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Launched

Innovator Equity Dual Directional 15 Buffer ETF - December

DDFDCboeInnovatorC

$20.41−0.02 (−0.10%)

As of Nov 2, 2026, 3:23 PM ET

C52/ 100

Rank 8 of 19 in S&P 500 Dual Directional

C52/100Rank 8 of 19inS&P 500 Dual Directional
Intraday session: down, 66 prints from 20.43 to 20.41. Range 20.40 to 20.51. Use the arrow keys to read each point.20.4620.4820.5010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$94M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
15.9K sh
52W range
low $18.70high $20.51
Launched

The ETF.net DDFD Grade

Based on 4 of 6 pillars

C

Score 52 out of 100

Category
S&P 500 Dual Directional⁠
Rank
8 of 19
Six-pillar profile for DDFD. Scores out of 100: Cost 50, Risk 51, Mission not scored, Tradability 52, Holdings not scored, Durability 72. Strongest: Durability (72). Weakest: Cost (50). 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.
    C50 out of 100
    Rank 1 of 19

  • 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.
    C51 out of 100
    Rank 8 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C52 out of 100
    Rank 11 of 19

  • 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.
    A72 out of 100
    Rank 5 of 19

Our read on DDFD

ETF.net Research

In short

CA buffer fund with a twist: if the S&P 500 ETF it references finishes modestly lower, DDFD is built to turn that decline into a gain, not just cushion it. The trade-off is a capped upside, reset every December.

Stated mandate

The Fund uses a defined outcome strategy based on SPDR S&P 500 ETF Trust returns. It seeks positive returns in rising markets and in certain declining markets, while applying an upside cap, inverse-performance threshold, and buffer.

Why people hold it

  • Down can mean up: inside the buffer zone, a decline in the reference S&P 500 ETF is designed to produce a positive return rather than a smaller loss.innovatoretfs.com
  • A 15 percentage point buffer against reference losses across the one-year outcome period, spelled out in the fund's own terms.innovatoretfs.com
  • This is the December-dated member of a monthly series, so its annual reset runs December to November instead of a January or June clock.
  • Fee of 0.79%, the same as every other dual directional fund in the lineup (DDSQ, DDFN, DDFJ), so the calendar choice costs nothing extra.

Worth knowing

  • The upside is capped and re-struck each December, so a big rally in the reference ETF leaves gains on the table.
  • Buy mid-period and your own buffer and cap differ from the headline terms, since both are measured from the December start.innovatoretfs.com
  • Built for outcome, not income: it is not structured as a distribution payer, and it changes hands far less often than the S&P 500 ETF it references.

DDFD Holdings

Asset class
Stocks
Holdings
4
Top-10 weight
104%
Largest holding
Spy 11/30/2026 6.89 C102.0%

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 States99.53%
  • Switzerland0.26%
  • China0.10%
  • Mexico0.05%
  • Ireland0.03%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataSpy 11/30/2026 6.89 C101.97%1,286$96.3M1
2No dataSpy 11/30/2026 574.05 P1.03%19,290$973K1
3No dataSpy 11/30/2026 683.44 P0.57%2,572$534K1
4No dataUs Bank Mmda - Usbgfs 9 09/01/20370.41%391,337$391K163

Showing 1–4 of 4 holdings

DDFD Performance

Launched Dec 1, 2025

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.Not enough history yet.
DDFD$10,668
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,169
Dec 31, 2025 to Oct 30, 2026. DDFD $10,668. SPY $11,169. Use the arrow keys to read each point.$10,000$11,000Dec 2025Jun 2026Oct 2026

Dec 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 DDFD. Periods over one year show the average yearly return.
PeriodDDFD
Year to date+6.7%
1 month+0.4%
3 months+1.7%
1 yearFund is under 1 year oldNo data
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
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 DDFD
YearReturn barDDFD
2026 YTD+6.7%
2025+0.6%

Since listing, Dec 1, 2025

DDFD in the news

DDFD 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 30, 2026.
No dataLast 12 months
Payout per share
No dataLast 12 months

Listed Dec 2025. No distributions yet.

DDFD Risk

Risk pillarC51 out of 100Rank 8 of 19 in S&P 500 Dual Directional
How much the fund’s monthly returns vary, scaled to a year.
Launched Dec 2025; fills in after 12 months
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.
Launched Dec 2025; fills in after 12 months
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.
Launched Dec 2025; fills in after 12 months
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.
0.32
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.

DDFD Cost

Tied cheapest in S&P 500 Dual Directional

$15,174

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

  • DDFD 0.79%

    $15,174

$10,000
30 years

Cost over time

  • DDFD 0.79%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DDFD $15,174

Year by year

YearDDFD
10$1,405
20$5,331
30$15,174

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