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IBUF vs KBFR

Innovator International Developed 10 Buffer ETF

IBUFBNYSE Arca

Innovator U.S. Small Cap Managed 10 Buffer ETF

KBFRBNYSE Arca

Overlap

Expense ratio

KBFR −0.06pt a year

IBUF0.85%KBFR0.79%

Avg volume · 30D

IBUF 5.5×the volume

IBUF18KKBFR3.25K

IBUF vs KBFR Performance

Jul 31, 2026 – Oct 30, 2026

−1.2%IBUF−0.8%KBFR

Jul 31, 2026 to Oct 30, 2026. IBUF −1.2%. KBFR −0.8%. Use the arrow keys to read each point.2%4%Jul 2026Sep 2026Oct 2026
Expense ratio
IBUF 0.85%
KBFR 0.79%, better
Fund size
IBUF $121M
KBFR $13M
1Y total return
IBUF +9.8%
KBFR No data
Holdings
IBUF 3
KBFR 833
Avg volume (30D)
IBUF 18K sh, better
KBFR 3.25K sh
NAV per share
IBUF $31.34
KBFR $26.76
52W range

ETF.net Grade

IBUF: Cost 39, Risk 75, Mission 96, Tradability 74, Holdings not scored, Durability 80. KBFR: Cost 75, Risk 48, Mission not scored, Tradability 42, Holdings 88, Durability 48.
Pillar letters and Scores for IBUF, KBFR, with each pillar’s weight
PillarIBUFKBFR
Cost30% weightD39A75Higher
Mission25% weightA96Not scored
Risk15% weightA75HigherC48
Tradability15% weightA74HigherC42
Holdings10% weightNot scoredA88
Durability5% weightA80HigherC48

Rank among Other Buffered funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. IBUF and KBFR are both graded against the same 9 Other Buffered funds, so their Grades compare head to head.

Other Buffered⁠

Category · 9 funds
See all 9 ›

KBFR ranks 1st and IBUF 3rd of 9 funds in the Other Buffered Category.

  1. Rank 1BKBFRInnovator U.S. Small Cap Managed 10 Buffer ETFScore 63
  2. Rank 2BTBJLInnovator 20+ Year Treasury Bond 9 Buffer ETF - JulyScore 60
  3. Rank 3BIBUFInnovator International Developed 10 Buffer ETFScore 58
  4. Rank 4BRSJNFT Vest U.S. Equity Equal Weight Buffer ETF - JuneScore 57

Our read on each fund

ETF.net Research

IBUFBInnovator International Developed 10 Buffer ETF

KBFRBInnovator U.S. Small Cap Managed 10 Buffer ETF

In short

IBUF Most buffer ETFs aim at the S&P 500. IBUF looks overseas, using the iShares MSCI EAFE ETF as its reference and buffering the first 10% of losses over each quarterly outcome period, with upside capped in return.

KBFR Small caps with a seatbelt. Innovator's actively managed fund owns roughly 800 U.S. small caps and layers options on top, built around the 10% buffer in its name, and it undercuts the typical buffer fund on fee.

Stated mandate

IBUF The Fund uses a quarterly defined-outcome strategy based on the iShares MSCI EAFE ETF. It seeks to provide gains up to a cap while buffering the first 10% of reference-asset losses for investors holding through the full outcome period.

KBFR The Fund seeks long-term capital gains while mitigating overall market risk. It is actively managed and uses equity and option positions to provide risk-managed U.S. small-cap exposure.

Why people hold it

  • IBUF Buffer funds crowd around US large caps. This one references the iShares MSCI EAFE ETF, so the 10% cushion sits on developed markets outside the US.
  • The outcome period runs a quarter, not a year, so the buffer and the cap reset four times annually rather than once.
  • At 0.85% a year, it comes in under the median fee among the buffer funds we track.
  • Sits among the strongest implementations in its buffer-fund peer group on our review.
  • KBFR Costs 0.79% a year, below the 0.89% typical of buffer funds in its group.
  • Actively managed and holds about 800 small caps outright, with the option positions layered on top rather than standing in for the stocks.
  • Buffered small-cap exposure is a thin shelf. Its nearest cohort peers cushion international stocks (IBUF), equal-weight U.S. (RSJN) or long Treasuries (TBJL).
  • Adds up to one of the stronger overall packages among the buffer funds we grade.

