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Beacon

OCTJInnovator Premium Income 30 Barrier ETF - October

Diversifier2y track recordRanked #198 of 266 in this goal

Seeks to provide high income with a 6.11% Defined Distribution Rate and a 30% Barrier against U.S. Equity Index losses.

By Innovator ETFs · Launched 2023

Annual Cost

0.79%

#4,215 of 5,861 · expensive

Fund Size

$19M

#4,516 of 5,861 · small

Return (1Y)Goal

+5.5%

Track Record

2 years

#3,130 of 5,861 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,570+5.7%

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

What's inside

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 6 holdings = 100.1% of fundconcentrated

TREASURY BILL
99.4%
N/A
8.4%
TREASURY BILL
1.3%
US BANK MMDA - USBGFS 9
0.1%
N/A
-0.3%
N/A
-8.8%

Asset allocation

Bonds
100.3%

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

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide high income with a 6.11% Defined Distribution Rate and a 30% Barrier against U.S. Equity Index losses.
Strategy
Invests primarily in U.S. Treasuries and uses FLEX Options to provide a Defined Distribution Rate of 6.11%. The Fund is designed to protect against losses up to 30% of the U.S. Equity Index, with one-to-one exposure to losses exceeding that threshold.
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

The big yield isn't extra money

The headline distribution comes from selling call options, which caps the fund's upside. Across a full market cycle that trade costs more than it brings in — often 1 to 3 percentage points a year against just holding the index. Monthly payouts make the gap easy to miss on a return summary.

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

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