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XTAP

GradeBChicago Board Options Exchange

Innovator U.S. Equity Accelerated Plus ETF

Accelerated Upside · Innovator · Inception 2021-04-01

$46.77−0.09 (−0.19%)

As of Sep 23, 2026, 1:48 PM EDT

Intraday session: down, 40 prints from 46.87 to 46.77. Range 46.77 to 46.85. Use the arrow keys to read each point.$46.80$46.82$46.84$46.8610 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$19M
1Y return
+18.4%
Yield · Last 12 months
—
Holdings
5
Volume · 30D
0M sh
NAV per share
$46.64
52W range
low $39.33high $46.87

The ETF.net XTAP Grade

B

56/ 100

Rank 5 of 12 in S&P 500 Accelerated⁠

Confidence Medium

Six-pillar profile for XTAP. Scores out of 100: Cost 55, Risk 88, Mission not scored, Tradability 28, Holdings 56, Durability 60. Strongest: Risk (88). Weakest: Tradability (28). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 56 of 100 sits in the B 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.
    BScore 55
    Category rank5/12 · 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.
    AScore 88
    Category rank2/11 · top 18%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 28
    Category rank10/12 · bottom quartile

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 56
    Category rank4/4 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 60
    Category rank6/12 · top 50%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on XTAP

ETF.net Research

BMost equity funds hand you the market's move. XTAP aims to triple the S&P 500's gain over an April-to-March year, up to a cap, while taking declines roughly one for one. No buffer, no daily reset: you trade a ceiling for acceleration.

Stated mandate

The fund seeks three times the increase of its S&P 500-tracking Underlying ETF over the annual April 1–March 31 outcome period, subject to a cap. It bears Underlying ETF losses one-for-one and provides no buffer; the current period is April 1, 2026 through March 31, 2027, with a 19.47% pre-fee cap.

Why people hold it

  1. 01Triples the index's upside to a cap using options that reset each April 1. No daily reset, no compounding drift from holding through a choppy stretch, no borrowed money.innovatoretfs.com
  2. 02At 0.79% it sits at the going rate for accelerated funds and undercuts First Trust's enhance-and-buffer siblings on the same index (XMAR, XJUN) at 0.85%.
  3. 03Live since 2021 and built to roll: the fund resets at the end of each outcome period and can be held straight through, so there is no annual ticker swap.innovatoretfs.com
  4. 04One of the stronger implementations in its accelerated S&P 500 peer group on cost and structure.

Worth knowing

  1. 01The ceiling is the whole bargain. Upside stops at the cap, which is reset for each new period, and mid-period buyers get whatever cap is left rather than the headline number.innovatoretfs.com
  2. 02No buffer here. Index declines land on you roughly one for one, and the outcomes are designed around holding from the first day of the period to the last.innovatoretfs.com
  3. 03A small, lightly traded fund with no distributions in the past year, so wider spreads and a total-return-only profile come with the package.

XTAP Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
5
Top-10 weight
143%
Largest holding
VOO103.5%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001VOOVanguard S&P 500 ETF103.49%27,185$19M57
002—VOO 03/31/2027 597.57 C38.97%555$7M1
003—VOO 03/31/2027 621.47 C0.35%6$66K1
004—Cash & Other0.29%54,381$54K674
005—US BANK MMDA - USBGFS 9 09/01/20370.12%21,723$22K161

Showing 1–5 of 5 holdings

XTAP Performance

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

XTAP$11,838
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. XTAP $11,838. SPY $11,723. Use the arrow keys to read each point.$9,347$10,684$12,022Sep 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 XTAP. Periods over one year show the average yearly return.
PeriodXTAP
Year to date+15.2%
1 month+1.2%
3 months+3.8%
1 year+18.4%
3 years+18.4%per year
5 years+11.2%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 XTAP
YearReturn barXTAP
2026 YTD+15.2%
2025+17.6%
2024+14.2%
2023+23.5%
2022−14.7%
2021+11.9%

Since listing, Apr 1, 2021

XTAP in the news

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

XTAP Dividends

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

No distributions in the last 12 months.

XTAP Risk

How much the fund’s monthly returns vary, scaled to a year.
7.3%
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.
1.63
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.
−22.1%
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.
0.48
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.

XTAP Cost

Expense ratio0.79%
  • The middle half of S&P 500 Accelerated funds
  • Median 0.79%

3 of the 12 S&P 500 Accelerated funds charge less.

XTAP costs $79.00 a year on $10,000. The median S&P 500 Accelerated fund costs $79.00.