# XBAP (Innovator U.S. Equity Accelerated 9 Buffer ETF - Apr)

Innovator · Buffer ETFs · data as of Sep 21, 2026

As of Sep 21, 2026, XBAP has reached its cap.

## Key facts

- XBAP, past the cap, price drift left: 4.4%, as of Sep 21, 2026.
- XBAP, fall before the buffer: 9.3%, as of Sep 21, 2026.
- XBAP, protection left, index points: 9.0%, as of Sep 21, 2026.
- XBAP, days to reset: 191, as of Sep 21, 2026.
- XBAP, net assets: $128m (issuer page, as of Sep 18, 2026).
- XBAP, expense ratio: 0.79% (issuer page, Sep 21, 2026).

## XBAP over each window to Sep 21, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.7% | +2.3% | +0.4 pts |
| 6 months | +9.8% | +18.0% | −8.3 pts |
| 1 year | +13.7% | +16.6% | −2.9 pts |
| 3 years | +46.3% | +78.4% | −32.1 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 9% | ETFIQ |
| Outcome period | Mar 31, 2026 to Mar 31, 2027 | ETFIQ |
| Starting cap | +15.0% | ETFIQ |
| SPY return since period start | +19.0% | ETFIQ |
| Fund return since period start | +9.8% | ETFIQ |
| Net assets | $128m | issuer page, as of Sep 18, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 4.4% | issuer, fund price |
| Fall before buffer | 9.3% | issuer, fund price |
| Fall to the buffer in index terms | 16.0% | ETFIQ |
| Protection left in index points | 9.0% of 9.0% | ETFIQ |
| Days left in period | 191 | ETFIQ |
| Expense ratio | 0.79% | issuer page, Sep 21, 2026 |

## Questions

### How much can XBAP still gain?

Nothing more in index terms on Sep 21, 2026. SPY has already passed the cap of +15.0% for this period, which runs from Mar 31, 2026 to Mar 31, 2027.

### How far can XBAP fall before the buffer helps?

9.3% in fund-price terms on Sep 21, 2026, by the issuer's figure. In index terms SPY can fall 16.0% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the XBAP buffer is left?

9.0% of the 9.0% buffer sat below the SPY level on Sep 21, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does XBAP reset?

The outcome period ends on Mar 31, 2027, 191 days from the data on Sep 21, 2026. A new cap is set the next day and the buffer starts again.

### What does XBAP cost?

The prospectus expense ratio is 0.79% a year.


## Cite this page

ETFIQ, XBAP, data as of Sep 21, 2026. https://etfiq.com/funds/xbap
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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