TOCT vs. KFEB

Last updated Jun 5, 2026

TOCT (Innovator Equity Defined Protection ETF - 2 Yr to October 2027) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds from Innovator. Both are actively managed. A 0.65 correlation means they provide meaningful diversification when combined. Both charge a 0.79% expense ratio.

Performance

TOCT vs. KFEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 2 Yr to October 2027 (TOCT) 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, TOCT achieves a 2.15% return, which is significantly lower than KFEB's 12.25% return.

TOCT

• 1D: 0.09%
• 1M: 0.78%
• YTD: 2.15%
• 6M: 2.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

KFEB

• 1D: 0.71%
• 1M: 1.71%
• YTD: 12.25%
• 6M: 10.89%
• 1Y: 25.47%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TOCT vs. KFEB - Yearly Performance Comparison

	2026 (YTD)	2025
TOCT Innovator Equity Defined Protection ETF - 2 Yr to October 2027	2.15%	0.49%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	12.25%	1.72%

Correlation

The correlation between TOCT and KFEB is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 2, 2025	0.65

Return for Risk

TOCT vs. KFEB — Risk / Return Rank

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

KFEB

KFEB Risk / Return Rank: 77
KFEB Sharpe Ratio Rank: 73
KFEB Sortino Ratio Rank: 76
KFEB Omega Ratio Rank: 68
KFEB Calmar Ratio Rank: 84
KFEB Martin Ratio Rank: 82

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.

TOCT vs. KFEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 2 Yr to October 2027 (TOCT) 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	TOCT	KFEB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.33	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.34	1.22	+0.12

Drawdowns

TOCT vs. KFEB - Drawdown Comparison

The maximum TOCT drawdown since its inception was -2.02%, smaller than the maximum KFEB drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for TOCT and KFEB.

Drawdown Indicators

	TOCT	KFEB	Difference
Max Drawdown Largest peak-to-trough decline	-2.02%	-14.16%	+12.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-5.80%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.39%	-2.32%	+1.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.59%	—

Volatility

Volatility by Period

	TOCT	KFEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.73%	—
Volatility (1Y) Calculated over the trailing 1-year period	2.97%	10.98%	-8.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.97%	13.26%	-10.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.97%	13.26%	-10.29%

TOCT vs. KFEB - Expense Ratio Comparison

Both TOCT and KFEB have an expense ratio of 0.79%.

Dividends

TOCT vs. KFEB - Dividend Comparison

Neither TOCT nor KFEB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both TOCT and KFEB in my portfolio?

TOCT and KFEB have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, TOCT or KFEB?

Both ETFs have the same 0.79% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, TOCT or KFEB?

TOCT and KFEB have the same expense ratio: 0.79% per year.

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

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