Defined Outcome ETF Overview

Defined Outcome ETFs offer investors exposure to the price return of broad equity markets to a cap, with built-in downside buffer levels, over an outcome period of approximately one year, at which point each ETF will reset.

With 67 ETFs traded in the U.S. markets, Defined Outcome ETFs gather total assets under management of $5.08B. The average expense ratio is 0.82%. Defined Outcome ETFs can be found in the following asset classes:

  • Equity
  • Fixed Income

The largest Defined Outcome ETF is the FT Cboe Vest U.S. Equity Deep Buffer ETF - February DFEB with $521.24M in assets. In the last trailing year, the best performing Defined Outcome ETF was the BOCT at 13.69%. The most-recent ETF launched in the Defined Outcome space was the FT Cboe Vest U.S. Equity Deep Buffer ETF DOCT in 10/16/20.

Top ETF Performers

KJAN Innovator Russell 2000 Power Buffer ETF - January 3.80%
KJUL Innovator Russell 2000 Power Buffer ETF - July 3.44%
BOCT Innovator S&P 500 Buffer ETF - October 2.83%
EJAN Innovator MSCI Emerging Markets Power Buffer ETF - January 2.73%
BNOV Innovator S&P 500 Buffer ETF - November 2.71%

Bottom ETF Performers

TBJL Innovator 20+ Year Treasury Bond 9 Buffer ETF - July -1.59%
DBOC Innovator Double Stacker 9 Buffer ETF - October --
DOCT FT Cboe Vest U.S. Equity Deep Buffer ETF --
NOCT Innovator Nasdaq-100 Power Buffer ETF - October 0.38%
IJUL Innovator MSCI EAFE Power Buffer ETF - July 0.55%

Top Creations

PSEP Innovator S&P 500 Power Buffer ETF - September 159.95
BSEP Innovator S&P 500 Buffer ETF - September 45.58
USEP Innovator S&P 500 Ultra Buffer ETF - September 37.88
FAUG FT Cboe Vest U.S. Equity Buffer ETF - August 35.60
KJAN Innovator Russell 2000 Power Buffer ETF - January 32.93

Top Redemptions

POCT Innovator S&P 500 Power Buffer ETF - October -38.52
PFEB Innovator S&P 500 Power Buffer ETF - February -28.60
UJAN Innovator S&P 500 Ultra Buffer ETF - January -23.76
PNOV Innovator S&P 500 Power Buffer ETF - November -14.30
PAUG Innovator S&P 500 Power Buffer ETF - August -10.86

AUM Winners

DOCT FT Cboe Vest U.S. Equity Deep Buffer ETF 298.00%
FSEP FT Cboe Vest U.S. Equity Buffer ETF - September 209.07%
BSEP Innovator S&P 500 Buffer ETF - September 183.47%
BOCT Innovator S&P 500 Buffer ETF - October 135.88%
BUFR FT Cboe Vest Fund of Buffer ETF 129.31%

AUM Losers

TBJL Innovator 20+ Year Treasury Bond 9 Buffer ETF - July -19.32%
BDEC Innovator S&P 500 Buffer ETF - December -11.53%
PNOV Innovator S&P 500 Power Buffer ETF - November -9.27%
UDEC Innovator S&P 500 Ultra Buffer ETF - December -6.14%
BAPR Innovator S&P 500 Buffer ETF - April -5.68%

Daily ETF Watch

First Trust Debuts October Buffer ETFs

The issuer moves closer to completing its lineup of defined outcome ETFs.

Daily ETF Watch

TrueShares, AllianzIM Add To ETF Lineups

Both firms launched additions to their defined outcome families for the month of October.

Daily ETF Watch

Innovator Debuts ‘Stacker’ ETFs

The funds capture multiple upside streams of returns, but only one downside stream. 

ETF Report

How Defined Outcome ETFs Work

This trend in ETFs provides a new angle on risk management.

Daily ETF Watch

First Trust Launches Sept. Buffer ETFs

First Trust moves closer to completing its family of defined outcome funds tied to the S&P 500 Index.

ETF Report

The Slings & Arrows Facing Advisors

Challenges, threats and succession are all in a day’s work, on top of the profound pandemic changes.

ETF Report

Advisors & ETFs: A Perfect Match?

ETFs are just one tool among many that advisors use.

Daily ETF Watch

New ETFs Offer Buffered Bond Exposure

Innovator adds another twist to its defined outcome lineup.

Features and News

‘Buffers’ Expand ETF Toolbox

Defined outcome ETFs have taken root and given investors a unique way to manage risk.