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Launched · SEC filings

Innovator Nasdaq-100 Managed 10 Buffer ETF

NBFRNYSE ArcaInnovatorD

$25.83+0.12 (+0.47%)

As of Nov 2, 2026, 12:16 PM ET

D34/ 100

Rank 12 of 12 in Nasdaq-100 Buffer 9-12%

D34/100Rank 12 of 12inNasdaq-100 Buffer 9-12%
Intraday session: up, 34 prints from 25.71 to 25.83. Range 25.83 to 25.96. Use the arrow keys to read each point.25.7525.8025.9025.9510 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$21M
1Y total return
No data
Yield · Last 12 months
No data
Holdings
49
Avg volume · 30D
5.17K sh
52W range
low $23.77high $27.58
Launched
Filings
SEC EDGAR

The ETF.net NBFR Grade

Based on 5 of 6 pillars

D

Score 34 out of 100

Category
Nasdaq-100 Buffer 9-12%⁠
Rank
12 of 12
Six-pillar profile for NBFR. Scores out of 100: Cost 46, Risk 15, Mission not scored, Tradability 12, Holdings 76, Durability 10. Strongest: Holdings (76). Weakest: Durability (10). Based on 5 of 6 pillars.

Score 34 of 100 falls in the D 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.
    C46 out of 100
    Rank 6 of 12

  • 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.
    F15 out of 100
    Rank 11 of 12

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F12 out of 100
    Rank 12 of 12

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    A76 out of 100
    Rank 2 of 6

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F10 out of 100
    Rank 12 of 12

Our read on NBFR

ETF.net Research

In short

DInnovator's Nasdaq-100 buffer, minus the calendar. NBFR spreads its options across a laddered set of periods with a manager steering them, aiming to absorb roughly the first 10% to 14% of index losses.

Stated mandate

The Fund seeks capital appreciation through Nasdaq-100 equity exposure while using an actively managed, laddered options strategy to reduce volatility and protect approximately 10% to 14% of reference-asset losses.

Why people hold it

  • Laddered by design: protection is staggered across overlapping option periods instead of hinging on one annual reset date, so entry timing matters less.
  • Actively managed, not rules-on-rails: a manager runs the option ladder with a stated goal of damping volatility on Nasdaq-100 exposure.
  • Fee sits at the middle of its Nasdaq-100 buffer peer group at 0.79%, the same sticker as Innovator's date-locked sibling QBUF.

Worth knowing

  • Cheaper routes to Nasdaq-100 buffering exist in the same cohort: PGIM's dated buffer funds charge 0.50% and Global X's QTR 0.25%.
  • Launched in 2026, so the record is short, and it trades lightly next to the category's household names, which can mean wider spreads.
  • The buffer is a slice, not a floor: roughly 10% to 14% of index declines. Losses past that pass through to shareholders.

NBFR Holdings

Holdings pillarA76 out of 100Rank 2 of 6 in Nasdaq-100 Buffer 9-12%
Asset class
Other
Holdings
49
Top-10 weight
54%
Largest holding
AAPL9.0%

Geography

  • United States96.93%
  • Netherlands1.98%
  • United Kingdom1.08%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1AAPLApple Inc8.98%5,354$1.85M723
2NVDANVIDIA Corp8.37%8,402$1.72M848
3MSFTMicrosoft Corp7.95%3,131$1.63M819
4AMZNAmazon.com Inc4.93%4,215$1.01M738
5WMTWalmart Inc4.89%8,134$1M469
6MUMicron Technology Inc4.64%1,077$953K686
7AMDAdvanced Micro Devices Inc4.21%1,714$865K638
8TSLATesla Inc3.96%2,035$814K528
9METAMeta Platforms Inc3.42%1,144$704K708
10AVGOBroadcom Inc3.04%1,916$625K753
11GOOGLAlphabet Inc3.02%2,216$620K707
12GOOGAlphabet Inc2.86%2,113$588K480
13SPCXSpace Exploration Technologies Corp2.79%4,253$573K299
14No dataQqq 09/30/2027 743 P2.50%71$514K1
15No dataUs Bank Mmda - Usbgfs 9 09/01/20372.50%513,260$513K163

Showing 1–15 of 49 holdings

NBFR 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.
NBFR$9,857
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. NBFR $9,857. SPY $10,141. Use the arrow keys to read each point.$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 NBFR. Periods over one year show the average yearly return.
PeriodNBFR
Year to dateFund launched this yearNo data
1 month−4.8%
3 months−1.4%
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 NBFR
YearReturn barNBFR
2026 YTD+1.7%

Since listing, Feb 24, 2026

NBFR in the news

NBFR Dividends

Last payment
$0.006 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Irregular

Distribution data unavailable.

Distribution history

2026

One bar per payment. 1 payment in 2026 YTD. Mar 31, 2026 $0.006. Use the arrow keys to read each point.2026YTD
Ex-datePay dateAmount per share
Mar 31, 2026Apr 1, 2026$0.006

NBFR Risk

Risk pillarF15 out of 100Rank 11 of 12 in Nasdaq-100 Buffer 9-12%
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.
0.56
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.

NBFR Cost

Compare NBFR and QTR

Overpaying vs QTR, cheapest in Nasdaq-100 Buffer 9-12%

$10,015

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

  • NBFR 0.79%

    $15,174

  • QTR 0.25% Cheapest

    $5,159

$10,000
30 years

Cost over time

  • NBFR 0.79%
  • QTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530NBFR $15,174QTR $5,159

Year by year

YearNBFRQTROverpaying
10$1,405$455$950
20$5,331$1,769$3,562
30$15,174$5,159$10,015

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