- CUSIP
- 45784N619
- Issuer
- Innovator
- Inception Date
- May 12, 2025
- Category
- Defined Outcome
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $142M
Share Price Chart
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Performance
BFRZ Performance Chart
Innovator Equity Managed 100 Buffer ETF (BFRZ) is down 0.1% since the beginning of the year. BFRZ is currently trading at $27 per share.
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Returns By Period
Innovator Equity Managed 100 Buffer ETF (BFRZ) has returned -0.07% so far this year and 5.50% over the past 12 months.
Innovator Equity Managed 100 Buffer ETF
- 1D
- -0.72%
- 1M
- -0.80%
- YTD
- -0.07%
- 6M
- -0.32%
- 1Y
- 5.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
BFRZ Monthly Returns History
Based on dividend-adjusted daily data since May 13, 2025, BFRZ's average daily return is +0.03%, while the average monthly return is +0.50%. At this rate, an investment would double in approximately 11.6 years.
Historically, 71% of months were positive and 29% were negative. The best month was May 2026 with a return of +3.1%, while the worst month was Mar 2026 at -1.8%. The longest winning streak lasted 6 consecutive months, and the longest losing streak was 2 months.
On a daily basis, BFRZ closed higher 58% of trading days. The best single day was Feb 6, 2026 with a return of +1.2%, while the worst single day was Jun 5, 2026 at -1.7%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.20% | -0.15% | -1.77% | 0.27% | 3.10% | -1.65% | -0.07% | ||||||
| 2025 | 0.48% | 0.81% | 1.17% | 1.27% | 2.09% | 1.66% | -0.52% | 0.07% | 7.22% |
Benchmark Metrics
Innovator Equity Managed 100 Buffer ETF has an annualized alpha of -0.96%, beta of 0.34, and R2 of 0.63 versus S&P 500 Index. Calculated based on daily prices since May 13, 2025.
- This ETF participated in 42.38% of S&P 500 Index downside but only 28.30% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.34 indicates this ETF moves significantly less than S&P 500 Index - a genuinely defensive profile with reduced participation in both market rallies and downturns.
- Alpha
- -0.96%
- Beta
- 0.34
- R²
- 0.63
- Upside Capture
- 28.30%
- Downside Capture
- 42.38%
Expense Ratio
BFRZ has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BFRZ ranks 31 for risk / return — below 31% of ETFs on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Innovator Equity Managed 100 Buffer ETF (BFRZ) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| BFRZ | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.32 | -0.13 |
| Calmar ratioReturn relative to maximum drawdown | 1.77 | 2.46 | -0.69 |
| Martin ratioReturn relative to average drawdown | 4.75 | 10.92 | -6.16 |
Dividends
Dividend History
Innovator Equity Managed 100 Buffer ETF provided a 0.26% dividend yield over the last twelve months, with an annual payout of $0.07 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.07 | $0.05 |
Dividend yield | 0.26% | 0.20% |
Monthly Dividends
The table displays the monthly dividend distributions for Innovator Equity Managed 100 Buffer ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.00 | $0.02 | ||||||
| 2025 | $0.01 | $0.00 | $0.00 | $0.02 | $0.00 | $0.00 | $0.02 | $0.05 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Innovator Equity Managed 100 Buffer ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Innovator Equity Managed 100 Buffer ETF was 3.12%, occurring on Mar 30, 2026. Recovery took 39 trading sessions.
The current Innovator Equity Managed 100 Buffer ETF drawdown is 1.96%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -3.12%Mar 2026 | 1mo 18d | 1mo 27d | 3mo 15dFeb 2026 - May 2026 |
2025 pullback2025 | -2.67%Nov 2025 | 16d | 21d | 1mo 7dNov 2025 - Dec 2025 |
2026 pullback2026 | -2.58%Jun 2026 | 7d | — | 21d 4hJun 2026 - now |
2025 pullback2025 | -1.93%Dec 2025 | 5d | 23d | 28dDec 2025 - Jan 2026 |
2025 pullback2025 | -1.39%Oct 2025 | 1d | 13d | 14dOct 2025 - Oct 2025 |
Drawdown Indicators
| BFRZ | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.12% | -56.78% | +53.66% |
Max Drawdown (1Y)Largest decline over 1 year | -3.12% | -9.10% | +5.98% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.96% | -3.21% | +1.25% |
Average DrawdownAverage peak-to-trough decline | -0.70% | -10.71% | +10.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 2.04% | -0.88% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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