SEPZ vs. APRD

Last updated Jun 4, 2026

SEPZ (TrueShares Structured Outcome (September) ETF) and APRD (Innovator Premium Income 10 Barrier ETF - April) are both Options Trading funds. SEPZ is passively managed, while APRD is actively managed. SEPZ charges 0.80%/yr vs 0.79%/yr for APRD.

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.

Returns By Period

SEPZ

• 1D: -0.70%
• 1M: 4.17%
• YTD: 8.19%
• 6M: 8.10%
• 1Y: 20.60%
• 3Y*: 16.43%
• 5Y*: 11.53%
• 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 - Yearly Performance Comparison

	2026 (YTD)
SEPZ TrueShares Structured Outcome (September) ETF	7.50%
APRD Innovator Premium Income 10 Barrier ETF - April	0.00%

SEPZ vs. APRD - Sectors Allocation Comparison

Sectors	SEPZ	APRD
Technology	35.3%	32.0%
Financial Services	13.4%	13.7%
Consumer Cyclical	10.6%	11.6%
Communication Services	9.9%	9.9%
Healthcare	8.8%	10.5%
Industrials	7.8%	7.4%
Consumer Defensive	5.2%	5.5%
Energy	3.0%	3.2%
Utilities	2.5%	2.5%
Real Estate	2.0%	2.1%
Basic Materials	1.6%	1.7%

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: 63
SEPZ Sharpe Ratio Rank: 62
SEPZ Sortino Ratio Rank: 64
SEPZ Omega Ratio Rank: 60
SEPZ Calmar Ratio Rank: 57
SEPZ Martin Ratio Rank: 69

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	2.08	—	—
Sortino ratio: Return per unit of downside risk	2.96	—	—
Omega ratio: Gain probability vs. loss probability	1.37	—	—
Calmar ratio: Return relative to maximum drawdown	2.83	—	—
Martin ratio: Return relative to average drawdown	12.83	—	—
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	2.08	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	—	—

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	-7.30%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-14.57%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.22%	—	—
Current Drawdown Current decline from peak	-0.87%	0.00%	-0.87%
Average Drawdown Average peak-to-trough decline	-2.84%	0.00%	-2.84%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.61%	—	—

Volatility

Volatility by Period

	SEPZ	APRD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.28%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.97%	0.00%	+9.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.29%	0.00%	+12.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.46%	0.00%	+12.46%

SEPZ vs. APRD - Expense Ratio Comparison

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

Dividends

SEPZ vs. APRD - Dividend Comparison

SEPZ's dividend yield for the trailing twelve months is around 2.03%, while APRD has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
APRD Innovator Premium Income 10 Barrier ETF - April	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SEPZ TrueShares Structured Outcome (September) ETF	2.03%	2.20%	3.62%	3.55%	0.69%	0.05%

Frequently Asked Questions

Which ETF is better, SEPZ or APRD?

On fees, APRD is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SEPZ or APRD?

APRD is cheaper with a 0.79% expense ratio, compared with 0.80% for SEPZ.

Which ETF pays a higher dividend yield, SEPZ or APRD?

SEPZ has the higher dividend yield at 2.03%, compared with 0.00% for APRD.

What is the main difference between SEPZ and APRD?

They also come from different issuers: TrueShares and Innovator. Their fees differ too: 0.80% for SEPZ and 0.79% for APRD.