Innovator U.S. Equity Power Buffer ETF
$47.61+0.01 (+0.02%)
- 0.79%
- $998M
- +14.4%
- 0M sh
- $47.64
- low $41.61high $47.66
The ETF.net PDEC Grade
C
Score 46 out of 100
- 25 of 61
Score 46 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 100Rank 34 of 61Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C46 out of 100Rank 41 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B60 out of 100Rank 23 of 59Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A80 out of 100Rank 10 of 61
Our read on PDEC
CThe December door into Innovator's buffer lineup: it tracks SPY up to a preset cap while absorbing the first 15% of losses. Running since 2019, it resets each December 1 and can be held indefinitely.
The Fund seeks to track SPY’s return up to a predetermined cap and buffer investors against an initial portion of losses over the outcome period, before fees and expenses.
Why people hold it
- The cushion is thick: the first 15% of SPY's losses over the outcome period are absorbed before fees. Past that, losses land one for one.sec.gov
- Set-and-reset mechanics. The cap and 15% buffer refresh at the start of each December outcome period, and shares can be held straight through the rollover.innovatoretfs.com
- Innovator launched the first defined-outcome buffer ETFs, and this December vintage dates to 2019. It sits among the stronger builds in its buffer peer group.innovatoretfs.com
Worth knowing
- The cap is the rent you pay for the cushion. Upside above it is left on the table, and each December's cap is set by option pricing at the time.innovatoretfs.com
- Buy mid-period and your cap and remaining buffer differ from the headline terms. Shares also trade lightly, so the spread deserves a look.innovatoretfs.com
- At 0.79% it sits right at the buffer-category median, and laddered rivals like PSFF (0.10%) and BUFP (0.50%) run cheaper.
PDEC Holdings
- Stocks
- 3
- 103%
- Spy 11/30/2026 6.83 C
Sectors
- Technology40.1%
- Financials11.3%
- Communication9.9%
- Health Care9.4%
- Consumer Discretionary8.7%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities1.9%
- Real Estate1.7%
- Materials1.6%
PDEC Performance
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.
PDEC$11,442
Returns run to the Oct 12, 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 | PDEC |
|---|---|
| Year to date | +9.7% |
| 1 month | +1.3% |
| 3 months | +3.0% |
| 1 year | +14.4% |
| 3 years | +13.3% |
| 5 years | +9.1% |
| 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 | PDEC |
|---|---|---|
| 2026 YTD | +9.7% | |
| 2025 | +12.9% | |
| 2024 | +9.5% | |
| 2023 | +17.4% | |
| 2022 | −5.9% | |
| 2021 | +9.6% | |
| 2020 | +8.5% |
PDEC in the news
PDEC Dividends
No distributions in the last 12 months.
PDEC Risk
- 7.3%
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.
- 1.15
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.
- −11.5%
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.
- 0.52
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PDEC Cost
0.79%
PDEC0.79%
- The middle half of S&P 500 Buffer 15% funds
- Median 0.79%
23 of the 51 S&P 500 Buffer 15% funds charge less.
Other funds in S&P 500 Buffer 15%
- CPNOVInnovator U.S. Equity Power Buffer ETFExpense ratio 0.79%1 year return +12.8%
- CTENMiShares Large Cap 10% Target Buffer Mar ETFExpense ratio 0.53%1 year return —
- CPFEBInnovator U.S. Equity Power Buffer ETFExpense ratio 0.79%1 year return +13.4%
- CXOCTFT Vest U.S. Equity Enhance & Moderate Buffer ETF - OctoberExpense ratio 0.85%1 year return +9.7%
- CGJUNFT Vest U.S. Equity Moderate Buffer ETF - JuneExpense ratio 0.85%1 year return +9.9%