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Innovator Laddered Allocation Power Buffer ETF

BUFFCboeA

$54.45−0.01 (−0.02%)

At close: Oct 13, 2026, 4:00 PM

Intraday session: down, 65 prints from 54.46 to 54.45. Range 54.37 to 54.46. Use the arrow keys to read each point.54.3654.3854.4054.4210 AM12 PM2 PM4 PM
Expense ratio
0.10%
Fund size
$1.1B
1Y total return
+12.3%
Yield · Last 12 months
0.00%
Holdings
13
Avg volume · 30D
0.1M sh
NAV per share
$54.37
52W range
low $48.41high $54.47
Launched
Filings
SEC EDGAR

The ETF.net BUFF Grade

Based on 5 of 6 pillars

A

Score 70 out of 100

Rank
4 of 18
Six-pillar profile for BUFF. Scores out of 100: Cost 82, Risk 57, Mission not scored, Tradability 61, Holdings 62, Durability 79. Strongest: Cost (82). Weakest: Risk (57). Based on 5 of 6 pillars.

Score 70 of 100 falls in the A 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.
    A82 out of 100
    Rank 1 of 18
  • 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.
    B57 out of 100
    Rank 7 of 18
  • 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 6 of 18
  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B62 out of 100
    Rank 10 of 18
  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A79 out of 100
    Rank 3 of 18

Our read on BUFF

ETF.net Research

ATwelve buffer ETFs in one ticker. BUFF spreads across every monthly start date in Innovator's 15% Power Buffer lineup, so no single entry month sets your terms, and the wrapper charges 0.10%.

Stated mandate

The fund seeks exposure to the FTSE Laddered Power Buffer Strategy Index, which equally allocates among 12 U.S. Equity Power Buffer ETFs. Those underlying ETFs seek U.S. equity upside subject to caps while buffering the first 15% of losses.

Why people hold it

  1. 01Wrapper fee of 0.10%, against a 0.79% median for its buffer peer group. That is a rare price tag in a category where costs usually take a real bite.
  2. 02Laddering across 12 monthly outcome periods kills start-date roulette: you hold sleeves at every stage of their year instead of one cap struck on one day.innovatoretfs.com
  3. 03Each underlying sleeve seeks US equity upside to a cap while buffering the first 15% of losses, referenced to the S&P 500 through SPY.innovatoretfs.com
  4. 04Running since 2016 and one of the strongest implementations in its buffer peer group, with an equity mandate that stays squarely in US large caps.

Worth knowing

  1. 01You own a ladder, not one clean 15% buffer. Each sleeve sits at a different point in its year, so protection at the portfolio level is always a blend.innovatoretfs.com
  2. 02The 0.10% is the wrapper only. The underlying Power Buffer ETFs carry their own fees; single-month versions such as PJUL and PJAN list 0.79%.
  3. 03Upside is capped by design. Buffers are paid for by giving up gains above the cap, and this is a price-return vehicle rather than an income one.

BUFF Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
13
Top-10 weight
84%
Largest holding
PNOV8.5%

Sectors

  • Technology40.1%
  • Financials11.3%
  • Communication9.9%
  • Health Care9.4%
  • Consumer Discretionary8.7%
  • Industrials7.6%
  • Consumer Staples4.4%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • Materials1.6%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001PNOVInnovator U.S. Equity Power Buffer ETF - November8.52%2,010,392$93M1
002POCTInnovator U.S. Equity Power Buffer ETF - October8.49%1,909,736$93M1
003PDECInnovator U.S. Equity Power Buffer ETF - December8.45%1,934,695$92M1
004PFEBInnovator U.S. Equity Power Buffer ETF - February8.38%2,051,533$91M1
005PJANInnovator U.S. Equity Power Buffer ETF - January8.37%1,783,306$91M1
006PAUGInnovator U.S. Equity Power Buffer ETF - August8.34%1,928,101$91M1
007PMARInnovator U.S. Equity Power Buffer ETF - March8.34%1,843,300$91M1
008PSEPInnovator U.S. Equity Power Buffer ETF - September8.30%1,910,589$91M1
009PJULInnovator U.S. Equity Power Buffer ETF - July8.27%1,792,351$90M1
010PAPRInnovator U.S. Equity Power Buffer ETF - April8.24%2,069,161$90M1
011PMAYInnovator U.S. Equity Power Buffer ETF - May8.17%2,089,089$89M1
012PJUNInnovator U.S. Equity Power Buffer ETF - June8.08%1,978,742$88M1
013—Us Bank Mmda - Usbgfs 9 09/01/20370.06%633,744$634K163

Showing 1–13 of 13 holdings

BUFF Performance

Launched Oct 20, 2016

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.
BUFF$11,229
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$12,044
Oct 10, 2025 to Oct 12, 2026. BUFF $11,229. SPY $12,044. Use the arrow keys to read each point.$9,582$10,912$12,243Oct 2025Apr 2026Oct 2026

Oct 10, 2025 – Oct 12, 2026

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.

Trailing total return for BUFF. Periods over one year show the average yearly return.
PeriodBUFF
Year to date+9.2%
1 month+1.4%
3 months+2.8%
1 year+12.3%
3 yearsper year+12.9%
5 yearsper year+9.2%
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 BUFF
YearReturn barBUFF
2026 YTD+9.2%
2025+11.0%
2024+12.1%
2023+16.5%
2022−4.4%
2021+8.4%
2020−10.2%

BUFF in the news

Filtered to BUFF · S&P 500 Laddered Buffer · Innovator

BUFF 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 Oct 12, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2020

One bar per payment. 16 payments from 2016 to 2020. Dec 22, 2016 $0.05; Mar 24, 2017 $0.09; Jun 26, 2017 $0.14; Sep 25, 2017 $0.14; Dec 22, 2017 $0.13; Mar 27, 2018 $0.07; Jun 26, 2018 $0.14; Sep 25, 2018 $0.13; Dec 21, 2018 $0.18; Mar 28, 2019 $0.16; Jun 27, 2019 $0.18; Sep 27, 2019 $0.18; Dec 30, 2019 $0.13; Mar 30, 2020 $0.34; Jun 29, 2020 $0.19; Jul 15, 2020 $0.07. Use the arrow keys to read each point.20162017201820192020
Ex-datePay dateAmount per share
Jul 15, 2020Jul 17, 2020$0.07
Jun 29, 2020Jul 1, 2020$0.19
Mar 30, 2020Apr 1, 2020$0.34
Dec 30, 2019Jan 2, 2020$0.13
Sep 27, 2019Sep 30, 2019$0.18
Jun 27, 2019Jul 1, 2019$0.18
Mar 28, 2019Apr 1, 2019$0.16
Dec 21, 2018Dec 31, 2018$0.18
Sep 25, 2018Sep 28, 2018$0.13
Jun 26, 2018Jun 29, 2018$0.14
Mar 27, 2018Mar 29, 2018$0.07
Dec 22, 2017Dec 29, 2017$0.13

BUFF Risk

How much the fund’s monthly returns vary, scaled to a year.
5.9%
Annualised · 36 months to Sep 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.
1.33
vs 3-month T-bills · to Sep 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.
−10.2%
Trough Apr 2025
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.
0.47
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.

BUFF Cost

Expense ratio0.10%
  • The middle half of S&P 500 Laddered Buffer funds
  • Median 0.25%

No S&P 500 Laddered Buffer fund charges less.

BUFF costs $10.00 a year on $10,000. The median S&P 500 Laddered Buffer fund costs $25.00.

Other funds in S&P 500 Laddered Buffer