Innovator U.S. Equity 10 Buffer ETF - Quarterly
$34.820.00 (0.00%)
- 0.69%
- $824M
- +10.2%
- 0.1M sh
- $34.79
- low $31.63high $34.85
The ETF.net ZALT Grade
A
Score 77 out of 100
- 1 of 77
Score 77 of 100 falls in the A 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.A82 out of 100Rank 14 of 77Mission
Whether the fund did what it promised, tested against its stated mandate.A80 out of 100Rank 7 of 7Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.A81 out of 100Rank 2 of 76Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B62 out of 100Rank 28 of 77Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A90 out of 100Rank 3 of 44Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B62 out of 100Rank 26 of 77
Our read on ZALT
AThe defined-outcome trade on a three-month clock: ZALT follows SPY up to a cap and buffers the first 10% of a decline, then resets both every quarter. Four fresh caps a year, at a fee under the shallow-buffer median.
The fund seeks to follow SPY's return up to a predetermined cap while providing a 10% downside buffer over each three-month outcome period. It may be held indefinitely, with the defined outcomes resetting at the end of each period.
Why people hold it
- Resets on a quarterly clock: a new cap is set the first day of each calendar quarter and the 10% buffer starts over. Can be held indefinitely, no rolling into a new ticker.sec.govcboe.com
- At 0.69% it undercuts the going rate for 10% buffer funds on the S&P 500, where peers like SIXZ, JULT and BJUN charge 0.74% to 0.79%.
- The cushion is built from FLEX options on SPY itself, so the thing you are hedged against is the same fund most investors already watch.sec.gov
- Sits among the stronger implementations in its shallow-buffer peer group on cost and ease of trading.
Worth knowing
- Three months of upside buys a lower ceiling. Each quarter's cap is priced off three-month options, so it lands well below what a 12-month buffer fund can offer.sec.gov
- Buy mid-quarter and you inherit whatever cap and buffer are left, not the full 10%. The prospectus says so plainly.sec.gov
- The fee comes out of the cushion: with the 0.69% fee counted, the prospectus puts the net buffer at 9.82% per period. No distributions so far, so return shows up in price.sec.gov
ZALT Holdings
- Stocks
- 504
- 39%
- NVDA
Sectors
- Technology40.9%
- Financials11.2%
- Communication9.7%
- Health Care9.1%
- Consumer Discretionary8.8%
- Industrials7.4%
- Consumer Staples4.3%
- Energy3.4%
- Utilities1.9%
- Real Estate1.6%
- Materials1.5%
Geography
- United States97.67%
- Ireland1.19%
- United Kingdom0.39%
- Switzerland0.29%
- Singapore0.27%
- Netherlands0.11%
- Bermuda0.07%
- Canada0.01%
ZALT 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.
ZALT$11,022
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 | ZALT |
|---|---|
| Year to date | +6.9% |
| 1 month | +0.8% |
| 3 months | +2.2% |
| 1 year | +10.2% |
| 3 years | +10.6% |
| 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 | ZALT |
|---|---|---|
| 2026 YTD | +6.9% | |
| 2025 | +9.4% | |
| 2024 | +11.9% | |
| 2023 | +3.9% |
ZALT in the news
Filings Digest
AllianzIM launches OCTI and resets October buffer terms
ZALT Dividends
No distributions in the last 12 months.
ZALT Risk
- 3.9%
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.
- 1.58
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.
- −8.2%
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.
- 0.29
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
ZALT Cost
0.69%
ZALT0.69%
- The middle half of S&P 500 Buffer 9-12% funds
- Median 0.79%
13 of the 77 S&P 500 Buffer 9-12% funds charge less.
Other funds in S&P 500 Buffer 9-12%
- BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFExpense ratio 0.74%1 year return +14.0%
- BSIXDAllianzIM U.S. Equity 6 Month Buffer10 Jun/Dec ETFExpense ratio 0.74%1 year return +12.6%
- BAUGPPGIM Rock ETF Trust - PGIM S&P 500 Buffer 12 ETF - AugustExpense ratio 0.50%1 year return +14.4%
- BSEPTAllianzIM U.S. Equity Buffer10 Sep ETFExpense ratio 0.74%1 year return +14.4%
- BBUFMAB Active ETFs, Inc. - AB Moderate Buffer ETFExpense ratio 0.69%1 year return +8.9%