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KOCT

GradeCChicago Board Options Exchange

Innovator U.S. Small Cap Power Buffer ETF

Buffered · Innovator · Inception 2019-10-01

$37.99−0.23 (−0.59%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 53 prints from 38.22 to 37.99. Range 37.94 to 38.16. Use the arrow keys to read each point.$37.95$38.05$38.10$38.1510 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$131M
1Y return
+14.6%
Yield · Last 12 months
0.00%
Holdings
6
Volume · 30D
0M sh
NAV per share
$38.01
52W range
low $32.13high $38.96

The ETF.net KOCT Grade

C

51/ 100

Rank 5 of 21 in Russell 2000 Buffer 15%⁠

Confidence Medium

Six-pillar profile for KOCT. Scores out of 100: Cost 35, Risk 46, Mission not scored, Tradability 79, Holdings not scored, Durability 84. Strongest: Durability (84). Weakest: Cost (35). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 51 of 100 sits in the C 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 35
    Category rank18/21 · bottom quartile

  • 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 46
    Category rank11/19 · mid-pack

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 79
    Category rank4/21 · top 19%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 84
    Category rank5/21 · top 24%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on KOCT

ETF.net Research

CSmall-cap exposure with a seatbelt. KOCT tracks IWM up to a yearly cap while absorbing the first 15% of losses, resetting each October 1. A 2019 original in a corner where most buffer funds are built on the S&P 500.

Stated mandate

The Fund seeks to track the return of the iShares Russell 2000 ETF, subject to a predetermined upside cap, while protecting against the first 15% of losses during the outcome period.

Why people hold it

  1. 01The contract is plain: track the iShares Russell 2000 ETF up to a preset cap, with the first 15% of losses over the one-year outcome period absorbed first.innovatoretfs.com
  2. 02Rare air: it listed October 1, 2019 in Innovator's first small-cap buffer wave. Most defined-outcome ETFs wrap the S&P 500, not the Russell 2000.accessnewswire.com
  3. 03Fee lands at 0.79%, the middle of its small-cap buffer group, and the fund rates in the upper half of that group on our review.
  4. 04You pick your calendar. This is the October reset; siblings KJAN, KAPR and KJUL run the same 15% buffer off other quarters.

Worth knowing

  1. 01The cap is the price of the cushion. A blistering small-cap year gets trimmed, and the cap is reset for each new outcome period starting October 1.
  2. 02Timing matters: Innovator notes the stated outcomes apply to holders from the first day of the outcome period through the last. Buy mid-period and your own cap and buffer differ.innovatoretfs.com
  3. 03Trading is light versus mainstream small-cap funds, and the options-based structure isn't built to throw off income.

KOCT Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
102%
Largest holding
4IWM US 09/30/26 C2.42 FLX101.3%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—4IWM US 09/30/26 C2.42 FLX101.29%4,706$133M1
002—US BANK MMDA - USBGFS 9 09/01/20370.23%306,746$307K161
003—4IWM US 09/30/26 P241.96 FLX<0.01%4,706$13K1

Showing 1–3 of 3 holdings

KOCT Performance

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

KOCT$11,455
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. KOCT $11,455. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – 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 KOCT. Periods over one year show the average yearly return.
PeriodKOCT
Year to date+13.5%
1 month+0.7%
3 months+2.9%
1 year+14.6%
3 years+14.4%per year
5 years+7.3%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 KOCT
YearReturn barKOCT
2026 YTD+13.5%
2025+10.1%
2024+11.1%
2023+9.0%
2022−7.9%
2021+5.7%
2020+2.6%

KOCT in the news

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

KOCT 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.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2019

One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.20. Use the arrow keys to read each point.2019
Ex-datePay dateAmount per share
Nov 19, 2019Nov 21, 2019$0.20

KOCT Risk

How much the fund’s monthly returns vary, scaled to a year.
10.0%
Annualised · 36 months to Aug 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.
0.70
vs 3-month T-bills · to Aug 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.
−16.6%
Trough Jun 2022
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.
0.69
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.

KOCT Cost

Expense ratio0.79%
  • The middle half of Russell 2000 Buffer 15% funds
  • Median 0.74%

8 of the 14 Russell 2000 Buffer 15% funds charge less.

KOCT costs $79.00 a year on $10,000. The median Russell 2000 Buffer 15% fund costs $74.00.