Key stats
About Innovator Equity Managed 100 Buffer ETF
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Inception date
May 12, 2025
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Innovator Capital Management LLC
Distributor
Foreside Fund Services LLC
ISIN
US45784N6195
BFRZ aims to provide 40 to 50% upside exposure to the S&P 500 Index, with one-third of the volatility and a target of 1 to 3% for annual maximum loss. BFRZ differentiates itself by holding physical equities, allowing potential dividends to pass through to shareholders. The underlying portfolio is systematically managed to pursue the same profile but with less than 70% overlap in holdings with the S&P 500 Index. The portfolio also holds quarterly laddered 10% in-the-money puts on the S&P 500 and writes bi-weekly covered calls. The scatter plot forms a smile, indicating that the fund, compared to the S&P, may experience limited upside participation but may also gain by avoiding significant losses in a market drawdown. The fund continuously rolls the option contracts, therefore, it does not have a stated outcome period. This making it crucial to know that the entry/exit point for trading the shares is at the end of each calendar quarter.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Electronic Technology
Technology Services
Finance
Stocks95.74%
Electronic Technology22.98%
Technology Services21.82%
Finance13.49%
Retail Trade7.83%
Health Technology6.89%
Consumer Non-Durables3.18%
Consumer Durables2.84%
Producer Manufacturing2.66%
Energy Minerals2.28%
Utilities2.18%
Consumer Services1.99%
Industrial Services1.57%
Transportation1.13%
Communications0.90%
Non-Energy Minerals0.89%
Distribution Services0.82%
Process Industries0.81%
Commercial Services0.77%
Health Services0.70%
Bonds, Cash & Other4.26%
Cash2.14%
Rights & Warrants2.12%
Stock breakdown by region
North America98.29%
Europe1.52%
Latin America0.19%
Asia0.00%
Africa0.00%
Middle East0.00%
Oceania0.00%
Top 10 holdings
Dividends
Dividend payout history
Assets under management (AUM)
Fund Flows
Frequently Asked Questions
BFRZ invests in stocks. The fund's major sectors are Electronic Technology, with 22.98% stocks, and Technology Services, with 21.82% of the basket. The assets are mostly located in the North America region.
BFRZ top holdings are NVIDIA Corporation and Apple Inc., occupying 7.44% and 6.46% of the portfolio correspondingly.
BFRZ last dividends amounted to 0.02 USD. The quarter before, the issuer paid 0.01 USD in dividends, which shows a 21.42% increase.
BFRZ assets under management is 51.56 M USD. It's risen 23.57% over the last month.
BFRZ fund flows account for 49.69 M USD (1 year). Many traders use this metric to get insight into investors' sentiment and evaluate whether it's time to buy or sell the fund.
Yes, BFRZ pays dividends to its holders with the dividend yield of 0.24%. The last dividend (Oct 2, 2025) amounted to 0.02 USD. The dividends are paid quarterly.
BFRZ shares are issued by Innovator Capital Management LLC under the brand Innovator. The ETF was launched on May 12, 2025, and its management style is Active.
BFRZ expense ratio is 0.89% meaning you'd have to pay 0.89% of your investment to help manage the fund.
BFRZ follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
BFRZ invests in stocks.
BFRZ trades at a premium (0.17%) meaning the ETF is trading at a higher price than the calculated NAV.