AMAX vs ZAPR

Comparison between ADAPTIVE HEDGED MULTI-ASSET INCOME ETF (AMAX, ETF) and Innovator Equity Defined Protection ETF 1 Yr April (ZAPR, ETF).

AMAX vs ZAPR - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	AMAX(ETF)	ZAPR(ETF)
Net Assets	$65M	$65M
Expense Ratio	1.36%	0.79%
Max Drawdown	28.31%	1.72%
Sharpe Ratio	0.18	1.63
5Y Beta	0.38	0.11

Net Assets

Winner

AMAX

$65M

ZAPR

$65M

Expense Ratio

AMAX

1.36%

Winner

ZAPR

0.79%

Max Drawdown

AMAX

28.31%

Winner

ZAPR

1.72%

Sharpe Ratio

AMAX

0.18

Winner

ZAPR

1.63

5Y Beta

AMAX

0.38

Winner

ZAPR

0.11

AMAX vs ZAPR - Historical Returns

Returns include dividend reinvestment.

Period	AMAX	ZAPR
1 month	-0.33%	+0.49%
3 months	-4.31%	+0.96%
6 months	-4.84%	+3.27%
1 year	+3.84%	+6.10%
5 years(CAGR)	+2.77%	N/A
Max(CAGR)	+2.77%	+6.80%

AMAX

-0.33%

Winner

ZAPR

+0.49%

AMAX

-4.31%

Winner

ZAPR

+0.96%

AMAX

-4.84%

Winner

ZAPR

+3.27%

AMAX

+3.84%

Winner

ZAPR

+6.10%

5Y(CAGR)

AMAX

+2.77%

ZAPR

N/A

Max(CAGR)

AMAX

+2.77%

Winner

ZAPR

+6.80%

AMAX vs ZAPR - Annual Returns (2021 - 2026)

Returns include dividend reinvestment.

Year	AMAX	ZAPR
2026	+0.12%	+3.49%
2025	+10.82%	+5.29%
2024	+10.07%	N/A
2023	+6.91%	N/A
2022	-12.46%	N/A
2021	-0.20%	N/A

AMAX vs ZAPR Drawdown Comparison

The maximum drawdown for AMAX was -16.26%, occurring on Oct 14, 2022. Recovery took 595 trading sessions.

The maximum drawdown for ZAPR was -1.72%, occurring on Apr 8, 2025. Recovery took 18 trading sessions.

The current AMAX drawdown is -6.59%. The current ZAPR drawdown is -0.21%.

Rank	AMAX	ZAPR
#1	-16.26% Nov 17, 2021 - Apr 3, 2024	-1.72% Apr 2, 2025 - Apr 29, 2025
#2	-9.26% Feb 19, 2025 - May 14, 2025	-0.48% May 15, 2025 - Jun 4, 2025
#3	-7.51% Jan 28, 2026 - May 8, 2026	-0.40% Nov 12, 2025 - Nov 25, 2025
#4	-6.96% May 11, 2026 - Jun 30, 2026	-0.38% May 29, 2026 - Jun 15, 2026
#5	-5.73% Jul 17, 2024 - Aug 19, 2024	-0.30% Jun 15, 2026 - Jun 30, 2026
#6	-5.38% Oct 20, 2025 - Jan 22, 2026	-0.23% Apr 17, 2026 - Apr 28, 2026
#7	-3.54% Apr 3, 2024 - May 20, 2024	-0.22% Oct 6, 2025 - Oct 20, 2025
#8	-2.95% Dec 11, 2024 - Jan 22, 2025	-0.22% Oct 27, 2025 - Nov 10, 2025
#9	-2.23% Nov 8, 2024 - Dec 11, 2024	-0.21% Jan 9, 2026 - Jan 22, 2026
#10	-2.01% Jan 31, 2025 - Feb 19, 2025	-0.21% Feb 10, 2026 - Feb 24, 2026
#11	-2.00% Jan 22, 2025 - Jan 31, 2025	-0.21% Jul 15, 2026 - Jul 23, 2026
#12	-1.89% Jun 13, 2025 - Jul 2, 2025	-0.20% Jun 18, 2025 - Jun 23, 2025
#13	-1.69% May 20, 2025 - Jun 6, 2025	-0.20% May 2, 2025 - May 12, 2025
#14	-1.62% May 20, 2024 - Jun 17, 2024	-0.18% Jun 12, 2025 - Jun 18, 2025
#15	-1.62% Jun 20, 2024 - Jul 9, 2024	-0.17% May 18, 2026 - May 21, 2026