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Launched · SEC filings

Innovator Premium Income 20 Barrier ETF

APRHCboeInnovatorD

$24.850.00 (+0.02%)

As of Nov 2, 2026, 3:55 PM ET

D33/ 100

Rank 21 of 24 in S&P 500 Buffer 20%

D33/100Rank 21 of 24inS&P 500 Buffer 20%
Intraday session: flat, 77 prints from 24.85 to 24.85. Range 24.85 to 24.89. Use the arrow keys to read each point.24.8624.8724.8810 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$25M
1Y total return
+7.5%
Yield · Last 12 months
7.48%
Holdings
4
Avg volume · 30D
4.57K sh
52W range
low $24.48high $25.57
Launched
Filings
SEC EDGAR

The ETF.net APRH Grade

Based on 4 of 6 pillars

D

Score 33 out of 100

Category
S&P 500 Buffer 20%⁠
Rank
21 of 24
Six-pillar profile for APRH. Scores out of 100: Cost 4, Risk 75, Mission not scored, Tradability 45, Holdings not scored, Durability 46. Strongest: Risk (75). Weakest: Cost (4). Based on 4 of 6 pillars.

Score 33 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F4 out of 100
    Rank 22 of 24

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    A75 out of 100
    Rank 1 of 23

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C45 out of 100
    Rank 15 of 24

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C46 out of 100
    Rank 17 of 24

Our read on APRH

ETF.net Research

In short

DMost defined-outcome ETFs sell you a buffer. APRH sells income: a distribution rate fixed at the start of each roughly one-year outcome period, paid quarterly, sitting on a 20% barrier against S&P 500 price declines.

Stated mandate

The Fund seeks high income over approximately one-year Outcome Periods through a Defined Distribution Rate, while exposing investors to S&P 500 losses that exceed a 20% Barrier.

Why people hold it

  • Income is the product, not a byproduct. Each outcome period opens with a stated Defined Distribution Rate, paid out quarterly.
  • The 20% barrier is written into the fund's terms, so you know the downside trigger point on the S&P 500 price index before you own a share.
  • The options package and the annual reset happen inside a 1940 Act ETF, running on this April schedule since 2023. No collar to build or roll yourself.

Worth knowing

  • Barrier, not buffer. If the index ends an outcome period more than 20% down, you take the whole decline, not just the slice past 20%.
  • Your upside is that period's distribution rate; index gains above it stay behind. Payouts can include return of capital, meaning some of your own money back.
  • At 0.79% a year it carries a higher fee than other 20% downside peers, such as PBFR at 0.50% and PSFM at 0.49%.

APRH Performance

Launched Apr 3, 2023

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.
APRH$10,755
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. APRH $10,755. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for APRH. Periods over one year show the average yearly return.
PeriodAPRH
Year to date+6.5%
1 month+0.2%
3 months+1.1%
1 year+7.5%
3 yearsper year+7.5%
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for APRH
YearReturn barAPRH
2026 YTD+6.5%
2025+7.0%
2024+6.9%
2023+7.0%

Since listing, Apr 3, 2023

APRH in the news

APRH Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
7.48%Last 12 months
Payout per share
$1.86Last 12 months
Last payment
$0.52 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2023–2026

One bar per payment. 14 payments from 2023 to 2026 YTD. Jun 29, 2023 $0.49; Sep 28, 2023 $0.49; Dec 28, 2023 $0.49; Mar 27, 2024 $0.49; Jun 28, 2024 $0.40; Sep 30, 2024 $0.40; Dec 31, 2024 $0.40; Mar 31, 2025 $0.40; Jun 30, 2025 $0.41; Sep 30, 2025 $0.41; Dec 31, 2025 $0.41; Mar 31, 2026 $0.41; Jun 30, 2026 $0.52; Sep 30, 2026 $0.52. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 30, 2026Oct 2, 2026$0.52
Jun 30, 2026Jul 1, 2026$0.52
Mar 31, 2026Apr 1, 2026$0.41
Dec 31, 2025Jan 2, 2026$0.41
Sep 30, 2025Oct 2, 2025$0.41
Jun 30, 2025Jul 1, 2025$0.41
Mar 31, 2025Apr 1, 2025$0.40
Dec 31, 2024Jan 2, 2025$0.40
Sep 30, 2024Oct 4, 2024$0.40
Jun 28, 2024Jul 1, 2024$0.40
Mar 27, 2024Apr 1, 2024$0.49
Dec 28, 2023Jan 2, 2024$0.49

See all 14 payments⁠

$10,000 in APRH 3 years ago paid $2,114 in dividends.⁠

APRH Risk

Risk pillarA75 out of 100Rank 1 of 23 in S&P 500 Buffer 20%
How much the fund’s monthly returns vary, scaled to a year.
2.1%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.32
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−5.9%
42 months · trough Apr 2025
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.13
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

APRH Cost

Compare APRH and PSFD

Overpaying vs PSFD, tied cheapest in S&P 500 Buffer 20%

$5,382

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • APRH 0.79%

    $15,174

  • PSFD 0.49% Tied cheapest

    $9,792

$10,000
30 years

Cost over time

  • APRH 0.79%
  • PSFD 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530APRH $15,174PSFD $9,792

Year by year

YearAPRHPSFDOverpaying
10$1,405$883$522
20$5,331$3,394$1,937
30$15,174$9,792$5,382

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