OPER vs. EAPR
OPER (ClearShares Ultra-Short Maturity ETF) and EAPR (Innovator Emerging Markets Power Buffer ETF - April) are both exchange-traded funds - OPER is a Ultrashort Bond fund tracking the ICE BofA U.S. Broad Market Index, while EAPR is a Defined Outcome fund tracking the MSCI Emerging Markets. Both are passively managed. Over the past 5 years, OPER returned 3.76%/yr vs 5.46%/yr for EAPR. Their 0.02 correlation means their historical movements had little consistent relationship. OPER charges 0.20%/yr vs 0.89%/yr for EAPR.
Performance
OPER vs. EAPR - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, OPER achieves a 2.16% return, which is significantly lower than EAPR's 9.17% return.
OPER
- 1D
- 0.05%
- 1M
- 0.31%
- 6M
- 1.86%
- YTD
- 2.16%
- 1Y
- 3.94%
- 3Y*
- 4.71%
- 5Y*
- 3.76%
- 10Y*
- —
- ALL TIME*
- 2.81%
EAPR
- 1D
- 0.61%
- 1M
- 0.32%
- 6M
- 8.21%
- YTD
- 9.17%
- 1Y
- 15.75%
- 3Y*
- 8.62%
- 5Y*
- 5.46%
- 10Y*
- —
- ALL TIME*
- 4.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $354.30K | $262.28K | $462.78K | |
| $882.36K | $708.61K | $932.74K |
OPER vs. EAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
OPER ClearShares Ultra-Short Maturity ETF | 2.16% | 4.37% | 5.34% | 5.09% | 1.76% | 0.29% |
EAPR Innovator Emerging Markets Power Buffer ETF - April | 9.17% | 14.80% | 2.86% | 8.19% | -5.01% | -2.89% |
Correlation
The correlation between OPER and EAPR is -0.13, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.13 |
Correlation (3Y) Balances recent behavior with more history. | 0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.02 |
Correlation (All Time) Calculated using the full available price history since Apr 1, 2021 | 0.02 |
The correlation between OPER and EAPR shifts across timeframes, from -0.13 (1 year) to 0.02 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
OPER vs. EAPR — Risk / Return Rank
OPER
EAPR
OPER vs. EAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for ClearShares Ultra-Short Maturity ETF (OPER) and Innovator Emerging Markets Power Buffer ETF - April (EAPR). 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.
| OPER | EAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +13.21 | ||
| Sortino ratioReturn per unit of downside risk | +40.21 | ||
| Omega ratioGain probability vs. loss probability | 12.88 | 1.39 | +11.49 |
| Calmar ratioReturn relative to maximum drawdown | 59.84 | 2.90 | +56.94 |
| Martin ratioReturn relative to average drawdown | 505.14 | 12.34 | +492.80 |
Loading charts...
Drawdowns
OPER vs. EAPR - Drawdown Comparison
The maximum OPER drawdown since its inception was -2.33%, smaller than the maximum EAPR drawdown of -17.65%. Use the drawdown chart below to compare losses from any high point for OPER and EAPR.
Loading charts...
Drawdown Indicators
| OPER | EAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.33% | -17.65% | +15.32% |
Max Drawdown (1Y)Largest decline over 1 year | -0.07% | -5.28% | +5.21% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -10.24% | +10.13% |
Max Drawdown (5Y)Largest decline over 5 years | -0.13% | -16.34% | +16.21% |
Current DrawdownCurrent decline from peak | 0.00% | -2.78% | +2.78% |
Average DrawdownAverage peak-to-trough decline | -0.16% | -4.02% | +3.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.01% | 1.24% | -1.23% |
Volatility
OPER vs. EAPR - Volatility Comparison
The current volatility for ClearShares Ultra-Short Maturity ETF (OPER) is 0.07%, while Innovator Emerging Markets Power Buffer ETF - April (EAPR) has a volatility of 4.40%. This indicates that OPER experiences smaller price fluctuations and is considered to be less risky than EAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| OPER | EAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.07% | 4.40% | -4.33% |
Volatility (6M)Calculated over the trailing 6-month period | 0.20% | 9.26% | -9.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.27% | 9.63% | -9.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.32% | 10.41% | -10.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.22% | 10.30% | -9.08% |
OPER vs. EAPR - Expense Ratio Comparison
OPER has a 0.20% expense ratio, which is lower than EAPR's 0.89% expense ratio.
Dividends
OPER vs. EAPR - Dividend Comparison
OPER's dividend yield for the trailing twelve months is around 3.98%, while EAPR has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
EAPR Innovator Emerging Markets Power Buffer ETF - April | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
OPER ClearShares Ultra-Short Maturity ETF | 3.98% | 4.32% | 5.21% | 5.03% | 1.71% | 0.36% | 0.64% | 2.08% | 0.89% |
Frequently Asked Questions
OPER and EAPR have a correlation of -0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EAPR has higher volatility (4.40%) compared to OPER (0.07%). In terms of maximum drawdown, OPER dropped -2.33% vs EAPR's -17.65%.
On 5-year performance, EAPR leads with 5.46% vs 3.76% for OPER. On fees, OPER is cheaper at 0.20% per year. On volatility, OPER has been the lower-risk option at 0.07%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, EAPR has performed better with a 5.46% return vs 3.76%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
OPER is cheaper with a 0.20% expense ratio, compared with 0.89% for EAPR.
OPER has the higher dividend yield at 3.98%, compared with 0.00% for EAPR.
OPER is categorized as Ultrashort Bond, while EAPR is Defined Outcome. OPER tracks ICE BofA U.S. Broad Market Index, while EAPR tracks MSCI Emerging Markets. They also come from different issuers: ClearShares and Innovator. Their fees differ too: 0.20% for OPER and 0.89% for EAPR.
OPER currently has the higher Sharpe Ratio (14.80 vs 1.59), 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.
Find the right allocation for OPER and EAPR
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer