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%
#4,215 of 5,861 · expensive
$210M
#2,322 of 5,861 · mid-size
+14.2%
6 years
#2,027 of 5,861 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
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
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 funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04