Innovator U.S. Small Cap Power Buffer ETF - April
$39.36−0.11 (−0.27%)
- 0.79%
- $179M
- +16.0%
- 0M sh
- $39.51
- low $33.77high $40.49
The ETF.net KAPR Grade
C
Score 50 out of 100
- 6 of 21
Score 50 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.D35 out of 100Rank 9 of 21Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B65 out of 100Rank 4 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C54 out of 100Rank 9 of 21Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A85 out of 100Rank 2 of 21
Our read on KAPR
CSmall caps are the bumpiest ride in US equities. KAPR straps a cushion to them: it tracks the Russell 2000 ETF across an April-to-March outcome period, absorbing the first 15% of losses in exchange for a ceiling on the upside.
The fund seeks to follow the return of IWM up to a predetermined cap while protecting investors from the first 15% of losses during the outcome period, before fees and expenses.
Why people hold it
- The buffer is the whole point: over each outcome period the fund aims to absorb the first 15% of the Russell 2000 ETF's decline, before fees and expenses.innovatoretfs.com
- Costs 0.79% a year, level with Innovator's other small-cap buffer months and below the 0.90% charged by FT Vest's small-cap buffer funds (SMAY, SNOV).
- April is your anchor: the period runs April 1 to March 31 with a fresh cap each spring, and sibling funds on other months (KJAN, KJUL, KOCT) let you stagger start dates.
- Running since 2020 inside a plain 1940 Act ETF wrapper holding options, not a bank-issued note, so the payoff shape doesn't ride on one issuer's credit.innovatoretfs.com
Worth knowing
- Thinly traded next to the heavyweights of the buffer world, so spreads deserve a look, and the stated buffer and cap apply to holders who own it start to finish of a period.innovatoretfs.com
- Upside stops at the cap struck each April, and the 15% cushion is measured before the 0.79% fee. Buy mid-period and you inherit whatever cap and remaining buffer exist that day.innovatoretfs.com
- Options do the work instead of shares, so Russell 2000 dividends don't flow through and the fund has not been making regular distributions.innovatoretfs.com
KAPR Holdings
- Stocks
- 3
- 103%
- Iwm 03/31/2027 2.48 C
Sectors
- Health Care20.9%
- Financials18.0%
- Technology14.4%
- Industrials13.4%
- Consumer Discretionary8.6%
- Real Estate6.5%
- Energy6.3%
- Materials4.3%
- Utilities2.7%
- Consumer Staples2.6%
- Communication2.3%
KAPR Performance
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.
KAPR$11,597
Returns run to the Oct 12, 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.
| Period | KAPR |
|---|---|
| Year to date | +12.3% |
| 1 month | −1.3% |
| 3 months | −0.7% |
| 1 year | +16.0% |
| 3 years | +14.5% |
| 5 years | +7.5% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | KAPR |
|---|---|---|
| 2026 YTD | +12.3% | |
| 2025 | +7.4% | |
| 2024 | +12.1% | |
| 2023 | +15.3% | |
| 2022 | −8.1% | |
| 2021 | +2.5% | |
| 2020 | +21.2% |
KAPR in the news
KAPR Dividends
No distributions in the last 12 months.
KAPR Risk
- 10.6%
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.
- 0.85
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.
- −16.9%
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.
- 0.60
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
KAPR Cost
0.79%
KAPR0.79%
- The middle half of Russell 2000 Buffer 15% funds
- Median 0.74%
8 of the 14 Russell 2000 Buffer 15% funds charge less.
Other funds in Russell 2000 Buffer 15%
- BQBKVAIM ETF Products Trust - Allianzim U.S. Small Cap Buffer5 ETFExpense ratio 0.74%1 year return —
- CKOCTInnovator U.S. Small Cap Power Buffer ETFExpense ratio 0.79%1 year return +14.8%
- CKJULInnovator Russell 2000 Power Buffer ETF - JulyExpense ratio 0.79%1 year return +7.1%
- CKJANInnovator U.S. Small Cap Power Buffer ETF - JanuaryExpense ratio 0.79%1 year return +14.2%
- CRBProShares Trust - ProShares Russell 2000 Dynamic Buffer ETFExpense ratio 0.58%1 year return +15.5%