Innovator U.S. Equity Accelerated 9 Buffer ETF - April (XBAP) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with XBAP. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to XBAP
XBAP charges 0.79% annually. There are 92 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | XBAP vs OCTB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | XBAP vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | XBAP vs JULB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | XBAP vs JANB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | XBAP vs FBUF |
Best Risk-Adjusted Alternatives to XBAP
XBAP has a PortfoliosLab risk / return rank of 98. There are 4 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | XBAP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | XBAP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | XBAP vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | XBAP vs ZAPR | |
| Innovator U.S. Equity Power Buffer ETF - April | 98 | 954.02M | Apr 2019 | XBAP vs PAPR |
Top Performing XBAP Alternatives (YTD)
XBAP is at 8.92% YTD. There are 32 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | XBAP vs NVDO | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.68% | — | Jan 2025 | XBAP vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.02% | 214.51M | Mar 2020 | XBAP vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 12.77% | 568.10M | Mar 2021 | XBAP vs QMAR | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 12.67% | 2.84M | Jun 2025 | XBAP vs QB |
Lowest Volatility Alternatives to XBAP
XBAP has 3.57% 1-year volatility. There are 70 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.15%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.15% | — | Mar 2025 | XBAP vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.24% | — | Apr 2025 | XBAP vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.31% | — | Apr 2025 | XBAP vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.34% | 19.60M | Apr 2025 | XBAP vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.42% | — | Mar 2025 | XBAP vs MMAX |
Lowest Drawdown Alternatives to XBAP
XBAP has a 1-year max drawdown of -1.30%. There are 24 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | XBAP vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 19.60M | Apr 2025 | XBAP vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | XBAP vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | XBAP vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | XBAP vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, FFTY, BUFF and span 6 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator Defined Wealth Shield ETF | Defined Outcome | 96 | 2.68% | 2.68B | Jun 2021 | XBAP vs BALT | |
| Innovator IBD 50 ETF | Large Cap Growth Equities | 25 | 14.13% | 89.40M | Apr 2015 | XBAP vs FFTY | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 89 | 6.22% | 891.58M | Oct 2016 | XBAP vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 57 | 5.58% | 2.12B | Nov 2022 | XBAP vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 59 | 21.45% | 221.95M | Jul 2018 | XBAP vs LOUP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 83 | 5.87% | 1.47B | Jan 2019 | XBAP vs PJAN | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 12.05% | 22.82M | Apr 2021 | XBAP vs XTAP | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 11.46% | 404.39M | Mar 2019 | XBAP vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 87 | 5.51% | 1.12B | Aug 2018 | XBAP vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 56 | 5.37% | 543.68M | Jan 2024 | XBAP vs QFLR |
Often Compared With XBAP
Investors most often compare XBAP with SPY, VOO, XBJA. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare XBAP with Any Fund or Stock
Compare XBAP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair XBAP with funds that move differently
Innovator U.S. Equity Accelerated 9 Buffer ETF - April alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to XBAP.
Explore XBAP Diversifiers