ZOCT vs. KSEP

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP).

ZOCT and KSEP are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. ZOCT is an actively managed fund by Innovator. It was launched on Oct 1, 2024. KSEP is an actively managed fund by Innovator. It was launched on Aug 30, 2024.

Performance

ZOCT vs. KSEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP). The values are adjusted to include any dividend payments, if applicable.

ZOCT vs. KSEP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
ZOCT Innovator Equity Defined Protection ETF - 1 Yr October	-0.15%	6.24%	0.68%
KSEP Innovator U.S. Small Cap Power Buffer ETF - September	1.59%	8.54%	1.48%

Returns By Period

In the year-to-date period, ZOCT achieves a -0.15% return, which is significantly lower than KSEP's 1.59% return.

ZOCT

• 1D: 0.18%
• 1M: -0.64%
• YTD: -0.15%
• 6M: 0.66%
• 1Y: 6.46%
• 3Y*: —
• 5Y*: —
• 10Y*: —

KSEP

• 1D: 0.46%
• 1M: -2.01%
• YTD: 1.59%
• 6M: 3.29%
• 1Y: 15.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

ZOCT vs. KSEP - Expense Ratio Comparison

Both ZOCT and KSEP have an expense ratio of 0.79%.

ZOCT

Innovator Equity Defined Protection ETF - 1 Yr October

KSEP

Innovator U.S. Small Cap Power Buffer ETF - September

Return for Risk

ZOCT vs. KSEP — Risk / Return Rank

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

ZOCT

ZOCT Risk / Return Rank: 92
ZOCT Sharpe Ratio Rank: 89
ZOCT Sortino Ratio Rank: 94
ZOCT Omega Ratio Rank: 94
ZOCT Calmar Ratio Rank: 90
ZOCT Martin Ratio Rank: 93

KSEP

KSEP Risk / Return Rank: 64
KSEP Sharpe Ratio Rank: 62
KSEP Sortino Ratio Rank: 66
KSEP Omega Ratio Rank: 59
KSEP Calmar Ratio Rank: 63
KSEP Martin Ratio Rank: 71

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.

ZOCT vs. KSEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) and Innovator U.S. Small Cap Power Buffer ETF - September (KSEP). 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.

	ZOCT	KSEP	Difference
Sharpe ratio Return per unit of total volatility	2.03	1.18	+0.85
Sortino ratio Return per unit of downside risk	2.99	1.78	+1.22
Omega ratio Gain probability vs. loss probability	1.45	1.23	+0.22
Calmar ratio Return relative to maximum drawdown	3.43	1.83	+1.60
Martin ratio Return relative to average drawdown	15.10	8.40	+6.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

ZOCT vs. KSEP - Sharpe Ratio Comparison

The current ZOCT Sharpe Ratio is 2.03, which is higher than the KSEP Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of ZOCT and KSEP, 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

	ZOCT	KSEP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.03	1.18	+0.85
Sharpe Ratio (All Time) Calculated using the full available price history	1.44	0.71	+0.74

Correlation

The correlation between ZOCT and KSEP is 0.69, 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

ZOCT vs. KSEP - Dividend Comparison

Neither ZOCT nor KSEP has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

ZOCT vs. KSEP - Drawdown Comparison

The maximum ZOCT drawdown since its inception was -3.18%, smaller than the maximum KSEP drawdown of -14.92%. Use the drawdown chart below to compare losses from any high point for ZOCT and KSEP.

Drawdown Indicators

	ZOCT	KSEP	Difference
Max Drawdown Largest peak-to-trough decline	-3.18%	-14.92%	+11.74%
Max Drawdown (1Y) Largest decline over 1 year	-1.91%	-8.33%	+6.42%
Current Drawdown Current decline from peak	-0.77%	-2.40%	+1.63%
Average Drawdown Average peak-to-trough decline	-0.37%	-2.69%	+2.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.43%	1.81%	-1.38%

Volatility

ZOCT vs. KSEP - Volatility Comparison

The current volatility for Innovator Equity Defined Protection ETF - 1 Yr October (ZOCT) is 1.07%, while Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) has a volatility of 4.06%. This indicates that ZOCT experiences smaller price fluctuations and is considered to be less risky than KSEP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ZOCT	KSEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.07%	4.06%	-2.99%
Volatility (6M) Calculated over the trailing 6-month period	1.70%	7.38%	-5.68%
Volatility (1Y) Calculated over the trailing 1-year period	3.20%	13.16%	-9.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.14%	12.07%	-8.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.14%	12.07%	-8.93%