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Launched

Innovator Intl Developed Power Buffer ETF

ISEPNYSE ArcaInnovatorB

$34.88+0.06 (+0.16%)

As of Nov 2, 2026, 3:59 PM ET

B53/ 100

Rank 7 of 26 in Developed International Buffer 15%

B53/100Rank 7 of 26inDeveloped International Buffer 15%
Intraday session: up, 78 prints from 34.83 to 34.88. Range 34.88 to 35.06. Use the arrow keys to read each point.34.9535.0035.0510 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$106M
1Y total return
+9.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
22.8K sh
52W range
low $31.27high $35.83
Launched

The ETF.net ISEP Grade

Based on 5 of 6 pillars

B

Score 53 out of 100

Category
Developed International Buffer 15%⁠
Rank
7 of 26
Six-pillar profile for ISEP. Scores out of 100: Cost 38, Risk 52, Mission 62, Tradability 81, Holdings not scored, Durability 70. Strongest: Tradability (81). Weakest: Cost (38). Based on 5 of 6 pillars.

Score 53 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. The letter stays B for now. A new letter must hold for 3 published runs before it replaces it.

  • 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.
    B62 out of 100
    Rank 4 of 4

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C52 out of 100
    Rank 10 of 26

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A81 out of 100
    Rank 4 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.
    A70 out of 100
    Rank 9 of 26

Our read on ISEP

ETF.net Research

In short

BBuffers are everywhere on the S&P 500, far rarer overseas. ISEP wraps the big MSCI EAFE developed-markets fund and absorbs the first 15% of losses over a one-year outcome period that resets each September, with upside capped in return.

Stated mandate

The fund seeks defined-outcome exposure to the iShares MSCI EAFE ETF (EFA), providing upside participation up to a cap while protecting against the first 15% of losses during the annual outcome period.

Why people hold it

  • The 15% buffer is written into the fund's own terms, not a hope: it covers the first slice of reference-fund losses across a defined one-year period that resets every September 1.
  • Foreign-stock exposure, not another S&P 500 clone: the reference asset is the iShares MSCI EAFE ETF, the standard developed-markets basket outside the US.
  • Fee of 0.85% sits right at the median for developed-market buffer funds and under the 0.90% charged by some funds tracking the same reference (YSEP, YDEC).
  • One of the stronger builds in a crowded 17-fund buffer group, and part of a monthly series on the same reference, so start dates can be laddered across the calendar.

Worth knowing

  • The trade for the buffer is a ceiling. The cap is reset each September from option prices at that moment, so how much upside you hand over changes period to period.
  • Buying mid-period is a different deal than buying at the reset: how much buffer and cap remain depends on where the reference fund has moved since September 1.
  • Trading is thin next to plain index funds, so spreads can be wider and patient limit orders matter more, especially in size.

ISEP Performance

Launched Sep 1, 2023

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.
ISEP$10,922
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. ISEP $10,922. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 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 ISEP. Periods over one year show the average yearly return.
PeriodISEP
Year to date+6.9%
1 month−0.3%
3 months−0.8%
1 year+9.2%
3 yearsper year+13.2%
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 ISEP
YearReturn barISEP
2026 YTD+6.9%
2025+18.3%
2024+5.4%
2023+4.6%

Since listing, Sep 1, 2023

ISEP in the news

ISEP Dividends

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

No distributions in the last 12 months.

ISEP Risk

Risk pillarC52 out of 100Rank 10 of 26 in Developed International Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
7.6%
Annualised · 36 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.
1.09
vs 3-month T-bills · 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.
−7.4%
37 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.
0.36
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.

ISEP Cost

Compare ISEP 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.

  • ISEP 0.85%

    $16,199

  • IDJN 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • ISEP 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$20K051015202530ISEP $16,199IDJN $6,149

Year by year

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

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