Worth knowing

  • IBUF The price of the cushion is a ceiling. Gains above each quarter's cap are given up, and that cap is reset at the start of every outcome period.
  • The 10% buffer is designed for investors who hold a full outcome period. Buy mid-quarter and your actual cushion and cap differ from the stated terms.
  • Launched in July 2024 and lightly traded, so the track record is short and spreads can run wider than on large index funds.
  • KBFR Launched in 2026, so there is little live history behind any read on how it handles a real drawdown.
  • Small and thinly traded, so bid-ask spreads and premiums can run wider than in the big buffer names.
  • The buffer absorbs a slice of losses, not all of them, and the option overlay means results can part ways with the small-cap market in both directions.

Full IBUF profile⁠

Full KBFR profile⁠

IBUF vs KBFR Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

IBUF vs KBFR Cost

Overpaying IBUF vs KBFR

$1,025

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IBUF 0.85%

    $16,199

  • KBFR 0.79%

    $15,174

$10,000
30 years

Cost over time

  • IBUF 0.85%
  • KBFR 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530IBUF $16,199KBFR $15,174

Year by year

YearIBUFKBFROverpaying
10$1,508$1,405$103
20$5,706$5,331$375
30$16,199$15,174$1,025

Expense ratio

  • 0.85%IBUF
  • 0.79%KBFR, cheaper
  • Middle half of Other Buffered funds
  • Median 0.85%

KBFR cheapest of 9 funds

IBUF 3rd cheapest of 9 funds

IBUF vs KBFR Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
IBUF None
KBFR No data
Last payment
IBUF No data
KBFR $0.04
Ex-dividend
IBUF No data
KBFR Sep 30, 2026
Paid on
IBUF No data
KBFR Oct 2, 2026
Frequency
IBUF No data
KBFR Quarterly

Distribution history

Per share, 2026, same scale for both

IBUFAll IBUF payments⁠

No distribution history available.

KBFRQuarterly · 3 paymentsAll KBFR payments⁠
One bar per payment. 3 payments in 2026 YTD. Mar 31, 2026 $0.03; Jun 30, 2026 $0.05; Sep 30, 2026 $0.04. Use the arrow keys to read each point.$0$0.052026YTD

IBUF vs KBFR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
IBUF 4.0%since Aug 2024KBFR No data
Return per unit of riskSharpe ratio, 3 years
IBUF 1.40since Aug 2024KBFR No data
Worst fallMax drawdown, 5 years
IBUF −5.9%since Jul 2024KBFR No data
Market sensitivityBeta, 5 years
IBUF 0.14KBFR 0.24

Popular comparisons

  • IBUFBvsTBJLB

    Innovator International Developed 10 Buffer ETF · Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

    Expense ratio
    0.85% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • KBFRBvsTBJLB

    Innovator U.S. Small Cap Managed 10 Buffer ETF · Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

    Expense ratio
    0.79% · 0.79%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBUFBvsRSJNB

    Innovator International Developed 10 Buffer ETF · FT Vest U.S. Equity Equal Weight Buffer ETF - June

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • KBFRBvsRSJNB

    Innovator U.S. Small Cap Managed 10 Buffer ETF · FT Vest U.S. Equity Equal Weight Buffer ETF - June

    Expense ratio
    0.79% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • IBUFBvsRSMRC

    Innovator International Developed 10 Buffer ETF · FT Vest U.S. Equity Equal Weight Buffer ETF - March

    Expense ratio
    0.85% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • KBFRBvsRSMRC

    Innovator U.S. Small Cap Managed 10 Buffer ETF · FT Vest U.S. Equity Equal Weight Buffer ETF - March

    Expense ratio
    0.79% · 0.85%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.