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DDTD

GradeBChicago Board Options Exchange

Innovator Equity Dual Directional 10 Buffer ETF - December

Dual Directional · Innovator · Inception 2025-12-01

$20.86−0.10 (−0.48%)

As of Sep 23, 2026, 1:04 PM EDT

History starts Dec 1, 2025.History starts Dec 1, 2025.
Intraday session: down, 4 prints from 20.96 to 20.86. Range 20.86 to 20.95. Use the arrow keys to read each point.$20.88$20.92$20.9610 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$23M
1Y return
—
Yield · Last 12 months
—
Holdings
7
Volume · 30D
0M sh
NAV per share
$20.80
52W range
low $18.30high $20.95

The ETF.net DDTD Grade

B

55/ 100

Rank 5 of 11 in S&P 500 Dual Directional, 9-12% Buffer⁠

Confidence Medium

Six-pillar profile for DDTD. Scores out of 100: Cost 68, Risk 51, Mission not scored, Tradability 37, Holdings not scored, Durability 56. Strongest: Cost (68). Weakest: Tradability (37). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 55 of 100 sits in the B 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.
    BScore 68
    Category rank3/11 · top 27%

  • 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.
    CScore 51
    Category rank6/11 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 37
    Category rank8/11 · mid-pack

  • 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.
    BScore 56
    Category rank5/11 · top 45%

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

Our read on DDTD

ETF.net Research

BMost buffer funds only cushion a drop. This one aims to pay for a mild one: declines of up to 10% in its S&P 500 reference fund are designed to register as gains, deeper losses are buffered, and upside is capped for the year.

Stated mandate

The Fund seeks positive returns when its reference asset rises or falls within the specified inverse threshold, while limiting losses beyond that threshold through a defined buffer.

Why people hold it

  1. 01Two-way by design: inside the 10-point zone, a fall in the reference fund is built to show up as a positive return, not merely a smaller loss.
  2. 02The 10% buffer and the upside cap are written into the fund's documents at the start of each 12-month outcome period, so the rules are known going in, then reset.
  3. 030.79% a year, level with the dual-directional pack and below FT Vest's DLNV at 0.85%.
  4. 04December is one door into a monthly series (DDTN, DDTJ, DDTF), so entry dates can be staggered instead of pinned to a single start month.

Worth knowing

  1. 01The cap is the price of the buffer: market gains above it in a strong year do not pass through, and the level is reset each period.
  2. 02Buffer and cap are measured from the outcome period's start date. Buy mid-period and the terms you actually own differ from the stated ones.
  3. 03Protection stops at the 10-point buffer; declines past it pass through. It is also a young, small fund that has traded thinly, which can mean wider spreads.

DDTD Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
7
Top-10 weight
105%
Largest holding
SPY 11/30/2026 6.87 C101.9%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPY 11/30/2026 6.87 C101.89%306$23M1
002—SPY 11/30/2026 608.22 P1.48%3,060$341K1
003—SPY 11/30/2026 683.43 P0.74%612$170K1
004—US BANK MMDA - USBGFS 9 09/01/20370.42%97,276$97K161

Showing 1–4 of 4 holdings

DDTD Performance

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

DDTD$10,943
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. DDTD $10,943. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – 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 DDTD. Periods over one year show the average yearly return.
PeriodDDTD
Year to date+9.4%
1 month+1.2%
3 months+3.4%
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 DDTD
YearReturn barDDTD
2026 YTD+9.4%
2025+0.8%

Since listing, Dec 1, 2025

DDTD in the news

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

DDTD 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 Dec 2025. No distributions yet.

DDTD Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 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 Dec 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 Dec 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.
0.54
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.

DDTD Cost

Expense ratio0.79%
  • The middle half of S&P 500 Dual Directional, 9-12% Buffer funds
  • Median 0.79%

No S&P 500 Dual Directional, 9-12% Buffer fund charges less.

DDTD costs $79.00 a year on $10,000. The median S&P 500 Dual Directional, 9-12% Buffer fund costs $79.00.