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Launched · SEC filings

Innovator U.S. Small Cap Managed 10 Buffer ETF

KBFRNYSE ArcaInnovatorB

$26.96+0.18 (+0.68%)

As of Nov 2, 2026, 10:21 AM ET

B63/ 100

Rank 1 of 11 in Other Buffered

B63/100Rank 1 of 11inOther Buffered
Intraday session: up, 5 prints from 26.78 to 26.96. Range 26.78 to 26.96. Use the arrow keys to read each point.26.8026.8526.9010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$13M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
833
Avg volume · 30D
3.25K sh
52W range
low $24.06high $28.09
Launched
Filings
SEC EDGAR

The ETF.net KBFR Grade

Based on 5 of 6 pillars

B

Score 63 out of 100

Category
Other Buffered⁠
Rank
1 of 11
Six-pillar profile for KBFR. Scores out of 100: Cost 75, Risk 48, Mission not scored, Tradability 42, Holdings 88, Durability 48. Strongest: Holdings (88). Weakest: Tradability (42). Based on 5 of 6 pillars.

Score 63 of 100 falls in the B 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.
    A75 out of 100
    Rank 2 of 11

  • 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.
    C48 out of 100
    Rank 5 of 11

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C42 out of 100
    Rank 8 of 11

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A88 out of 100
    Rank 1 of 7

  • 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 7 of 11

Our read on KBFR

ETF.net Research

In short

BSmall caps with a seatbelt. Innovator's actively managed fund owns roughly 800 U.S. small caps and layers options on top, built around the 10% buffer in its name, and it undercuts the typical buffer fund on fee.

Stated mandate

The Fund seeks long-term capital gains while mitigating overall market risk. It is actively managed and uses equity and option positions to provide risk-managed U.S. small-cap exposure.

Why people hold it

  • Costs 0.79% a year, below the 0.89% typical of buffer funds in its group.
  • Actively managed and holds about 800 small caps outright, with the option positions layered on top rather than standing in for the stocks.
  • Buffered small-cap exposure is a thin shelf. Its nearest cohort peers cushion international stocks (IBUF), equal-weight U.S. (RSJN) or long Treasuries (TBJL).
  • Adds up to one of the stronger overall packages among the buffer funds we grade.

Worth knowing

  • Launched in 2026, so there is little live history behind any read on how it handles a real drawdown.
  • Small and thinly traded, so bid-ask spreads and premiums can run wider than in the big buffer names.
  • The buffer absorbs a slice of losses, not all of them, and the option overlay means results can part ways with the small-cap market in both directions.

KBFR Holdings

Holdings pillarA88 out of 100Rank 1 of 7 in Other Buffered
Asset class
Other
Holdings
833
Top-10 weight
9%
Largest holding
Us Bank Mmda - Usbgfs 9 09/01/20372.3%

Geography

  • United States96.60%
  • Bermuda1.59%
  • Monaco0.20%
  • Ireland0.20%
  • Singapore0.19%
  • Switzerland0.19%
  • United Kingdom0.17%
  • Luxembourg0.17%
  • Other countries (7)0.71%
The fund’s holdings, weight-ordered — page 1 of 56.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1No dataUs Bank Mmda - Usbgfs 9 09/01/20372.34%312,851$313K163
2No dataIwm 06/30/2027 300 P2.24%115$300K1
3No dataIwm 09/30/2027 279 P1.42%103$189K1
4No dataCash & Other0.57%76,049$76K609
5No dataIwm 03/31/2027 247 P0.40%115$53.4K1
6TWSTTwist Bioscience Corp0.37%320$48.9K127
7TXG10X Genomics Inc0.35%660$46.3K135
8PBFPBF Energy Inc0.32%550$42.9K166
9OPCHOption Care Health Inc0.31%1,303$41.5K143
10SMSM Energy Co0.31%1,014$40.9K166
11GTLBGitlab Inc0.29%724$39.2K121
12VGVenture Global Inc0.29%2,603$38.5K105
13ELFelf Beauty Inc0.28%341$38.1K125
14No dataIwm 12/31/2026 260 P0.28%115$37.9K1
15MMSIMerit Medical Systems Inc0.28%430$37.1K134

Showing 1–15 of 833 holdings

KBFR Performance

Launched Feb 24, 2026

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.Not enough history yet.Not enough history yet.
KBFR$9,923
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$10,141
Jul 31, 2026 to Oct 30, 2026. KBFR $9,923. SPY $10,141. Use the arrow keys to read each point.$9,750$10,000$10,250$10,500Jul 2026Sep 2026Oct 2026

Jul 31, 2026 – 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 KBFR. Periods over one year show the average yearly return.
PeriodKBFR
Year to dateFund launched this yearNo data
1 month+1.5%
3 months−0.8%
1 yearFund is under 1 year oldNo data
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 KBFR
YearReturn barKBFR
2026 YTD+7.8%

Since listing, Feb 24, 2026

KBFR in the news

KBFR Dividends

Last payment
$0.04 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. 3 payments in 2026 YTD. Mar 31, 2026 $0.03; Jun 30, 2026 $0.05; Sep 30, 2026 $0.04. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Sep 30, 2026Oct 2, 2026$0.04
Jun 30, 2026Jul 1, 2026$0.05
Mar 31, 2026Apr 1, 2026$0.03

KBFR Risk

Risk pillarC48 out of 100Rank 5 of 11 in Other Buffered
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.
0.24
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.

KBFR Cost

Tied cheapest in Other Buffered

$15,174

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

  • KBFR 0.79%

    $15,174

$10,000
30 years

Cost over time

  • KBFR 0.79%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530KBFR $15,174

Year by year

YearKBFR
10$1,405
20$5,331
30$15,174

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