IFLR vs SFLR

IFLRCInnovator International Developed Managed Floor ETF

SFLRCInnovator Equity Managed Floor ETF

In short

IFLR Innovator's managed-floor engine, pointed overseas for the first time: a basket of developed-market stocks wrapped in a laddered put overlay that aims to hold annual losses near 8-12%.

SFLR Most protected-equity funds run on a calendar: show up on reset day or take what's left. SFLR ladders one-year options so the hedge is always rolling, and sells short-dated calls to pay for it, on top of a basket of US large caps.

Stated mandate

IFLR The Fund seeks capital appreciation from international developed equities while limiting potential maximum losses through an actively managed, laddered options overlay.

SFLR The fund seeks risk-managed exposure to U.S. large-cap companies through a hedging strategy. It uses laddered one-year Flex Options and systematic short-dated call selling to pursue equity-market upside while mitigating losses.

Why people hold it

• IFLR The first time Innovator has run its Managed Floor strategy outside US equities, with Parametric handling the options work.globenewswire.cominnovatoretfs.com
• Targets 70-80% participation in developed-market upside while aiming to limit annual losses to roughly 8-12%, before fees and expenses.globenewswire.com
• The options are laddered rather than locked to a single outcome period, so there is no start date to time. The floor rolls forward instead of resetting on a calendar.innovatoretfs.com
• Owns the stocks themselves, roughly 300 of them, sampled against the MSCI EAFE Index rather than stacked on top of other funds.

• SFLR The ladder is the whole idea: staggered one-year FLEX options keep the hedge rolling, so there is no single outcome-period start date to time your entry around.innovatoretfs.com
• You own the shares, not a synthetic stand-in. Roughly 200 US large caps sit underneath, referenced to the Solactive GBS United States 500 Index, with options layered on top.innovatoretfs.com
• Systematic call selling funds the hedge instead of a fixed upfront drag, and the fund makes distributions on a quarterly schedule.innovatoretfs.com
• Live since 2022 and one of the larger funds in the floor-and-protection aisle, which shows up as steady day-to-day tradability. Standing sits in the upper half of that peer group.

Worth knowing

• IFLR 0.89% a year, matching the median for floor funds. That fee buys the overlay and the active management, not the index exposure underneath it.
• Calls get sold to help pay for the puts, which is why participation is partial. A strong overseas rally is only partly yours.globenewswire.com
• Launched in late 2025 and thinly traded so far, so spreads can be wide and there is little live history to judge the floor across a full cycle.

• SFLR Those calls get paid for somewhere: upside in a fast rally is trimmed. This is a smoother ride than the index, not a full share of it.innovatoretfs.com
• 0.89% a year lands at the floor cohort's median, not the front of it. CPRY, CPRJ and CPRO run 0.69%, FLJJ 0.74%.
• The floor is an objective pursued with options, not a guarantee, and the record since the 2022 launch is short by full-market-cycle standards.

Full IFLR profile⁠

Full SFLR profile⁠