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Launched · SEC filings

Innovator Equity Dual Directional 5 Buffer ETF

DDSQCboeC

$21.65+0.05 (+0.22%)

As of Oct 13, 2026, 3:59 PM

C52/ 100

Rank 7 of 19 in S&P 500 Dual Directional

C52/100Rank 7 of 19inS&P 500 Dual Directional
Intraday session: up, 21 prints from 21.60 to 21.65. Range 21.60 to 21.67. Use the arrow keys to read each point.21.6221.6421.6610 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$99M
1Y total return
—
Yield · Last 12 months
—
Holdings
5
Avg volume · 30D
0M sh
NAV per share
$21.60
52W range
low $18.59high $21.71
Launched
Filings
SEC EDGAR

The ETF.net DDSQ Grade

C

Score 52 out of 100

Category
S&P 500 Dual Directional⁠
Rank
7 of 19
Six-pillar profile for DDSQ. Scores out of 100: Cost 50, Risk 52, Mission 81, Tradability 47, Holdings 61, Durability 70. Strongest: Mission (81). Weakest: Tradability (47). Leans toward Mission.

Score 52 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.
    A81 out of 100
    Not ranked

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C52 out of 100
    Rank 8 of 17

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C47 out of 100
    Rank 12 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B61 out of 100
    Rank 1 of 12

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A70 out of 100
    Rank 6 of 19

Our read on DDSQ

ETF.net Research

CInnovator's dual directional idea on a short leash: a 5 point buffer on SPY where a modest decline can register as a gain, up to a cap. Its siblings run 15 point buffers across a year. DDSQ resets every quarter.

Stated mandate

The fund seeks positive returns in rising markets and certain declining markets, subject to a cap, an inverse performance threshold, and a downside buffer.

Why people hold it

  1. 01Direction is not the only thing that pays. A SPY finish down inside the buffer can register as a positive return, subject to an inverse performance threshold and a cap.innovatoretfs.com
  2. 02The outcome period runs a quarter, not a year, so the buffer and cap are reset four times as often as the annual dual directional funds in the same family.innovatoretfs.com
  3. 03Costs 0.79% a year, the same as every other dual directional fund in the lineup (DDFN, DDFD, DDFJ, DDFF). The quarterly reset carries no fee premium.
  4. 04Stands among the stronger implementations in its small dual directional peer group.

Worth knowing

  1. 01Five points of cushion is the thinnest in the family. The 15 buffer versions absorb more, and any decline past the buffer lands on you in full.
  2. 02Upside is capped, and a fresh cap is struck at the start of each quarterly period. Buying mid period means a different buffer and cap than the stated terms.innovatoretfs.com
  3. 03Launched in 2026, still small and thinly traded, so spreads can run wider than in mainstream index funds. The payoff is structural, not income: it has not paid a distribution.

DDSQ Holdings

As of Oct 13, 2026
Asset class
Stocks
Holdings
5
Top-10 weight
108%
Largest holding
VOO101.0%

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 States100.00%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001VOOVanguard S&P 500 ETF100.97%139,517$100M60
002—Voo 12/31/2026 658.81 P3.69%7,009$4M1
003—Voo 12/31/2026 700.9 P3.25%2,803$3M1
004—Us Bank Mmda - Usbgfs 9 09/01/20370.13%128,142$128K163
005—Voo 12/31/2026 707.91 C0.02%6$15K1

Showing 1–5 of 5 holdings

DDSQ 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.
DDSQ$10,193
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,332
Jul 10, 2026 to Oct 12, 2026. DDSQ $10,193. SPY $10,332. Use the arrow keys to read each point.$9,608$10,004$10,400Jul 2026Aug 2026Oct 2026

Jul 10, 2026 – Oct 12, 2026

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.

Trailing total return for DDSQ. Periods over one year show the average yearly return.
PeriodDDSQ
Year to dateFund launched this year—
1 month+0.4%
3 months+1.9%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years oldper year—
5 yearsFund is under 5 years oldper year—
10 yearsFund is under 10 years oldper 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 DDSQ
YearReturn barDDSQ
2026 YTD+12.9%

Since listing, Jan 2, 2026

DDSQ in the news

Filtered to DDSQ · Innovator

DDSQ 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 12, 2026.
—Last 12 months
Payout per share
—Last 12 months

Listed Jan 2026. No distributions yet.

DDSQ 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.
0.13
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.

DDSQ Cost

Expense ratio0.79%
  • The middle half of S&P 500 Dual Directional funds
  • Median 0.79%

No S&P 500 Dual Directional fund charges less.

DDSQ costs $79.00 a year on $10,000. The median S&P 500 Dual Directional fund costs $79.00.

Other funds in S&P 500 Dual Directional

See others