SFEB vs. KMAR

Last updated Jul 2, 2026

SFEB (FT Vest U.S. Small Cap Moderate Buffer ETF - February) and KMAR (Innovator U.S. Small Cap Power Buffer ETF - March) are both Defined Outcome funds. SFEB is actively managed, while KMAR is passively managed. Over the past year, SFEB returned 22.46% vs 23.16% for KMAR. With a 0.97 correlation, they move nearly in lockstep. SFEB charges 0.90%/yr vs 0.79%/yr for KMAR.

Performance

SFEB vs. KMAR - 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 - March (KMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with SFEB having a 11.67% return and KMAR slightly higher at 12.18%.

SFEB

• 1D: -0.00%
• 1M: 2.09%
• 6M: 11.67%
• YTD: 11.67%
• 1Y: 22.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KMAR

• 1D: 0.05%
• 1M: 2.11%
• 6M: 12.18%
• YTD: 12.18%
• 1Y: 23.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SFEB vs. KMAR - Yearly Performance Comparison

	2026 (YTD)	2025
SFEB FT Vest U.S. Small Cap Moderate Buffer ETF - February	11.67%	11.73%
KMAR Innovator U.S. Small Cap Power Buffer ETF - March	12.18%	11.45%

Correlation

The correlation between SFEB and KMAR is 0.97 - 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	0.97
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025	0.97

The correlation between SFEB and KMAR has been stable across timeframes, ranging from 0.97 to 0.97 - a consistent structural relationship.

Return for Risk

SFEB vs. KMAR — Risk / Return Rank

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

SFEB

SFEB Risk / Return Rank: 88
SFEB Sharpe Ratio Rank: 87
SFEB Sortino Ratio Rank: 89
SFEB Omega Ratio Rank: 85
SFEB Calmar Ratio Rank: 88
SFEB Martin Ratio Rank: 90

KMAR

KMAR Risk / Return Rank: 90
KMAR Sharpe Ratio Rank: 89
KMAR Sortino Ratio Rank: 91
KMAR Omega Ratio Rank: 89
KMAR Calmar Ratio Rank: 90
KMAR Martin Ratio Rank: 92

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. KMAR - 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 - March (KMAR). 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	KMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.39	2.49	-0.10
Sortino ratio: Return per unit of downside risk	3.44	3.61	-0.17
Omega ratio: Gain probability vs. loss probability	1.44	1.47	-0.03
Calmar ratio: Return relative to maximum drawdown	4.32	4.75	-0.43
Martin ratio: Return relative to average drawdown	17.68	19.46	-1.78

SFEB vs. KMAR - Sharpe Ratio Comparison

The current SFEB Sharpe Ratio is 2.39, which is comparable to the KMAR Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of SFEB and KMAR, 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. KMAR - Drawdown Comparison

The maximum SFEB drawdown since its inception was -16.67%, which is greater than KMAR's maximum drawdown of -11.32%. Use the drawdown chart below to compare losses from any high point for SFEB and KMAR.

Drawdown Indicators

	SFEB	KMAR	Difference
Max Drawdown Largest peak-to-trough decline	-16.67%	-11.32%	-5.35%
Max Drawdown (1Y) Largest decline over 1 year	-5.22%	-4.89%	-0.33%
Current Drawdown Current decline from peak	-0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.44%	-1.32%	-1.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.27%	1.19%	+0.08%

Volatility

SFEB vs. KMAR - Volatility Comparison

The current volatility for FT Vest U.S. Small Cap Moderate Buffer ETF - February (SFEB) is 2.50%, while Innovator U.S. Small Cap Power Buffer ETF - March (KMAR) has a volatility of 2.87%. This indicates that SFEB experiences smaller price fluctuations and is considered to be less risky than KMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SFEB	KMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	2.87%	-0.37%
Volatility (6M) Calculated over the trailing 6-month period	6.70%	6.70%	0.00%
Volatility (1Y) Calculated over the trailing 1-year period	9.46%	9.36%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.96%	12.06%	-0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.96%	12.06%	-0.10%

SFEB vs. KMAR - Expense Ratio Comparison

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

Dividends

SFEB vs. KMAR - Dividend Comparison

Neither SFEB nor KMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SFEB and KMAR in my portfolio?

With a correlation of 0.97, SFEB and KMAR 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 KMAR?

KMAR has higher volatility (2.87%) compared to SFEB (2.50%). In terms of maximum drawdown, SFEB dropped -16.67% vs KMAR's -11.32%.

Which ETF is better, SFEB or KMAR?

On 1-year performance, KMAR leads with 23.16% vs 22.46% for SFEB. On fees, KMAR is cheaper at 0.79% per year. On volatility, SFEB has been the lower-risk option at 2.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SFEB or KMAR?

Over the 1-year period, KMAR has performed better with a 23.16% return vs 22.46%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SFEB or KMAR?

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

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

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

What is the main difference between SFEB and KMAR?

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

Which has better risk-adjusted returns?

KMAR currently has the higher Sharpe Ratio (2.49 vs 2.39), 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.