KAPR vs QBKV: Grades, Fees and Holdings Compared

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

KAPRCCboe

Allianzim U.S. Small Cap Buffer5 ETF

QBKVBCboe

Overlap

0.0%by weight

Expense ratio

QBKV −0.05pt a year

KAPR0.79%QBKV0.74%

Avg volume · 30D

KAPR 6.6×the volume

KAPR16.8KQBKV2.56K

KAPR vs QBKV Performance

Jul 31, 2026 – Oct 30, 2026

−0.3%KAPR−0.8%QBKV

Expense ratio: KAPR 0.79%; QBKV 0.74%, better
Fund size: KAPR $178M; QBKV $7M
1Y total return: KAPR +15.0%; QBKV No data
Holdings: KAPR 3; QBKV 3
Avg volume (30D): KAPR 16.8K sh, better; QBKV 2.56K sh
NAV per share: KAPR $39.64; QBKV $27.23
52W range

ETF.net Grade

Pillar letters and Scores for KAPR, QBKV, with each pillar’s weight
Pillar	KAPR	QBKV
Cost30% weight	C40	A73Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	B63Higher	C49
Tradability15% weight	B57Higher	C50
Holdings10% weight	Not scored	C53
Durability5% weight	A84Higher	D25

Rank among Russell 2000 Buffer 15% funds

How we build Categories ›

Same Category. KAPR and QBKV are both graded against the same 14 Russell 2000 Buffer 15% funds, so their Grades compare head to head.

Russell 2000 Buffer 15%⁠

Category · 14 funds

See all 14 ›

QBKV ranks 2nd and KAPR 4th of 14 funds in the Russell 2000 Buffer 15% Category.

Rank 1BQBKFAllianzim U.S. Small Cap Buffer15 ETFScore 64
Rank 2BQBKVAllianzim U.S. Small Cap Buffer5 ETFScore 58
Rank 3BKOCTInnovator U.S. Small Cap Power Buffer ETFScore 57
Rank 4CKAPRInnovator U.S. Small Cap Power Buffer ETF - AprilScore 52
Rank 5CKJANInnovator U.S. Small Cap Power Buffer ETF - JanuaryScore 49

Our read on each fund

ETF.net Research

KAPRCInnovator U.S. Small Cap Power Buffer ETF - April

QBKVBAllianzim U.S. Small Cap Buffer5 ETF

In short

KAPR Small caps are the bumpiest ride in US equities. KAPR straps a cushion to them: it tracks the Russell 2000 ETF across an April-to-March outcome period, absorbing the first 15% of losses in exchange for a ceiling on the upside.

QBKV No data

Stated mandate

KAPR The fund seeks to follow the return of IWM up to a predetermined cap while protecting investors from the first 15% of losses during the outcome period, before fees and expenses.

QBKV No data

Why people hold it

KAPR The buffer is the whole point: over each outcome period the fund aims to absorb the first 15% of the Russell 2000 ETF's decline, before fees and expenses.innovatoretfs.com
Costs 0.79% a year, level with Innovator's other small-cap buffer months and below the 0.90% charged by FT Vest's small-cap buffer funds (SMAY, SNOV).
April is your anchor: the period runs April 1 to March 31 with a fresh cap each spring, and sibling funds on other months (KJAN, KJUL, KOCT) let you stagger start dates.
Running since 2020 inside a plain 1940 Act ETF wrapper holding options, not a bank-issued note, so the payoff shape doesn't ride on one issuer's credit.innovatoretfs.com

QBKV No data

Worth knowing

KAPR Thinly traded next to the heavyweights of the buffer world, so spreads deserve a look, and the stated buffer and cap apply to holders who own it start to finish of a period.innovatoretfs.com
Upside stops at the cap struck each April, and the 15% cushion is measured before the 0.79% fee. Buy mid-period and you inherit whatever cap and remaining buffer exist that day.innovatoretfs.com
Options do the work instead of shares, so Russell 2000 dividends don't flow through and the fund has not been making regular distributions.innovatoretfs.com

QBKV No data

Full KAPR profile⁠

Full QBKV profile⁠

KAPR vs QBKV Holdings

How KAPR and QBKV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of KAPR and 0.0% of QBKV.

