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Launched · SEC filings

Innovator Equity Dual Directional 15 Buffer ETF

DDFFCboeInnovatorC

$20.39+0.01 (+0.05%)

As of Nov 2, 2026, 1:00 PM ET

C47/ 100

Rank 14 of 19 in S&P 500 Dual Directional

C47/100Rank 14 of 19inS&P 500 Dual Directional
Intraday session: up, 37 prints from 20.38 to 20.39. Range 20.38 to 20.41. Use the arrow keys to read each point.20.3920.3920.4020.4120.4110 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$57M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
14.4K sh
52W range
low $18.61high $20.49
Launched
Filings
SEC EDGAR

The ETF.net DDFF Grade

Based on 4 of 6 pillars

C

Score 47 out of 100

Category
S&P 500 Dual Directional⁠
Rank
14 of 19
Six-pillar profile for DDFF. Scores out of 100: Cost 50, Risk 41, Mission not scored, Tradability 45, Holdings not scored, Durability 60. Strongest: Durability (60). Weakest: Risk (41). Based on 4 of 6 pillars.

Score 47 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.
    C41 out of 100
    Rank 13 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C45 out of 100
    Rank 12 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.
    B60 out of 100
    Rank 9 of 19

Our read on DDFF

ETF.net Research

In short

CA defined-outcome fund with a twist: moderate declines in the S&P 500 ETF it references are designed to come back as positive returns, deeper drops get a 15% buffer, and the upside is capped. This is the February-start entry in Innovator's dual directional lineup.

Stated mandate

The Fund seeks positive returns in rising markets up to a cap and positive returns in moderately declining markets through inverse performance. For larger reference-asset losses, it seeks to provide a buffer, subject to the strategy terms.

Why people hold it

  • The dual directional design aims to pay you the mirror image of a moderate decline instead of just cushioning it, with a 15-point buffer behind it for larger drops.innovatoretfs.com
  • Terms are set in advance, not improvised: the outcome period runs February 1 to January 31, with the cap and buffer spelled out in the prospectus before the clock starts.innovatoretfs.com
  • At 0.79%, the fee sits right at the median for its dual directional peers (DDSQ, DDFN, DDFD, DDFJ all charge the same), so the choice here is start month, not price.
  • Standard 1940 Act ETF wrapper referencing the SPDR S&P 500 ETF Trust: no K-1 partnership plumbing, no exotic legal structure to decode.

Worth knowing

  • The gains are capped. Rallies above the stated cap accrue to someone else, and a fresh cap is set every February when the period resets.
  • The buffer and cap describe one full outcome period. Buy mid-period and your actual upside room and downside cushion differ from the headline terms.innovatoretfs.com
  • It's a young, lightly traded member of a five-fund family, so spreads can run wider than mainstream index ETFs and execution deserves attention.

DDFF Performance

Launched Feb 2, 2026

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.Not enough history yet.
DDFF$10,154
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. DDFF $10,154. SPY $10,141. Use the arrow keys to read each point.$10,000$10,200$10,400Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – 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 DDFF. Periods over one year show the average yearly return.
PeriodDDFF
Year to dateFund launched this yearNo data
1 month+0.1%
3 months+1.5%
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 DDFF
YearReturn barDDFF
2026 YTD+5.6%

Since listing, Feb 2, 2026

DDFF in the news

DDFF 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 Feb 2026. No distributions yet.

DDFF Risk

Risk pillarC41 out of 100Rank 13 of 19 in S&P 500 Dual Directional
How much the fund’s monthly returns vary, scaled to a year.
Launched Feb 2026; 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 Feb 2026; 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 Feb 2026; 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.
0.34
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.

DDFF 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.

  • DDFF 0.79%

    $15,174

$10,000
30 years

Cost over time

  • DDFF 0.79%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DDFF $15,174

Year by year

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

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