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Launched

Innovator U.S. Equity Buffer ETF

BMARCboeInnovatorC

$58.75−0.18 (−0.31%)

As of Nov 2, 2026, 3:59 PM ET

C52/ 100

Rank 34 of 77 in S&P 500 Buffer 9-12%

C52/100Rank 34 of 77inS&P 500 Buffer 9-12%
Intraday session: down, 78 prints from 58.93 to 58.75. Range 58.75 to 59.38. Use the arrow keys to read each point.59.1059.2059.3059.4010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$201M
1Y total return
+13.1%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
15.9K sh
52W range
low $51.08high $59.84
Launched

The ETF.net BMAR Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
S&P 500 Buffer 9-12%⁠
Rank
34 of 77
Six-pillar profile for BMAR. Scores out of 100: Cost 40, Risk 62, Mission not scored, Tradability 61, Holdings not scored, Durability 68. Strongest: Durability (68). Weakest: Cost (40). Based on 4 of 6 pillars.

Score 52 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.
    C40 out of 100
    Rank 34 of 77

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B62 out of 100
    Rank 23 of 77

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B61 out of 100
    Rank 30 of 77

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B68 out of 100
    Rank 25 of 77

Our read on BMAR

ETF.net Research

In short

CThe March vintage of Innovator's buffer lineup: it tracks SPY up to a cap set each March 1, and absorbs the first 9% of losses over the 12 months that follow. Running since 2020.

Stated mandate

The fund seeks to track SPY's return up to a predetermined cap while protecting against the first 9% of losses during the outcome period.

Why people hold it

  • The 9% cushion is written into the fund's terms, not left to a manager's judgment, and it resets with a fresh cap every March 1.innovatoretfs.com
  • At 0.79%, the fee sits right at the median for its shallow-buffer peer group. The March calendar slot costs no premium.
  • The reference asset is SPY itself, so the exposure underneath is plain US large-cap, with no bespoke index to decode.innovatoretfs.com

Worth knowing

  • Protection runs 9% deep and no further. Losses past that come through in full, and gains stop at the cap.
  • Terms are set for the full outcome period. Enter mid-period and your real cushion and remaining upside differ from the headline numbers.innovatoretfs.com
  • Laddered rivals cost less: BUFB spreads buffer exposure across vintages for 0.10%, a fraction of BMAR's 0.79%.

BMAR Performance

Launched Mar 2, 2020

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.
BMAR$11,306
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. BMAR $11,306. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 BMAR. Periods over one year show the average yearly return.
PeriodBMAR
Year to date+11.1%
1 month−0.3%
3 months+1.6%
1 year+13.1%
3 yearsper year+18.2%
5 yearsper year+11.6%
10 yearsFund is under 10 years oldper yearNo data

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 BMAR
YearReturn barBMAR
2026 YTD+11.1%
2025+15.0%
2024+16.5%
2023+23.1%
2022−7.1%
2021+16.8%
2020+10.9%

Since listing, Mar 2, 2020

BMAR in the news

BMAR Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

BMAR Risk

Risk pillarB62 out of 100Rank 23 of 77 in S&P 500 Buffer 9-12%
How much the fund’s monthly returns vary, scaled to a year.
8.0%
Annualised · 36 months to Oct 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.
1.58
vs 3-month T-bills · to Oct 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.
−15.0%
Trough Oct 2022
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.
0.63
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.

FMP measures it over up to five years of monthly returns.

BMAR Cost

Compare BMAR and XTR

Overpaying vs XTR, cheapest in S&P 500 Buffer 9-12%

$10,015

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BMAR 0.79%

    $15,174

  • XTR 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • BMAR 0.79%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BMAR $15,174XTR $5,159

Year by year

YearBMARXTROverpaying
10$1,405$455$950
20$5,331$1,769$3,562
30$15,174$5,159$10,015

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