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Beacon

OCTJInnovator Premium Income 30 Barrier ETF - October

Diversifier2y track recordRanked #183 of 240 in this goal

Seeks to provide investors with high income through a Defined Distribution Rate of 6.11% and protection against losses experienced by the U.S. Equity Index at or below a 30% Barrier.

By Innovator ETFs · Launched 2023

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$19M

#4,376 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
$10,586+5.9%

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

Classification

How Beacon categorizes this fund

Asset class

Alternative

Region

North america

Strategy

Option income

Index tracked

S&P 500 Price Return Index

What it actually holds

By weight

Concentration

Top 7 holdings = 100.1% of fundconcentrated

TREASURY BILL
98.9%
N/A
17.5%
TREASURY BILL
1.3%
TREASURY BILL
1.3%
US BANK MMDA - USBGFS 9
0.1%
N/A
-0.6%
N/A
-18.4%

Asset allocation

Bonds
99.1%
Cash
1.3%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
2.6%Low

Year-on-year price swings

Max drawdown
-5.4%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 high income through a Defined Distribution Rate of 6.11% and protection against losses experienced by the U.S. Equity Index at or below a 30% Barrier.
Strategy
Actively managed ETF investing in U.S. Treasury bills and FLEX Options referencing the S&P 500 Price Return Index. Seeks to provide high income through Defined Distributions and a barrier against losses up to 30% of the U.S. Equity Index. Defined Distributions are based on income from U.S. Treasuries and premiums from FLEX Options, with a Defined Distribution Rate of 6.11% for the current Outcome Period. Payments are made quarterly based on the Fund's NAV at the start of the Outcome Period.
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.

Covered call
Warning

Covered call ETF — yield ≠ total return

The high distribution yield is not free income — it comes from selling upside via call options. Research finds these strategies systematically underperform their underlying index over full cycles, typically by 100–300 basis points per year depending on the option-overlay design. The monthly distributions make the shortfall hard to see in return summaries.

Source: Israelov & Ndong, 'A Devil's Bargain: When Generating Income Undermines Investment Returns' (NDVR, 2023)

Why we flagged this: strategy=option_income + option_income_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