Innovator U.S. Equity Buffer ETF
$55.87+0.04 (+0.06%)
- 0.79%
- $307M
- +17.0%
- 0.00%
- 0M sh
- $55.82
- low $46.84high $56.00
The ETF.net BOCT Grade
C
Score 52 out of 100
- 31 of 77
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 100Rank 34 of 77Mission
Whether the fund did what it promised, tested against its stated mandate.A87 out of 100Rank 5 of 7Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C43 out of 100Rank 51 of 76Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C53 out of 100Rank 36 of 77Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A90 out of 100Rank 3 of 44Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A77 out of 100Rank 19 of 77
Our read on BOCT
COne of the original defined-outcome ETFs, listed October 1, 2018. It absorbs the first 9% of an S&P 500 drop over each one-year period starting October 1, and trades that safety net for a ceiling on the upside.
The Fund seeks to track SPY’s return up to a predetermined cap while buffering the first 9% of losses over the October 1, 2025 through September 30, 2026 outcome period.
Why people hold it
- Class of 2018: the October series listed on October 1, 2018, in the first wave of defined-outcome ETFs. It has run through real drawdowns since.sec.gov
- Terms in writing, not hope: a 9% buffer on the reference ETF's losses plus a preset cap, both reset every October 1. Shares can be held through resets indefinitely.innovatoretfs.com
- The shallowest of Innovator's three SPY-linked tiers (9%, 15%, 30% buffers), so it surrenders the least upside in exchange for its cushion.innovatoretfs.com
- Part of a 12-month ladder (BJAN, BAPR, BJUL and the rest), so a 9% buffer period starts every month and you are not tied to one entry date.
Worth knowing
- At 0.79% a year it sits at the buffer-fund median, and newer rivals undercut it: ZALT at 0.69%, PGIM's AUGP and JUNP at 0.50%.
- The 9% buffer is before fees and expenses and applies over the full October-to-September period. Buy mid-period and your actual cap and cushion differ from the headline terms.innovatoretfs.com
- Upside stops at the cap and index dividends do not pass through. It also trades lighter than the category's biggest names, so spreads can widen.innovatoretfs.com
BOCT Holdings
- Stocks
- 504
- 41%
- NVDA
Sectors
- Technology40.5%
- Financials11.3%
- Communication9.6%
- Health Care9.1%
- Consumer Discretionary8.8%
- Industrials7.3%
- Consumer Staples4.4%
- Energy3.5%
- Utilities1.9%
- Materials1.7%
- Real Estate1.7%
Geography
- United States97.68%
- Ireland1.19%
- United Kingdom0.38%
- Switzerland0.28%
- Singapore0.27%
- Netherlands0.11%
- Bermuda0.07%
- Canada0.01%
BOCT 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.
BOCT$11,696
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 | BOCT |
|---|---|
| Year to date | +13.0% |
| 1 month | +2.1% |
| 3 months | +4.4% |
| 1 year | +17.0% |
| 3 years | +15.9% |
| 5 years | +11.2% |
| 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 | BOCT |
|---|---|---|
| 2026 YTD | +13.0% | |
| 2025 | +14.3% | |
| 2024 | +12.4% | |
| 2023 | +21.1% | |
| 2022 | −8.1% | |
| 2021 | +15.0% | |
| 2020 | +14.7% |
BOCT in the news
Filings Digest
AllianzIM launches OCTI and resets October buffer terms
BOCT Dividends
- 0.00%
No distributions in the last 12 months.
Distribution history
BOCT Risk
- 8.0%
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.
- 1.31
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.
- −14.3%
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.
- 0.64
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
BOCT Cost
0.79%
BOCT0.79%
- The middle half of S&P 500 Buffer 9-12% funds
- Median 0.79%
33 of the 77 S&P 500 Buffer 9-12% funds charge less.
Other funds in S&P 500 Buffer 9-12%
- CBJUNInnovator U.S. Equity Buffer ETFExpense ratio 0.79%1 year return +11.4%
- CBMARInnovator U.S. Equity Buffer ETFExpense ratio 0.79%1 year return +17.1%
- CBAUGInnovator U.S. Equity Buffer ETFExpense ratio 0.79%1 year return +15.9%
- CNVBTAllianzIM U.S. Equity Buffer10 Nov ETFExpense ratio 0.74%1 year return +15.3%
- CBDECInnovator U.S. Equity Buffer ETFExpense ratio 0.79%1 year return +17.5%