Innovator U.S. Equity Power Buffer ETF
$44.48−0.07 (−0.16%)
- 0.79%
- $896M
- +13.4%
- 0M sh
- $44.51
- low $39.26high $44.55
The ETF.net PFEB 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.C50 out of 100Rank 24 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B56 out of 100Rank 27 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.A79 out of 100Rank 11 of 61
Our read on PFEB
CFebruary is the whole point. PFEB restarts each year with a fresh 15% cushion against SPY losses, in exchange for a ceiling on the upside that resets at the same time. Same recipe as its sibling months, different calendar.
The Fund seeks to follow SPY’s return up to a predetermined cap and protect investors from the first 15% of losses during the outcome period.
Why people hold it
- The contract is simple: absorb the first 15% of SPY's decline over the outcome period, then follow SPY's gains up to a predetermined cap.innovatoretfs.com
- The reference asset is SPY itself, not a bespoke in-house index. You are hedging the same S&P 500 exposure millions of people already hold.innovatoretfs.com
- At 0.79%, the fee sits right at the middle of its buffer-fund cohort. The options machinery costs what it costs across this group.
- Innovator has run the February lane since 2020, and the fund stands in the upper half of a crowded field of 15% buffer strategies.
Worth knowing
- Buffer and cap are defined for a full outcome period. Enter mid-period and you inherit whatever cushion and upside are left, not the headline 15%.innovatoretfs.com
- The cap cuts both ways. In a roaring year for the S&P 500, participation stops where the cap stops.innovatoretfs.com
- It trades less actively than the largest buffer ETFs, which can show up as wider bid-ask spreads. Also a price-return vehicle: no distribution stream.
PFEB Holdings
- Stocks
- 3
- 104%
- Spy 01/29/2027 6.92 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%
PFEB 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.
PFEB$11,336
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 | PFEB |
|---|---|
| Year to date | +9.4% |
| 1 month | +1.2% |
| 3 months | +2.9% |
| 1 year | +13.4% |
| 3 years | +13.2% |
| 5 years | +9.2% |
| 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 | PFEB |
|---|---|---|
| 2026 YTD | +9.4% | |
| 2025 | +10.7% | |
| 2024 | +12.7% | |
| 2023 | +15.0% | |
| 2022 | −2.8% | |
| 2021 | +11.5% | |
| 2020 | +6.2% |
PFEB in the news
PFEB Dividends
No distributions in the last 12 months.
PFEB Risk
- 6.2%
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.
- 1.30
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.
- −11.0%
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.
- 0.45
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
PFEB Cost
0.79%
PFEB0.79%
- 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%
- CTENMiShares Large Cap 10% Target Buffer Mar ETFExpense ratio 0.53%1 year return —
- CPDECInnovator U.S. Equity Power Buffer ETFExpense ratio 0.79%1 year return +14.4%
- 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%
- CGMARFT Vest U.S. Equity Moderate Buffer ETF - MarchExpense ratio 0.85%1 year return +14.0%