OCTZ vs. KSEP

Last updated Jun 4, 2026

OCTZ (TrueShares Structured Outcome (October) ETF) and KSEP (Innovator U.S. Small Cap Power Buffer ETF - September) are both Defined Outcome funds. Both are actively managed. Over the past year, OCTZ returned 20.60% vs 20.63% for KSEP. A 0.78 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

OCTZ vs. KSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (October) ETF (OCTZ) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OCTZ achieves a 8.27% return, which is significantly lower than KSEP's 8.77% return.

OCTZ

• 1D: -0.44%
• 1M: 4.25%
• YTD: 8.27%
• 6M: 8.27%
• 1Y: 20.60%
• 3Y*: 16.44%
• 5Y*: 11.10%
• 10Y*: —

KSEP

• 1D: -0.28%
• 1M: 1.76%
• YTD: 8.77%
• 6M: 8.72%
• 1Y: 20.63%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

OCTZ vs. KSEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
OCTZ TrueShares Structured Outcome (October) ETF	8.27%	12.89%	5.10%
KSEP Innovator U.S. Small Cap Power Buffer ETF - September	8.77%	8.54%	3.08%

Correlation

The correlation between OCTZ and KSEP is 0.75, 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	0.75
Correlation (All Time) Calculated using the full available price history since Sep 4, 2024	0.78

The correlation between OCTZ and KSEP has been stable across timeframes, ranging from 0.75 to 0.78 - a consistent structural relationship.

Return for Risk

OCTZ vs. KSEP — Risk / Return Rank

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

OCTZ

OCTZ Risk / Return Rank: 65
OCTZ Sharpe Ratio Rank: 67
OCTZ Sortino Ratio Rank: 67
OCTZ Omega Ratio Rank: 66
OCTZ Calmar Ratio Rank: 58
OCTZ Martin Ratio Rank: 66

KSEP

KSEP Risk / Return Rank: 71
KSEP Sharpe Ratio Rank: 62
KSEP Sortino Ratio Rank: 69
KSEP Omega Ratio Rank: 63
KSEP Calmar Ratio Rank: 83
KSEP Martin Ratio Rank: 81

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.

OCTZ vs. KSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (October) ETF (OCTZ) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP). 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.

	OCTZ	KSEP	Difference
Sharpe ratio: Return per unit of total volatility	2.21	2.04	+0.16
Sortino ratio: Return per unit of downside risk	3.08	3.10	-0.02
Omega ratio: Gain probability vs. loss probability	1.40	1.37	+0.02
Calmar ratio: Return relative to maximum drawdown	2.83	4.36	-1.53
Martin ratio: Return relative to average drawdown	12.00	15.77	-3.76
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OCTZ vs. KSEP - Sharpe Ratio Comparison

The current OCTZ Sharpe Ratio is 2.21, which is comparable to the KSEP Sharpe Ratio of 2.04. The chart below compares the historical Sharpe Ratios of OCTZ and KSEP, 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

	OCTZ	KSEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.21	2.04	+0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.90	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.03	+0.04

Drawdowns

OCTZ vs. KSEP - Drawdown Comparison

The maximum OCTZ drawdown since its inception was -15.82%, which is greater than KSEP's maximum drawdown of -14.92%. Use the drawdown chart below to compare losses from any high point for OCTZ and KSEP.

Drawdown Indicators

	OCTZ	KSEP	Difference
Max Drawdown Largest peak-to-trough decline	-15.82%	-14.92%	-0.90%
Max Drawdown (1Y) Largest decline over 1 year	-7.31%	-4.75%	-2.56%
Max Drawdown (3Y) Largest decline over 3 years	-14.07%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.82%	—	—
Current Drawdown Current decline from peak	-0.44%	-0.28%	-0.16%
Average Drawdown Average peak-to-trough decline	-3.16%	-2.45%	-0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.31%	+0.41%

Volatility

OCTZ vs. KSEP - Volatility Comparison

TrueShares Structured Outcome (October) ETF (OCTZ) has a higher volatility of 2.47% compared to Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) at 1.63%. This indicates that OCTZ's price experiences larger fluctuations and is considered to be riskier than KSEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OCTZ	KSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	1.63%	+0.84%
Volatility (6M) Calculated over the trailing 6-month period	7.26%	6.27%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	10.16%	-0.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.40%	11.65%	+0.75%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.37%	11.65%	+0.72%

OCTZ vs. KSEP - Expense Ratio Comparison

Both OCTZ and KSEP have an expense ratio of 0.79%.

Dividends

OCTZ vs. KSEP - Dividend Comparison

OCTZ's dividend yield for the trailing twelve months is around 3.69%, while KSEP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
KSEP Innovator U.S. Small Cap Power Buffer ETF - September	0.00%	0.00%	0.00%	0.00%	0.00%
OCTZ TrueShares Structured Outcome (October) ETF	3.69%	3.99%	1.26%	3.28%	0.67%

Frequently Asked Questions

Can I hold both OCTZ and KSEP in my portfolio?

OCTZ and KSEP have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OCTZ or KSEP?

OCTZ has higher volatility (2.47%) compared to KSEP (1.63%). In terms of maximum drawdown, OCTZ dropped -15.82% vs KSEP's -14.92%.

Which ETF is better, OCTZ or KSEP?

On 1-year performance, KSEP leads with 20.63% vs 20.60% for OCTZ. Both ETFs have the same 0.79% expense ratio. On volatility, KSEP has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, OCTZ or KSEP?

Over the 1-year period, KSEP has performed better with a 20.63% return vs 20.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, OCTZ or KSEP?

OCTZ and KSEP have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, OCTZ or KSEP?

OCTZ has the higher dividend yield at 3.69%, compared with 0.00% for KSEP.

What is the main difference between OCTZ and KSEP?

They also come from different issuers: TrueShares and Innovator.

Which has better risk-adjusted returns?

OCTZ currently has the higher Sharpe Ratio (2.21 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.