XDEC vs. KAPR

Last updated Jun 4, 2026

XDEC (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December) and KAPR (Innovator Russell 2000 Power Buffer ETF - April) are both Defined Outcome funds - XDEC tracks the SPDR S&P 500 ETF Trust - Benchmark TR Gross while KAPR tracks the Russell 2000 Index. Both are passively managed. Over the past 3 years, XDEC returned 10.02%/yr vs 13.04%/yr for KAPR. A 0.72 correlation means they provide meaningful diversification when combined. XDEC charges 0.85%/yr vs 0.79%/yr for KAPR.

Performance

XDEC vs. KAPR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) 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, XDEC achieves a 4.43% return, which is significantly lower than KAPR's 10.96% return.

XDEC

• 1D: -0.18%
• 1M: 1.62%
• YTD: 4.43%
• 6M: 4.96%
• 1Y: 12.16%
• 3Y*: 10.02%
• 5Y*: —
• 10Y*: —

KAPR

• 1D: -0.52%
• 1M: 1.70%
• YTD: 10.96%
• 6M: 11.76%
• 1Y: 22.85%
• 3Y*: 13.04%
• 5Y*: 7.18%
• 10Y*: —

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

XDEC vs. KAPR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
XDEC FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December	4.43%	9.71%	9.61%	14.37%	-3.38%	1.88%
KAPR Innovator Russell 2000 Power Buffer ETF - April	10.96%	7.42%	12.10%	15.36%	-8.14%	2.16%

Correlation

The correlation between XDEC and KAPR is 0.70, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (All Time) Calculated using the full available price history since Dec 21, 2021	0.72

The correlation between XDEC and KAPR has been stable across timeframes, ranging from 0.63 to 0.72 - a consistent structural relationship.

XDEC vs. KAPR - Sectors Allocation Comparison

Sectors	XDEC	KAPR
Technology	36.2%	15.4%
Financial Services	11.9%	16.0%
Communication Services	10.9%	2.3%
Consumer Cyclical	10.1%	8.7%
Healthcare	8.4%	17.7%
Industrials	8.1%	16.6%
Consumer Defensive	4.9%	2.6%
Energy	3.5%	6.6%
Utilities	2.3%	3.0%
Real Estate	1.9%	6.3%
Basic Materials	1.8%	4.8%

Return for Risk

XDEC vs. KAPR — Risk / Return Rank

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

XDEC

XDEC Risk / Return Rank: 81
XDEC Sharpe Ratio Rank: 80
XDEC Sortino Ratio Rank: 86
XDEC Omega Ratio Rank: 90
XDEC Calmar Ratio Rank: 64
XDEC Martin Ratio Rank: 86

KAPR

KAPR Risk / Return Rank: 95
KAPR Sharpe Ratio Rank: 93
KAPR Sortino Ratio Rank: 96
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.

XDEC vs. KAPR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) 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.

	XDEC	KAPR	Difference
Sharpe ratio: Return per unit of total volatility	2.57	3.53	-0.96
Sortino ratio: Return per unit of downside risk	3.88	5.56	-1.69
Omega ratio: Gain probability vs. loss probability	1.57	1.74	-0.16
Calmar ratio: Return relative to maximum drawdown	3.12	9.12	-6.00
Martin ratio: Return relative to average drawdown	18.12	43.03	-24.91
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XDEC vs. KAPR - Sharpe Ratio Comparison

The current XDEC Sharpe Ratio is 2.57, which is comparable to the KAPR Sharpe Ratio of 3.53. The chart below compares the historical Sharpe Ratios of XDEC 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

	XDEC	KAPR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	3.53	-0.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.61	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.96	0.83	+0.13

Drawdowns

XDEC vs. KAPR - Drawdown Comparison

The maximum XDEC drawdown since its inception was -11.75%, smaller than the maximum KAPR drawdown of -16.91%. Use the drawdown chart below to compare losses from any high point for XDEC and KAPR.

Drawdown Indicators

	XDEC	KAPR	Difference
Max Drawdown Largest peak-to-trough decline	-11.75%	-16.91%	+5.16%
Max Drawdown (1Y) Largest decline over 1 year	-3.91%	-2.52%	-1.39%
Max Drawdown (3Y) Largest decline over 3 years	-10.08%	-16.84%	+6.76%
Max Drawdown (5Y) Largest decline over 5 years	—	-16.91%	—
Current Drawdown Current decline from peak	-0.18%	-0.52%	+0.34%
Average Drawdown Average peak-to-trough decline	-1.65%	-3.92%	+2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.53%	+0.14%

Volatility

XDEC vs. KAPR - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - December (XDEC) is 0.72%, while Innovator Russell 2000 Power Buffer ETF - April (KAPR) has a volatility of 2.30%. This indicates that XDEC experiences smaller price fluctuations and is considered to be less risky than KAPR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XDEC	KAPR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.72%	2.30%	-1.58%
Volatility (6M) Calculated over the trailing 6-month period	4.11%	4.06%	+0.05%
Volatility (1Y) Calculated over the trailing 1-year period	4.76%	6.54%	-1.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.47%	11.75%	-3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.47%	11.63%	-3.16%

XDEC vs. KAPR - Expense Ratio Comparison

XDEC has a 0.85% expense ratio, which is higher than KAPR's 0.79% expense ratio.

Dividends

XDEC vs. KAPR - Dividend Comparison

Neither XDEC nor KAPR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XDEC and KAPR in my portfolio?

XDEC and KAPR have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XDEC or KAPR?

KAPR has higher volatility (2.30%) compared to XDEC (0.72%). In terms of maximum drawdown, XDEC dropped -11.75% vs KAPR's -16.91%.

Which ETF is better, XDEC or KAPR?

On 3-year performance, KAPR leads with 13.04% vs 10.02% for XDEC. On fees, KAPR is cheaper at 0.79% per year. On volatility, XDEC has been the lower-risk option at 0.72%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XDEC or KAPR?

Over the 3-year period, KAPR has performed better with a 13.04% return vs 10.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XDEC or KAPR?

KAPR is cheaper with a 0.79% expense ratio, compared with 0.85% for XDEC.

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

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

What is the main difference between XDEC and KAPR?

XDEC tracks SPDR S&P 500 ETF Trust - Benchmark TR Gross, while KAPR tracks Russell 2000 Index. They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.85% for XDEC and 0.79% for KAPR.

Which has better risk-adjusted returns?

KAPR currently has the higher Sharpe Ratio (3.53 vs 2.57), 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.