- Issuer
- Innovator
- Inception Date
- Oct 31, 2019
- Region
- North America (U.S.)
- Category
- Defined Outcome
- Leveraged
- 1x (No leverage)
- Index Tracked
- S&P 500 Price Return Index
- Distribution Policy
- Accumulating
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
- Assets Under Management
- $207M
Highlights
- Avg. Volume (1M)
- 9K
- Avg. Volume Value (1M)
- $442.48K
Share Price Chart
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Performance
BNOV Performance Chart
Innovator U.S. Equity Buffer ETF - November (BNOV) is up 8.0% since the beginning of the year. BNOV is currently trading at $48 per share. Investors who bought $1,000 worth of BNOV shares 5 years ago would now be looking at an investment worth $1,511.
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Returns By Period
Innovator U.S. Equity Buffer ETF - November (BNOV) has returned 8.04% so far this year and 15.79% over the past 12 months.
Innovator U.S. Equity Buffer ETF - November
- 1D
- 0.78%
- 1M
- 0.65%
- 6M
- 7.01%
- YTD
- 8.04%
- 1Y
- 15.79%
- 3Y*
- 11.26%
- 5Y*
- 8.60%
- 10Y*
- —
- ALL TIME*
- 9.78%
Benchmark (S&P 500 Index)
- 1D
- 0.70%
- 1M
- 0.09%
- 6M
- 7.94%
- YTD
- 9.41%
- 1Y
- 20.07%
- 3Y*
- 17.84%
- 5Y*
- 11.25%
- 10Y*
- 13.26%
- ALL TIME*
- 8.09%
BNOV Monthly Returns History
Based on dividend-adjusted daily data since Nov 1, 2019, BNOV's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, an investment would double in approximately 7.0 years.
Historically, 69% of months were positive and 31% were negative. The best month was Apr 2020 with a return of +8.2%, while the worst month was Sep 2022 at -7.5%. The longest winning streak lasted 9 consecutive months, and the longest losing streak was 3 months.
On a daily basis, BNOV closed higher 56% of trading days. The best single day was Apr 9, 2025 with a return of +7.1%, while the worst single day was Mar 16, 2020 at -8.2%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.97% | -0.41% | -3.77% | 7.92% | 3.28% | -0.30% | 0.48% | 8.04% | |||||
| 2025 | 1.93% | -0.82% | -3.80% | -0.34% | 4.56% | 3.66% | 1.60% | 1.62% | 2.12% | 1.51% | 0.35% | 0.35% | 13.23% |
| 2024 | 1.09% | 2.22% | 1.14% | -0.81% | 2.24% | 1.04% | 0.53% | 0.86% | 0.59% | 0.57% | 3.85% | -1.38% | 12.49% |
| 2023 | 5.12% | -1.84% | 2.87% | 1.15% | 0.40% | 5.84% | 2.73% | -1.40% | -4.89% | -2.25% | 6.33% | 2.63% | 17.24% |
| 2022 | -3.31% | -2.05% | 2.95% | -6.37% | 0.76% | -5.41% | 6.72% | -1.93% | -7.51% | 7.35% | 4.22% | -4.10% | -9.63% |
| 2021 | -0.96% | 1.74% | 3.01% | 1.14% | 0.78% | 0.75% | 0.14% | 0.83% | 0.02% | 0.55% | -0.98% | 3.19% | 10.61% |
Benchmark Metrics
Innovator U.S. Equity Buffer ETF - November has an annualized alpha of 0.08%, beta of 0.66, and R2 of 0.92 versus S&P 500 Index. Calculated based on daily prices since November 01, 2019.
- This ETF participated in 66.40% of S&P 500 Index downside but only 59.06% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.66 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
- 0.08%
- Beta
- 0.66
- R²
- 0.92
- Upside Capture
- 59.06%
- Downside Capture
- 66.40%
Expense Ratio
BNOV has an expense ratio of 0.79%, placing it in the medium range.
Return for Risk
Risk / Return Rank
BNOV ranks 71 for risk / return — above 71% of ETFs peers on PortfoliosLab. Its historical combined result is above most peers.
Risk / Return Metrics
The table below present risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - November (BNOV) 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.
| BNOV | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.34 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.25 | +0.05 |
| Calmar ratioReturn relative to maximum drawdown | 2.23 | 2.00 | +0.23 |
| Martin ratioReturn relative to average drawdown | 10.01 | 8.49 | +1.51 |
Dividends
Dividend History
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 U.S. Equity Buffer ETF - November. 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 U.S. Equity Buffer ETF - November was 24.66%, occurring on Mar 23, 2020. Recovery took 94 trading sessions.
The current Innovator U.S. Equity Buffer ETF - November drawdown is 0.43%.
Drawdown | Fall | Recovery | Underwater | Related event |
|---|---|---|---|---|
-24.66%Mar 2020 | 1mo 2d | 4mo 15d | 5mo 17dFeb 2020 - Aug 2020 | COVID crash2020 |
-16.27%Oct 2022 | 9mo 10d | 8mo 3d | 1y 5moJan 2022 - Jun 2023 | Bear market2022 |
-13.70%Apr 2025 | 1mo 17d | 2mo 17d | 4mo 4dFeb 2025 - Jun 2025 | 2025 selloff2025 |
-10.13%Oct 2023 | 2mo 28d | 2mo 1d | 4mo 29dJul 2023 - Dec 2023 | — |
-6.57%Mar 2026 | 1mo 25d | 15d | 2mo 10dFeb 2026 - Apr 2026 | — |
Drawdown Indicators
| BNOV | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.66% | -56.78% | +32.12% |
Max Drawdown (1Y)Largest decline over 1 year | -6.57% | -9.10% | +2.53% |
Max Drawdown (3Y)Largest decline over 3 years | -13.70% | -18.90% | +5.20% |
Max Drawdown (5Y)Largest decline over 5 years | -16.27% | -25.43% | +9.16% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.43% | -1.58% | +1.15% |
Average DrawdownAverage peak-to-trough decline | -2.88% | -10.70% | +7.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.46% | 2.14% | -0.68% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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