Innovator Equity Defined Protection ETF - 1… (ZMAY) Performance
ZMAY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +3.8% since Dec 31, 2025
- 1 year
- +4.9% total return
- Since first price
- +8.7% since 2025
ZMAY trailing returns vs SPY, QQQ, AGG
| Period | ZMAY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.2% | +0.2% | −1.0% | −5.0% | +0.9% |
| 3 months | +1.6% | +1.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +2.5% | +2.5% | +7.8% | +8.4% | −1.5% |
| YTD | +3.8% | +3.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +4.9% | +4.9% | +14.4% | +15.9% | −1.1% |
| Since inceptionMay 1, 2025 | +8.7% | +8.7% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: ZMAY vs SPY
From May 1, 2025: ZMAY grew to $10,866, SPY to $13,834.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
ZMAY returns by calendar year
2026 is year to date.
ZMAY annual returns table
| Year | ZMAY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +3.8% | −0.7% | +12.3% | +15.1% | −1.0% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
ZMAY risk statistics
| Statistic | Since 2025 |
|---|---|
| Annualized return | +5.6% |
| Volatility (annualized) | 0.9% |
| Sharpe ratio | 1.94 |
| Sortino ratio | 4.75 |
| Best month | +0.9% |
| Worst month | −0.1% |
| Best 12 months | +6.1% |
| Worst 12 months | +5.0% |
| Positive months | 94% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
ZMAY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 6 | +4.8% | +5.1% | +6.1% | 100% |
Every holding period starting at a month-end since 2025. Returns for 3 years and longer are annualized.
ZMAY performance overview
Innovator Equity Defined Protection ETF - 1… (ZMAY) returned +4.9% over the past year, with distributions reinvested. Since its first recorded price on May 1, 2025 it has returned +8.7%. Over the same year S&P 500 (SPY) returned +14.4%.
Related: ZMAY chart. See the ZMAY overview for the latest quote and fund facts.
ZMAY performance FAQ
What is the ZMAY return over the past year?
ZMAY returned +4.9% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 4.9%.
How much would $10,000 invested in ZMAY be worth?
$10,000 invested in ZMAY at its first recorded close on May 1, 2025 would be worth about $10,866 on October 23, 2026 with distributions reinvested.
How volatile is ZMAY?
Over the past history ZMAY had an annualized volatility of 0.9% and a Sharpe ratio of 1.94 (excess return over 1–3 month T-bills per unit of risk).