SFEB vs. KFEB

Last updated Jun 23, 2026

SFEB (FT Vest U.S. Small Cap Moderate Buffer ETF - February) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds. Both are actively managed. Over the past year, SFEB returned 24.18% vs 25.17% for KFEB. Their correlation of 0.95 suggests significant overlap in exposure. SFEB charges 0.90%/yr vs 0.79%/yr for KFEB.

Performance

SFEB vs. KFEB - 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 U.S. Small Cap Power Buffer ETF - February (KFEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SFEB achieves a 11.12% return, which is significantly lower than KFEB's 13.02% return.

SFEB

• 1D: 0.32%
• 1M: 2.05%
• YTD: 11.12%
• 6M: 9.91%
• 1Y: 24.18%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KFEB

• 1D: -0.40%
• 1M: 1.83%
• YTD: 13.02%
• 6M: 10.79%
• 1Y: 25.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SFEB vs. KFEB - Yearly Performance Comparison

	2026 (YTD)	2025
SFEB FT Vest U.S. Small Cap Moderate Buffer ETF - February	11.12%	6.66%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	13.02%	9.19%

Correlation

The correlation between SFEB and KFEB is 0.95 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	0.95

The correlation between SFEB and KFEB has been stable across timeframes, ranging from 0.95 to 0.95 - a consistent structural relationship.

Return for Risk

SFEB vs. KFEB — Risk / Return Rank

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

SFEB

SFEB Risk / Return Rank: 85
SFEB Sharpe Ratio Rank: 82
SFEB Sortino Ratio Rank: 86
SFEB Omega Ratio Rank: 81
SFEB Calmar Ratio Rank: 86
SFEB Martin Ratio Rank: 89

KFEB

KFEB Risk / Return Rank: 81
KFEB Sharpe Ratio Rank: 79
KFEB Sortino Ratio Rank: 82
KFEB Omega Ratio Rank: 74
KFEB Calmar Ratio Rank: 86
KFEB Martin Ratio Rank: 84

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. KFEB - 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 U.S. Small Cap Power Buffer ETF - February (KFEB). 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.

	SFEB	KFEB	Difference
Sharpe ratio: Return per unit of total volatility	2.55	2.29	+0.26
Sortino ratio: Return per unit of downside risk	3.66	3.30	+0.36
Omega ratio: Gain probability vs. loss probability	1.46	1.39	+0.07
Calmar ratio: Return relative to maximum drawdown	4.65	4.36	+0.29
Martin ratio: Return relative to average drawdown	19.03	15.88	+3.15

SFEB vs. KFEB - Sharpe Ratio Comparison

The current SFEB Sharpe Ratio is 2.55, which is comparable to the KFEB Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of SFEB and KFEB, 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

SFEB vs. KFEB - Drawdown Comparison

The maximum SFEB drawdown since its inception was -16.67%, which is greater than KFEB's maximum drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for SFEB and KFEB.

Drawdown Indicators

	SFEB	KFEB	Difference
Max Drawdown Largest peak-to-trough decline	-16.67%	-14.16%	-2.51%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-5.80%	+0.58%
Current Drawdown Current decline from peak	0.00%	-0.40%	+0.40%
Average Drawdown Average peak-to-trough decline	-2.46%	-2.25%	-0.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	1.59%	-0.32%

Volatility

SFEB vs. KFEB - Volatility Comparison

The current volatility for FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) is 2.55%, while Innovator U.S. Small Cap Power Buffer ETF - February (KFEB) has a volatility of 2.70%. This indicates that SFEB experiences smaller price fluctuations and is considered to be less risky than KFEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFEB	KFEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.55%	2.70%	-0.15%
Volatility (6M) Calculated over the trailing 6-month period	6.72%	7.74%	-1.02%
Volatility (1Y) Calculated over the trailing 1-year period	9.56%	11.07%	-1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.03%	13.17%	-1.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.03%	13.17%	-1.14%

SFEB vs. KFEB - Expense Ratio Comparison

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

Dividends

SFEB vs. KFEB - Dividend Comparison

Neither SFEB nor KFEB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SFEB and KFEB in my portfolio?

With a correlation of 0.95, SFEB and KFEB 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 KFEB?

KFEB has higher volatility (2.70%) compared to SFEB (2.55%). In terms of maximum drawdown, SFEB dropped -16.67% vs KFEB's -14.16%.

Which ETF is better, SFEB or KFEB?

On 1-year performance, KFEB leads with 25.17% vs 24.18% for SFEB. On fees, KFEB is cheaper at 0.79% per year. On volatility, SFEB has been the lower-risk option at 2.55%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFEB or KFEB?

Over the 1-year period, KFEB has performed better with a 25.17% return vs 24.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFEB or KFEB?

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

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

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

What is the main difference between SFEB and KFEB?

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

Which has better risk-adjusted returns?

SFEB currently has the higher Sharpe Ratio (2.55 vs 2.29), 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.