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KBFR

GradeBNew York Stock Exchange Arca

Innovator U.S. Small Cap Managed 10 Buffer ETF

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

$26.93−0.05 (−0.19%)

As of Sep 23, 2026, 11:16 AM EDT

History starts Feb 24, 2026.History starts Feb 24, 2026.
Intraday session: down, 3 prints from 26.98 to 26.93. Range 26.93 to 26.98. Use the arrow keys to read each point.$26.94$26.96$26.9810 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$13M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
840
Volume · 30D
0M sh
NAV per share
$26.68
52W range
low $24.06high $28.09

The ETF.net KBFR Grade

B

64/ 100

Rank 1 of 11 in Other Buffered⁠

Confidence Medium

Six-pillar profile for KBFR. Scores out of 100: Cost 71, Risk 60, Mission not scored, Tradability 47, Holdings 89, Durability 49. Strongest: Holdings (89). Weakest: Tradability (47). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 64 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.
    AScore 71
    Category rank3/11 · top 27%

  • 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.
    BScore 60
    Category rank5/11 · top 45%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 47
    Category rank7/11 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    AScore 89
    Category rank1/7 · top 14%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    CScore 49
    Category rank7/11 · mid-pack

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

Our read on KBFR

ETF.net Research

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

  1. 01Costs 0.79% a year, below the 0.89% typical of buffer funds in its group.
  2. 02Actively managed and holds about 800 small caps outright, with the option positions layered on top rather than standing in for the stocks.
  3. 03Buffered small-cap exposure is a thin shelf. Its nearest cohort peers cushion international stocks (IBUF), equal-weight U.S. (RSJN) or long Treasuries (TBJL).
  4. 04Adds up to one of the stronger overall packages among the buffer funds we grade.

Worth knowing

  1. 01Launched in 2026, so there is little live history behind any read on how it handles a real drawdown.
  2. 02Small and thinly traded, so bid-ask spreads and premiums can run wider than in the big buffer names.
  3. 03The 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

As of Sep 22, 2026, 10:01 PM
Asset class
Other
Holdings
840
Top-10 weight
8%
Largest holding
US BANK MMDA - USBGFS 9 09/01/20373.1%

Geography

  • United States96.48%
  • Bermuda1.56%
  • Switzerland0.21%
  • Singapore0.20%
  • Ireland0.18%
  • Monaco0.18%
  • Panama0.15%
  • United Kingdom0.15%
  • Other countries (9)0.90%
The fund’s holdings, weight-ordered — page 1 of 56.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—US BANK MMDA - USBGFS 9 09/01/20373.06%410,062$410K161
002—IWM 06/30/2027 300 P1.92%115$258K1
003TWSTTwist Bioscience Corp0.40%320$53K123
004TXG10X Genomics Inc0.39%660$52K136
005—IWM 03/31/2027 247 P0.35%115$47K1
006PBFPBF Energy Inc0.30%550$40K158
007—IWM 12/31/2026 260 P0.29%115$38K1
008MMSIMerit Medical Systems Inc0.27%430$37K136
009GTLBGitlab Inc0.27%724$36K115
010SMSM Energy Co0.26%1,014$35K161
011MATXMatson Inc0.26%150$35K164
012ORKAOruka Therapeutics Inc0.26%370$35K89
013ELFelf Beauty Inc0.25%341$33K127
014GATXGATX Corp0.24%181$33K143
015ZETAZeta Global Holdings Corp0.24%1,041$32K95

Showing 1–15 of 834 holdings

KBFR Performance

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

KBFR$10,197
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. KBFR $10,197. SPY $10,415. Use the arrow keys to read each point.$9,728$10,203$10,678Jun 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 KBFR. Periods over one year show the average yearly return.
PeriodKBFR
Year to dateFund launched this year—
1 month−3.1%
3 months+2.0%
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 KBFR
YearReturn barKBFR
2026 YTD+8.4%

Since listing, Feb 24, 2026

KBFR in the news

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

KBFR 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
$0.05 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 $0.03; Jun 30, 2026 $0.05. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Jun 30, 2026Jul 1, 2026$0.05
Mar 31, 2026Apr 1, 2026$0.03

KBFR 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.
0.24
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.

KBFR Cost

Expense ratio0.79%
  • The middle half of Other Buffered funds
  • Median 0.85%

No Other Buffered fund charges less.

KBFR costs $79.00 a year on $10,000. The median Other Buffered fund costs $85.00.