Data as of Nov 4, 2026.
APRT vs PAPR: Cap, Buffer & Days Left
As of Nov 4, 2026 APRT can fall 11.2% before its buffer engages and PAPR 9.0%.
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Net assets: $47m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Apr, and $963m on Nov 4, 2026 for Innovator U.S. Equity Power Buffer ETF - Apr.
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.PAPR: reference +17.9% since period start, fund +9.3%; buffer 0 to −15; cap +14.0%; At its cap. Data to Nov 4, 2026.
PAPR: reference +17.9% since period start, fund +9.3%; buffer 0 to −15; cap +14.0%; At its cap. Data to Nov 4, 2026.Pair scorecard
APRT costs 0.05 points a year less; their one-year returns differ by 3.0 points; PAPR is far larger, $957m against $47m.
Points (pts) are percentage points.
| Measure | APRT | PAPR |
|---|---|---|
| Return | ||
| Total return, 1 year | +16.0% | +13.0% |
| Drawdown | ||
| Index fall to the buffer | 15.2% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $47m | $957m |
| Holdings | ||
| Holdings in common | not published | |
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
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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | APRT | PAPR | APRT | PAPR |
| 3 months | +1.7% | +1.7% | +2.1 pts | +2.1 pts |
| 6 months | +4.8% | +4.3% | +0.3 pts | −0.2 pts |
| 1 year | +16.0% | +13.0% | +2.4 pts | −0.6 pts |
| 3 years | +51.7% | +40.5% | −24.7 pts | −35.9 pts |
| Since launchNot the same days: APRT Jun 2020 · PAPR Apr 2019 | +97.4% | +77.7% | −53.6 pts | −90.6 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
As of Nov 4, 2026. Source: ETFIQ.
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, 147 days from now; PAPR runs to Mar 31, 2027, 147 days. APRT can still gain 4.4% before its cap, PAPR 3.8%. A fall from here reaches APRT’s buffer after 11.2% and PAPR’s after 9.0%. Both track SPY, so what separates them is where each is in its own period.
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.
PAPR
SPY had already risen past this fund's cap of +14.0% 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 3.8% as the period runs out. The fund's price can fall 9.0% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.
Questions people ask
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 PAPR, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aprt-vs-papr
ETFIQ. (Nov 4, 2026). APRT against PAPR. Retrieved from https://etfiq.com/compare/buffer/aprt-vs-papr
[APRT against PAPR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/aprt-vs-papr)
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