- What does AAPR invest in?
- AAPR invests all its assets in FLEX options. The option positions are structured in a way that aims to provide long exposure to US large-cap stocks, up to a cap, while fully hedging downside risk over a two-year period. The upside cap and hedge are reset every other year, at the beginning of April. Shareholders should note they will not receive any dividends, the objective focuses on potential growth. The specific defined outcome pursued may only be possible if an investor were to hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome of the strategy pursued will be realized by investors. When factoring risks, potential reward, and the all-in costs for such a strategy, AAPR is considered an alternative to more expensive fixed indexed annuities, market linked CDs, holding near-term Treasury, or cash. For comparative purposes, AAPR investors need to double the stated expense ratio of the fund.
- What is the expense ratio of AAPR?
- Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to April 2028 (AAPR) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations.
- What is the duration of AAPR?
- Effective duration measures AAPR's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. AAPR's current duration is published on the fund's factsheet on the issuer's website.
- What is the credit quality of AAPR?
- AAPR's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.
- What is the yield to maturity of AAPR?
- Yield to maturity (YTM) is the total return you'd earn from AAPR if every bond in the portfolio is held to maturity at the current price. AAPR's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.
- How big is AAPR?
- Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to April 2028 (AAPR) manages $71.2M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.
