ZAPR vs. OCTB
ZAPR (Innovator Equity Defined Protection ETF - 1 Yr April) and OCTB (Aptus October Buffer ETF) are both Defined Outcome funds. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. ZAPR charges 0.79%/yr vs 0.25%/yr for OCTB.
Performance
ZAPR vs. OCTB - Performance Comparison
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Returns By Period
In the year-to-date period, ZAPR achieves a 3.01% return, which is significantly lower than OCTB's 5.52% return.
ZAPR
- 1D
- -0.13%
- 1M
- -0.06%
- YTD
- 3.01%
- 6M
- 3.01%
- 1Y
- 6.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
OCTB
- 1D
- -0.56%
- 1M
- 0.00%
- YTD
- 5.52%
- 6M
- 5.21%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZAPR vs. OCTB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
ZAPR Innovator Equity Defined Protection ETF - 1 Yr April | 3.01% | 1.18% |
OCTB Aptus October Buffer ETF | 5.52% | 2.37% |
Correlation
The correlation between ZAPR and OCTB is 0.60, 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 14, 2025 | 0.60 |
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Return for Risk
ZAPR vs. OCTB — Risk / Return Rank
ZAPR
OCTB
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZAPR vs. OCTB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr April (ZAPR) and Aptus October Buffer ETF (OCTB). 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.
| ZAPR | OCTB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 2.13 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 16.26 | — | — |
| Martin ratioReturn relative to average drawdown | 73.32 | — | — |
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Drawdowns
ZAPR vs. OCTB - Drawdown Comparison
The maximum ZAPR drawdown since its inception was -1.72%, smaller than the maximum OCTB drawdown of -4.79%. Use the drawdown chart below to compare losses from any high point for ZAPR and OCTB.
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Drawdown Indicators
| ZAPR | OCTB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.72% | -4.79% | +3.07% |
Max Drawdown (1Y)Largest decline over 1 year | -0.40% | — | — |
Current DrawdownCurrent decline from peak | -0.30% | -0.82% | +0.52% |
Average DrawdownAverage peak-to-trough decline | -0.09% | -0.69% | +0.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.09% | — | — |
Volatility
ZAPR vs. OCTB - Volatility Comparison
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Volatility by Period
| ZAPR | OCTB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.52% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.11% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.48% | 7.26% | -5.78% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.49% | 7.26% | -4.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.49% | 7.26% | -4.77% |
ZAPR vs. OCTB - Expense Ratio Comparison
ZAPR has a 0.79% expense ratio, which is higher than OCTB's 0.25% expense ratio.
Dividends
ZAPR vs. OCTB - Dividend Comparison
Neither ZAPR nor OCTB has paid dividends to shareholders.
Frequently Asked Questions
ZAPR and OCTB have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, OCTB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.
OCTB is cheaper with a 0.25% expense ratio, compared with 0.79% for ZAPR.
ZAPR and OCTB have nearly identical dividend yields, around 0.00%.
They also come from different issuers: Innovator and Aptus Capital Advisors. Their fees differ too: 0.79% for ZAPR and 0.25% for OCTB.
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