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Launched · SEC filings

Innovator Equity Dual Directional 15 Buffer ETF

DDFJCboeInnovatorC

$20.180.00 (−0.02%)

As of Nov 2, 2026, 2:18 PM ET

C43/ 100

Rank 17 of 19 in S&P 500 Dual Directional

C43/100Rank 17 of 19inS&P 500 Dual Directional
Intraday session: down, 53 prints from 20.18 to 20.18. Range 20.16 to 20.22. Use the arrow keys to read each point.20.1620.1920.2020.2120.2210 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$75M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
4
Avg volume · 30D
10.4K sh
52W range
low $18.54high $20.38
Launched
Filings
SEC EDGAR

The ETF.net DDFJ Grade

Based on 4 of 6 pillars

C

Score 43 out of 100

Category
S&P 500 Dual Directional⁠
Rank
17 of 19
Six-pillar profile for DDFJ. Scores out of 100: Cost 50, Risk 31, Mission not scored, Tradability 38, Holdings not scored, Durability 62. Strongest: Durability (62). Weakest: Risk (31). Based on 4 of 6 pillars.

Score 43 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.
    D31 out of 100
    Rank 18 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D38 out of 100
    Rank 15 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.
    B62 out of 100
    Rank 8 of 19

Our read on DDFJ

ETF.net Research

In short

CA buffered fund with a twist. Over each one-year outcome period, DDFJ aims to turn modest S&P 500 declines into positive returns, holds a 15% buffer beneath that, and caps the upside.

Stated mandate

The Fund seeks positive returns when its reference asset rises and in certain declines, while applying an upside cap, inverse-performance threshold, and loss protection during each annual outcome period.

Why people hold it

  • The dual directional part: if the reference S&P 500 ETF ends the outcome period down but above the inverse threshold, the fund aims to deliver that decline as a gain.innovatoretfs.com
  • Past that threshold, protection takes over. Fund documents set a 15 percentage point buffer against reference declines across the annual outcome period.innovatoretfs.com
  • The January-start entry in Innovator's dated dual directional lineup, launched in 2026, with terms that reset on the calendar year.
  • Fee is 0.79%, the same as every other dual directional buffer fund in its group, including DDSQ, DDFN and DDFD.

Worth knowing

  • The price of the downside math is a ceiling: upside is capped at a level struck when each outcome period begins, so a big rally leaves money on the table.innovatoretfs.com
  • Buffer, cap and threshold are calibrated to the full outcome period. Enter mid-period or exit early and the terms you actually get will differ from the stated ones.innovatoretfs.com
  • It trades lightly, so bid-ask spreads can run wider than on plain index funds.

DDFJ Performance

Launched Jan 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.
DDFJ$10,151
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. DDFJ $10,151. 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 DDFJ. Periods over one year show the average yearly return.
PeriodDDFJ
Year to dateFund launched this yearNo data
1 month+0.2%
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 DDFJ
YearReturn barDDFJ
2026 YTD+6.2%

Since listing, Jan 2, 2026

DDFJ in the news

DDFJ 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 Jan 2026. No distributions yet.

DDFJ Risk

Risk pillarD31 out of 100Rank 18 of 19 in S&P 500 Dual Directional
How much the fund’s monthly returns vary, scaled to a year.
Launched Jan 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 Jan 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 Jan 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.
0.31
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.

DDFJ 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.

  • DDFJ 0.79%

    $15,174

$10,000
30 years

Cost over time

  • DDFJ 0.79%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DDFJ $15,174

Year by year

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

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