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DDTN

GradeBChicago Board Options Exchange

Innovator Equity Dual Directional 10 Buffer ETF - November

Dual Directional · Innovator · Inception 2025-11-03

$20.99−0.07 (−0.33%)

As of Sep 23, 2026, 1:46 PM EDT

History starts Nov 3, 2025.History starts Nov 3, 2025.
Intraday session: down, 9 prints from 21.06 to 20.99. Range 20.98 to 21.08. Use the arrow keys to read each point.$21.04$21.0810 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$35M
1Y return
—
Yield · Last 12 months
—
Holdings
7
Volume · 30D
0M sh
NAV per share
$20.91
52W range
low $18.34high $21.07

The ETF.net DDTN Grade

B

59/ 100

Rank 3 of 11 in S&P 500 Dual Directional, 9-12% Buffer⁠

Confidence Medium

Six-pillar profile for DDTN. Scores out of 100: Cost 68, Risk 31, Mission not scored, Tradability 68, Holdings not scored, Durability 66. Strongest: Cost (68). Weakest: Risk (31). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 59 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 rank6/11 · mid-pack

  • 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 31
    Category rank10/11 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 68
    Category rank3/11 · top 27%

  • 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 66
    Category rank2/11 · top 18%

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

Our read on DDTN

ETF.net Research

BMost buffer ETFs just cushion a drop. DDTN tries to pay you for one: if SPY ends its November-to-November year down as much as 10%, that loss is designed to convert into a matching gain. Upside is capped, and a 10% buffer takes over past that point.

Stated mandate

The Fund seeks positive returns in both rising markets and certain declining markets, with gains capped when the reference asset rises, positive returns when it falls within the inverse threshold, and loss protection beyond that threshold.

Why people hold it

  1. 01The down-is-up twist: a SPY decline of up to 10% over the outcome period is designed to show up as a positive return of the same size, not just a cushioned loss.innovatoretfs.com
  2. 02Past that threshold, the trade flips to defense: the fund seeks to absorb the first 10% of SPY losses, with anything deeper taken one for one.innovatoretfs.com
  3. 03At 0.79% it matches its Innovator siblings DDTD, DDTJ and DDTF, and undercuts FT Vest's November dual directional fund, DLNV, at 0.85%.
  4. 04November-dated: the year's terms are struck in November rather than January (DDTJ) or December (DDTD), and the fund resets automatically at each period end.innovatoretfs.com

Worth knowing

  1. 01The cap and buffer apply to a full November-to-November period. Buy mid-period and your own cap and remaining buffer differ from the headline terms.innovatoretfs.com
  2. 02The cap resets each November and can land higher or lower. In a strong rally, gains stop at the cap while SPY keeps running.innovatoretfs.com
  3. 03Launched in late 2025, it is one of the newer names in the series, and lightly traded funds can carry wider spreads than the biggest buffer ETFs.

DDTN Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
7
Top-10 weight
102%
Largest holding
SPY 10/30/2026 6.86 C101.2%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPY 10/30/2026 6.86 C101.22%452$35M1
002—SPY 10/30/2026 607.03 P0.54%4,520$185K1
003—US BANK MMDA - USBGFS 9 09/01/20370.40%136,838$137K161
004—SPY 10/30/2026 682.1 P0.30%904$103K1

Showing 1–4 of 4 holdings

DDTN Performance

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

DDTN$10,986
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. DDTN $10,986. 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 DDTN. Periods over one year show the average yearly return.
PeriodDDTN
Year to date+9.9%
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 DDTN
YearReturn barDDTN
2026 YTD+9.9%
2025+1.0%

Since listing, Nov 3, 2025

DDTN in the news

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

DDTN 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 Nov 2025. No distributions yet.

DDTN Risk

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.
0.56
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.

DDTN 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.

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