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DDNQ

GradeCChicago Board Options Exchange

Innovator Growth-100 Dual Directional 5 Buffer ETF

Buffered · Innovator · Inception 2026-01-02 · SEC filings

$21.07−0.07 (−0.33%)

As of Sep 23, 2026, 2:14 PM EDT

History starts Jan 2, 2026.History starts Jan 2, 2026.
Intraday session: down, 18 prints from 21.14 to 21.07. Range 21.01 to 21.23. Use the arrow keys to read each point.$21.00$21.10$21.2010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$25M
1Y return
—
Yield · Last 12 months
—
Holdings
6
Volume · 30D
0M sh
NAV per share
$20.95
52W range
low $18.36high $22.44

The ETF.net DDNQ Grade

C

42/ 100

Rank 11 of 12 in Nasdaq-100 Buffer 9-12%⁠

Confidence Medium

Six-pillar profile for DDNQ. Scores out of 100: Cost 45, Risk 39, Mission not scored, Tradability 43, Holdings not scored, Durability 38. Strongest: Cost (45). Weakest: Durability (38). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 42 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 45
    Category rank6/12 · top 50%

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    DScore 39
    Category rank10/12 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 43
    Category rank6/12 · top 50%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 38
    Category rank11/12 · bottom quartile

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on DDNQ

ETF.net Research

CMost Nasdaq-100 buffer funds only cushion small drops. DDNQ is built to get paid for them: if its Nasdaq-100 reference dips within the 5% buffer, that decline can register as a positive return, with the upside capped and the terms reset each quarter.

Stated mandate

The Fund seeks capital appreciation through a defined-outcome strategy based on the Invesco QQQ Trust, Series 1. It seeks positive returns when the reference ETF rises or falls modestly, while applying an upside cap and a 5% loss buffer for larger declines.

Why people hold it

  1. 01The dual directional twist: per the prospectus, a modest decline in the reference ETF can count as a positive return, up to the 5% buffer, instead of just being absorbed.innovatoretfs.com
  2. 02Outcome periods run a quarter at a time, so cap and buffer terms are reset four times a year rather than locked in annually.innovatoretfs.com
  3. 03Defined-outcome math inside a plain 1940 Act ETF on QQQ, not a bank-issued structured note.
  4. 04The 0.79% expense ratio lands right at the median for Nasdaq-100 buffer funds, so the unusual payoff shape does not come with an above-group fee.

Worth knowing

  1. 01The buffer is 5%, thin next to the 12% and full-protection options in the group. Past a 5% drop over the period, further losses pass through.
  2. 02Upside is capped every period, and the cap is set anew at each reset, so a big Nasdaq-100 run gets clipped. The stated outcomes assume you hold a full period.innovatoretfs.com
  3. 03Cheaper ways into this cohort exist (PBQQ at 0.50%, the Calamos funds at 0.69%), and DDNQ launched in 2026, so it is early in building assets and trading depth.

DDNQ Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
101%
Largest holding
QQQ 09/30/2026 1.83 C98.7%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—QQQ 09/30/2026 1.83 C98.66%337$25M1
002—QQQ 09/30/2026 736.39 P1.34%674$340K1
003—QQQ 09/30/2026 692.22 P0.33%1,685$83K1
004—US BANK MMDA - USBGFS 9 09/01/20370.33%82,262$82K161

Showing 1–4 of 4 holdings

DDNQ Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

DDNQ$10,242
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,415
Jun 22, 2026 to Sep 22, 2026. DDNQ $10,242. SPY $10,415. Use the arrow keys to read each point.$9,368$9,949$10,530Jun 2026Aug 2026Sep 2026

Jun 22, 2026 – Sep 22, 2026

Returns run to the Sep 22, 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 DDNQ. Periods over one year show the average yearly return.
PeriodDDNQ
Year to dateFund launched this year—
1 month+2.1%
3 months+2.4%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 DDNQ
YearReturn barDDNQ
2026 YTD+7.6%

Since listing, Jan 2, 2026

DDNQ in the news

ETF.net Research hasn’t filed on DDNQ yet — coverage lands here as it’s written.

DDNQ 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 Sep 22, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

DDNQ Risk

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.
0.45
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.

DDNQ Cost

Expense ratio0.79%
  • The middle half of Nasdaq-100 Buffer 9-12% funds
  • Median 0.79%

5 of the 12 Nasdaq-100 Buffer 9-12% funds charge less.

DDNQ costs $79.00 a year on $10,000. The median Nasdaq-100 Buffer 9-12% fund costs $79.00.