XUSPInnovator Uncapped Accelerated U.S. Equity ETF
The fund is an actively managed ETF that invests in option contracts designed to provide returns, at the expiration of the fund’s option contracts, that are at a rate that is greater than the price return increases, if any, of the SPDR® S&P 500® ETF Trust following the point in which the Underlying ETF exceeds performance threshold levels established by the fund. It is non-diversified.
Innovator ETFs · Since 2022 (3 years)
0.79%
#3848 out of 5,332 ETFs
$39M
#3578 out of 5,332 ETFs
0.00%
3 years
#2837 out of 5,332 ETFs
Performance
1 Year
+36.0%
3 Years
+25.2%
5 Years
N/A
What's inside
Asset allocation
Risk profile
16.2%
Moderate
-22.6%
Worst peak-to-trough loss
1.11
Excellent risk-adjusted returns
1.63
Good downside protection
Similar ETFs
Our 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
Data updated on 2026-05-05