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Launched

Innovator Equity Dual Directional 15 Buffer ETF - November

DDFNCboeInnovatorC

$20.72−0.01 (−0.04%)

At close: Nov 2, 2026, 4:00 PM ET

C51/ 100

Rank 10 of 19 in S&P 500 Dual Directional

C51/100Rank 10 of 19inS&P 500 Dual Directional
Intraday session: down, 79 prints from 20.73 to 20.72. Range 20.71 to 20.83. Use the arrow keys to read each point.20.7520.7720.8020.8210 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$62M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
6
Avg volume · 30D
34.7K sh
52W range
low $18.70high $20.77
Launched

The ETF.net DDFN Grade

Based on 5 of 6 pillars

C

Score 51 out of 100

Category
S&P 500 Dual Directional⁠
Rank
10 of 19
Six-pillar profile for DDFN. Scores out of 100: Cost 50, Risk 41, Mission not scored, Tradability 57, Holdings 61, Durability 65. Strongest: Durability (65). Weakest: Risk (41). Based on 5 of 6 pillars.

Score 51 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.
    B57 out of 100
    Rank 7 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B61 out of 100
    Rank 1 of 13

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B65 out of 100
    Rank 7 of 19

Our read on DDFN

ETF.net Research

In short

CBuffered S&P 500 exposure with a twist: a moderate market drop can register as a gain rather than a loss. This is the November series, resetting each November 1 with a 15% buffer running through the year.

Stated mandate

The Fund seeks positive returns when its reference asset rises and in certain moderately declining markets, while limiting losses beyond the inverse-performance threshold through a buffer.

Why people hold it

  • The dual-directional part: if the reference S&P 500 ETF ends the period down but inside the 15% buffer, the fund aims to pay that decline back as a positive return.innovatoretfs.com
  • Losses only begin past a 15% drop over the outcome period, and the payoff sits inside a registered 1940 Act ETF rather than a bank-issued structured note.innovatoretfs.com
  • One of a staggered family: DDFD carries the December reset, DDSQ uses a 5% buffer. All charge 0.79%, so the pick comes down to buffer size and calendar, not price.
  • Stands in the upper half of its small dual-directional peer group, one of the better-built versions of an unusual payoff.

Worth knowing

  • Upside is capped. A new cap is set when each November period begins, so a powerful rally in the index leaves some of the gain behind.
  • Buffer and cap are measured from the period start to the October 31 finish. Buy mid-period and your own buffer and upside differ from the headline terms.
  • Launched in November 2025 and lightly traded, with a 0.79% fee that reflects options work, not index pricing. Income isn't part of the design.

DDFN Holdings

Holdings pillarB61 out of 100Rank 1 of 13 in S&P 500 Dual Directional
Asset class
Stocks
Holdings
6
Top-10 weight
143%
Largest holding
VOO98.6%

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
1VOOVanguard S&P 500 ETF98.57%88,064$61.2M66
2No dataVoo 10/29/2027 583.64 P33.33%13,470$20.7M1
3No dataVoo 10/29/2027 694.83 P10.87%1,796$6.75M1
4No dataUs Bank Mmda - Usbgfs 9 09/01/20370.43%269,196$269K163
5No dataVoo 10/29/2027 722.62 C0.13%17$81.5K1
6No dataCash & Other0.06%35,892$35.9K609

Showing 1–6 of 6 holdings

DDFN Performance

Launched Nov 3, 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.
DDFN$10,814
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. DDFN $10,814. 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 DDFN. Periods over one year show the average yearly return.
PeriodDDFN
Year to date+8.1%
1 month+1.0%
3 months+2.6%
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 DDFN
YearReturn barDDFN
2026 YTD+8.1%
2025+0.6%

Since listing, Nov 3, 2025

DDFN in the news

DDFN 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 Nov 2025. No distributions yet.

DDFN 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 Nov 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 Nov 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 Nov 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.
0.33
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.

DDFN 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.

  • DDFN 0.79%

    $15,174

$10,000
30 years

Cost over time

  • DDFN 0.79%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DDFN $15,174

Year by year

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

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