SEPZ vs. APRD

Last updated Apr 1, 2026

Compare and contrast key facts about TrueShares Structured Outcome (September) ETF (SEPZ) and Innovator Premium Income 10 Barrier ETF - April (APRD).

SEPZ and APRD are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. SEPZ is a passively managed fund by TrueShares that tracks the performance of the Cboe S&P 500 Buffer Protect Index September. It was launched on Aug 31, 2020. APRD is an actively managed fund by Innovator. It was launched on Mar 31, 2023.

Performance

SEPZ vs. APRD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TrueShares Structured Outcome (September) ETF (SEPZ) and Innovator Premium Income 10 Barrier ETF - April (APRD). The values are adjusted to include any dividend payments, if applicable.

SEPZ vs. APRD - Yearly Performance Comparison

	2026 (YTD)
SEPZ TrueShares Structured Outcome (September) ETF	-4.51%
APRD Innovator Premium Income 10 Barrier ETF - April	0.00%

Returns By Period

SEPZ

• 1D: 2.19%
• 1M: -3.68%
• YTD: -3.90%
• 6M: -1.98%
• 1Y: 12.38%
• 3Y*: 13.04%
• 5Y*: 9.81%
• 10Y*: —

APRD

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SEPZ vs. APRD - Expense Ratio Comparison

SEPZ has a 0.80% expense ratio, which is higher than APRD's 0.79% expense ratio.

SEPZ

TrueShares Structured Outcome (September) ETF

APRD

Innovator Premium Income 10 Barrier ETF - April

Return for Risk

SEPZ vs. APRD — Risk / Return Rank

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

SEPZ

SEPZ Risk / Return Rank: 52
SEPZ Sharpe Ratio Rank: 47
SEPZ Sortino Ratio Rank: 50
SEPZ Omega Ratio Rank: 50
SEPZ Calmar Ratio Rank: 52
SEPZ Martin Ratio Rank: 63

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.

SEPZ vs. APRD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TrueShares Structured Outcome (September) ETF (SEPZ) and Innovator Premium Income 10 Barrier ETF - April (APRD). 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.

	SEPZ	APRD	Difference
Sharpe ratio Return per unit of total volatility	0.88	—	—
Sortino ratio Return per unit of downside risk	1.37	—	—
Omega ratio Gain probability vs. loss probability	1.19	—	—
Calmar ratio Return relative to maximum drawdown	1.35	—	—
Martin ratio Return relative to average drawdown	6.37	—	—
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

	SEPZ	APRD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.88	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	—	—

Dividends

SEPZ vs. APRD - Dividend Comparison

SEPZ's dividend yield for the trailing twelve months is around 2.28%, while APRD has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021
SEPZ TrueShares Structured Outcome (September) ETF	2.28%	2.20%	3.62%	3.55%	0.69%	0.05%
APRD Innovator Premium Income 10 Barrier ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

SEPZ vs. APRD - Drawdown Comparison

The maximum SEPZ drawdown since its inception was -15.22%, which is greater than APRD's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SEPZ and APRD.

Drawdown Indicators

	SEPZ	APRD	Difference
Max Drawdown Largest peak-to-trough decline	-15.22%	0.00%	-15.22%
Max Drawdown (1Y) Largest decline over 1 year	-9.40%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.22%	—	—
Current Drawdown Current decline from peak	-5.27%	0.00%	-5.27%
Average Drawdown Average peak-to-trough decline	-2.91%	0.00%	-2.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.00%	—	—

Volatility

Volatility by Period

	SEPZ	APRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	14.14%	0.00%	+14.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.30%	0.00%	+12.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.53%	0.00%	+12.53%