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Beacon

UOCTInnovator U.S. Equity Ultra Buffer ETF - October

Grow my money7y track recordRanked #1,524 of 2,969 in this goal

Seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 11.03% while providing a buffer against Underlying ETF losses of between 5% and 35%.

By Innovator ETFs · Launched 2018

Annual Cost

0.79%

#4,056 of 5,573 · expensive

Fund Size

$184M

#2,369 of 5,573 · mid-size

Return (1Y)Goal

+12.9%

Track Record

7 years

#1,819 of 5,573 · established

Performance

Total-return NAV · USD
Growth of $10,000
$11,337+13.4%

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

Structured outcome

Index tracked

S&P 500 Price Return Index

What it actually holds

By weight

Concentration

Top 5 holdings = 100.1% of fundconcentrated

N/A
100.3%
N/A
2.7%
US BANK MMDA - USBGFS 9
0.3%
N/A
-0.5%
N/A
-2.8%

Asset allocation

Stocks
99.9%
Cash
0.1%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
5.7%Low

Year-on-year price swings

Max drawdown
-13.7%Mild

Worst peak-to-trough loss

Sharpe (3Y)
1.14Strong risk-adjusted returns
Sortino (3Y)
1.66Good downside protection

Listing

Exchange
Cboe BZX

Full fund details

Objective
Seeks to provide investors with returns that match the return of the Underlying ETF, up to the upside cap of 11.03% while providing a buffer against Underlying ETF losses of between 5% and 35%.
Strategy
Invests primarily in FLEX Options referencing the Underlying ETF and may also invest directly in the Underlying ETF. The Fund seeks to replicate the performance of the Underlying ETF over the Outcome Period, providing a buffer against losses of 5% to 35%. The upside cap is set at 11.03% before fees, with a net cap of 10.24% after management fees. Shareholders bear the first 5% of losses and all losses exceeding 35% on a one-to-one basis during the Outcome Period.
Inception date
September 28, 2018
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 2026-06-20