TJULInnovator Equity Defined Protection ETF - 2 Yr to July 2027
By Innovator ETFs · Launched 2023
0.79%
#4,047 of 5,562 · expensive
$136M
#2,648 of 5,562 · mid-size
+5.5%
2 years
#3,081 of 5,562 · seasoned
Performance
Total-return NAV · USDTotal-return NAV, USD. Net of fund fees, before tax.
Classification
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 4 holdings = 100.1% of fundconcentrated
Asset allocation
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsYear-on-year price swings
Worst peak-to-trough loss
Needs 3+ years of history
Needs 3+ years of history
Where to buy
Listing
- Exchange
- Cboe BZX
Full fund details
- Strategy
- Invests primarily in FLEX Options referencing the Underlying ETF and may also invest directly in the Underlying ETF. The strategy aims to replicate the Underlying ETF's performance over the Outcome Period, providing a buffer against 100% of losses and capping returns at 13.61%. The Fund's management fee of 0.79% reduces the cap to 12.03%. Designed for investors holding Shares for the entire Outcome Period, the Fund seeks to deliver these Outcomes based on the Underlying ETF's performance.
- Inception date
- July 17, 2023
- Fund family
- Innovator ETFs
Similar ETFs
Closest matches by profileOur take
Structural notes on how this fund behaves. Read our guide on the 6 warning signs.
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