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IAPR

GradeCNew York Stock Exchange Arca

Innovator Intl Developed Power Buffer ETF

Buffered · Innovator · Inception 2021-04-01

$33.73−0.30 (−0.88%)

As of Sep 23, 2026, 3:09 PM EDT

Intraday session: down, 46 prints from 34.03 to 33.73. Range 33.68 to 34.03. Use the arrow keys to read each point.$33.80$33.90$34.0010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$198M
1Y return
+13.4%
Yield · Last 12 months
—
Holdings
6
Volume · 30D
0M sh
NAV per share
$33.72
52W range
low $29.70high $34.32

The ETF.net IAPR Grade

C

49/ 100

Rank 8 of 26 in Developed International Buffer 15%⁠

Confidence Medium

Six-pillar profile for IAPR. Scores out of 100: Cost 38, Risk 63, Mission not scored, Tradability 49, Holdings not scored, Durability 86. Strongest: Durability (86). Weakest: Cost (38). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 49 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    DScore 38
    Category rank11/26 · top 42%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 63
    Category rank4/23 · top 17%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 49
    Category rank16/26 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 86
    Category rank2/26 · top 8%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on IAPR

ETF.net Research

CBuffer ETFs are overwhelmingly an S&P 500 game. IAPR runs the same playbook on developed international stocks: EAFE-linked upside to a preset cap, the first 15% of losses absorbed, and a fresh reset every April.

Stated mandate

The Fund seeks to track the performance of the iShares MSCI EAFE ETF over an approximately one-year outcome period, subject to a capped upside and protection against the first 15% of losses.

Why people hold it

  1. 01Buffer mechanics aimed at developed international stocks, not the S&P 500: FLEX options on the iShares MSCI EAFE ETF, absorbing the first 15% of losses each outcome period.innovatoretfs.com
  2. 02Built to be held indefinitely. The cap and buffer reset at the start of each April outcome period, so there is no forced roll into a different product every year.innovatoretfs.com
  3. 030.85% a year, dead on the median for its buffer peer group. Defined-outcome funds cost more than plain index trackers, and this one sits at the middle of that shelf, not the pricey end.
  4. 04A standard 1940 Act ETF, with the FLEX options settled through the Options Clearing Corporation rather than resting on one bank's balance sheet the way a structured note does.innovatoretfs.com

Worth knowing

  1. 01The 15% buffer and the cap are measured from the first day of the outcome period. Buy mid-period and you inherit whatever cushion and upside remain, not the headline terms.innovatoretfs.com
  2. 02Upside stops at the cap, and the fund owns options rather than the underlying shares, so overseas dividends do not reach you as income.innovatoretfs.com
  3. 03Trades thinly next to the biggest buffer funds, so the bid-ask spread is a larger slice of what it costs to get in and back out.

IAPR Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
103%
Largest holding
EFA 03/31/2027 0.97 C100.8%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—EFA 03/31/2027 0.97 C100.80%18,642$195M1
002—EFA 03/31/2027 97.13 P1.64%18,642$3M1
003—US BANK MMDA - USBGFS 9 09/01/20370.20%377,716$378K161

Showing 1–3 of 3 holdings

IAPR Performance

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

IAPR$11,337
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. IAPR $11,337. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 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 IAPR. Periods over one year show the average yearly return.
PeriodIAPR
Year to date+10.4%
1 month−0.3%
3 months+2.0%
1 year+13.4%
3 years+11.8%per year
5 years+5.7%per year
10 yearsFund is under 10 years old—per year

As of the close, 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 IAPR
YearReturn barIAPR
2026 YTD+10.4%
2025+15.5%
2024+3.8%
2023+7.7%
2022−7.6%
2021+2.7%

Since listing, Apr 1, 2021

IAPR in the news

ETF.net Research hasn’t filed on IAPR yet — coverage lands here as it’s written.

IAPR Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

IAPR Risk

How much the fund’s monthly returns vary, scaled to a year.
6.5%
Annualised · 36 months to Aug 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.
1.00
vs 3-month T-bills · to Aug 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.
−17.7%
Trough Sep 2022
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.
0.33
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.

IAPR Cost

Expense ratio0.85%
  • The middle half of Developed International Buffer 15% funds
  • Median 0.85%

10 of the 26 Developed International Buffer 15% funds charge less.

IAPR costs $85.00 a year on $10,000. The median Developed International Buffer 15% fund costs $85.00.