# Innovator Equity Defined Protection ETF – 2 Yr to April 2027 (TAPR) — Overview

TAPR · BATS · Fund

Canonical page: https://www.lighthorse.io/tickers/tapr

## Price

Last close $26.91 on Oct 15, 2026. 52-week range $25.53 – $26.92.

## Fund profile

TAPR seeks to track the return of the SPDR S&P 500 ETF Trust (SPY), to a cap, with 100% downside hedge over a two-year outcome period. The actively managed fund holds FLEX options to obtain exposure. The fund aims to outperform cash holdings.

| Metric | Value |
| --- | --- |
| Issuer | Innovator |
| Industry | — |
| Inception | Mar 31, 2025 |
| Assets under management | $10.8M |
| Expense ratio | 0.79% |
| Net asset value | $26.92 (as of Oct 14, 2026) |
| Distributions | Annually |
| Leverage | 1x |

## Frequently Asked Questions

### What is Innovator Equity Defined Protection ETF – 2 Yr to April 2027 (TAPR)?

TAPR seeks to track the return of the SPDR S&P 500 ETF Trust (SPY), to a cap, with 100% downside hedge over a two-year outcome period. The actively managed fund holds FLEX options to obtain exposure. The fund aims to outperform cash holdings.

### What is TAPR's expense ratio?

Innovator Equity Defined Protection ETF – 2 Yr to April 2027 charges an annual expense ratio of 0.79%. The fund is issued by Innovator.

### How large is TAPR?

Innovator Equity Defined Protection ETF – 2 Yr to April 2027 manages $10.8M in assets and has traded since Mar 31, 2025.

### How do I buy shares of Innovator Equity Defined Protection ETF – 2 Yr to April 2027 (TAPR)?

TAPR trades commission-free with a Light Horse Securities brokerage account — from the mobile app, the web at [Light Horse Dashboard](https://portal.lighthorse.io), the trading API, or an [AI agent connected over MCP](/instructions/ai/claude). The trade panel on this page places the order once you are signed in.

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This page is for informational purposes only. Nothing on it is a recommendation, solicitation or offer to buy or sell any security, nor investment, legal or tax advice. Light Horse Securities Inc does not verify third-party data and is not responsible for its accuracy, completeness or timeliness.

Data provided by [AInvest](https://www.ainvest.com).