FTLS vs ZAPR
First Trust Long/Short Equity ETF vs Innovator Equity Defined Protection ETF - 1 Yr April
Which is better, FTLS or ZAPR?
FTLS has been ahead.
ZAPR has a lower expense ratio. FTLS led over 1Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FTLS | ZAPR |
|---|---|---|
| Expense Ratio | 1.38% | 0.79%Best |
| AUM | $2.7B | $68M |
| Dividend Yield | 0.87% | 0.00% |
| Holdings | 363 | 21 |
| YTD Return | +9.83%Best | +5.06% |
| 1Y Return | +13.43%Best | +6.36% |
| 3Y Return (annualized) | +14.42% | - |
| 5Y Return (annualized) | +10.59% | - |
| Volatility (annualized) | 5.3% | 1.1%Best |
| Max Drawdown | -6.2% | -1.7%Best |
| $10,000 over 1.5 years | $12,234Best | $11,037 |
| Fund Family | First Trust Portfolios (US) | Innovator ETFs Trust |
| Category | Alternative | Alternative |
| Style | Multi Alternative | Multi Alternative |
| Inception | Sep 8, 2014 | Apr 1, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.5 years row, are measured over the window both funds cover: Apr 1, 2025 to Oct 14, 2026 (1.5 years).
FTLS vs ZAPR growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 1.5 years both funds cover.
FTLS vs ZAPR Performance
First Trust Long/Short Equity ETF (FTLS) is an ETF from First Trust Portfolios (US) and Innovator Equity Defined Protection ETF - 1 Yr April (ZAPR) is an ETF from Innovator ETFs Trust. Over the past year FTLS returned +13.43% while ZAPR returned +6.36%. Year to date, FTLS is up 9.83% versus a gain of 5.06% for ZAPR.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FTLS has been the more volatile fund, with annualized monthly volatility of 5.3% compared with 1.1% for ZAPR. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.2% for FTLS and -1.7% for ZAPR. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.64. They move together some of the time, and apart the rest.
Fees and Cost Over Time
FTLS charges 1.38% per year while ZAPR charges 0.79%. On a $10,000 position that is $138 vs $79 annually, a gap of $59 per year that compounds over a long holding period. On income, FTLS currently yields 0.87% against 0.00% for ZAPR.
Holdings Overlap
We hold position weights for 507 holdings in FTLS and 1 in ZAPR, totalling 94.2% and 112.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 507 positions we hold weights for in FTLS and 1 in ZAPR, against full books of 363 and 21.
You are not choosing between two funds in isolation.
Whichever of FTLS and ZAPR you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FTLS or ZAPR?
FTLS has an expense ratio of 1.38% while ZAPR charges 0.79%. ZAPR is the cheaper option, by $59 a year on a $10,000 investment.
Which performed better, FTLS or ZAPR?
Over the past year FTLS returned +13.43% vs +6.36% for ZAPR, so FTLS leads on 1-year performance. Over the longest common window we track (2 years), FTLS annualized +14.39% vs +6.80% for ZAPR. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTLS or ZAPR?
FTLS has been the more volatile fund at 5.3% annualized versus 1.1% for ZAPR. Worst drawdown: FTLS -6.2% vs ZAPR -1.7%.
Should I hold both FTLS and ZAPR?
FTLS and ZAPR have a monthly-return correlation of 0.64, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, FTLS or ZAPR?
FTLS yields 0.87% while ZAPR yields 0.00%, so FTLS currently pays the higher dividend yield.
Is ZAPR better than FTLS?
ZAPR has a lower expense ratio. FTLS led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.