Innovator U.S. Equity Buffer ETF - September (BSEP) Alternatives

Innovator U.S. Equity Buffer ETF - September (BSEP) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BSEP. Use the tables to find lower-cost options, better risk-adjusted returns, or funds that fit a different role in your portfolio.

Cheapest Alternatives to BSEP

BSEP charges 0.79% annually. Among ETFs in the Defined Outcome category, these options have the lowest expense ratios among BSEP alternatives.

Symbol	Name	Expense Ratio	Inception
FBUF	Fidelity Dynamic Buffered Equity ETF	0.48%	Apr 9, 2024	BSEP vs FBUF
SMAX	iShares Large Cap Max Buffer Sep ETF	0.50%	Sep 30, 2024	BSEP vs SMAX
DMAX	iShares Large Cap Max Buffer December ETF	0.50%	Dec 31, 2024	BSEP vs DMAX
MMAX	iShares Large Cap Max Buffer Mar ETF	0.50%	Mar 31, 2025	BSEP vs MMAX
PBFR	PGIM Laddered S&P 500 Buffer 20 ETF	0.50%	Jun 11, 2024	BSEP vs PBFR

Best Risk-Adjusted Alternatives to BSEP

Among ETFs in the Defined Outcome category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.

Symbol	Name	Risk / Return Rank	Inception
ZDEK	Innovator Equity Defined Protection ETF - 1 Yr Dec...	97	Dec 1, 2024	BSEP vs ZDEK
ZFEB	Innovator Equity Defined Protection ETF - 1 Yr Feb...	97	Feb 3, 2025	BSEP vs ZFEB
DMAX	iShares Large Cap Max Buffer December ETF	96	Dec 31, 2024	BSEP vs DMAX
ZMAR	Innovator Equity Defined Protection ETF - 1 Yr Mar...	96	Mar 3, 2025	BSEP vs ZMAR
ZJAN	Innovator Equity Defined Protection ETF - 1 Yr Jan...	95	Dec 31, 2024	BSEP vs ZJAN

Top Performing BSEP Alternatives (YTD)

BSEP alternatives from the Defined Outcome category, sorted by year-to-date return.

Symbol	Name	YTD Return	Inception
KAPR	Innovator Russell 2000 Power Buffer ETF - April	3.19%	Mar 31, 2020	BSEP vs KAPR
IAPR	Innovator International Developed Power Buffer ETF...	2.69%	Mar 31, 2021	BSEP vs IAPR
FMAR	FT Vest U.S. Equity Buffer ETF - March	2.16%	Mar 19, 2021	BSEP vs FMAR
BAPR	Innovator U.S. Equity Buffer ETF - April	2.08%	Mar 29, 2019	BSEP vs BAPR
PSMR	Pacer Swan SOS Moderate (April) ETF	1.94%	Mar 31, 2021	BSEP vs PSMR

Lowest Volatility Alternatives to BSEP

BSEP alternatives from the Defined Outcome category, sorted by annualized volatility over the past year.

Symbol	Name	Volatility 1Y	Inception
ZMAY	Innovator Equity Defined Protection ETF - 1 Yr May	1.51%	May 1, 2025	BSEP vs ZMAY
ZJUN	Innovator Equity Defined Protection ETF - 1 Yr Jun...	1.91%	May 30, 2025	BSEP vs ZJUN
AIOO	AllianzIM U.S. Equity Buffer100 Protection ETF	1.99%	Jun 30, 2025	BSEP vs AIOO
MMAX	iShares Large Cap Max Buffer Mar ETF	2.61%	Mar 31, 2025	BSEP vs MMAX
ZAPR	Innovator Equity Defined Protection ETF - 1 Yr Apr...	2.62%	Apr 1, 2025	BSEP vs ZAPR

Lowest Drawdown Alternatives to BSEP

BSEP alternatives from the Defined Outcome category, sorted by maximum drawdown over the past year.

Symbol	Name	Max Drawdown 1Y	Inception
ZDEK	Innovator Equity Defined Protection ETF - 1 Yr Dec...	-1.57%	Dec 1, 2024	BSEP vs ZDEK
ZFEB	Innovator Equity Defined Protection ETF - 1 Yr Feb...	-1.73%	Feb 3, 2025	BSEP vs ZFEB
ZJAN	Innovator Equity Defined Protection ETF - 1 Yr Jan...	-1.87%	Dec 31, 2024	BSEP vs ZJAN
ZOCT	Innovator Equity Defined Protection ETF - 1 Yr Oct...	-1.91%	Oct 1, 2024	BSEP vs ZOCT
ZMAR	Innovator Equity Defined Protection ETF - 1 Yr Mar...	-1.92%	Mar 3, 2025	BSEP vs ZMAR

Other ETFs from Innovator

Most popular Innovator ETFs on PortfoliosLab, across asset classes.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
BALT	Innovator Defined Wealth Shield ETF	Defined Outcome	86	-0.13%	Jun 30, 2021	BSEP vs BALT
FFTY	Innovator IBD 50 ETF	Large Cap Growth Equities	41	-4.02%	Apr 9, 2015	BSEP vs FFTY
BUFF	Innovator Laddered Allocation Power Buffer ETF	Defined Outcome	77	-0.90%	Oct 20, 2016	BSEP vs BUFF
LOUP	Innovator Deepwater Frontier Tech ETF	Technology Equities	80	-9.90%	Jul 24, 2018	BSEP vs LOUP
SFLR	Innovator Equity Managed Floor ETF	Options Trading	72	-3.85%	Nov 8, 2022	BSEP vs SFLR
PJAN	Innovator U.S. Equity Power Buffer ETF - January	Defined Outcome	71	-1.89%	Jan 2, 2019	BSEP vs PJAN
PJUL	Innovator U.S. Equity Power Buffer ETF - July	Defined Outcome	84	-1.00%	Aug 7, 2018	BSEP vs PJUL
POCT	Innovator U.S. Equity Power Buffer ETF October	Defined Outcome	68	-1.84%	Sep 28, 2018	BSEP vs POCT
UAUG	Innovator U.S. Equity Ultra Buffer ETF - August	Defined Outcome	83	-1.44%	Jul 31, 2019	BSEP vs UAUG
BOUT	Innovator IBD Breakout Opportunities ETF	Mid Cap Growth Equities	25	8.23%	Sep 13, 2018	BSEP vs BOUT

Often Compared With BSEP

What investors most often compare with BSEP, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
HELO	JPMorgan Hedged Equity Laddered Overlay ETF	Options Trading	58	-3.69%	Sep 28, 2023	BSEP vs HELO
VOO	Vanguard S&P 500 ETF	S&P 500	65	-4.42%	Sep 7, 2010	BSEP vs VOO
KBUF	KraneShares 90% KWEB Defined Outcome January 2026 ...	Options Trading	12	-8.06%	Feb 7, 2024	BSEP vs KBUF
SPY	State Street SPDR S&P 500 ETF	S&P 500	64	-4.37%	Jan 22, 1993	BSEP vs SPY
BAUG	Innovator U.S. Equity Buffer ETF - August	Defined Outcome	73	-2.38%	Jul 31, 2019	BSEP vs BAUG
BGLD	FT Vest Gold Strategy Quarterly Buffer ETF	Defined Outcome, Gold	74	0.18%	Jan 20, 2021	BSEP vs BGLD
FOCT	FT Vest U.S. Equity Buffer ETF - October	Defined Outcome	73	-2.67%	Oct 16, 2020	BSEP vs FOCT

Compare BSEP with Any Fund or Stock

Compare BSEP with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Innovator U.S. Equity Buffer ETF - September

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