Innovator Premium Income 15 Buffer ETF
$23.90−0.03 (−0.13%)
- Expense ratio
- 0.79%
- Fund size
- $11M
- 1Y return
- +5.3%
- Yield · Last 12 months
- 5.15%
- Holdings
- 8
- Volume · 30D
- 0M sh
- NAV per share
- $23.90
- 52W range
The ETF.net LOCT Grade
Score 49 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 35Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 65Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 62Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 52Category rank
Our read on LOCT
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.
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 Holdings
- Other
- 8
- 100%
- United States Treasury Bill 10/01/2026
LOCT Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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.
| Period | LOCT |
|---|---|
| Year to date | +3.6% |
| 1 month | +0.3% |
| 3 months | +1.0% |
| 1 year | +5.3% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | LOCT |
|---|---|---|
| 2026 YTD | +3.6% | |
| 2025 | +5.5% | |
| 2024 | +5.2% | |
| 2023 | +2.9% |
LOCT in the news
ETF.net Research hasn’t filed on LOCT yet — coverage lands here as it’s written.
LOCT Dividends
- 5.15%
- $1.23
- $0.10 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 1, 2026 | $0.10 |
| Jul 31, 2026 | Aug 3, 2026 | $0.10 |
| Jun 30, 2026 | Jul 1, 2026 | $0.10 |
| May 29, 2026 | Jun 1, 2026 | $0.10 |
| Apr 30, 2026 | May 1, 2026 | $0.10 |
| Mar 31, 2026 | Apr 1, 2026 | $0.10 |
| Feb 27, 2026 | Mar 2, 2026 | $0.10 |
| Jan 30, 2026 | Feb 2, 2026 | $0.10 |
| Dec 31, 2025 | Jan 2, 2026 | $0.10 |
| Nov 28, 2025 | Dec 1, 2025 | $0.10 |
| Oct 31, 2025 | Nov 3, 2025 | $0.10 |
| Sep 30, 2025 | Oct 2, 2025 | $0.10 |
LOCT Risk
- 1.7%
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.
- 0.81
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.
- −4.7%
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.
- 0.11
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
LOCT Cost
- The middle half of S&P 500 Buffer 15% funds
- Median 0.79%
22 of the 50 S&P 500 Buffer 15% funds charge less.