BFRZ vs KHPI
Innovator Equity Managed 100 Buffer ETF vs Kensington Hedged Premium Income ETF
Which is better, BFRZ or KHPI?
Each has led over a different period.
BFRZ has a lower expense ratio. BFRZ led over 1Y, KHPI over the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | BFRZ | KHPI |
|---|---|---|
| Expense Ratio | 0.89%Best | 0.98% |
| AUM | $147M | $443M |
| Dividend Yield | 0.25% | 9.00% |
| Holdings | 567 | 7 |
| YTD Return | +1.76%Best | +0.58% |
| 1Y Return | +3.04%Best | +2.47% |
| Volatility (annualized) | 4.0%Best | 8.0% |
| Max Drawdown | -3.1%Best | -8.1% |
| $10,000 over 1.4 years | $10,916 | $11,019Best |
| Fund Family | Innovator ETFs Trust | Kensington Funds |
| Category | Alternative | Alternative |
| Style | Option Writing | Option Writing |
| Inception | May 13, 2025 | Sep 4, 2024 |
Not shown on this pair: 3Y Return (annualized), 5Y Return (annualized), Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.4 years row, are measured over the window both funds cover: May 13, 2025 to Oct 14, 2026 (1.4 years).
BFRZ vs KHPI growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.4 years both funds cover.
BFRZ vs KHPI Performance
Innovator Equity Managed 100 Buffer ETF (BFRZ) is an ETF from Innovator ETFs Trust and Kensington Hedged Premium Income ETF (KHPI) is an ETF from Kensington Funds. Over the past year BFRZ returned +3.04% while KHPI returned +2.47%. Year to date, BFRZ is up 1.76% versus a gain of 0.58% for KHPI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
KHPI has been the more volatile fund, with annualized monthly volatility of 8.0% compared with 4.0% for BFRZ. 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 -3.1% for BFRZ and -8.1% for KHPI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.57. They move together some of the time, and apart the rest.
Fees and Cost Over Time
BFRZ charges 0.89% per year while KHPI charges 0.98%. On a $10,000 position that is $89 vs $98 annually, a gap of $9 per year that compounds over a long holding period. On income, BFRZ currently yields 0.25% against 9.00% for KHPI.
Holdings Overlap
We hold position weights for 177 holdings in BFRZ and 1 in KHPI, totalling 94.0% and 100.2% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 177 positions we hold weights for in BFRZ and 1 in KHPI, against full books of 567 and 7.
You are not choosing between two funds in isolation.
Whichever of BFRZ and KHPI you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, BFRZ or KHPI?
BFRZ has an expense ratio of 0.89% while KHPI charges 0.98%. BFRZ is the cheaper option, by $9 a year on a $10,000 investment.
Which performed better, BFRZ or KHPI?
Over the past year BFRZ returned +3.04% vs +2.47% for KHPI, so BFRZ leads on 1-year performance. Over the longest common window we track (1 years), BFRZ annualized +6.46% vs +7.18% for KHPI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, BFRZ or KHPI?
KHPI has been the more volatile fund at 8.0% annualized versus 4.0% for BFRZ. Worst drawdown: BFRZ -3.1% vs KHPI -8.1%.
Should I hold both BFRZ and KHPI?
BFRZ and KHPI have a monthly-return correlation of 0.57, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, BFRZ or KHPI?
BFRZ yields 0.25% while KHPI yields 9.00%, so KHPI currently pays the higher dividend yield.
Is KHPI better than BFRZ?
BFRZ has a lower expense ratio. BFRZ led over 1Y, KHPI over the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.