Which has more room to gain, APRT or BAPR?

From their prices on Oct 13, 2026, APRT can gain about 4.3% before its cap and BAPR about 4.9%, 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.

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APRT vs BAPR: Cap, Buffer & Days Left

As of Oct 13, 2026 BAPR can fall 11.5% before its buffer engages and APRT 11.2%. Net assets on Oct 13, 2026: $47m for AllianzIM U.S. Equity Buffer10 ETF - Apr and $418m for Innovator U.S. Equity Buffer ETF - Apr.

APRT costs 0.05 points a year less; their one-year returns differ by 0.9 points; BAPR is 8.8 times larger.

Points (pts) are percentage points.

APRT vs BAPR: Cap, Buffer & Days Left
	APRT	BAPR
Expense ratio	0.74%	0.79%
Net assets	$47m	$418m
Total return, 1 year	+16.6%	+17.5%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	16.4%

11.2%

APRT can fall this far before its buffer

11.5%

BAPR can fall this far before its buffer

4.3%

APRT can still gain

4.9%

BAPR can still gain

APRTAt its cap

APRT: reference +19.6% since period start, fund +11.7%; buffer 0 to −10; cap +17.3%; At its cap. Figures to Oct 13, 2026.

BAPRAt its cap

BAPR: reference +19.6% since period start, fund +12.5%; buffer 0 to −9; cap +18.5%; At its cap. Figures to Oct 13, 2026.

ETFIQ Downside Cover Score · APRT scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

APRT 16.3

BAPR 15.6

0.2, the lowest in this set99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. 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 → How it is computed →

Both are already at their cap, so neither gains from more rise in the index before the period ends.

Where each one stands today

APRT resets first, on Mar 31, 2027, 169 days from now; BAPR runs to Mar 31, 2027, 169 days. APRT can still gain 4.3% before its cap, BAPR 4.9%. A fall from here reaches APRT’s buffer after 11.2% and BAPR’s after 11.5%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: APRT vs BAPR: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	APRT	BAPR	APRT	BAPR
3 months	+2.9%	+3.0%	−0.6 pts	−0.5 pts
6 months	+7.2%	+7.5%	−4.8 pts	−4.5 pts
1 year	+16.6%	+17.5%	−0.8 pts	+0.2 pts
3 years	+52.9%	+56.2%	−27.4 pts	−24.1 pts
Since launch Not the same days: APRT Jun 2020 · BAPR Apr 2019	+97.4%	+117.9%	−57.2 pts	−54.3 pts

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

On the same fields

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

Issuer AllianzIM Innovator

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 169 169

Starting cap +17.3% +18.5%

Can still gain 4.3% 4.9%

Fall before buffer 11.2% 11.5%

Protection left, index points 10.0% of 10.0% 9.0% of 9.0%

Index return this period +19.6% +19.6%

Fund return this period +11.7% +12.5%

State today At cap At cap

Expense ratio 0.74% 0.79%

Net assets $47m $418m

As of Oct 13, 2026. Source: ETFIQ.

About APRT

SPY had already risen past this fund's cap of +17.3% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.3% 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 figure. In index terms, SPY can fall 16.4% 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. 169 days remained on Oct 13, 2026. On Mar 31, 2027 the period ends and a new cap is set.

About BAPR

SPY had already risen past this fund's cap of +18.5% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.9% as the period runs out. The fund's price can fall 11.5% from here before the buffer starts absorbing losses, by the issuer's figure. 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 Oct 13, 2026, APRT can gain about 4.3% before its cap and BAPR about 4.9%, 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

APRT vs FMAR APRT vs ARLU APRT vs GMAR APRT vs DMAR BAPR vs DJUL BAPR vs PMAR BAPR vs PMAY BAPR vs PNOV

SPDR® S&P 500® ETF Trust →APRT on its own →BAPR on its own →How every figure is computed →Standards and sources →

Where these figures came from

APRT filings on SEC EDGAR ↗AllianzIM page for APRT ↗BAPR filings on SEC EDGAR ↗Innovator page for BAPR ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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 figure 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 figure is an ETFIQ calculation with distributions reinvested.

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ETFIQ, APRT against BAPR, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/aprt-vs-bapr

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.