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Launched

Innovator Premium Income 15 Buffer ETF

LOCTCboeInnovatorC

$23.76−0.03 (−0.13%)

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

C48/ 100

Rank 22 of 61 in S&P 500 Buffer 15%

C48/100Rank 22 of 61inS&P 500 Buffer 15%
Intraday session: down, 78 prints from 23.79 to 23.76. Range 23.75 to 23.82. Use the arrow keys to read each point.23.7823.8023.8210 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$11M
1Y total return
+5.4%
Yield · Last 12 months
5.66%
Holdings
12
Avg volume · 30D
1.99K sh
52W range
low $23.48high $24.05
Launched

The ETF.net LOCT Grade

Based on 5 of 6 pillars

C

Score 48 out of 100

Category
S&P 500 Buffer 15%⁠
Rank
22 of 61
Six-pillar profile for LOCT. Scores out of 100: Cost 35, Risk 68, Mission 34, Tradability 56, Holdings not scored, Durability 51. Strongest: Risk (68). Weakest: Mission (34). Based on 5 of 6 pillars.

Score 48 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.
    D35 out of 100
    Rank 34 of 61

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    D34 out of 100
    Rank 7 of 7

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B68 out of 100
    Rank 7 of 60

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    B56 out of 100
    Rank 27 of 61

  • 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.
    C51 out of 100
    Rank 31 of 61

Our read on LOCT

ETF.net Research

In short

CMost buffer funds trade your upside for a capped shot at growth. LOCT trades it for income: a defined distribution rate paid monthly, with the first 15% of SPY's losses absorbed over each 12-month outcome period.

Stated mandate

The Fund seeks performance equal to its Defined Distribution Rate for each Outcome Period while protecting against the first 15% of SPY losses during each 12-month Outcome Period.

Why people hold it

  • Income-first design. The fund seeks performance equal to its stated Defined Distribution Rate for each outcome period, and it pays monthly rather than hoarding returns for the reset.
  • The first 15% of SPY losses in each 12-month outcome period is absorbed by the structure, and the terms reset every October like clockwork.
  • The 0.79% fee sits right at the median for its buffer peer group and matches Innovator's Power Buffer siblings (POCT, PJUL) for the same wrapper work.
  • Built as a 1940 Act fund, not a bank-issued note, so the defined outcome doesn't ride on a single issuer's balance sheet.

Worth knowing

  • Upside is defined, not open-ended. The target is the distribution rate, so a roaring year in SPY doesn't flow through as extra return.
  • Small asset base and thin trading. Limit orders and a glance at the spread matter more here than with a mainstream index fund.
  • The buffer is measured from the start of the October outcome period. Buy mid-period and you inherit whatever protection is left, not a fresh 15%.

LOCT Performance

Launched Oct 2, 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.
LOCT$10,535
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. LOCT $10,535. 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 LOCT. Periods over one year show the average yearly return.
PeriodLOCT
Year to date+4.1%
1 month+0.4%
3 months+1.0%
1 year+5.4%
3 yearsper year+5.9%
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 LOCT
YearReturn barLOCT
2026 YTD+4.1%
2025+5.5%
2024+5.2%
2023+2.9%

Since listing, Oct 2, 2023

LOCT in the news

LOCT 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 Oct 30, 2026.
5.66%Last 12 months
Payout per share
$1.35Last 12 months
Upcoming payment
$0.11 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2023–2026

One bar per payment. 37 payments from 2023 to 2026 YTD. Oct 30, 2023 $0.13; Nov 29, 2023 $0.13; Dec 28, 2023 $0.13; Jan 30, 2024 $0.13; Feb 28, 2024 $0.13; Mar 27, 2024 $0.13; Apr 29, 2024 $0.13; May 31, 2024 $0.13; Jun 28, 2024 $0.13; Jul 31, 2024 $0.13; Aug 30, 2024 $0.13; Sep 30, 2024 $0.13; Oct 31, 2024 $0.10; Nov 29, 2024 $0.10; Dec 31, 2024 $0.10; Jan 31, 2025 $0.10; Feb 28, 2025 $0.10; Mar 31, 2025 $0.10; Apr 30, 2025 $0.10; May 30, 2025 $0.10; Jun 30, 2025 $0.10; Jul 31, 2025 $0.10; Aug 29, 2025 $0.10; Sep 30, 2025 $0.10; Oct 31, 2025 $0.10; Nov 28, 2025 $0.10; Dec 31, 2025 $0.10; Jan 30, 2026 $0.10; Feb 27, 2026 $0.10; Mar 31, 2026 $0.10; Apr 30, 2026 $0.10; May 29, 2026 $0.10; Jun 30, 2026 $0.10; Jul 30, 2026 $0.10; Aug 31, 2026 $0.10; Sep 30, 2026 $0.10; Oct 30, 2026 $0.11. Use the arrow keys to read each point.2023202420252026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Pays Nov 2, 2026$0.11
Sep 30, 2026Oct 2, 2026$0.10
Aug 31, 2026Sep 1, 2026$0.10
Jul 30, 2026Aug 3, 2026$0.10
Jun 30, 2026Jul 1, 2026$0.10
May 29, 2026Jun 1, 2026$0.10
Apr 30, 2026May 1, 2026$0.10
Mar 31, 2026Apr 1, 2026$0.10
Feb 27, 2026Mar 2, 2026$0.10
Jan 30, 2026Feb 2, 2026$0.10
Dec 31, 2025Jan 2, 2026$0.10
Nov 28, 2025Dec 1, 2025$0.10

See all 37 payments⁠

$10,000 in LOCT 3 years ago paid $1,678 in dividends.⁠

LOCT Risk

Risk pillarB68 out of 100Rank 7 of 60 in S&P 500 Buffer 15%
How much the fund’s monthly returns vary, scaled to a year.
1.7%
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.
0.78
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.
−4.7%
36 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.
0.11
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.

LOCT Cost

Compare LOCT and CAUG

Overpaying vs CAUG, tied cheapest in S&P 500 Buffer 15%

$9,025

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

  • LOCT 0.79%

    $15,174

  • CAUG 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • LOCT 0.79%
  • CAUG 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$20K051015202530LOCT $15,174CAUG $6,149

Year by year

YearLOCTCAUGOverpaying
10$1,405$545$860
20$5,331$2,113$3,218
30$15,174$6,149$9,025

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