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Beacon

TFJLInnovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly

Diversifier5y track recordRanked #143 of 240 in this goal

Seeks to provide returns that match the Underlying ETF's return while providing a maximum loss of 5% of Underlying ETF losses over the Outcome Period.

By Innovator ETFs · Launched 2020

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$7M

#4,898 of 5,562 · small

Return (1Y)Goal

-1.5%

Track Record

5 years

#2,169 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$9,822-1.8%

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

ICE US Treasury 20+ Year Bond Index

What it actually holds

By weight

Concentration

Top 3 holdings = 100.1% of fundconcentrated

N/A
99.3%
N/A
0.5%
US BANK MMDA - USBGFS 9
0.3%

Asset allocation

Bonds
99.0%
Cash
1.0%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
8.3%Low

Year-on-year price swings

Max drawdown
-25.4%Moderate

Worst peak-to-trough loss

Sharpe (3Y)
-0.48Below average
Sortino (3Y)
-0.68Moderate downside risk

Where to buy

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide returns that match the Underlying ETF's return while providing a maximum loss of 5% of Underlying ETF losses over the Outcome Period.
Strategy
Invests primarily in FLEX Options referencing the iShares 20+ Year Treasury Bond ETF and may invest directly in the Underlying ETF. The Fund aims to replicate the Underlying ETF's performance over the Outcome Period, providing a maximum loss of 5% while allowing for full participation in upside returns. The Fund's management fee of 0.79% will reduce returns by approximately 0.20% during the Outcome Period. The strategy is designed to produce specific Outcomes based on the Underlying ETF's performance.
Inception date
August 17, 2020
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