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Launched

Innovator Nasdaq 100 Power Buffer ETF - April

NAPRCboeInnovatorC

$59.95−0.26 (−0.43%)

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

C52/ 100

Rank 5 of 20 in Nasdaq-100 Buffer 15%

C52/100Rank 5 of 20inNasdaq-100 Buffer 15%
Intraday session: down, 79 prints from 60.21 to 59.95. Range 59.95 to 60.58. Use the arrow keys to read each point.60.1060.3060.4060.5060.6010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$205M
1Y total return
+13.5%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
5.42K sh
52W range
low $49.25high $61.37
Launched

The ETF.net NAPR Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
Nasdaq-100 Buffer 15%⁠
Rank
5 of 20
Six-pillar profile for NAPR. Scores out of 100: Cost 39, Risk 64, Mission not scored, Tradability 58, Holdings not scored, Durability 79. Strongest: Durability (79). Weakest: Cost (39). 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.
    D39 out of 100
    Rank 8 of 20

  • 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.
    B64 out of 100
    Rank 5 of 20

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B58 out of 100
    Rank 10 of 20

  • 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.
    A79 out of 100
    Rank 4 of 20

Our read on NAPR

ETF.net Research

In short

CA one-year seatbelt on the Nasdaq-100. NAPR aims to absorb the first 15% of losses in the Nasdaq-100 ETF it references over each April-to-March stretch, in exchange for a ceiling on gains that is reset every April.

Stated mandate

The Fund seeks to track the return of the Invesco QQQ Trust (QQQ), subject to a predetermined upside cap and protection against the first 15% of losses during the outcome period.

Why people hold it

  • Deep cushion by design: the structure targets the first 15 percentage points of reference-ETF losses over the outcome period, so you take the hit only past that line.innovatoretfs.com
  • It rolls instead of expiring. Every April 1 the buffer resets and a fresh cap is struck for the next twelve months, so the position keeps running without you rebuilding it.innovatoretfs.com
  • Running since 2020, this April vintage has several completed outcome periods behind it, back when defined-outcome funds were still a curiosity rather than a shelf.
  • The 0.79% fee sits right at the median for Nasdaq-100 buffer funds, and the overall build lands in the upper half of that peer group.

Worth knowing

  • The cushion is paid for with a ceiling. Upside is capped at a level struck each April, so a blistering Nasdaq year above that cap is return you watch rather than collect.innovatoretfs.com
  • Terms are built for the full April-to-March period. Buy mid-period and your personal cushion and ceiling differ from the headline numbers, sometimes a lot.innovatoretfs.com
  • Mid-pack on cost, not cheap: PBQQ runs 0.50% and the Calamos Nasdaq-100 series 0.69%. Shares also trade thinly, which can widen the spread at the point of entry.

NAPR 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.
NAPR$11,350
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. NAPR $11,350. 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 NAPR. Periods over one year show the average yearly return.
PeriodNAPR
Year to date+12.1%
1 month−1.1%
3 months+2.1%
1 year+13.5%
3 yearsper year+13.0%
5 yearsper year+9.4%
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 NAPR
YearReturn barNAPR
2026 YTD+12.1%
2025+6.6%
2024+13.3%
2023+30.6%
2022−12.1%
2021+9.1%
2020+15.9%

Since listing, Apr 1, 2020

NAPR in the news

NAPR Dividends

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

No distributions in the last 12 months.

NAPR Risk

Risk pillarB64 out of 100Rank 5 of 20 in Nasdaq-100 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
7.2%
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.
1.13
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.
−16.5%
Trough Oct 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.
0.48
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.

NAPR Cost

Compare NAPR and QQMY

Overpaying vs QQMY, tied cheapest in Nasdaq-100 Buffer 15%

$9,025

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

  • NAPR 0.79%

    $15,174

  • QQMY 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • NAPR 0.79%
  • QQMY 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$20K051015202530NAPR $15,174QQMY $6,149

Year by year

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

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