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Beacon

PSTPInnovator Power Buffer Step-Up Strategy ETF

Grow my money4y track recordRanked #2,089 of 2,960 in this goal

By Innovator ETFs · Launched 2022

Annual Cost

0.89%

#4,486 of 5,562 · expensive

Fund Size

$131M

#2,686 of 5,562 · mid-size

Return (1Y)Goal

+12.1%

Track Record

4 years

#2,633 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$11,234+12.3%

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 5 holdings = 100.1% of fundconcentrated

N/A
98.8%
N/A
4.6%
US BANK MMDA - USBGFS 9
0.1%
N/A
-1.6%
N/A
-1.8%

Asset allocation

Stocks
99.9%
Cash
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
6.6%Low

Year-on-year price swings

Max drawdown
-12.5%Mild

Worst peak-to-trough loss

Sharpe (3Y)
0.87Decent risk-adjusted returns
Sortino (3Y)
1.27Good downside protection

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Strategy
Actively managed ETF providing risk-managed exposure to the Underlying ETF through FLEX Options with one-year expirations. Seeks to participate in returns of the Underlying ETF, subject to an upside limit and downside loss protection (a 'Buffer'). The Sub-Adviser monitors the Options Portfolio and may reset it for a new one-year period to capture gains or protect capital. The Fund does not pursue a defined outcome strategy and results may differ significantly from holding the Options Portfolio for its contract duration.
Inception date
March 7, 2022
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