OCTB vs. ZNOV
OCTB (Aptus October Buffer ETF) and ZNOV (Innovator Equity Defined Protection ETF - 1 Yr November) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.81 suggests significant overlap in exposure. OCTB charges 0.25%/yr vs 0.79%/yr for ZNOV.
Performance
OCTB vs. ZNOV - Performance Comparison
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Returns By Period
In the year-to-date period, OCTB achieves a 6.11% return, which is significantly higher than ZNOV's 2.72% return.
OCTB
- 1D
- -0.15%
- 1M
- 0.56%
- YTD
- 6.11%
- 6M
- 6.02%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZNOV
- 1D
- -0.16%
- 1M
- 0.29%
- YTD
- 2.72%
- 6M
- 2.76%
- 1Y
- 7.01%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OCTB vs. ZNOV - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
OCTB Aptus October Buffer ETF | 6.11% | 2.37% |
ZNOV Innovator Equity Defined Protection ETF - 1 Yr November | 2.72% | 0.91% |
Correlation
The correlation between OCTB and ZNOV is 0.81, 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 14, 2025 | 0.81 |
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Return for Risk
OCTB vs. ZNOV — Risk / Return Rank
OCTB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZNOV
OCTB vs. ZNOV - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Aptus October Buffer ETF (OCTB) and Innovator Equity Defined Protection ETF - 1 Yr November (ZNOV). 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.
| OCTB | ZNOV | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.53 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.30 | — |
| Martin ratioReturn relative to average drawdown | — | 19.92 | — |
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Drawdowns
OCTB vs. ZNOV - Drawdown Comparison
The maximum OCTB drawdown since its inception was -4.79%, which is greater than ZNOV's maximum drawdown of -3.31%. Use the drawdown chart below to compare losses from any high point for OCTB and ZNOV.
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Drawdown Indicators
| OCTB | ZNOV | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.79% | -3.31% | -1.48% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.64% | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.16% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.69% | -0.36% | -0.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.35% | — |
Volatility
OCTB vs. ZNOV - Volatility Comparison
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Volatility by Period
| OCTB | ZNOV | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.84% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.01% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.24% | 2.72% | +4.52% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.24% | 3.36% | +3.88% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.24% | 3.36% | +3.88% |
OCTB vs. ZNOV - Expense Ratio Comparison
OCTB has a 0.25% expense ratio, which is lower than ZNOV's 0.79% expense ratio.
Dividends
OCTB vs. ZNOV - Dividend Comparison
Neither OCTB nor ZNOV has paid dividends to shareholders.
Frequently Asked Questions
OCTB and ZNOV have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OCTB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OCTB is cheaper with a 0.25% expense ratio, compared with 0.79% for ZNOV.
OCTB and ZNOV have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Aptus Capital Advisors and Innovator. Their fees differ too: 0.25% for OCTB and 0.79% for ZNOV.
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