SFEB vs. KAPR

Last updated Jun 6, 2026

SFEB (FT Vest U.S. Small Cap Moderate Buffer ETF - February) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds. SFEB is actively managed, while KAPR is passively managed. Over the past year, SFEB returned 21.90% vs 22.23% for KAPR. Their correlation of 0.93 suggests significant overlap in exposure. SFEB charges 0.90%/yr vs 0.79%/yr for KAPR.

Performance

SFEB vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFEB achieves a 8.38% return, which is significantly lower than KAPR's 10.16% return.

SFEB

• 1D: -1.28%
• 1M: -0.40%
• YTD: 8.38%
• 6M: 8.62%
• 1Y: 21.90%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KAPR

• 1D: -1.37%
• 1M: -0.36%
• YTD: 10.16%
• 6M: 10.66%
• 1Y: 22.23%
• 3Y*: 12.50%
• 5Y*: 7.02%
• 10Y*: —

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

SFEB vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SFEB FT Vest U.S. Small Cap Moderate Buffer ETF - February	8.38%	9.24%	9.54%
KAPR Innovator Russell 2000 Power Buffer ETF - April	10.16%	7.42%	12.42%

Correlation

The correlation between SFEB and KAPR is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.93
Correlation (All Time) Calculated using the full available price history since Feb 21, 2024	0.93

The correlation between SFEB and KAPR has been stable across timeframes, ranging from 0.93 to 0.93 - a consistent structural relationship.

Return for Risk

SFEB vs. KAPR — Risk / Return Rank

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

SFEB

SFEB Risk / Return Rank: 81
SFEB Sharpe Ratio Rank: 77
SFEB Sortino Ratio Rank: 80
SFEB Omega Ratio Rank: 76
SFEB Calmar Ratio Rank: 84
SFEB Martin Ratio Rank: 86

KAPR

KAPR Risk / Return Rank: 95
KAPR Sharpe Ratio Rank: 94
KAPR Sortino Ratio Rank: 95
KAPR Omega Ratio Rank: 95
KAPR Calmar Ratio Rank: 96
KAPR Martin Ratio Rank: 97

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.

SFEB vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) and Innovator Russell 2000 Power Buffer ETF - April (KAPR). 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.

	SFEB	KAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.30	3.35	-1.04
Sortino ratio: Return per unit of downside risk	3.32	5.12	-1.80
Omega ratio: Gain probability vs. loss probability	1.42	1.69	-0.27
Calmar ratio: Return relative to maximum drawdown	4.21	8.87	-4.66
Martin ratio: Return relative to average drawdown	17.21	41.34	-24.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SFEB vs. KAPR - Sharpe Ratio Comparison

The current SFEB Sharpe Ratio is 2.30, which is lower than the KAPR Sharpe Ratio of 3.35. The chart below compares the historical Sharpe Ratios of SFEB and KAPR, 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

	SFEB	KAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	3.35	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.60	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	0.81	+0.18

Drawdowns

SFEB vs. KAPR - Drawdown Comparison

The maximum SFEB drawdown since its inception was -16.67%, roughly equal to the maximum KAPR drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for SFEB and KAPR.

Drawdown Indicators

	SFEB	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-16.67%	-16.91%	+0.24%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-2.52%	-2.70%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.84%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.91%	—
Current Drawdown Current decline from peak	-1.31%	-1.37%	+0.06%
Average Drawdown Average peak-to-trough decline	-2.50%	-3.91%	+1.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	0.54%	+0.74%

Volatility

SFEB vs. KAPR - Volatility Comparison

FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) and Innovator Russell 2000 Power Buffer ETF - April (KAPR) have volatilities of 2.69% and 2.64%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFEB	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.69%	2.64%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	6.63%	4.34%	+2.29%
Volatility (1Y) Calculated over the trailing 1-year period	9.55%	6.69%	+2.86%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.09%	11.76%	+0.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.09%	11.64%	+0.45%

SFEB vs. KAPR - Expense Ratio Comparison

SFEB has a 0.90% expense ratio, which is higher than KAPR's 0.79% expense ratio.

Dividends

SFEB vs. KAPR - Dividend Comparison

Neither SFEB nor KAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SFEB and KAPR in my portfolio?

With a correlation of 0.93, SFEB and KAPR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, SFEB or KAPR?

SFEB has higher volatility (2.69%) compared to KAPR (2.64%). In terms of maximum drawdown, SFEB dropped -16.67% vs KAPR's -16.91%.

Which ETF is better, SFEB or KAPR?

On 1-year performance, KAPR leads with 22.23% vs 21.90% for SFEB. On fees, KAPR is cheaper at 0.79% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFEB or KAPR?

Over the 1-year period, KAPR has performed better with a 22.23% return vs 21.90%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFEB or KAPR?

KAPR is cheaper with a 0.79% expense ratio, compared with 0.90% for SFEB.

Which ETF pays a higher dividend yield, SFEB or KAPR?

SFEB and KAPR have nearly identical dividend yields, around 0.00%.

What is the main difference between SFEB and KAPR?

They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.90% for SFEB and 0.79% for KAPR.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.35 vs 2.30), 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.