NAPRInnovator Nasdaq-100 Power Buffer ETF - April
Seeks to provide capital appreciation and buffered returns against losses of the Underlying ETF over the Outcome Period, with specific caps on positive and inverse performance returns.
By Innovator ETFs · Launched 2020
0.79%
#4,047 of 5,562 · expensive
$224M
#2,223 of 5,562 · mid-size
+17.9%
6 years
#2,072 of 5,562 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightAsset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Objective
- Seeks to provide capital appreciation and buffered returns against losses of the Underlying ETF over the Outcome Period, with specific caps on positive and inverse performance returns.
- Strategy
- Invests primarily in instruments providing exposure to the Underlying ETF, aiming to replicate its performance over the Outcome Period. Seeks to provide positive returns regardless of the Underlying ETF's price movement, subject to an Upside Cap of 9.56% to 11.06% before fees. If the Underlying ETF's losses exceed the Inverse Performance Threshold, the Fund aims to provide returns matching the absolute value of those losses, capped at 15%.
- Inception date
- March 31, 2020
- Fund family
- Innovator ETFs
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
Buffer ETF — downside protection at a cost
Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.
Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)
Why we flagged this: strategy=structured_outcome + structured_outcome_strategy
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
What's next?
You've reviewed NAPR. Save it to your watchlist to track it alongside the other funds you're weighing.
Data updated on 2026-06-20