Innovator Equity Dual Directional 15 Buffer ETF
$20.42−0.04 (−0.20%)
- 0.79%
- $59M
- 0M sh
- $20.45
- low $18.61high $20.46
The ETF.net DDFF Grade
C
Score 46 out of 100
- 12 of 19
Score 46 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.D28 out of 100Rank 15 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.B60 out of 100Rank 9 of 19
Our read on DDFF
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.
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 Holdings
- Stocks
- 4
- 110%
- Spy 01/29/2027 6.99 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%
DDFF 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.Not enough history yet.Not enough history yet.Not enough history yet.Not enough history yet.
DDFF$10,210
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 | DDFF |
|---|---|
| Year to date | — |
| 1 month | +0.8% |
| 3 months | +2.1% |
| 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 | DDFF |
|---|---|---|
| 2026 YTD | +6.0% |
DDFF in the news
DDFF Dividends
Listed Feb 2026. No distributions yet.
DDFF 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.
- 0.34
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DDFF Cost
0.79%
DDFF0.79%
- 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 —
- CDDFDInnovator Equity Dual Directional 15 Buffer ETF - DecemberExpense 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 —