Skip to content
etf.net

Launched

Innovator U.S. Small Cap Power Buffer ETF - April

KAPRCboeInnovatorC

$39.61−0.02 (−0.05%)

At close: Nov 2, 2026, 4:00 PM ET

C52/ 100

Rank 5 of 21 in Russell 2000 Buffer 15%

C52/100Rank 5 of 21inRussell 2000 Buffer 15%
Intraday session: down, 78 prints from 39.63 to 39.61. Range 39.61 to 39.95. Use the arrow keys to read each point.39.7039.8039.9010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$178M
1Y total return
+15.0%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
16.8K sh
52W range
low $33.77high $40.49
Launched

The ETF.net KAPR Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
Russell 2000 Buffer 15%⁠
Rank
5 of 21
Six-pillar profile for KAPR. Scores out of 100: Cost 40, Risk 63, Mission not scored, Tradability 57, Holdings not scored, Durability 84. Strongest: Durability (84). Weakest: Cost (40). Based on 4 of 6 pillars.

Score 52 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.
    C40 out of 100
    Rank 8 of 21

  • 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.
    B63 out of 100
    Rank 4 of 21

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B57 out of 100
    Rank 9 of 21

  • 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.
    A84 out of 100
    Rank 3 of 21

Our read on KAPR

ETF.net Research

In short

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.

Stated mandate

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 Performance

Launched Apr 1, 2020

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$11,504
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. KAPR $11,504. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 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 KAPR. Periods over one year show the average yearly return.
PeriodKAPR
Year to date+12.8%
1 month+0.5%
3 months−0.3%
1 year+15.0%
3 yearsper year+15.5%
5 yearsper year+7.3%
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 KAPR
YearReturn barKAPR
2026 YTD+12.8%
2025+7.4%
2024+12.1%
2023+15.3%
2022−8.1%
2021+2.5%
2020+21.2%

Since listing, Apr 1, 2020

KAPR in the news

KAPR Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

KAPR Risk

Risk pillarB63 out of 100Rank 4 of 21 in Russell 2000 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
10.2%
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.
−16.9%
Trough Jun 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.
0.60
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.

KAPR Cost

Compare KAPR and SCAU

Overpaying vs SCAU, tied cheapest in Russell 2000 Buffer 15%

$9,025

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

  • KAPR 0.79%

    $15,174

  • SCAU 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • KAPR 0.79%
  • SCAU 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KAPR $15,174SCAU $6,149

Year by year

YearKAPRSCAUOverpaying
10$1,405$545$860
20$5,331$2,113$3,218
30$15,174$6,149$9,025

Other funds in Russell 2000 Buffer 15%

See others