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Launched

Innovator International Developed Power Buffer ETF - May

IMAYNYSE ArcaInnovatorC

$31.86+0.06 (+0.20%)

At close: Nov 2, 2026, 4:00 PM ET

C46/ 100

Rank 13 of 26 in Developed International Buffer 15%

C46/100Rank 13 of 26inDeveloped International Buffer 15%
Intraday session: up, 78 prints from 31.80 to 31.86. Range 31.86 to 31.97. Use the arrow keys to read each point.31.9031.9510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$50M
1Y total return
+9.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
5.41K sh
52W range
low $28.59high $32.72
Launched

The ETF.net IMAY Grade

Based on 4 of 6 pillars

C

Score 46 out of 100

Category
Developed International Buffer 15%⁠
Rank
13 of 26
Six-pillar profile for IMAY. Scores out of 100: Cost 38, Risk 65, Mission not scored, Tradability 46, Holdings not scored, Durability 48. Strongest: Risk (65). Weakest: Cost (38). Based on 4 of 6 pillars.

Score 46 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.
    D38 out of 100
    Rank 11 of 26

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B65 out of 100
    Rank 5 of 26

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 17 of 26

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    C48 out of 100
    Rank 17 of 26

Our read on IMAY

ETF.net Research

In short

CMost buffer ETFs hedge the S&P 500. This one aims the same machinery at developed international stocks: the first 15% of the underlying ETF's price decline absorbed over a May-to-April year, in exchange for a capped upside.

Stated mandate

The fund seeks to track the return of the iShares MSCI EAFE ETF (EFA), subject to a predetermined cap, while protecting against the first 15% of losses during the outcome period.

Why people hold it

  • The prospectus spells out the trade upfront: first 15% of the underlying ETF's price decline absorbed, upside capped, period running May 1 to April 30, then a new period starts instead of the fund closing.sec.gov
  • At 0.85% a year it sits right at the median for international buffer funds, and it ranks among the stronger implementations in that peer group.
  • The payoff is built from FLEX options on the iShares MSCI EAFE ETF, cleared through the Options Clearing Corporation rather than resting on one bank's structured note.sec.gov
  • One rung of a 12-month ladder: Innovator runs this same EAFE strategy with a start month for every month of the year (IMAR, IAPR, IJUL and the rest), so entries can be staggered.

Worth knowing

  • Upside stops at the cap set for each period, so a strong year in developed markets leaves gains on the table.sec.gov
  • The 15% buffer is measured before fees, and the 0.85% management fee trims what you keep. Buy mid-period and you inherit whatever buffer and cap remain, not the headline pair.sec.gov
  • Outcomes track the underlying ETF's price only, so its dividends don't flow through and the fund isn't a source of regular income. Shares also trade lightly, so spreads deserve a look.sec.gov

IMAY Performance

Launched May 1, 2024

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.
IMAY$10,920
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,146
Oct 31, 2025 to Nov 2, 2026. IMAY $10,920. SPY $11,146. Use the arrow keys to read each point.$10,000$11,000Oct 2025May 2026Nov 2026

Oct 31, 2025 – Nov 2, 2026

Returns run to the Nov 2, 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 IMAY. Periods over one year show the average yearly return.
PeriodIMAY
Year to date+6.6%
1 month0.0%
3 months−0.9%
1 year+9.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

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 IMAY
YearReturn barIMAY
2026 YTD+6.6%
2025+20.1%
2024+0.3%

Since listing, May 1, 2024

IMAY in the news

IMAY Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

IMAY Risk

Risk pillarB65 out of 100Rank 5 of 26 in Developed International Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
6.3%
Annualised · 29 months to Oct 2026
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.
0.76
vs 3-month T-bills · 29 months to Oct 2026
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.
−9.4%
30 months · trough Apr 2025
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.
0.24
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.

FMP measures it over up to five years of monthly returns.

IMAY Cost

Compare IMAY and IDJN

Overpaying vs IDJN, tied cheapest in Developed International Buffer 15%

$10,050

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • IMAY 0.85%

    $16,199

  • IDJN 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • IMAY 0.85%
  • IDJN 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530IMAY $16,199IDJN $6,149

Year by year

YearIMAYIDJNOverpaying
10$1,508$545$963
20$5,706$2,113$3,593
30$16,199$6,149$10,050

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