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Beacon

LOCTInnovator Premium Income 15 Buffer ETF - October

Grow my money2y track recordRanked #2,613 of 2,960 in this goal

Seeks to provide investors with a high level of income through a Defined Distribution Rate of 5.97% while providing a buffer against the first 15% of SPY losses.

By Innovator ETFs · Launched 2023

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$14M

#4,599 of 5,562 · small

Return (1Y)Goal

+5.9%

Track Record

2 years

#3,210 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,581+5.8%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Structured outcome

Index tracked

S&P 500 Index

What it actually holds

By weight

Concentration

Top 10 holdings = 100.5% of fundconcentrated

TREASURY BILL
98.5%
US BANK MMDA - USBGFS 9
0.5%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
TREASURY BILL
0.4%
N/A
-1.5%

Asset allocation

Bonds
98.7%
Cash
1.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.2%Low

Year-on-year price swings

Max drawdown
-4.7%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide investors with a high level of income through a Defined Distribution Rate of 5.97% while providing a buffer against the first 15% of SPY losses.
Strategy
Actively managed ETF investing in U.S. Treasury bills and FLEX Options referencing SPY. Seeks to provide a Defined Distribution Rate of 5.97% over the Outcome Period, with monthly payments based on income from U.S. Treasuries and premiums from FLEX Options. Provides a buffer against the first 15% of Underlying ETF losses during the Outcome Period, with shareholders bearing losses exceeding 15% on a one-to-one basis.
Inception date
September 29, 2023
Fund family
Innovator ETFs

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Buffer
Warning

Buffer ETF — downside protection at a cost

Defined-outcome funds cap upside (typically 8–20%) in exchange for partial downside protection (9–30%), priced via options. Fees are materially higher than the underlying index (often 0.70%+ vs 0.03–0.10%). For most pre-retirees, a simple stock/bond mix achieves similar downside behaviour at a fraction of the cost.

Source: Morningstar, 'Defined-Outcome ETFs: Useful or Uneconomic?' (2023)

Why we flagged this: strategy=structured_outcome + structured_outcome_strategy

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 2026-06-19