Innovator Equity Dual Directional 15 Buffer ETF - December
$20.460.00 (0.00%)
- 0.79%
- $96M
- 0M sh
- $20.48
- low $18.70high $20.48
The ETF.net DDFD Grade
C
Score 49 out of 100
- 11 of 19
Score 49 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 100Rank 1 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D38 out of 100Rank 13 of 17Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C53 out of 100Rank 9 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A72 out of 100Rank 5 of 19
Our read on DDFD
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.
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
- Stocks
- 4
- 106%
- Spy 11/30/2026 6.89 C
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%
DDFD Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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DDFD$10,687
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 | DDFD |
|---|---|
| Year to date | +6.9% |
| 1 month | +0.7% |
| 3 months | +1.9% |
| 1 year | — |
| 3 years | — |
| 5 years | — |
| 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 | DDFD |
|---|---|---|
| 2026 YTD | +6.9% | |
| 2025 | +0.6% |
DDFD in the news
DDFD Dividends
Listed Dec 2025. No distributions yet.
DDFD Risk
- —
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.
- —
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.
- —
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.
- 0.32
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DDFD Cost
0.79%
DDFD0.79%
- The middle half of S&P 500 Dual Directional funds
- Median 0.79%
No S&P 500 Dual Directional fund charges less.
Other funds in S&P 500 Dual Directional
- CDLMYFirst Trust Exchange-Traded Fund VIII - FT Vest U.S. Equity Dual Directional Buffer ETF - MayExpense ratio 0.85%1 year return —
- CDDSQInnovator Equity Dual Directional 5 Buffer ETFExpense ratio 0.79%1 year return —
- CDDFFInnovator Equity Dual Directional 15 Buffer ETFExpense ratio 0.79%1 year return —
- CDDFNInnovator Equity Dual Directional 15 Buffer ETF - NovemberExpense ratio 0.79%1 year return —
- CDDFJInnovator Equity Dual Directional 15 Buffer ETFExpense ratio 0.79%1 year return —