KMAR vs SPY
Innovator US Small Cap Power Buffer ETF - March vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. KMAR delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | KMAR | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.79% | 0.09% | |
| AUM | $34M | $789.1B | |
| Dividend Yield | 0.00% | 1.01% | |
| Holdings | 6 | 505 | |
| YTD Return | +13.24% | +13.68% | |
| 1Y Return | +21.95% | +21.53% | |
| 3Y Return (annualized) | - | +21.44% | |
| 5Y Return (annualized) | - | +13.18% | |
| Volatility (annualized) | 7.0% | 15.3% | |
| Max Drawdown | -10.1% | -56.5% | |
| Fund Family | Innovator ETFs Trust | State Street Investment Management | |
| Category | Alternative | Equity | |
| Inception | Mar 3, 2025 | Jan 22, 1993 |
KMAR vs SPY Performance
Innovator US Small Cap Power Buffer ETF - March (KMAR) is a ETF from Innovator ETFs Trust and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year KMAR returned +21.95% while SPY returned +21.53%. Year to date, KMAR is up 13.24% versus a gain of 13.68% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 7.0% for KMAR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -10.1% for KMAR and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.82. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
KMAR charges 0.79% per year while SPY charges 0.09%. On a $10,000 position that is $79 vs $9 annually, a gap of $70 per year that compounds over a long holding period. On income, KMAR currently yields 0.00% against 1.01% for SPY.
Frequently Asked Questions
Which is cheaper, KMAR or SPY?
KMAR has an expense ratio of 0.79% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $70 per year of difference.
Which performed better, KMAR or SPY?
Over the past year KMAR returned +21.95% vs +21.53% for SPY, so KMAR leads on 1-year performance. Over the longest common window we track (1 years), KMAR annualized +19.52% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, KMAR or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 7.0% for KMAR. Worst drawdown: KMAR -10.1% vs SPY -56.5%.
Should I hold both KMAR and SPY?
KMAR and SPY have a monthly-return correlation of 0.82, so combining them can provide real diversification depending on your allocation goals.
Which pays a higher dividend, KMAR or SPY?
KMAR yields 0.00% while SPY yields 1.01%, so SPY currently pays the higher dividend yield.
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