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The Fund employs a "defined outcome strategy." Defined outcome strategies seek to produce pre-determined investment outcomes based upon the performance of an underlying security or index. The pre-determined outcomes sought by the Fund, which include the buffer and cap discussed below ("Outcomes"), are based upon the performance of an ETF that tracks the returns, before fees and expenses, of the S&P 500 Index (the "Underlying ETF"). The Fund invests in FLexible EXchange Options ("FLEX Options") that reference the Underlying ETF and, as further described in this prospectus, may invest directly in the Underlying ETF or in the constituents of the Underlying ETF, to produce the Outcomes. FLEX Options are customizable exchange-traded option contracts guaranteed for settlement by the Options Clearing Corporation (the "OCC"). The Fund seeks to replicate the performance of the Underlying ETF over the duration of the Outcome Period, subject to the following pre-determined Outcomes Fund shareholders are subject to an upside return cap (the "Cap") that represents the maximum percentage return an investor can achieve from an investment in the Fund over the duration of the Outcome Period.
Innovator Equity Defined Protection ETF - 2 Yr To April 2028 trades on the BATS stock market under the symbol AAPR.
As of July 21, 2026, AAPR stock price climbed to $29.51 with 3,841 million shares trading.
AAPR has a market cap of $72.31 million. This is considered a Micro Cap stock.
AAPR has underperformed the market in the last year with a return of +7.8%, while the SPY ETF gained +20.4%. In the last 3 month period, AAPR fell short of the market, returning +0.6%, while SPY returned +5.9%. However, in the most recent 2 weeks AAPR has outperformed the stock market by returning -0.1%, while SPY returned -0.4%.
AAPR support price is $29.43 and resistance is $29.56 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that AAPR shares will trade within this expected range on the day.