Innovator Equity Defined Protection ETF
$30.60−0.07 (−0.21%)
- Expense ratio
- 0.79%
- Fund size
- $116M
- 1Y return
- +4.4%
- Yield · Last 12 months
- —
- Holdings
- 5
- Volume · 30D
- 0M sh
- NAV per share
- $30.62
- 52W range
The ETF.net TJUL Grade
Score 44 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 21Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.Not scoredRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 46Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 78Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.Not scoredDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.AScore 87Category rank
Our read on TJUL
CTJUL is the S&P 500 with a full airbag: a 100% downside buffer across a two-year outcome period, paid for with a hard ceiling on the upside. Total protection, not the usual thin slice, is the entire pitch.
The Fund seeks to track the return of SPDR S&P 500 ETF Trust over the outcome period, subject to a maximum return cap and a 100% downside buffer before fees and expenses.
Why people hold it
- The buffer goes all the way: the fund aims to absorb 100% of a decline in its S&P 500 reference over the outcome period, before fees and expenses.
- Upside stays equity shaped. It tracks the SPDR S&P 500 ETF Trust (SPY) over the period up to a cap, so gains follow stocks rather than a fixed rate.
- Long runway, clear terms: outcome periods run two years, with a new cap set at each reset, so the trade-off is spelled out in the fund's documents before the clock starts.
- A registered 1940 Act fund holding an options-based defined outcome strategy, so the protection arrives inside a standard ETF wrapper rather than a note or annuity.
Worth knowing
- Costs 0.79% a year, above the 0.69% charged by the Calamos protection series (CPSJ, CPSM), and the 100% buffer is measured before fees and expenses.
- The cap is the price of the floor: strong S&P 500 stretches get trimmed at the ceiling, and buying mid-period leaves you with different terms than the stated cap and buffer.
- Smaller and thinly traded next to plain index ETFs, so bid-ask spreads can widen in fast markets.
TJUL Holdings
- Stocks
- 5
- 117%
- 4SPY US 06/30/27 C11.12 FLX
Sectors
TJUL Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | TJUL |
|---|---|
| Year to date | +3.6% |
| 1 month | +0.4% |
| 3 months | +1.5% |
| 1 year | +4.4% |
| 3 years | +7.8% |
| 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 | TJUL |
|---|---|---|
| 2026 YTD | +3.6% | |
| 2025 | +6.6% | |
| 2024 | +8.2% | |
| 2023 | +3.1% |
TJUL in the news
ETF.net Research hasn’t filed on TJUL yet — coverage lands here as it’s written.
TJUL Dividends
No distributions in the last 12 months.
TJUL Risk
- 3.5%
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.
- 0.71
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.
- −4.6%
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.
- 0.24
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
TJUL Cost
- The middle half of S&P 500 Full Protection funds
- Median 0.69%
19 of the 26 S&P 500 Full Protection funds charge less.