ZAPR ETF — Innovator Equity Defined Protection ETF - 1 Yr April

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

Updated October 16, 2026.

ZAPR is an ETF. its expense ratio is 0.79%. Total return is 10.6% over the past 1.5 years, 27.7 points behind SPY at 38.3%.

This ETF invests at least 80% of its assets in FLEX Options (customizable exchange-traded option contracts) that reference the State Street SPDR S&P 500 ETF Trust, offering exposure to S&P 500 equities through derivatives rather than direct stock ownership. The fund does not currently distribute income, and carries an expense ratio of 0.79%. It may appeal to sophisticated options traders and those seeking equity exposure through alternative derivative structures rather than traditional buy-and-hold investors.

ZAPR performance versus SPY

Price and return data through 2026-10-16.

Total return is 10.6% over the past 1.5 years, 27.7 points behind SPY at 38.3%. Over the past year its total return — price change plus distributions reinvested — is 6.4%. Its deepest 1-year drawdown was 0.4%.

ZAPR key facts

Issuer

Innovator ETFs

Asset type

ETF

Asset class

Equity

Inception date

03/31/2025

Expense ratio

0.79%

Distribution frequency

None

Last close

$27.09 (as of 2026-10-16)

AUM

$67,735,965

Average volume

3490.0

Beta

0.0766

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Innovator ETFs; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

ZAPR risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 0.4%.

Who may consider ZAPR — and who may not

It is a weaker fit for investors who need monthly cash flow (ZAPR does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on ZAPR

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Frequently asked questions

More securities from Innovator ETFs.