Level by level

Holdings0 in both0.0%
Asset classEquity100%
Countryby domicile100%
Sector11 Sectors100%

Sector

Sector weights in KAPR and QBKV, widest gap first
Sector	More in KAPRMore in QBKV	KAPR	QBKV
Health Care	Same weight	20.9%	20.9%
Financials	Same weight	18.0%	18.0%
Technology	Same weight	14.4%	14.4%
Industrials	Same weight	13.4%	13.4%
Consumer Discretionary	Same weight	8.6%	8.6%
Real Estate	Same weight	6.5%	6.5%
Energy	Same weight	6.3%	6.3%
Materials	Same weight	4.3%	4.3%
Utilities	Same weight	2.7%	2.7%
Consumer Staples	Same weight	2.6%	2.6%
Communication	Same weight	2.3%	2.3%

Country, concentration and asset class

Country by domicile

Country weights in KAPR and QBKV, widest gap first
Country	More in KAPRMore in QBKV	KAPR	QBKV
United States	Same weight	98.4%	98.4%
Brazil	Same weight	0.6%	0.6%
Switzerland	Same weight	0.3%	0.3%
Canada	Same weight	0.2%	0.2%
United Kingdom	Same weight	0.2%	0.2%
Taiwan	Same weight	0.1%	0.1%
Norway	Same weight	0.1%	0.1%
Singapore	Same weight	0.1%	0.1%
Other countries (5)	Same weight	0.1%	0.1%

Concentration

Weight in the 10 largest Holdings

KAPR103.5%
QBKV101.9%

Securities held

KAPR3
QBKV2

Asset class

KAPR: Equity
QBKV: Equity

Holdings

Only in KAPR3
In both0
Only in QBKV2

Only in KAPR

3 securities, 100% of KAPR by weight

Iwm 03/31/2027 2.48 C101.32%
Iwm 03/31/2027 248 P1.85%
Us Bank Mmda - Usbgfs 9 09/01/20370.29%

Only in QBKV

2 securities, 100% of QBKV by weight

Iwm 12/31/2026 2.06 C99.28%
Iwm 12/31/2026 277.92 P2.04%

Weight gaps

KAPR and QBKV share no securities.

All 6 KAPR holdings⁠All 5 QBKV 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.

KAPR vs QBKV Cost

Overpaying KAPR vs QBKV

$867

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

KAPR 0.79%
$15,174
QBKV 0.74%
$14,307

Amount$10,000

Years30 years

Cost over time

KAPR 0.79%
QBKV 0.74%
Overpaying

Year by year

Year	KAPR	QBKV	Overpaying
10	$1,405	$1,319	$86
20	$5,331	$5,015	$316
30	$15,174	$14,307	$867

Expense ratio

0.79%KAPR
0.74%QBKV, cheaper

QBKV0.74%KAPR0.79%

0.30%1.01%

Middle half of Russell 2000 Buffer 15% funds
Median 0.77%

QBKV 6th cheapest of 14 funds

KAPR 8th cheapest of 14 funds

KAPR vs QBKV Dividends

Last 12 months to Oct 30, 2026

Payout (12M): KAPR None; QBKV None

Distribution history

KAPRAll KAPR payments⁠

No distribution history available.

QBKVAll QBKV payments⁠

No distribution history available.

KAPR vs QBKV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: KAPR 10.2%QBKV No data
Return per unit of riskSharpe ratio, 3 years: KAPR 1.03QBKV No data
Worst fallMax drawdown, 5 years: KAPR −16.9%QBKV No data
Market sensitivityBeta, 5 years: KAPR 0.60QBKV 0.31; Market = 1

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