Innovator Equity Defined Protection ETF - 1 Yr April (ZAPR) 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 ZAPR. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to ZAPR
ZAPR charges 0.79% annually. There are 94 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | ZAPR vs JANB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | ZAPR vs APRB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | ZAPR vs JULB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | ZAPR vs OCTB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | ZAPR vs FBUF |
Best Risk-Adjusted Alternatives to ZAPR
ZAPR has a PortfoliosLab risk / return rank of 98. There are 3 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 | ZAPR vs PMAP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | ZAPR vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | ZAPR vs CPSP | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | ZAPR vs CPRA | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 132.07M | Mar 2021 | ZAPR vs XBAP |
Top Performing ZAPR Alternatives (YTD)
ZAPR is at 4.00% YTD. There are 199 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 | ZAPR vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 14.64% | 2.87M | Jun 2025 | ZAPR vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 14.50% | — | Jan 2025 | ZAPR vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.86% | 214.27M | Mar 2020 | ZAPR vs KAPR | |
| Innovator U.S. Small Cap Power Buffer ETF - March | 12.74% | — | Feb 2025 | ZAPR vs KMAR |
Lowest Volatility Alternatives to ZAPR
ZAPR has 1.48% 1-year volatility. There are 5 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | ZAPR vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.34% | — | Apr 2025 | ZAPR vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | ZAPR vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | ZAPR vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | ZAPR vs MMAX |
Lowest Drawdown Alternatives to ZAPR
ZAPR has a 1-year max drawdown of -0.40%. There are 2 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 | ZAPR vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | ZAPR vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | ZAPR vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | ZAPR vs CPSM | |
| Innovator Premium Income 15 Buffer ETF - July | -0.52% | — | Jun 2024 | ZAPR vs LJUL |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, BUFF, SFLR and span 5 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 | 3.07% | 2.72B | Jun 2021 | ZAPR vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 91 | 6.78% | 923.55M | Oct 2016 | ZAPR vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 60 | 5.24% | 2.11B | Nov 2022 | ZAPR vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 51 | 15.52% | 200.31M | Jul 2018 | ZAPR vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 12.91% | 22.69M | Apr 2021 | ZAPR vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 88 | 6.55% | 1.44B | Jan 2019 | ZAPR vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 12.27% | 403.09M | Mar 2019 | ZAPR vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 85 | 6.88% | 963.46M | Sep 2018 | ZAPR vs POCT | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 90 | 6.18% | 1.25B | Aug 2018 | ZAPR vs PJUL | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 48 | 3.44% | 524.31M | Jan 2024 | ZAPR vs QFLR |
Often Compared With ZAPR
Investors most often compare ZAPR with DMAX, ZDEK, ZOCT. These 20 comparison targets span 3 categories, based on PortfoliosLab usage data.
Compare ZAPR with Any Fund or Stock
Compare ZAPR with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair ZAPR with funds that move differently
Innovator Equity Defined Protection ETF - 1 Yr April alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to ZAPR.
Explore ZAPR Diversifiers