diff --git a/charts/index.yaml b/charts/index.yaml
index 5b87498c4df0..ca70be7894f1 100644
--- a/charts/index.yaml
+++ b/charts/index.yaml
@@ -2,7 +2,16 @@ apiVersion: v1
 entries:
   karpenter:
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.466648-07:00"
+    created: "2021-11-04T14:18:31.195359-07:00"
+    description: A Helm chart for https://github.com/awslabs/karpenter/.
+    digest: 558f26b8786384766407c5f86cff5180066c4fa68fe9e3cf7b782ec8564f04ff
+    name: karpenter
+    type: application
+    urls:
+    - karpenter-0.4.2.tgz
+    version: 0.4.2
+  - apiVersion: v2
+    created: "2021-11-04T14:18:31.194942-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: ec4bcf2a7f279ad97b8749a7f1a8edd527a09f8c00614d911a773843bd44a58b
     name: karpenter
@@ -11,7 +20,7 @@ entries:
     - karpenter-0.4.1.tgz
     version: 0.4.1
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.46599-07:00"
+    created: "2021-11-04T14:18:31.194112-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: d4ea011979906ad22b2345d0eb4c941445e89c1b0561c6ae44bb71fdb641c161
     name: karpenter
@@ -20,7 +29,7 @@ entries:
     - karpenter-0.4.0.tgz
     version: 0.4.0
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.464941-07:00"
+    created: "2021-11-04T14:18:31.193244-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: e8b9b3dd447d0ab48b66156bf88ae924121e5780d741ee18cc9a43a90a6f4290
     name: karpenter
@@ -29,7 +38,7 @@ entries:
     - karpenter-0.3.4.tgz
     version: 0.3.4
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.463857-07:00"
+    created: "2021-11-04T14:18:31.192432-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 0d8bc4c74416aeb5233a0a65c4b4fd678b7c961f1dca10604e33337715b585ff
     name: karpenter
@@ -38,7 +47,7 @@ entries:
     - karpenter-0.3.3.tgz
     version: 0.3.3
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.462892-07:00"
+    created: "2021-11-04T14:18:31.19162-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: e24d1ca8364e92d161f8295b552ec101a72491c62926dd67779d4e4a7e6b5756
     name: karpenter
@@ -47,7 +56,7 @@ entries:
     - karpenter-0.3.2.tgz
     version: 0.3.2
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.461757-07:00"
+    created: "2021-11-04T14:18:31.190418-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 86c9a22a01247b2ed564baa12b88ed2df6556c9e8cb6aca9b990212c1e809c45
     name: karpenter
@@ -56,7 +65,7 @@ entries:
     - karpenter-0.3.1.tgz
     version: 0.3.1
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.460694-07:00"
+    created: "2021-11-04T14:18:31.188601-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 6d86156704c2c7eac8094dbe57458a3b1334eb38626b6da4ccd60c5cd65e0250
     name: karpenter
@@ -65,7 +74,7 @@ entries:
     - karpenter-0.3.0.tgz
     version: v0.3.0
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.45965-07:00"
+    created: "2021-11-04T14:18:31.187871-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 5b19f5da4dd3d3e147f3e93bf168d1cd24106e12eb7fe44ad88850f73ceb82f0
     name: karpenter
@@ -74,7 +83,7 @@ entries:
     - karpenter-0.2.9.tgz
     version: v0.2.9
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.457976-07:00"
+    created: "2021-11-04T14:18:31.187156-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 8b704acc1a9c018da774f62c6be824e7389bb482437d318902d01237e3cacfc5
     name: karpenter
@@ -83,7 +92,7 @@ entries:
     - karpenter-0.2.8.tgz
     version: v0.2.8
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.457175-07:00"
+    created: "2021-11-04T14:18:31.186517-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 048ec496d46d8ab534bc8af6090699fedd2aaf45c8e1658636c7a44afdb6e898
     name: karpenter
@@ -92,7 +101,7 @@ entries:
     - karpenter-0.2.7.tgz
     version: v0.2.7
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.456258-07:00"
+    created: "2021-11-04T14:18:31.185298-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 48008ba427baa5206bd59abe9e25005b0b6673f03e705f2149717bb89156873d
     name: karpenter
@@ -101,7 +110,7 @@ entries:
     - karpenter-0.2.6.tgz
     version: v0.2.6
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.455467-07:00"
+    created: "2021-11-04T14:18:31.184647-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 208d0c14d2cdbc8c387dc92a473b625f905e829486edd5fd007eb56c9f896682
