	6.48%

Correlation

The correlation between NFEB and KAPR is 0.69, 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	0.69
Correlation (All Time) Calculated using the full available price history since Feb 4, 2025	0.73

The correlation between NFEB and KAPR has been stable across timeframes, ranging from 0.69 to 0.73 - a consistent structural relationship.

Return for Risk

NFEB vs. KAPR — Risk / Return Rank

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

NFEB

NFEB Risk / Return Rank: 82
NFEB Sharpe Ratio Rank: 85
NFEB Sortino Ratio Rank: 87
NFEB Omega Ratio Rank: 89
NFEB Calmar Ratio Rank: 68
NFEB Martin Ratio Rank: 82

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.

NFEB vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - February (NFEB) 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.

	NFEB	KAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.77	3.53	-0.76
Sortino ratio: Return per unit of downside risk	3.93	5.56	-1.63
Omega ratio: Gain probability vs. loss probability	1.55	1.74	-0.18
Calmar ratio: Return relative to maximum drawdown	3.30	9.12	-5.82
Martin ratio: Return relative to average drawdown	16.20	43.03	-26.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NFEB vs. KAPR - Sharpe Ratio Comparison

The current NFEB Sharpe Ratio is 2.77, which is comparable to the KAPR Sharpe Ratio of 3.53. The chart below compares the historical Sharpe Ratios of NFEB 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

	NFEB	KAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.77	3.53	-0.76
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.36	0.83	+0.53

Drawdowns

NFEB vs. KAPR - Drawdown Comparison

The maximum NFEB drawdown since its inception was -13.27%, smaller than the maximum KAPR drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for NFEB and KAPR.

Drawdown Indicators

	NFEB	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-13.27%	-16.91%	+3.64%
Max Drawdown (1Y) Largest decline over 1 year	-6.05%	-2.52%	-3.53%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.91%	—
Current Drawdown Current decline from peak	-0.11%	-0.52%	+0.41%
Average Drawdown Average peak-to-trough decline	-1.53%	-3.92%	+2.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.23%	0.53%	+0.70%

Volatility

NFEB vs. KAPR - Volatility Comparison

The current volatility for Innovator Growth-100 Power Buffer ETF - February (NFEB) is 1.13%, while Innovator Russell 2000 Power Buffer ETF - April (KAPR) has a volatility of 2.30%. This indicates that NFEB experiences smaller price fluctuations and is considered to be less risky than KAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NFEB	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.13%	2.30%	-1.17%
Volatility (6M) Calculated over the trailing 6-month period	5.77%	4.06%	+1.71%
Volatility (1Y) Calculated over the trailing 1-year period	7.22%	6.54%	+0.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.95%	11.75%	+0.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.95%	11.63%	+0.32%

NFEB vs. KAPR - Expense Ratio Comparison

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

Dividends

NFEB vs. KAPR - Dividend Comparison

Neither NFEB nor KAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NFEB and KAPR in my portfolio?

NFEB and KAPR have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NFEB or KAPR?

KAPR has higher volatility (2.30%) compared to NFEB (1.13%). In terms of maximum drawdown, NFEB dropped -13.27% vs KAPR's -16.91%.

Which ETF is better, NFEB or KAPR?

On 1-year performance, KAPR leads with 22.85% vs 19.88% for NFEB. Both ETFs have the same 0.79% expense ratio. On volatility, NFEB has been the lower-risk option at 1.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NFEB or KAPR?

Over the 1-year period, KAPR has performed better with a 22.85% return vs 19.88%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NFEB or KAPR?

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

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

NFEB and KAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between NFEB and KAPR?

NFEB tracks Invesco QQQ Trust, Series 1, while KAPR tracks Russell 2000 Index.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.53 vs 2.77), 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.