Data as of Nov 4, 2026.

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Buffer ETFs

APRT vs BAPR: Cap, Buffer & Days Left

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As of Nov 4, 2026 BAPR can fall 11.4% before its buffer engages and APRT 11.2%.

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Net assets: $47m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Apr, and $417m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Apr.

At a glance
11.2%
APRT can fall this far before its buffer
11.4%
BAPR can fall this far before its buffer
4.4%
APRT can still gain
5.0%
BAPR can still gain
APRT At its cap
At its capAPRT: reference +17.9% since period start, fund +11.6%; buffer 0 to −10; cap +17.3%; At its cap. Data to Nov 4, 2026.10 pts of buffer+17.3% gain captured−10.0% floor0% period start+17.3% capTODAY · SPY +17.9%At its capAPRT: reference +17.9% since period start, fund +11.6%; buffer 0 to −10; cap +17.3%; At its cap. Data to Nov 4, 2026.10 pts+17.3% gained−10.0% floor0% start+17.3% capTODAY · SPY +17.9%

APRT: reference +17.9% since period start, fund +11.6%; buffer 0 to −10; cap +17.3%; At its cap. Data to Nov 4, 2026.

APRT: reference +17.9% since period start, fund +11.6%; buffer 0 to −10; cap +17.3%; At its cap. Data to Nov 4, 2026.
BAPR Between buffer and cap
Between buffer and capBAPR: reference +17.9% since period start, fund +12.3%; buffer 0 to −9; cap +18.5%; Between buffer and cap. Data to Nov 4, 2026.9 pts of buffer+17.9% gain captured−9.0% floor0% period start+18.5% cap+0.6% more to the capTODAY · SPY +17.9%Between buffer and capBAPR: reference +17.9% since period start, fund +12.3%; buffer 0 to −9; cap +18.5%; Between buffer and cap. Data to Nov 4, 2026.9 pts+17.9% gained−9.0% floor0% start+18.5% cap+0.6% more to the capTODAY · SPY +17.9%

BAPR: reference +17.9% since period start, fund +12.3%; buffer 0 to −9; cap +18.5%; Between buffer and cap. Data to Nov 4, 2026.

BAPR: reference +17.9% since period start, fund +12.3%; buffer 0 to −9; cap +18.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

APRT costs 0.05 points a year less; their one-year returns differ by 0.7 points; BAPR is 8.8 times larger.

Points (pts) are percentage points.

APRT vs BAPR: Cap, Buffer & Days Left
MeasureAPRTBAPR
Return
Total return, 1 year+16.0%+16.7%
Drawdown
Index fall to the buffer15.2%15.1%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.74%0.79%
Net assets, as of Nov 3, 2026$47m$414m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · APRT scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score17.3APRT15.4BAPR

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Window by window

Window by window: APRT vs BAPR: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowAPRTBAPRAPRTBAPR
3 months+1.7%+1.6%+2.1 pts+2.0 pts
6 months+4.8%+4.8%+0.3 pts+0.3 pts
1 year+16.0%+16.7%+2.4 pts+3.2 pts
3 years+51.7%+55.1%−24.7 pts−21.3 pts
Since launchNot the same days: APRT Jun 2020 · BAPR Apr 2019+97.4%+117.7%−53.6 pts−50.5 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

APRT AllianzIM U.S. Equity Buffer10 ETF - Apr · Absorbs the first 10% of loss on SPY and caps the gain at 17.3%, over a period ending Mar 31, 2027 BAPR Innovator U.S. Equity Buffer ETF - Apr · Absorbs the first 9% of loss on SPY and caps the gain at 18.5%, over a period ending Mar 31, 2027
Reference index SPY SPY
Buffer 10% 9%
Outcome period Apr 1, 2026 to Mar 31, 2027 Mar 31, 2026 to Mar 31, 2027
Days left 147 147
Starting cap +17.3% +18.5%
Can still gain 4.4% 5.0%
Fall before buffer 11.2% 11.4%
Protection left, index points 10.0% of 10.0% 9.0% of 9.0%
Index return this period +17.9% +17.9%
Fund return this period +11.6% +12.3%
State today At cap Open
Expense ratio 0.74% 0.79%
Net assets, APRT as of Nov 3, 2026 and BAPR as of Nov 4, 2026 $47m $417m

As of Nov 4, 2026. Source: ETFIQ.

APRT is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

APRT resets first, on Mar 31, 2027, 147 days from now; BAPR runs to Mar 31, 2027, 147 days. APRT can still gain 4.4% before its cap, BAPR 5.0%. A fall from here reaches APRT’s buffer after 11.2% and BAPR’s after 11.4%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
APRT

SPY had already risen past this fund's cap of +17.3% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.4% as the period runs out. The fund's price can fall 11.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 15.2% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 147 days remained on Nov 4, 2026. On Mar 31, 2027 the period ends and a new cap is set.

BAPR

From its price on Nov 4, 2026, the fund can gain about 5.0% more before it reaches its cap. The fund's price can fall 11.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 15.1% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, APRT or BAPR?
From their prices on Nov 4, 2026, APRT can gain about 4.4% before its cap and BAPR about 5.0%, so BAPR has more room left this period.
Which resets first, APRT or BAPR?
APRT ends its outcome period on Mar 31, 2027 and BAPR on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, APRT or BAPR?
APRT charges 0.74% a year and BAPR charges 0.79%, so APRT is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, APRT against BAPR, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aprt-vs-bapr

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