Skip to content
etf.net

Launched

Innovator Equity Premium Income – Daily PutWrite ETF

SPUTNYSE ArcaInnovatorC

$28.52+0.12 (+0.42%)

As of Nov 2, 2026, 11:44 AM ET

C52/ 100

Rank 32 of 52 in S&P 500 Option Income

C52/100Rank 32 of 52inS&P 500 Option Income
Intraday session: up, 25 prints from 28.40 to 28.52. Range 28.49 to 28.52. Use the arrow keys to read each point.28.4328.4528.4828.5010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$17M
1Y total return
+9.4%
Yield · Last 12 months
5.06%
Holdings
501
Avg volume · 30D
2.37K sh
52W range
low $26.08high $29.93
Launched

The ETF.net SPUT Grade

Based on 5 of 6 pillars

C

Score 52 out of 100

Category
S&P 500 Option Income⁠
Rank
32 of 52
Six-pillar profile for SPUT. Scores out of 100: Cost 31, Risk 64, Mission 98, Tradability 14, Holdings not scored, Durability 37. Strongest: Mission (98). Weakest: Tradability (14). Based on 5 of 6 pillars.

Score 52 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.
    D31 out of 100
    Rank 34 of 52

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A98 out of 100
    Rank 13 of 36

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    B64 out of 100
    Rank 15 of 52

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    F14 out of 100
    Rank 51 of 52

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    Not scored

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    D37 out of 100
    Rank 46 of 52

Our read on SPUT

ETF.net Research

In short

CMost S&P 500 income ETFs sell calls on stock they own. SPUT flips the trade: an actively run large-cap sleeve paired with puts written on the index every single day, with cash paid out monthly.

Stated mandate

The Fund seeks current income while providing capital appreciation through an actively managed equity portfolio and a daily put-write options strategy.

Why people hold it

  • Income comes from writing puts on the S&P 500, not calls on its own shares, so the options engine sits alongside the equity sleeve instead of on top of it.innovatoretfs.com
  • Puts are written daily rather than once a month, spreading strike-setting across many entry points instead of one date on the calendar.innovatoretfs.com
  • Pays monthly, and the stock side is a broad active portfolio of roughly 500 names rather than a handful of megacaps.

Worth knowing

  • The 0.79% fee sits above what most S&P 500 income funds charge: IVVW runs 0.25%, GPIX 0.35%.
  • Launched in 2025, still small and thinly traded, so bid-ask spreads can run wider than in the category's heavyweights.
  • Innovator discloses that monthly distributions can include return of capital, meaning part of a payout may be your own money coming back.innovatoretfs.com

SPUT Performance

Launched Mar 14, 2025

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.
SPUT$10,942
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. SPUT $10,942. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – 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 SPUT. Periods over one year show the average yearly return.
PeriodSPUT
Year to date+8.0%
1 month−0.3%
3 months+1.7%
1 year+9.4%
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 SPUT
YearReturn barSPUT
2026 YTD+8.0%
2025+13.2%

Since listing, Mar 14, 2025

SPUT in the news

SPUT Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Oct 30, 2026.
5.06%Last 12 months
Payout per share
$1.44Last 12 months
Upcoming payment
$0.09 per share
Pays on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 20 payments from 2025 to 2026 YTD. Mar 31, 2025 $0.06; Apr 30, 2025 $0.20; May 30, 2025 $0.15; Jun 30, 2025 $0.11; Jul 31, 2025 $0.13; Aug 29, 2025 $0.11; Sep 30, 2025 $0.13; Oct 31, 2025 $0.13; Nov 28, 2025 $0.16; Dec 31, 2025 $0.11; Jan 30, 2026 $0.08; Feb 27, 2026 $0.15; Mar 31, 2026 $0.16; Apr 30, 2026 $0.11; May 29, 2026 $0.07; Jun 30, 2026 $0.11; Jul 31, 2026 $0.08; Aug 31, 2026 $0.11; Sep 30, 2026 $0.08; Oct 30, 2026 $0.09. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Pays Nov 2, 2026$0.09
Sep 30, 2026Oct 2, 2026$0.08
Aug 31, 2026Sep 1, 2026$0.11
Jul 31, 2026Aug 3, 2026$0.08
Jun 30, 2026Jul 1, 2026$0.11
May 29, 2026Jun 1, 2026$0.07
Apr 30, 2026May 1, 2026$0.11
Mar 31, 2026Apr 1, 2026$0.16
Feb 27, 2026Mar 2, 2026$0.15
Jan 30, 2026Feb 2, 2026$0.08
Dec 31, 2025Jan 2, 2026$0.11
Nov 28, 2025Dec 1, 2025$0.16

See all 20 payments⁠

$10,000 in SPUT 1 year ago paid $529 in dividends.⁠

SPUT Risk

Risk pillarB64 out of 100Rank 15 of 52 in S&P 500 Option Income
How much the fund’s monthly returns vary, scaled to a year.
6.8%
Annualised · 19 months to Oct 2026
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.
1.39
vs 3-month T-bills · 19 months to Oct 2026
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.
−10.5%
19 months · trough Apr 2025
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.
0.55
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.

SPUT Cost

Compare SPUT and PEPS

Overpaying vs PEPS, cheapest in S&P 500 Option Income

$13,068

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

  • SPUT 0.79%

    $15,174

  • PEPS 0.10% Cheapest

    $2,106

$10,000
30 years

Cost over time

  • SPUT 0.79%
  • PEPS 0.10%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530SPUT $15,174PEPS $2,106

Year by year

YearSPUTPEPSOverpaying
10$1,405$183$1,222
20$5,331$717$4,614
30$15,174$2,106$13,068

Other funds in S&P 500 Option Income

See others