# Innovator Equity Defined Protection ETF – 1 Yr May (ZMAY) — Overview

ZMAY · BATS · Fund

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

## Price

Last close $26.47 on Oct 15, 2026. 52-week range $25.11 – $26.47.

## Fund profile

ZMAY seeks to track the return of the SPDR S&P 500 ETF Trust (SPY), to a cap, with 100% downside hedge over a one-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 | Apr 30, 2025 |
| Assets under management | $82.5M |
| Expense ratio | 0.79% |
| Net asset value | $26.42 (as of Oct 14, 2026) |
| Distributions | Annually |
| Leverage | 1x |

## Frequently Asked Questions

### What is Innovator Equity Defined Protection ETF – 1 Yr May (ZMAY)?

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

### What is ZMAY's expense ratio?

Innovator Equity Defined Protection ETF – 1 Yr May charges an annual expense ratio of 0.79%. The fund is issued by Innovator.

### How large is ZMAY?

Innovator Equity Defined Protection ETF – 1 Yr May manages $82.5M in assets and has traded since Apr 30, 2025.

### How do I buy shares of Innovator Equity Defined Protection ETF – 1 Yr May (ZMAY)?

ZMAY 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).