Innovator Index Autocallable Income Strategy ETF
$25.40+0.04 (+0.16%)
- 0.79%
- $147M
- +10.9%
- 0.1M sh
- $25.30
- low $24.35high $26.87
The ETF.net ACII Grade
C
Score 41 out of 100
- 16 of 24
Score 41 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F17 out of 100Rank 20 of 24Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A81 out of 100Rank 2 of 24Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C40 out of 100Rank 16 of 24Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B68 out of 100Rank 10 of 24
Our read on ACII
CWall Street's autocallable note, unpacked into an ETF: a ladder of swaps tied to the S&P 500, Russell 2000 and Nasdaq-100, paying income while the indexes hold up, with losses tracking the worst one if a barrier breaks.
The Fund is designed to generate substantial income while offering potential downside-loss mitigation.
Why people hold it
- Autocallable payoffs normally arrive as bank-issued notes. Here the exposure sits inside a 1940 Act ETF that trades on an exchange any market day.
- The swaps are laddered rather than struck all at once, so coupon and barrier terms get set at staggered dates instead of hinging on one entry point.
- Built for cash flow: Innovator's product materials set a monthly distribution schedule, funded by the coupons the autocallable swaps generate.innovatoretfs.com
- Actively managed against three of the most widely followed U.S. equity benchmarks, so the manager can reset references and terms as market conditions change.
Worth knowing
- Worst-of math: the downside keys off the weakest of the three indexes, not the average. The swaps are OTC contracts, so bank counterparty exposure comes along.
- 0.79% a year, versus 0.65% at REX's ATCL, the other autocallable-income ETF in this peer set.
- Launched in 2025, so the track record is short. Payouts can vary period to period and the fund discloses that distributions may include return of capital.
ACII Holdings
- Other
- 4
- 100%
- United States Treasury Bill 10/29/2026
ACII Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.Not enough history yet.
ACII$11,095
Returns run to the Oct 12, 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.
| Period | ACII |
|---|---|
| Year to date | +6.0% |
| 1 month | +0.5% |
| 3 months | +1.4% |
| 1 year | +10.9% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | ACII |
|---|---|---|
| 2026 YTD | +6.0% | |
| 2025 | +3.3% |
ACII in the news
Category Review
The largest alternatives fund has no one-year record
ACII Dividends
- $0.21 per share
- Monthly
Distribution data unavailable.
Distribution history
ACII Risk
- 3.7%
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.
- 1.55
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.
- −2.3%
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.
- 0.23
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ACII Cost
0.79%
ACII0.79%
- The middle half of Other Index Option Income funds
- Median 0.73%
19 of the 24 Other Index Option Income funds charge less.
Other funds in Other Index Option Income
- CXVSimplify Target 15 Distribution ETFExpense ratio 0.75%1 year return +10.3%
- CDOGGFT Vest DJIA Dogs 10 Target Income ETFExpense ratio 0.75%1 year return +17.4%
- CPAYMTrueShares S&P Autocallable Defensive Income ETFExpense ratio 0.74%1 year return —
- CDYLGGlobal X - Dow 30 Covered Call & Growth ETFExpense ratio 0.35%1 year return +15.8%
- CSFYISoFi Social 50 Income ETFExpense ratio 0.73%1 year return —