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The Innovator Equity Defined Protection ETF seeks to track the return of the SPDR S&P ETF Trust (SPY), up to a predetermined cap, while buffering investors against the first of losses over the outcome period before fees and expenses. The ETF can be held indefinitely, resetting at the end of each outcome period. The Fund will invest substantially all of its assets in FLexible EXchange Options ("FLEX Options") on the SPDR S&P 500 ETF Trust (the "Underlying ETF"). FLEX Options are customizable exchange-traded option contracts guaranteed for settlement by the Options Clearing Corporation. The Fund uses FLEX Options to employ 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 the Underlying ETF over an approximately one-year period from April 1 through March 31 of the following year (the "Outcome Period"). The initial Outcome Period is from April 1, 2025 through March 31, 2026.
Innovator Equity Defined Protection ETF - 1 Yr April trades on the BATS stock market under the symbol ZAPR.
As of December 22, 2025, ZAPR stock price climbed to $25.77 with 111 million shares trading.
ZAPR has a market cap of $38.01 million. This is considered a Sub-Micro Cap stock.
ZAPR support price is $25.71 and resistance is $25.80 (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 ZAPR shares will trade within this expected range on the day.
