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BFRZ

GradeDNew York Stock Exchange Arca

Innovator Equity Managed 100 Buffer ETF

Buffered · Innovator · Inception 2025-05-13 · SEC filings

$27.16−0.12 (−0.44%)

As of Sep 23, 2026, 1:36 PM EDT

History starts May 13, 2025.
Intraday session: down, 14 prints from 27.28 to 27.16. Range 27.15 to 27.27. Use the arrow keys to read each point.$27.20$27.2510 AM12 PM2 PM4 PM
Expense ratio
0.89%
Fund size
$141M
1Y return
+3.4%
Yield · Last 12 months
0.26%
Holdings
188
Volume · 30D
0.1M sh
NAV per share
$27.04
52W range
low $23.63high $29.68

The ETF.net BFRZ Grade

D

34/ 100

Rank 15 of 18 in S&P 500 Laddered Buffer

Confidence Medium

Six-pillar profile for BFRZ. Scores out of 100: Cost 0, Risk 30, Mission not scored, Tradability 69, Holdings 92, Durability 30. Strongest: Holdings (92). Weakest: Cost (0). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 34 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 0
    Category rank18/18 · 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 30
    Category rank15/18 · bottom quartile
  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 69
    Category rank3/18 · top 17%
  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 92
    Category rank1/17 · top 6%
  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 30
    Category rank14/18 · bottom quartile

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

BFRZ Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Other
Holdings
188
Top-10 weight
40%
Largest holding
NVDA7.9%

Geography

  • United States98.60%
  • Ireland0.42%
  • Netherlands0.28%
  • Cayman Islands0.14%
  • United Kingdom0.14%
  • Australia0.14%
  • Switzerland0.08%
  • Bermuda0.07%
  • Other countries (2)0.10%
The fund’s holdings, weight-ordered — page 1 of 13.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001NVDANVIDIA Corp7.93%49,414$11M828
002AAPLApple Inc7.50%31,342$11M707
003MSFTMicrosoft Corp5.52%15,582$8M792
004AMZNAmazon.com Inc3.93%21,516$6M720
005GOOGLAlphabet Inc3.21%12,795$5M704
006AVGOBroadcom Inc2.67%10,436$4M732
007GOOGAlphabet Inc2.67%10,764$4M471
008METAMeta Platforms Inc2.50%4,784$4M683
009MUMicron Technology Inc1.99%2,693$3M655
010TSLATesla Inc1.81%6,815$3M509
011AMDAdvanced Micro Devices Inc1.74%3,998$2M618
012JPMJPMORGAN CHASE & CO.1.73%6,941$2M478
013SPXW US 06/30/27 P82501.65%44$2M1
014LLYEli Lilly & Co1.60%1,942$2M569
015BRK-BBerkshire Hathaway Inc1.22%3,455$2M359

Showing 1–15 of 186 holdings

BFRZ Performance

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

BFRZ$10,341
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BFRZ $10,341. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 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 BFRZ. Periods over one year show the average yearly return.
PeriodBFRZ
Year to date+1.8%
1 month+0.9%
3 months+1.1%
1 year+3.4%
3 yearsFund is under 3 years oldper year
5 yearsFund is under 5 years oldper year
10 yearsFund is under 10 years oldper 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 BFRZ
YearReturn barBFRZ
2026 YTD+1.8%
2025+7.4%

Since listing, May 13, 2025

BFRZ in the news

ETF.net Research hasn’t filed on BFRZ yet — coverage lands here as it’s written.

BFRZ 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.
0.26%Last 12 months
Payout per share
$0.07Last 12 months
Last payment
$0.02 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution history

2025–2026

One bar per payment. 5 payments from 2025 to 2026 YTD. Jun 30, 2025 $0.01; Sep 30, 2025 $0.02; Dec 31, 2025 $0.02; Mar 31, 2026 $0.02; Jun 30, 2026 $0.02. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Jun 30, 2026Jul 1, 2026$0.02
Mar 31, 2026Apr 1, 2026$0.02
Dec 31, 2025Jan 2, 2026$0.02
Sep 30, 2025Oct 2, 2025$0.02
Jun 30, 2025Jul 1, 2025$0.01

BFRZ Risk

How much the fund’s monthly returns vary, scaled to a year.
4.2%
Annualised · 15 months to Aug 2026
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.
0.49
vs 3-month T-bills · 15 months to Aug 2026
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.
−3.1%
16 months · trough Mar 2026
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.
0.21
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.

BFRZ Cost

Expense ratio0.89%
  • The middle half of S&P 500 Laddered Buffer funds
  • Median 0.20%

Every other S&P 500 Laddered Buffer fund charges less.

BFRZ costs $89.00 a year on $10,000. The median S&P 500 Laddered Buffer fund costs $20.00.