     name: karpenter
@@ -110,7 +119,7 @@ entries:
     - karpenter-0.2.5.tgz
     version: v0.2.5
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.454485-07:00"
+    created: "2021-11-04T14:18:31.183755-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: ed7d1d08bde38f41a6bc8a4bf93b4dd85a3b6e5f526e44324483eadc9faeea6d
     name: karpenter
@@ -119,7 +128,7 @@ entries:
     - karpenter-0.2.4.tgz
     version: v0.2.4
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.453698-07:00"
+    created: "2021-11-04T14:18:31.183093-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 902bd53be060893d4bfe3c0f57ae831448aa8790930d153666429ea5472d824b
     name: karpenter
@@ -128,7 +137,7 @@ entries:
     - karpenter-0.2.3.tgz
     version: v0.2.3
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.453053-07:00"
+    created: "2021-11-04T14:18:31.182624-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 90d075cbc08871ffb56b2e530fdf304b6af32c76670fcdd299af87d3810d4651
     name: karpenter
@@ -137,7 +146,7 @@ entries:
     - karpenter-0.2.2.tgz
     version: v0.2.2
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.452347-07:00"
+    created: "2021-11-04T14:18:31.182032-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 87e161d40c65dc58a3963f17d70cc165a5bf46155f723e487486f57d209e50d1
     name: karpenter
@@ -146,7 +155,7 @@ entries:
     - karpenter-0.2.1.tgz
     version: v0.2.1
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.451565-07:00"
+    created: "2021-11-04T14:18:31.181402-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 552bdc17f5625e4696bb7419284026f4291428877092ec5d984f486a2b812d6f
     name: karpenter
@@ -155,7 +164,7 @@ entries:
     - karpenter-0.2.0.tgz
     version: v0.2.0
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.45074-07:00"
+    created: "2021-11-04T14:18:31.180675-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 1a597c415201e61576b83ee6ec3e24b99281805b3be8141b0a344c6f014d4e15
     name: karpenter
@@ -164,7 +173,7 @@ entries:
     - karpenter-0.1.3.tgz
     version: v0.1.3
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.44994-07:00"
+    created: "2021-11-04T14:18:31.18001-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 6a6753731aef19db2aae72b6bfc1535917053d87f706579e158cae98c23887b4
     name: karpenter
@@ -173,7 +182,7 @@ entries:
     - karpenter-0.1.2.tgz
     version: v0.1.2
   - apiVersion: v2
-    created: "2021-10-22T09:55:59.448442-07:00"
+    created: "2021-11-04T14:18:31.179155-07:00"
     description: A Helm chart for https://github.com/awslabs/karpenter/.
     digest: 39685c8cbe9a757ca48721aed08b49111fef18bc2a9f67d3223f19d0706f09f7
     name: karpenter
@@ -181,4 +190,4 @@ entries:
     urls:
     - karpenter-0.1.1.tgz
     version: v0.1.1
-generated: "2021-10-22T09:55:59.445036-07:00"
+generated: "2021-11-04T14:18:31.177845-07:00"
diff --git a/charts/karpenter-0.4.2.tgz b/charts/karpenter-0.4.2.tgz
new file mode 100644
index 000000000000..83dcedb99da4
Binary files /dev/null and b/charts/karpenter-0.4.2.tgz differ
diff --git a/charts/karpenter/Chart.yaml b/charts/karpenter/Chart.yaml
index d60ba5b074d7..9dcd9d55c8e4 100644
--- a/charts/karpenter/Chart.yaml
+++ b/charts/karpenter/Chart.yaml
@@ -2,4 +2,4 @@ apiVersion: v2
 name: karpenter
 description: A Helm chart for https://github.com/awslabs/karpenter/.
 type: application
-version: 0.4.1
+version: 0.4.2
diff --git a/charts/karpenter/values.yaml b/charts/karpenter/values.yaml
index 3f490e8a7ebe..fbb3dd3169bb 100644
--- a/charts/karpenter/values.yaml
+++ b/charts/karpenter/values.yaml
@@ -11,10 +11,10 @@ controller:
   nodeSelector: {}
   tolerations: []
   affinity: {}
-  image: "public.ecr.aws/karpenter/controller:v0.4.1@sha256:d2a76815061fb8ef5509ea3273371f3b284cce9a27d43e2db7a76bde574b461c"
+  image: "public.ecr.aws/karpenter/controller:v0.4.2@sha256:51d9bcca109b1b1839b0a3052a448af9168f7fd52246bf27402cb38f8a7799e2"
 webhook:
   env: []
   nodeSelector: {}
   tolerations: []
   affinity: {}
-  image: "public.ecr.aws/karpenter/webhook:v0.4.1@sha256:fbdb0ff053859662c9e5ebffe1333e45259e20c7eb7a36e6a3b2e7b62ea9de04"
+  image: "public.ecr.aws/karpenter/webhook:v0.4.2@sha256:2d004cd277209242d7e886308be419f86107811b4d0f1ed21c908b77e284202b"