# Innovator U.S. Equity Accelerated 9 Buffer ETF (XBAP): ETF Facts & Distributions

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- Issuer: Innovator · Asset class: Equity
- Strategy: Buffered · Inception: 2021-04-01

The Innovator U.S. Equity Accelerated 9 Buffer ETF is designed to provide investors with double (2x) the upside performance of the SPDR S&P 500 ETF Trust (SPY), subject to an upper limit, while also offering approximately single exposure to any market downturns, all within a specific one-year outcome period. A key feature of this ETF is its embedded protection, safeguarding investors against the first 9% of losses experienced during that same annual cycle. Although its performance targets and downside buffer reset each year at the end of the outcome period, the fund is suitable for continuo...

## Key Facts

| Metric | Value |
|---|---|
| Price | $43.26 |
| Expense Ratio | 0.79% |
| Assets Under Management | $128.5M |
| NAV | $43.18 |
| Holdings Count | 7 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $37.79 – $43.29 |
| Beta | 0.34 |

## Frequently Asked Questions

### What does XBAP invest in?

The Innovator U.S. Equity Accelerated 9 Buffer ETF is designed to provide investors with double (2x) the upside performance of the SPDR S&P 500 ETF Trust (SPY), subject to an upper limit, while also offering approximately single exposure to any market downturns, all within a specific one-year outcome period. A key feature of this ETF is its embedded protection, safeguarding investors against the first 9% of losses experienced during that same annual cycle. Although its performance targets and downside buffer reset each year at the end of the outcome period, the fund is suitable for continuous, indefinite ownership.

### What is the expense ratio of XBAP?

Innovator U.S. Equity Accelerated 9 Buffer ETF (XBAP) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is XBAP?

Innovator U.S. Equity Accelerated 9 Buffer ETF (XBAP) manages $128.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

### Is XBAP actively managed or an index fund?

XBAP's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

### When was XBAP launched?

Innovator U.S. Equity Accelerated 9 Buffer ETF (XBAP) launched in April 2021 and is managed by Innovator.

### How has XBAP performed?

XBAP's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.

### Does XBAP pay a dividend?

Innovator U.S. Equity Accelerated 9 Buffer ETF (XBAP) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab.

### How often does XBAP pay dividends?

Innovator U.S. Equity Accelerated 9 Buffer ETF pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page.

### What is XBAP's dividend yield?

XBAP's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is XBAP's next ex-dividend date?

XBAP hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page.

### How much will XBAP's expense ratio cost me over 30 years?

On a $10,000 investment compounding at 7% gross return, a 0.79% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees.

### How does XBAP charge its expense ratio?

The expense ratio is deducted in tiny daily slices from XBAP's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price.

### Why does XBAP cost more than a fund like VOO?

XBAP's strategy (current expense ratio 0.79%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where XBAP sits within its own category, which is the comparison that actually matters.

### Are there cheaper alternatives to XBAP?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as XBAP (0.79%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want.

## More on Dividend Data

- Overview (HTML): https://www.dividenddata.com/funds/xbap
- Distribution history: https://www.dividenddata.com/funds/xbap/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/xbap/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/xbap/expenses
- Peer comparison: https://www.dividenddata.com/funds/xbap/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.