ZMAR vs. ZDEK

Last updated Jun 24, 2026

ZMAR (Innovator Equity Defined Protection ETF - 1 Yr March) and ZDEK (Innovator Equity Defined Protection ETF - 1 Yr December) are both Defined Outcome funds from Innovator. Both are actively managed. Over the past year, ZMAR returned 6.95% vs 8.37% for ZDEK. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

ZMAR vs. ZDEK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 1 Yr March (ZMAR) and Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with ZMAR having a 2.38% return and ZDEK slightly lower at 2.36%.

ZMAR

• 1D: -0.12%
• 1M: -0.02%
• YTD: 2.38%
• 6M: 2.42%
• 1Y: 6.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

ZDEK

• 1D: -0.21%
• 1M: 0.05%
• YTD: 2.36%
• 6M: 2.29%
• 1Y: 8.37%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZMAR vs. ZDEK - Yearly Performance Comparison

	2026 (YTD)	2025
ZMAR Innovator Equity Defined Protection ETF - 1 Yr March	2.38%	5.30%
ZDEK Innovator Equity Defined Protection ETF - 1 Yr December	2.36%	6.84%

Correlation

The correlation between ZMAR and ZDEK is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025	0.81

The correlation between ZMAR and ZDEK has been stable across timeframes, ranging from 0.81 to 0.81 - a consistent structural relationship.

Return for Risk

ZMAR vs. ZDEK — Risk / Return Rank

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

ZMAR

ZMAR Risk / Return Rank: 94
ZMAR Sharpe Ratio Rank: 94
ZMAR Sortino Ratio Rank: 96
ZMAR Omega Ratio Rank: 96
ZMAR Calmar Ratio Rank: 89
ZMAR Martin Ratio Rank: 95

ZDEK

ZDEK Risk / Return Rank: 94
ZDEK Sharpe Ratio Rank: 93
ZDEK Sortino Ratio Rank: 95
ZDEK Omega Ratio Rank: 95
ZDEK Calmar Ratio Rank: 92
ZDEK Martin Ratio Rank: 95

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.

ZMAR vs. ZDEK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr March (ZMAR) and Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK). 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.

	ZMAR	ZDEK	Difference
Sharpe ratio: Return per unit of total volatility	3.23	3.13	+0.09
Sortino ratio: Return per unit of downside risk	5.14	4.84	+0.30
Omega ratio: Gain probability vs. loss probability	1.72	1.67	+0.06
Calmar ratio: Return relative to maximum drawdown	4.85	5.58	-0.73
Martin ratio: Return relative to average drawdown	26.92	28.40	-1.48

ZMAR vs. ZDEK - Sharpe Ratio Comparison

The current ZMAR Sharpe Ratio is 3.23, which is comparable to the ZDEK Sharpe Ratio of 3.13. The chart below compares the historical Sharpe Ratios of ZMAR and ZDEK, 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

ZMAR vs. ZDEK - Drawdown Comparison

The maximum ZMAR drawdown since its inception was -2.89%, smaller than the maximum ZDEK drawdown of -3.40%. Use the drawdown chart below to compare losses from any high point for ZMAR and ZDEK.

Drawdown Indicators

	ZMAR	ZDEK	Difference
Max Drawdown Largest peak-to-trough decline	-2.89%	-3.40%	+0.51%
Max Drawdown (1Y) Largest decline over 1 year	-1.44%	-1.51%	+0.07%
Current Drawdown Current decline from peak	-0.32%	-0.28%	-0.04%
Average Drawdown Average peak-to-trough decline	-0.32%	-0.44%	+0.12%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.26%	0.30%	-0.04%

Volatility

ZMAR vs. ZDEK - Volatility Comparison

Innovator Equity Defined Protection ETF - 1 Yr March (ZMAR) and Innovator Equity Defined Protection ETF - 1 Yr December (ZDEK) have volatilities of 0.69% and 0.70%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZMAR	ZDEK	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.69%	0.70%	-0.01%
Volatility (6M) Calculated over the trailing 6-month period	1.68%	1.73%	-0.05%
Volatility (1Y) Calculated over the trailing 1-year period	2.17%	2.70%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.09%	3.30%	-0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.09%	3.30%	-0.21%

ZMAR vs. ZDEK - Expense Ratio Comparison

Both ZMAR and ZDEK have an expense ratio of 0.79%.

Dividends

ZMAR vs. ZDEK - Dividend Comparison

Neither ZMAR nor ZDEK has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both ZMAR and ZDEK in my portfolio?

ZMAR and ZDEK have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ZMAR or ZDEK?

ZDEK has higher volatility (0.70%) compared to ZMAR (0.69%). In terms of maximum drawdown, ZMAR dropped -2.89% vs ZDEK's -3.40%.

Which ETF is better, ZMAR or ZDEK?

On 1-year performance, ZDEK leads with 8.37% vs 6.95% for ZMAR. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ZMAR or ZDEK?

Over the 1-year period, ZDEK has performed better with a 8.37% return vs 6.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ZMAR or ZDEK?

ZMAR and ZDEK have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, ZMAR or ZDEK?

ZMAR and ZDEK have nearly identical dividend yields, around 0.00%.

Which has better risk-adjusted returns?

ZMAR currently has the higher Sharpe Ratio (3.23 vs 3.13), 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.