SAUG vs. KPRO

Last updated Jun 24, 2026

SAUG (FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August) and KPRO (KraneShares 100% KWEB Defined Outcome January 2026 ETF) are both Options Trading funds. Both are actively managed. Over the past year, SAUG returned 19.55% vs -4.43% for KPRO. At a 0.33 correlation, their price movements are largely independent. SAUG charges 0.90%/yr vs 0.95%/yr for KPRO.

Performance

SAUG vs. KPRO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) and KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SAUG achieves a 8.49% return, which is significantly higher than KPRO's -6.19% return.

SAUG

• 1D: -0.15%
• 1M: 1.22%
• YTD: 8.49%
• 6M: 7.47%
• 1Y: 19.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KPRO

• 1D: -0.11%
• 1M: -1.22%
• YTD: -6.19%
• 6M: -11.82%
• 1Y: -4.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SAUG vs. KPRO - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SAUG FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August	8.49%	8.23%	13.27%
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	-6.19%	7.79%	11.98%

Correlation

The correlation between SAUG and KPRO is 0.34, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.34
Correlation (All Time) Calculated using the full available price history since Feb 8, 2024	0.33

Return for Risk

SAUG vs. KPRO — Risk / Return Rank

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

SAUG

SAUG Risk / Return Rank: 79
SAUG Sharpe Ratio Rank: 70
SAUG Sortino Ratio Rank: 78
SAUG Omega Ratio Rank: 74
SAUG Calmar Ratio Rank: 88
SAUG Martin Ratio Rank: 84

KPRO

KPRO Risk / Return Rank: 5
KPRO Sharpe Ratio Rank: 5
KPRO Sortino Ratio Rank: 5
KPRO Omega Ratio Rank: 4
KPRO Calmar Ratio Rank: 6
KPRO Martin Ratio Rank: 6

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.

SAUG vs. KPRO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) and KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO). 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.

	SAUG	KPRO	Difference
Sharpe ratio: Return per unit of total volatility	2.07	-0.50	+2.58
Sortino ratio: Return per unit of downside risk	3.16	-0.56	+3.71
Omega ratio: Gain probability vs. loss probability	1.40	0.90	+0.49
Calmar ratio: Return relative to maximum drawdown	4.79	-0.34	+5.14
Martin ratio: Return relative to average drawdown	15.75	-0.67	+16.42

SAUG vs. KPRO - Sharpe Ratio Comparison

The current SAUG Sharpe Ratio is 2.07, which is higher than the KPRO Sharpe Ratio of -0.50. The chart below compares the historical Sharpe Ratios of SAUG and KPRO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

SAUG vs. KPRO - Drawdown Comparison

The maximum SAUG drawdown since its inception was -14.62%, which is greater than KPRO's maximum drawdown of -12.91%. Use the drawdown chart below to compare losses from any high point for SAUG and KPRO.

Drawdown Indicators

	SAUG	KPRO	Difference
Max Drawdown Largest peak-to-trough decline	-14.62%	-12.91%	-1.71%
Max Drawdown (1Y) Largest decline over 1 year	-4.10%	-12.91%	+8.81%
Current Drawdown Current decline from peak	-0.15%	-12.91%	+12.76%
Average Drawdown Average peak-to-trough decline	-2.21%	-2.61%	+0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.24%	6.63%	-5.39%

Volatility

SAUG vs. KPRO - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August (SAUG) is 1.35%, while KraneShares 100% KWEB Defined Outcome January 2026 ETF (KPRO) has a volatility of 1.52%. This indicates that SAUG experiences smaller price fluctuations and is considered to be less risky than KPRO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SAUG	KPRO	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	1.52%	-0.17%
Volatility (6M) Calculated over the trailing 6-month period	5.39%	7.82%	-2.43%
Volatility (1Y) Calculated over the trailing 1-year period	9.48%	8.86%	+0.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.72%	7.77%	+3.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.72%	7.77%	+3.95%

SAUG vs. KPRO - Expense Ratio Comparison

SAUG has a 0.90% expense ratio, which is lower than KPRO's 0.95% expense ratio.

Dividends

SAUG vs. KPRO - Dividend Comparison

SAUG has not paid dividends to shareholders, while KPRO's dividend yield for the trailing twelve months is around 2.83%.

Position	TTM	2025	2024
KPRO KraneShares 100% KWEB Defined Outcome January 2026 ETF	2.83%	2.65%	3.70%
SAUG FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - August	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SAUG and KPRO in my portfolio?

SAUG and KPRO have a correlation of 0.34, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SAUG or KPRO?

KPRO has higher volatility (1.52%) compared to SAUG (1.35%). In terms of maximum drawdown, SAUG dropped -14.62% vs KPRO's -12.91%.

Which ETF is better, SAUG or KPRO?

On 1-year performance, SAUG leads with 19.55% vs -4.43% for KPRO. On fees, SAUG is cheaper at 0.90% per year. On volatility, SAUG has been the lower-risk option at 1.35%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SAUG or KPRO?

Over the 1-year period, SAUG has performed better with a 19.55% return vs -4.43%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SAUG or KPRO?

SAUG is cheaper with a 0.90% expense ratio, compared with 0.95% for KPRO.

Which ETF pays a higher dividend yield, SAUG or KPRO?

KPRO has the higher dividend yield at 2.83%, compared with 0.00% for SAUG.

What is the main difference between SAUG and KPRO?

They also come from different issuers: FT Vest and KraneShares. Their fees differ too: 0.90% for SAUG and 0.95% for KPRO.

Which has better risk-adjusted returns?

SAUG currently has the higher Sharpe Ratio (2.07 vs -0.50), 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.