XSEP vs. APRH

Last updated Apr 1, 2026

Compare and contrast key facts about FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) and Innovator Premium Income 20 Barrier ETF - April (APRH).

XSEP and APRH are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. XSEP is an actively managed fund by FT Vest. It was launched on Sep 20, 2022. APRH is an actively managed fund by Innovator. It was launched on Mar 31, 2023.

Performance

XSEP vs. APRH - 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 - September (XSEP) and Innovator Premium Income 20 Barrier ETF - April (APRH). The values are adjusted to include any dividend payments, if applicable.

XSEP vs. APRH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
XSEP FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	-1.18%	8.94%	8.41%	10.43%
APRH Innovator Premium Income 20 Barrier ETF - April	0.87%	5.84%	6.91%	6.96%

Returns By Period

In the year-to-date period, XSEP achieves a -1.18% return, which is significantly lower than APRH's 0.87% return.

XSEP

• 1D: 1.48%
• 1M: -1.72%
• YTD: -1.18%
• 6M: 0.70%
• 1Y: 8.32%
• 3Y*: 8.91%
• 5Y*: —
• 10Y*: —

APRH

• 1D: -0.00%
• 1M: 0.28%
• YTD: 0.87%
• 6M: 1.15%
• 1Y: 5.55%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

XSEP vs. APRH - Expense Ratio Comparison

XSEP has a 0.85% expense ratio, which is higher than APRH's 0.79% expense ratio.

XSEP

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September

APRH

Innovator Premium Income 20 Barrier ETF - April

Return for Risk

XSEP vs. APRH — Risk / Return Rank

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

XSEP

XSEP Risk / Return Rank: 55
XSEP Sharpe Ratio Rank: 47
XSEP Sortino Ratio Rank: 49
XSEP Omega Ratio Rank: 65
XSEP Calmar Ratio Rank: 45
XSEP Martin Ratio Rank: 70

APRH

APRH Risk / Return Rank: 53
APRH Sharpe Ratio Rank: 42
APRH Sortino Ratio Rank: 44
APRH Omega Ratio Rank: 79
APRH Calmar Ratio Rank: 36
APRH Martin Ratio Rank: 63

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.

XSEP vs. APRH - 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 - September (XSEP) and Innovator Premium Income 20 Barrier ETF - April (APRH). 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.

	XSEP	APRH	Difference
Sharpe ratio Return per unit of total volatility	0.89	0.81	+0.08
Sortino ratio Return per unit of downside risk	1.36	1.26	+0.10
Omega ratio Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio Return relative to maximum drawdown	1.21	0.96	+0.25
Martin ratio Return relative to average drawdown	7.38	6.35	+1.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

XSEP vs. APRH - Sharpe Ratio Comparison

The current XSEP Sharpe Ratio is 0.89, which is comparable to the APRH Sharpe Ratio of 0.81. The chart below compares the historical Sharpe Ratios of XSEP and APRH, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	XSEP	APRH	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.89	0.81	+0.08
Sharpe Ratio (All Time) Calculated using the full available price history	1.39	1.50	-0.11

Correlation

The correlation between XSEP and APRH is 0.58, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

XSEP vs. APRH - Dividend Comparison

XSEP has not paid dividends to shareholders, while APRH's dividend yield for the trailing twelve months is around 5.55%.

	TTM	2025	2024	2023
XSEP FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September	0.00%	0.00%	0.00%	0.00%
APRH Innovator Premium Income 20 Barrier ETF - April	5.55%	5.49%	6.87%	5.90%

Drawdowns

XSEP vs. APRH - Drawdown Comparison

The maximum XSEP drawdown since its inception was -9.21%, which is greater than APRH's maximum drawdown of -5.87%. Use the drawdown chart below to compare losses from any high point for XSEP and APRH.

Drawdown Indicators

	XSEP	APRH	Difference
Max Drawdown Largest peak-to-trough decline	-9.21%	-5.87%	-3.34%
Max Drawdown (1Y) Largest decline over 1 year	-7.16%	-5.83%	-1.33%
Current Drawdown Current decline from peak	-2.08%	-0.21%	-1.87%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.22%	-0.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	0.89%	+0.28%

Volatility

XSEP vs. APRH - Volatility Comparison

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - September (XSEP) has a higher volatility of 2.77% compared to Innovator Premium Income 20 Barrier ETF - April (APRH) at 0.59%. This indicates that XSEP's price experiences larger fluctuations and is considered to be riskier than APRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XSEP	APRH	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.77%	0.59%	+2.18%
Volatility (6M) Calculated over the trailing 6-month period	4.27%	1.56%	+2.71%
Volatility (1Y) Calculated over the trailing 1-year period	9.39%	6.89%	+2.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.14%	4.62%	+2.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.14%	4.62%	+2.52%