Innovator Power Buffer Step-Up Strategy ETF
$37.85+0.01 (+0.01%)
- 0.89%
- $134M
- +9.8%
- 0M sh
- $37.85
- low $33.12high $37.91
The ETF.net PSTP Grade
F
Score 24 out of 100
- 57 of 61
Score 24 of 100 falls in the F 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.F0 out of 100Rank 61 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.D34 out of 100Rank 49 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C50 out of 100Rank 35 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.B63 out of 100Rank 27 of 61
Our read on PSTP
FMost buffer ETFs hand you one reset date a year and wish you luck. PSTP is checked monthly and can step its protection up to a higher level after a rally, with one-year FLEX options doing the work behind a single ticker.
PSTP seeks risk-managed exposure to SPY through an opportunistically managed, monthly evaluated buffer strategy. It uses one-year FLEX options and may also invest directly in SPY or its components, subject to an upside limit and downside-loss protection.
Why people hold it
- The step-up idea: the buffer is evaluated monthly rather than parked on one annual reset date, so a rally can lift the level the protection is measured from.innovatoretfs.com
- One ticker, no calendar homework. The reset timing is managed inside the fund instead of you laddering a shelf of dated January-through-December series.innovatoretfs.com
- The reference is SPY itself, and the fund can hold SPY or its components directly alongside the one-year FLEX options rather than tracking a synthetic proxy.innovatoretfs.com
Worth knowing
- Active management costs: 0.89% a year, above the 0.79% median for S&P 500 buffer funds and above Innovator's own dated Power Buffer series such as PMAY.
- The cushion is bought with your upside: gains are capped, and anyone buying mid-period inherits whatever cap and remaining buffer exist that day, not the headline terms.innovatoretfs.com
- Trading is light next to the category's household names, so spreads can widen, and the options package has not been throwing off distributions.
PSTP Holdings
- Stocks
- 3
- 104%
- Spy 08/31/2027 7.66 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%
PSTP 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.Not enough history yet.
PSTP$10,984
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 | PSTP |
|---|---|
| Year to date | +7.1% |
| 1 month | +1.2% |
| 3 months | +2.4% |
| 1 year | +9.8% |
| 3 years | +12.1% |
| 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 | PSTP |
|---|---|---|
| 2026 YTD | +7.1% | |
| 2025 | +10.4% | |
| 2024 | +13.5% | |
| 2023 | +13.7% | |
| 2022 | −2.8% |
PSTP in the news
PSTP Dividends
No distributions in the last 12 months.
PSTP Risk
- 6.0%
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.
- 1.19
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.
- −12.5%
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.
PSTP Cost
0.89%
PSTP0.89%
- The middle half of S&P 500 Buffer 15% funds
- Median 0.79%
Every other S&P 500 Buffer 15% fund charges less.
Other funds in S&P 500 Buffer 15%
- DGOCTFT Vest U.S. Equity Moderate Buffer ETF - OctoberExpense ratio 0.85%1 year return +12.5%
- DJNEUAIM ETF Products Trust - AllianzIM U.S. Equity Buffer15 Uncapped Jun ETFExpense ratio 0.74%1 year return +15.2%
- DSPBUAllianzIM Buffer15 Uncapped Allocation ETFExpense ratio 0.79%1 year return +13.7%
- DMARUAIM ETF Products Trust - AllianzIM U.S. Equity Buffer15 Uncapped Mar ETFExpense ratio 0.74%1 year return +13.3%
- DNVBUAIM ETF Products Trust - AllianzIM U.S. Equity Buffer15 Uncapped Nov ETFExpense ratio 0.74%1 year return +14.2%