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Launched · SEC filings

Innovator Premium Income 30 Barrier ETF

APRJCboeInnovatorC

$24.70+0.01 (+0.04%)

As of Nov 2, 2026, 3:59 PM ET

C41/ 100

Rank 39 of 52 in S&P 500 Option Income

C41/100Rank 39 of 52inS&P 500 Option Income
Intraday session: up, 78 prints from 24.68 to 24.70. Range 24.68 to 24.73. Use the arrow keys to read each point.24.6824.6924.7024.7124.7210 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$27M
1Y total return
+6.0%
Yield · Last 12 months
6.17%
Holdings
4
Avg volume · 30D
4.01K sh
52W range
low $24.47high $25.20
Launched
Filings
SEC EDGAR

The ETF.net APRJ Grade

Based on 4 of 6 pillars

C

Score 41 out of 100

Category
S&P 500 Option Income⁠
Rank
39 of 52
Six-pillar profile for APRJ. Scores out of 100: Cost 31, Risk 82, Mission not scored, Tradability 21, Holdings not scored, Durability 39. Strongest: Risk (82). Weakest: Tradability (21). Based on 4 of 6 pillars.

Score 41 of 100 falls in the C 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.
    D31 out of 100
    Rank 34 of 52

  • 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.
    A82 out of 100
    Rank 3 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F21 out of 100
    Rank 46 of 52

  • 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.
    D39 out of 100
    Rank 41 of 52

Our read on APRJ

ETF.net Research

In short

CMost income ETFs sell calls and let the payout float with volatility. APRJ sets its distribution rate up front for each outcome period, pays quarterly, and puts a 30% barrier between S&P 500 price losses and the fund's value.

Stated mandate

The fund seeks to provide a defined distribution rate over each outcome period, while limiting exposure to S&P 500 Price Return Index losses up to a 30% barrier; losses beyond that barrier reduce the fund's value.

Why people hold it

  • The income is defined, not discovered: a target rate set at the start of each outcome period, paid quarterly, so the schedule is known before you own it.
  • The 30% barrier is a deep line by design. S&P 500 price losses up to it don't reduce the fund's value; the protection is written into the outcome period, not hoped for.
  • Payout comes from a defined-outcome options contract on the index rather than month-to-month call premiums, so it isn't set by whatever volatility happens to pay that quarter.

Worth knowing

  • At 0.79%, it runs above the 0.60% median for S&P 500 income funds, and cheaper peers exist (IVVW at 0.25%, RSPA at 0.32%, BALI at 0.35%).
  • A barrier is a cliff, not a cushion: once index losses pass 30%, the fund's value takes the hit, and the reference is a price index, so dividends aren't in the math.
  • Part of the distribution can be return of capital (your own money back), and the fund is small and lightly traded, so limit orders earn their keep.

APRJ Holdings

Asset class
Stocks
Holdings
4
Top-10 weight
108%
Largest holding
United States Treasury Bill 03/18/202799.0%

Sectors

  • Technology38.7%
  • Financials12.1%
  • Communication9.5%
  • Consumer Discretionary9.3%
  • Health Care9.3%
  • Industrials7.8%
  • Consumer Staples4.5%
  • Energy3.5%
  • Utilities2.0%
  • Real Estate1.8%
  • Materials1.7%

Geography

  • United States99.53%
  • Switzerland0.25%
  • China0.09%
  • Mexico0.06%
  • Ireland0.04%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUnited States Treasury Bill 03/18/202799.00%27,319,600$26.9M34
2No dataSpx 03/31/2027 4504.58 P7.68%1,243$2.09M1
3No dataUnited States Treasury Bill 12/24/20261.71%466,400$464K38
4No dataUs Bank Mmda - Usbgfs 9 09/01/2037<0.01%1,418$1.42K163

Showing 1–4 of 4 holdings

APRJ 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.
APRJ$10,599
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. APRJ $10,599. 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 APRJ. Periods over one year show the average yearly return.
PeriodAPRJ
Year to date+5.0%
1 month+0.4%
3 months+1.1%
1 year+6.0%
3 yearsper year+6.1%
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 APRJ
YearReturn barAPRJ
2026 YTD+5.0%
2025+5.7%
2024+6.2%
2023+5.4%

Since listing, Apr 3, 2023

APRJ in the news

APRJ 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.
6.17%Last 12 months
Payout per share
$1.52Last 12 months
Last payment
$0.43 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 $0.40; Sep 28, 2023 $0.40; Dec 28, 2023 $0.40; Mar 27, 2024 $0.40; Jun 28, 2024 $0.35; Sep 30, 2024 $0.35; Dec 31, 2024 $0.35; Mar 31, 2025 $0.35; Jun 30, 2025 $0.33; Sep 30, 2025 $0.33; Dec 31, 2025 $0.35; Mar 31, 2026 $0.33; Jun 30, 2026 $0.43; Sep 30, 2026 $0.43. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Sep 30, 2026Oct 2, 2026$0.43
Jun 30, 2026Jul 1, 2026$0.43
Mar 31, 2026Apr 1, 2026$0.33
Dec 31, 2025Jan 2, 2026$0.35
Sep 30, 2025Oct 2, 2025$0.33
Jun 30, 2025Jul 1, 2025$0.33
Mar 31, 2025Apr 1, 2025$0.35
Dec 31, 2024Jan 2, 2025$0.35
Sep 30, 2024Oct 4, 2024$0.35
Jun 28, 2024Jul 1, 2024$0.35
Mar 27, 2024Apr 1, 2024$0.40
Dec 28, 2023Jan 2, 2024$0.40

See all 14 payments⁠

$10,000 in APRJ 3 years ago paid $1,766 in dividends.⁠

APRJ Risk

Risk pillarA82 out of 100Rank 3 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
1.4%
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.
1.03
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.
−4.7%
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.
0.07
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.

APRJ Cost

Compare APRJ and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$13,068

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

  • APRJ 0.79%

    $15,174

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • APRJ 0.79%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530APRJ $15,174PEPS $2,106

Year by year

YearAPRJPEPSOverpaying
10$1,405$183$1,222
20$5,331$717$4,614
30$15,174$2,106$13,068

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