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Launched

Innovator U.S. Equity Ultra Buffer ETF

USEPCboeInnovatorB

$41.77−0.12 (−0.28%)

As of Nov 2, 2026, 3:57 PM ET

B55/ 100

Rank 2 of 13 in S&P 500 Ultra Buffer 30%

B55/100Rank 2 of 13inS&P 500 Ultra Buffer 30%
Intraday session: down, 78 prints from 41.89 to 41.77. Range 41.77 to 42.12. Use the arrow keys to read each point.42.0042.1010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$243M
1Y total return
+7.5%
Yield · Last 12 months
0.00%
Holdings
4
Avg volume · 30D
46.7K sh
52W range
low $38.06high $42.59
Launched

The ETF.net USEP Grade

Based on 5 of 6 pillars

B

Score 55 out of 100

Category
S&P 500 Ultra Buffer 30%⁠
Rank
2 of 13
Six-pillar profile for USEP. Scores out of 100: Cost 50, Risk 43, Mission not scored, Tradability 72, Holdings 59, Durability 66. Strongest: Tradability (72). Weakest: Risk (43). Based on 5 of 6 pillars.

Score 55 of 100 falls in the B 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.
    C50 out of 100
    Rank 2 of 13

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C43 out of 100
    Rank 9 of 13

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    A72 out of 100
    Rank 3 of 13

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B59 out of 100
    Rank 6 of 9

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    B66 out of 100
    Rank 5 of 13

USEP Holdings

Holdings pillarB59 out of 100Rank 6 of 9 in S&P 500 Ultra Buffer 30%
Asset class
Stocks
Holdings
4
Top-10 weight
102%
Largest holding
VOO97.5%

Sectors

  • Technology40.5%
  • Financials11.1%
  • Communication10.0%
  • Health Care9.3%
  • Consumer Discretionary8.8%
  • Industrials7.6%
  • Consumer Staples4.3%
  • Energy3.4%
  • Utilities1.9%
  • Real Estate1.7%
  • Materials1.6%

Geography

  • United States99.53%
  • Switzerland0.25%
  • China0.09%
  • Mexico0.06%
  • Ireland0.04%
  • United Kingdom0.03%
The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueHeld by ETFs
1VOOVanguard S&P 500 ETF97.48%340,900$237M66
2No dataVoo 08/31/2027 669.65 P4.00%3,479$9.72M1
3No dataUs Bank Mmda - Usbgfs 9 09/01/20370.50%1,224,890$1.22M163
4No dataVoo 08/31/2027 733.06 C0.10%69$231K1

Showing 1–4 of 4 holdings

USEP Performance

Launched Sep 3, 2019

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.
USEP$10,752
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. USEP $10,752. 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 USEP. Periods over one year show the average yearly return.
PeriodUSEP
Year to date+6.5%
1 month−0.3%
3 months+0.4%
1 year+7.5%
3 yearsper year+13.1%
5 yearsper year+8.0%
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 USEP
YearReturn barUSEP
2026 YTD+6.5%
2025+11.7%
2024+12.4%
2023+18.6%
2022−8.0%
2021+5.7%
2020+7.1%

USEP in the news

USEP 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.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2019

One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.16. Use the arrow keys to read each point.2019
Ex-datePay dateAmount per share
Nov 19, 2019Nov 21, 2019$0.16

USEP Risk

Risk pillarC43 out of 100Rank 9 of 13 in S&P 500 Ultra Buffer 30%
How much the fund’s monthly returns vary, scaled to a year.
6.0%
Annualised · 36 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.
1.36
vs 3-month T-bills · 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.
−11.8%
Trough Oct 2022
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.
0.48
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.

USEP Cost

Compare USEP and CTMA

Overpaying vs CTMA, cheapest in S&P 500 Ultra Buffer 30%

$9,025

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

  • USEP 0.79%

    $15,174

  • CTMA 0.30% Cheapest

    $6,149

$10,000
30 years

Cost over time

  • USEP 0.79%
  • CTMA 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530USEP $15,174CTMA $6,149

Year by year

YearUSEPCTMAOverpaying
10$1,405$545$860
20$5,331$2,113$3,218
30$15,174$6,149$9,025

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