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XUSP

GradeCChicago Board Options Exchange

Innovator Uncapped Accelerated U.S. Equity ETF

Accelerated Upside · Innovator · Inception 2022-08-11

$54.09−0.56 (−1.03%)

As of Sep 23, 2026, 2:20 PM EDT

History starts Aug 11, 2022.
Intraday session: down, 48 prints from 54.66 to 54.09. Range 53.95 to 54.52. Use the arrow keys to read each point.$54.00$54.20$54.4010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$52M
1Y return
+17.3%
Yield · Last 12 months
—
Holdings
13
Volume · 30D
0M sh
NAV per share
$53.44
52W range
low $42.63high $55.40

The ETF.net XUSP Grade

C

48/ 100

Rank 6 of 12 in S&P 500 Accelerated⁠

Confidence Low

Six-pillar profile for XUSP. Scores out of 100: Cost 55, Risk 17, Mission not scored, Tradability 61, Holdings not scored, Durability 72. Strongest: Durability (72). Weakest: Risk (17). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 48 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.
    BScore 55
    Category rank8/12 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    FScore 17
    Category rank11/11 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 61
    Category rank5/12 · top 42%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 72
    Category rank2/12 · top 17%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on XUSP

ETF.net Research

CMost accelerated funds buy extra upside by selling you a cap. XUSP skips the cap: each option package sits out SPY's first 5% of gains, then aims to amplify what comes after, on a rolling quarterly ladder.

Stated mandate

XUSP seeks potential to outperform SPY’s price return once its performance thresholds are exceeded. It pursues uncapped enhanced upside through four one-year FLEX option packages with laddered quarterly expirations; each package does not participate in SPY’s first 5% of gains.

Why people hold it

  1. 01Uncapped by design. Where most enhanced-upside strategies bolt a ceiling onto the payoff, this one aims to keep amplifying SPY's advance above the threshold.globenewswire.com
  2. 02Four one-year FLEX option packages expire on a quarterly ladder, so no single start date sets the terms for your whole position the way a dated outcome fund does.innovatoretfs.com
  3. 03At 0.79%, the fee sits level with the median for accelerated SPY strategies, including Innovator siblings XTAP and XDSQ. The uncapped twist doesn't cost more.

Worth knowing

  1. 01The 5% giveback is the price of admission. Each package skips SPY's first 5% of gains, which stings most in flat or single-digit years.innovatoretfs.com
  2. 02The engineering is all on the upside. There's no buffer, and the reference point is SPY's price return, so dividends sit outside the payoff.innovatoretfs.com
  3. 03Small and thinly traded next to plain index funds, so limit orders and avoiding the opening and closing minutes are worth the habit.

XUSP Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
13
Top-10 weight
114%
Largest holding
SPY 09/30/2026 6.69 C25.5%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPY 09/30/2026 6.69 C25.47%354$27M1
002—SPY 12/31/2026 6.85 C25.11%350$27M1
003—SPY 06/30/2027 7.5 C24.01%336$26M1
004—SPY 03/31/2027 6.53 C22.93%320$24M1
005—SPY 03/31/2027 682.86 C5.19%486$6M1
006—SPY 09/30/2026 699.49 C4.14%590$4M1
007—SPY 12/31/2026 716.02 C4.04%598$4M1
008—SPY 06/30/2027 784.11 C2.57%544$3M1
009—US BANK MMDA - USBGFS 9 09/01/20370.12%132,454$132K161
010—Cash & Other0.06%63,529$64K674

Showing 1–10 of 10 holdings

XUSP Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

XUSP$11,731
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. XUSP $11,731. SPY $11,723. Use the arrow keys to read each point.$8,965$10,523$12,080Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

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.

Trailing total return for XUSP. Periods over one year show the average yearly return.
PeriodXUSP
Year to date+15.0%
1 month+1.3%
3 months+4.1%
1 year+17.3%
3 years+26.4%per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, 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 XUSP
YearReturn barXUSP
2026 YTD+15.0%
2025+18.3%
2024+30.6%
2023+26.5%
2022−9.2%

Since listing, Aug 11, 2022

XUSP in the news

ETF.net Research hasn’t filed on XUSP yet — coverage lands here as it’s written.

XUSP Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

XUSP Risk

How much the fund’s monthly returns vary, scaled to a year.
17.7%
Annualised · 36 months to Aug 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.
1.02
vs 3-month T-bills · to Aug 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.
−22.6%
49 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.
1.36
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.

XUSP Cost

Expense ratio0.79%
  • The middle half of S&P 500 Accelerated funds
  • Median 0.79%

3 of the 12 S&P 500 Accelerated funds charge less.

XUSP costs $79.00 a year on $10,000. The median S&P 500 Accelerated fund costs $79.00.