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IBFR

GradeDNew York Stock Exchange Arca

Innovator International Developed Managed 10 Buffer ETF

Buffered · Innovator · Inception 2026-02-24 · SEC filings

$50.84+0.00 (+0.00%)

As of Sep 23, 2026, 9:46 AM EDT

Market opens at 9:30 AM ET.History starts Feb 24, 2026.History starts Feb 24, 2026.
Intraday session: up, 17 prints from 50.44 to 50.84. Range 50.43 to 50.86. Use the arrow keys to read each point.$50.40$50.60Sep 17Sep 18Sep 21Sep 22Sep 23
Expense ratio
0.85%
Fund size
$15M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
323
Volume · 30D
0M sh
NAV per share
$50.14
52W range
low $47.95high $52.40

The ETF.net IBFR Grade

D

39/ 100

Rank 9 of 11 in Other Buffered⁠

Confidence Medium

Six-pillar profile for IBFR. Scores out of 100: Cost 39, Risk 41, Mission not scored, Tradability 30, Holdings 57, Durability 38. Strongest: Holdings (57). Weakest: Tradability (30). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 39 of 100 sits in the D 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.
    DScore 39
    Category rank5/11 · top 45%

  • 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 41
    Category rank6/11 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    DScore 30
    Category rank8/11 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 57
    Category rank2/7 · top 29%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 38
    Category rank8/11 · mid-pack

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on IBFR

ETF.net Research

DMost buffer funds pay for downside protection with a ceiling on gains. Innovator's Managed 10 flips the deal: a roughly 10% loss buffer on developed-market stocks outside the US and Canada, with the upside left uncapped.

Stated mandate

The Fund seeks capital appreciation from uncapped participation in large- and mid-cap developed-market equities outside the United States and Canada, while limiting losses through its hedging strategy.

Why people hold it

  1. 01Uncapped by design: the mandate seeks full participation in large- and mid-cap developed-market stocks outside the US and Canada, with hedges there to limit losses.
  2. 02Points the buffer overseas instead of at US equities, tracking the MSCI EAFE opportunity set across roughly 300 large- and mid-cap names.
  3. 03Actively managed buffer, so the hedge is a manager decision rather than a static calendar formula.
  4. 040.85% expense ratio, right in the range buffer strategies typically charge, including Innovator's international buffer sibling IBUF.

Worth knowing

  1. 01Launched in 2026, so there is no long record showing how the hedge behaves across different markets.
  2. 02Small asset base and light trading so far, which can mean wider spreads than the category's heavyweights.
  3. 03A buffer limits losses, it does not remove them, and the cost of running the hedge comes out of returns. Payouts land once or twice a year, not monthly.

IBFR Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Other
Holdings
323
Top-10 weight
14%
Largest holding
ASML.AS2.7%

Geography

  • Japan28.37%
  • United Kingdom13.85%
  • Switzerland9.03%
  • Germany8.65%
  • France8.20%
  • Australia7.06%
  • Netherlands6.19%
  • Spain3.85%
  • Other countries (14)14.81%

Developed 98% · Emerging 2% of the foreign sleeve

The fund’s holdings, weight-ordered — page 1 of 21.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001ASML.ASASML Holding NV2.71%241$410K194
002HSBA.LHSBC Holdings PLC1.57%11,544$237K145
0038306.TMitsubishi UFJ Financial Group Inc1.37%9,000$207K155
004ROP.SWRoche Holding AG1.37%464$206K196
005SHEL.LShell PLC1.29%4,170$195K159
006NOVN.SWNovartis AG1.29%1,374$194K183
007NESN.SWNestle SA1.14%1,836$172K162
008AZN.LAstraZeneca PLC1.12%1,008$169K164
009SIE.DESiemens AG1.10%528$166K152
010ALV.DEAllianz SE1.05%309$158K158
011SAN.MCBanco Santander SA1.04%10,734$157K134
012—US BANK MMDA - USBGFS 9 09/01/20371.02%153,338$153K161
013BHP.AXBHP Group Ltd0.97%3,384$147K151
014SAP.DESAP SE0.93%672$141K163
015—EFA 06/30/2027 103.5 P0.91%350$138K1

Showing 1–15 of 315 holdings

IBFR Performance

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

IBFR$10,082
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. IBFR $10,082. SPY $10,415. Use the arrow keys to read each point.$9,741$10,122$10,502Jun 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 IBFR. Periods over one year show the average yearly return.
PeriodIBFR
Year to dateFund launched this year—
1 month−0.9%
3 months+0.8%
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 IBFR
YearReturn barIBFR
2026 YTD+1.3%

Since listing, Feb 24, 2026

IBFR in the news

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

IBFR 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.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.28 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Quarterly

Distribution data unavailable.

Distribution history

2026

One bar per payment. 2 payments in 2026 YTD. Mar 31, 2026 $0.12; Jun 30, 2026 $0.28. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 30, 2026Jul 1, 2026$0.28
Mar 31, 2026Apr 1, 2026$0.12

IBFR Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Feb 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 Feb 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 Feb 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.
0.28
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.

IBFR Cost

Expense ratio0.85%
  • The middle half of Other Buffered funds
  • Median 0.85%

2 of the 9 Other Buffered funds charge less.

IBFR costs $85.00 a year on $10,000. The median Other Buffered fund costs $85.00.