ZMARvsSPYETF Comparison
ETF 1
ZMAR
Innovator Equity Defined Protection (1Y March) ETF
This fund is part of
Options Strategies
+0.26%
VS
Innovator Equity Defined Protection (1Y March) ETF (ZMAR) belongs to the Options Strategies segment. State Street SPDR S&P 500 ETF Trust (SPY) is part of the US Large Cap segment. Both ETFs have the same top 3 sector exposures: Information Technology, Financials and Communication Services. ZMAR is more expensive with a Total Expense Ratio (TER) of 0.79%, versus 0.0945% for SPY. ZMAR is up 1.87% year-to-date (YTD) with +$39M in YTD flows. SPY performs better with 5.03% YTD performance, and -$15.98B in YTD flows. Run a side-by-side ETF comparison of ZMAR and SPY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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ZMAR vs SPY performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 04/24/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | ZMAR SPY | +1.96%+9.35% | +1.39%+3.38% | +1.87%+5.03% | +8.97%+32.12% | n/a+79.90% | n/a+83.17% |
| Flows | ZMAR SPY | +$32M+$18.80B | +$44M-$1.28B | +$39M-$15.98B | +$18M-$13.62B | -+$50.15B | -+$72.63B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | ZMAR SPY | +2.76%+15.22% | +2.24%+12.45% | n/a+14.95% | n/a+16.92% |
| Max drawdown | ZMAR SPY | -1.24%-8.89% | -1.24%-8.89% | n/a-18.74% | n/a-24.50% |
| Max drawdown duration | ZMAR SPY | 38d76d | 38d76d | n/a126d | n/a708d |
Trading data
ZMAR | SPY | |
Last sale 4/27/2026 at 1:30 PM | $27.97 | $715.17 |
| Previous close 04/24/2026 | $27.99 | $713.94 |
| Consolidated volume 04/24/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of March 31, 2026
1-year trailing difference
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ZMAR
is actively managed and doesn’t replicate an indexZMAR | SPY | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 4/27/2026 at 1:30 PM
Live
Closed
ZMAR | SPY | |
|---|---|---|
| Last price | $27.97 | $715.17 |
| 1D performance | -0.05% | +0.17% |
| AuM | $132.33 M | $729.23 B |
| E/R | 0.79% | 0.0945% |
Characteristics
ZMAR | SPY | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | Innovator | State Street Investment Management |
| Benchmark | - | S&P 500 Index |
| N° of holdings | 478 | 478 |
| Asset class | - | Equities |
| Trailing 12m distribution yield | Join | Join |
| Inception date | March 3, 2025 | January 22, 1993 |
| ESG | No | No |
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Exposure
Countries
ZMAR
USA
88.95%
Other
11.05%
SPY
USA
96.95%
Other
3.05%
Sectors
ZMAR
Information Techn.
31.17%
Financials
9.42%
Communication Ser.
9.41%
Consumer Discreti.
9.21%
Health Care
8.57%
Industrials
7.65%
Other
24.57%
SPY
Information Techn.
33.93%
Financials
10.39%
Communication Ser.
10.23%
Consumer Discreti.
10.01%
Health Care
9.32%
Industrials
8.33%
Other
17.78%
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Diversification
ZMAR
Total weight of top 15 holdings out of 15
38.99%
SPY
Total weight of top 15 holdings out of 15
42.5%
Top 15 holdings
Data as of March 31, 2026
ZMAR
NVIDIA
6.97%
APPLE
6.12%
MICROSOFT-T
4.52%
AMAZON.COM INC
3.34%
ALPHABET INC-CL
2.75%
BROADCOM LIMITED
2.41%
ALPHABET INC-CL
2.20%
META PLATFORMS
2.06%
TESLA
1.72%
BERKSHIRE HATHWAY
1.44%
JPMORGAN CHASE
1.23%
LILLY
1.20%
EXXON
1.17%
JOHNSON&JOHNSON
0.97%
WALMART INC
0.90%
SPY
NVIDIA
7.58%
APPLE
6.66%
MICROSOFT-T
4.91%
AMAZON.COM INC
3.64%
ALPHABET INC-CL
2.99%
BROADCOM LIMITED
2.62%
ALPHABET INC-CL
2.40%
META PLATFORMS
2.24%
TESLA
1.87%
BERKSHIRE HATHWAY
1.57%
JPMORGAN CHASE
1.42%
LILLY
1.30%
EXXON
1.27%
JOHNSON&JOHNSON
1.05%
WALMART INC
0.97%
Frequently asked questions about ZMAR and SPY
How have the ZMAR and SPY ETFs performed in 2026?
As of April 24, 2026, ZMAR is up 1.87% year-to-date (YTD), while SPY has returned 5.03%. That puts SPY better performer ahead so far this year.
Which ETF is attracting more investor money: ZMAR or SPY?
Year-to-date, the ZMAR ETF saw +$39M in flows, compared to -$15.98B for SPY.
Which ETF is more volatile: ZMAR or SPY?
Over the past year, ZMAR had a volatility of 2.24%, while SPY experienced 12.45%.
Which ETF is bigger: ZMAR or SPY?
As of April 24, 2026, ZMAR holds $132.33 M in assets under management (AUM), while SPY manages $729.23 B.
What sectors do the ZMAR and SPY ETFs invest in?
ZMAR leans toward sectors like Information Technology, Financials and Communication Services. Meanwhile, SPY focuses on Information Technology, Financials and Communication Services.
What are the top holdings of the ZMAR ETF and SPY ETF?
ZMAR top holdings include NVIDIA, APPLE and MICROSOFT-T. SPY holds in its top three: NVIDIA, APPLE and MICROSOFT-T.
Which ETF is more diversified: ZMAR or SPY?
ZMAR holds 503 securities with 38.99% of its assets in the top 15. SPY has 502 securities and a top 15 weight of 42.5%.
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