NSEP vs. APRB

Last updated Jun 4, 2026

NSEP (Innovator Growth-100 Power Buffer ETF - September) and APRB (Aptus April Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.89 suggests significant overlap in exposure. NSEP charges 0.79%/yr vs 0.25%/yr for APRB.

Performance

NSEP vs. APRB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Growth-100 Power Buffer ETF - September (NSEP) and Aptus April Buffer ETF (APRB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NSEP achieves a 6.61% return, which is significantly higher than APRB's 4.77% return.

NSEP

• 1D: 0.00%
• 1M: 1.85%
• YTD: 6.61%
• 6M: 6.79%
• 1Y: 16.89%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APRB

• 1D: -0.11%
• 1M: 1.69%
• YTD: 4.77%
• 6M: 5.32%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

NSEP vs. APRB - Yearly Performance Comparison

	2026 (YTD)	2025
NSEP Innovator Growth-100 Power Buffer ETF - September	6.61%	2.23%
APRB Aptus April Buffer ETF	4.77%	2.48%

Correlation

The correlation between NSEP and APRB is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 15, 2025	0.89

Return for Risk

NSEP vs. APRB — Risk / Return Rank

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

NSEP

NSEP Risk / Return Rank: 80
NSEP Sharpe Ratio Rank: 78
NSEP Sortino Ratio Rank: 80
NSEP Omega Ratio Rank: 85
NSEP Calmar Ratio Rank: 74
NSEP Martin Ratio Rank: 85

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.

NSEP vs. APRB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Growth-100 Power Buffer ETF - September (NSEP) and Aptus April Buffer ETF (APRB). 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.

	NSEP	APRB	Difference
Sharpe ratio: Return per unit of total volatility	2.51	—	—
Sortino ratio: Return per unit of downside risk	3.53	—	—
Omega ratio: Gain probability vs. loss probability	1.51	—	—
Calmar ratio: Return relative to maximum drawdown	3.64	—	—
Martin ratio: Return relative to average drawdown	17.58	—	—
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

	NSEP	APRB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.51	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.50	2.00	-0.51

Drawdowns

NSEP vs. APRB - Drawdown Comparison

The maximum NSEP drawdown since its inception was -12.31%, which is greater than APRB's maximum drawdown of -4.59%. Use the drawdown chart below to compare losses from any high point for NSEP and APRB.

Drawdown Indicators

	NSEP	APRB	Difference
Max Drawdown Largest peak-to-trough decline	-12.31%	-4.59%	-7.72%
Max Drawdown (1Y) Largest decline over 1 year	-4.66%	—	—
Current Drawdown Current decline from peak	-0.06%	-0.11%	+0.05%
Average Drawdown Average peak-to-trough decline	-1.09%	-0.74%	-0.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	—	—

Volatility

Volatility by Period

	NSEP	APRB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.70%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.26%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.76%	5.98%	+0.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.47%	5.98%	+4.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.47%	5.98%	+4.49%

NSEP vs. APRB - Expense Ratio Comparison

NSEP has a 0.79% expense ratio, which is higher than APRB's 0.25% expense ratio.

Dividends

NSEP vs. APRB - Dividend Comparison

Neither NSEP nor APRB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both NSEP and APRB in my portfolio?

NSEP and APRB have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, NSEP or APRB?

On fees, APRB 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, NSEP or APRB?

APRB is cheaper with a 0.25% expense ratio, compared with 0.79% for NSEP.

Which ETF pays a higher dividend yield, NSEP or APRB?

NSEP and APRB have nearly identical dividend yields, around 0.00%.

What is the main difference between NSEP and APRB?

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