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ACEI

GradeDNew York Stock Exchange Arca

Innovator Equity Autocallable Income Strategy ETF

Option Income · Innovator · Inception 2025-09-25

$23.89−0.07 (−0.31%)

As of Sep 23, 2026, 2:12 PM EDT

History starts Sep 25, 2025.History starts Sep 25, 2025.
Intraday session: down, 10 prints from 23.97 to 23.89. Range 23.84 to 24.08. Use the arrow keys to read each point.$24.00$24.1010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$50M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
12
Volume · 30D
0M sh
NAV per share
$23.63
52W range
low $22.14high $27.32

The ETF.net ACEI Grade

D

25/ 100

Rank 12 of 16 in S&P 500 Active Option Income⁠

Confidence Medium

Six-pillar profile for ACEI. Scores out of 100: Cost 17, Risk 25, Mission not scored, Tradability 34, Holdings not scored, Durability 54. Strongest: Durability (54). Weakest: Cost (17). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 25 of 100 sits in the D band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    FScore 17
    Category rank13/16 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 25
    Category rank11/12 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 34
    Category rank11/16 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 54
    Category rank11/16 · mid-pack

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on ACEI

ETF.net Research

DAutocallable notes are a private-bank staple: big coupons, a call trigger, conditional downside cushion. ACEI ladders swaps that replicate that payoff on S&P 500 stocks and puts it in an ETF you can trade any day.

Stated mandate

The Fund seeks high income and potential to limit downside losses through a laddered portfolio of OTC swaps designed to replicate autocallable notes on common-stock reference assets selected from a U.S. equity index, currently the S&P 500 Index.

Why people hold it

  1. 01Packages a payoff normally sold one note at a time: an actively managed, laddered book of OTC swaps replicating autocallable notes on S&P 500 stocks.innovatoretfs.com
  2. 02At 0.79%, it charges below the median fee in its active options-income cohort, which is unusual for a strategy this hands-on.
  3. 03Built to distribute monthly, with exposures laddered across many reference stocks instead of riding one note and one maturity date.
  4. 04Lives in a standard 1940 Act ETF wrapper: daily dealing and fund-level rules, versus the hold-to-maturity bank paper it mimics.innovatoretfs.com

Worth knowing

  1. 01Launched in 2025, so the track record is short and any read on its risk behavior rests on limited history.
  2. 02Small asset base and thin trading, which can mean wider spreads than the household-name income funds beside it.
  3. 03Income tracks OTC swap payoffs and their counterparty terms, not the S&P 500's path, and no target yield is stated, so payout sizes vary.

ACEI Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Other
Holdings
12
Top-10 weight
107%
Largest holding
United States Treasury Bill 09/29/2026105.0%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—United States Treasury Bill 09/29/2026105.04%54,000,000$54M34
002—US BANK MMDA - USBGFS 9 09/01/20371.18%607,809$608K161
003—NVDA AUTOCALL 20290.24%5,375,000$124K1
004—Cash & Other0.14%69,862$70K674
005—AAPL AUTOCALL 3-29-290.12%5,375,000$64K1
006—LLY AUTOCALL 08-31-290.09%5,375,000$45K1

Showing 1–6 of 6 holdings

ACEI Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

ACEI$10,583
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. ACEI $10,583. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for ACEI. Periods over one year show the average yearly return.
PeriodACEI
Year to date+5.8%
1 month+3.8%
3 months+5.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for ACEI
YearReturn barACEI
2026 YTD+5.8%
2025+0.8%

Since listing, Sep 25, 2025

ACEI in the news

ACEI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.26 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 10 payments from 2025 to 2026 YTD. Nov 28, 2025 $0.28; Dec 31, 2025 $0.24; Jan 30, 2026 $0.24; Feb 27, 2026 $0.24; Mar 31, 2026 $0.24; Apr 30, 2026 $0.24; May 29, 2026 $0.24; Jun 30, 2026 $0.29; Jul 31, 2026 $0.26; Aug 31, 2026 $0.26. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Aug 31, 2026Sep 1, 2026$0.26
Jul 31, 2026Aug 3, 2026$0.26
Jun 30, 2026Jul 1, 2026$0.29
May 29, 2026Jun 1, 2026$0.24
Apr 30, 2026May 1, 2026$0.24
Mar 31, 2026Apr 1, 2026$0.24
Feb 27, 2026Mar 2, 2026$0.24
Jan 30, 2026Feb 2, 2026$0.24
Dec 31, 2025Jan 2, 2026$0.24
Nov 28, 2025Dec 1, 2025$0.28

ACEI Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Sep 2025; fills in after 12 months
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Sep 2025; fills in after 12 months
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
—
Launched Sep 2025; fills in after 12 months
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.58
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

ACEI Cost

Expense ratio0.79%
  • The middle half of S&P 500 Active Option Income funds
  • Median 0.55%

11 of the 15 S&P 500 Active Option Income funds charge less.

ACEI costs $79.00 a year on $10,000. The median S&P 500 Active Option Income fund costs $55.00.