# ZAPR (Innovator Equity Defined Protection ETF - 1 Yr April)

Innovator · Buffer ETFs · data as of Sep 11, 2026

As of Sep 11, 2026, ZAPR has reached its cap.

## Key facts

- ZAPR, past the cap, price drift left: 3.3%, as of Sep 11, 2026.
- ZAPR, fall before the buffer: 3.7%, as of Sep 11, 2026.
- ZAPR, protection left, index points: 100.0%, as of Sep 11, 2026.
- ZAPR, days to reset: 201, as of Sep 11, 2026.
- ZAPR, net assets: $67m (issuer page, as of Sep 11, 2026).
- ZAPR, expense ratio: 0.79% (issuer page, Sep 11, 2026).

## ZAPR over each window to Sep 11, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +1.4% | +3.3% | −1.9 pts |
| 6 months | +3.7% | +16.0% | −12.3 pts |
| 1 year | +6.1% | +17.5% | −11.4 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 100% | ETFIQ |
| Outcome period | Mar 31, 2026 to Mar 31, 2027 | ETFIQ |
| Starting cap | +7.3% | ETFIQ |
| SPY return since period start | +17.5% | ETFIQ |
| Fund return since period start | +3.5% | ETFIQ |
| Net assets | $67m | issuer page, as of Sep 11, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 3.3% | issuer, fund price |
| Fall before buffer | 3.7% | issuer, fund price |
| Fall to the buffer in index terms | 14.9% | ETFIQ |
| Protection left in index points | 100.0% of 100.0% | ETFIQ |
| Days left in period | 201 | ETFIQ |
| Expense ratio | 0.79% | issuer page, Sep 11, 2026 |

## Questions

### How much can ZAPR still gain?

Nothing more in index terms on Sep 11, 2026. SPY has already passed the cap of +7.3% for this period, which runs from Mar 31, 2026 to Mar 31, 2027.

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

3.7% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 14.9% from that level before the buffer begins. Losses until that point are the holder's.

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

100.0% of the 100.0% buffer sat below the SPY level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does ZAPR reset?

The outcome period ends on Mar 31, 2027, 201 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.

### What does ZAPR cost?

The prospectus expense ratio is 0.79% a year.


## Cite this page

ETFIQ, ZAPR, data as of Sep 11, 2026. https://etfiq.com/funds/zapr
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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