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Beacon

TOCTInnovator Equity Defined Protection ETF - 2 Yr to October 2027

Grow my moneyNewRanked #2,635 of 2,960 in this goal

By Innovator ETFs · Launched 2025

Annual Cost

0.79%

#4,047 of 5,562 · expensive

Fund Size

$20M

#4,366 of 5,562 · small

Return (1Y)Goal

N/A

Track Record

9 months

#4,813 of 5,562 · young

Performance

Total-return NAV · USD
Growth of $10,000
$10,225+2.3%

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 4 holdings = 100.1% of fundconcentrated

N/A
100.4%
N/A
6.4%
US BANK MMDA - USBGFS 9
0.5%
N/A
-7.3%

Asset allocation

Stocks
99.9%
Cash
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
N/A
Max drawdown
-2.0%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

Strategy
Invests primarily in FLEX Options referencing the Underlying ETF and may invest directly in the Underlying ETF. The strategy aims to replicate the Underlying ETF's performance while providing a buffer against 100% of losses and an upside cap of 12.78% over the Outcome Period from October 1, 2025 to September 30, 2027. The Fund's management fee of 0.79% reduces the cap to 11.20%.
Inception date
September 30, 2025
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