BSTPInnovator Buffer Step-Up Strategy ETF
Seeks investment exposure to the return of an ETF that tracks large capitalization U.S. equity securities with downside protection.
By Innovator ETFs · Launched 2022
0.89%
#4,672 of 5,861 · expensive
$60M
#3,470 of 5,861 · mid-size
+12.5%
4 years
#2,571 of 5,861 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 5 holdings = 100.1% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks investment exposure to the return of an ETF that tracks large capitalization U.S. equity securities with downside protection.
- Strategy
- Actively manages an Options Portfolio using FLEX Options on the Underlying ETF to provide investment exposure with a step-up strategy for potential upside gains and downside protection. The Fund targets large capitalization U.S. equity securities and aims to reset its options exposure periodically to manage risk and capture gains.
- Inception date
- March 7, 2022
- Fund family
- Innovator ETFs
Similar funds
Same asset class, closest by strategy & exposureOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
You can build this cheaper yourself
Defined-outcome funds cap your gains (often 8% to 20%) in exchange for cushioning losses by 9% to 30%, priced with options. The fee runs about 0.70% or more, against 0.03% to 0.10% for a plain index fund. For most investors, a simple stock-and-bond mix gives similar protection for far less.
Sources: Morningstar, 'Buffer Funds Are on the Rise, but They May Not Make Sense for Most Investors' (2025)
Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More
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Data updated on 2026-08-04