Today Innovator added two new ETFs to its lineup of defined outcome ETFs. The products are the Innovator Nasdaq-100 Power Buffer ETF — October (NOCT) and the Innovator Russell 2000 Power Buffer ETF — October (KOCT) and represent extensions of the firm’s “Buffer” family.
NOCT and KOCT both come with an expense ratio of 0.79% and list on Cboe Global Markets, parent company of ETF.com.
The Innovator “Buffer” ETFs offer limited protection against downturns and also limited upside. While NOCT is tied to the price return of the Nasdaq-100 Index, KOCT is tied to the price return of the small-cap Russell 2000 Index.
The funds invest in Flexible Exchange Options tied to their underlying indexes, and reset at the start of every October. Innovator also offers similar ETFs tied to the S&P 500 Index, the MSCI EAFE Index and the MSCI Emerging Markets Index. With ETFs tied to all three major U.S. indexes and two international indexes, the Innovator family currently offers coverage of major equity asset classes.
NOCT and KOCT both protect against declines of up to 15% during the outcome period prior to taking into account expenses. The upside cap for NOCT is 10.31%, while the upside cap for KOCT is 9.99%.
Three ETFs Reset
The October Series of Innovator’s S&P 500 Buffer ETFs resets today, meaning their performance for the next year will be subject to the same buffers and upside caps. The new levels, before expense, are as follows:
- The Innovator S&P 500 Buffer ETF (BOCT) comes with a 9% downside buffer and has a new upside cap of 14.12%.
- The Innovator S&P 500 Power Buffer ETF (POCT) comes with a downside buffer of 15% and has a new upside cap of 9.2%
- The Innovator S&P 500 Ultra Buffer ETF (UOCT) comes with a downside buffer that protects against losses between 5% and 35% and has a new upside cap of 7.7%.
Below is a list of recent changes to existing ETFs.
|Effective Date||Affected Fund||Change|
|9/30/2019||FormulaFolios Tactical Growth ETF (FFTG)||The expense ratio for SECT was lowered from 1.04% to 1.02%.|
|9/30/2019||Main Sector Rotation ETF (SECT)||The expense ratio for SECT was raised from 0.78% to 0.83%.|
|9/23/2019||SPDR ACWI IMI ETF (ACIM)||ACIM changed its name to the SPDR Portfolio MSCI Global Stock Market ETF and its ticker to SPGM. The expense ratio was lowered from 0.25% to 0.09%.|
|9/23/2019||SPDR Bloomberg Barclays Corporate Bond ETF (CBND)||CBND changed its name to the SPDR Portfolio Corporate Bond ETF and its ticker to SPBO.|
|9/23/2019||SPDR ICE BofAML Broad High Yield Bond ETF (CJNK)||CJNK changed its name to the SPDR Portfolio High Yield Bond ETF and its ticker to SPHY.|
|9/23/2019||SPDR STOXX Europe 50 ETF (FEU)||FEU changed its index from the STOXX Europe 50 Index to the STOXX Europe Total Market Index. It also changed its name to the SPDR Portfolio Europe ETF and its ticker to SPEU. The expense ratio was cut from 0.29% to 0.09%.|
|9/23/2019||SPDR Bloomberg Barclays TIPS ETF (IPE)||IPE changed its name to the SPDR Fportfolio TIPS ETF and its ticker to SPIP. The expense ratio was cut from 0.15% to 0.12%.|
|9/23/2019||SPDR Bloomberg Barclays Intermediate Term Treasury ETF (ITE)||ITE changed its name to the SPDR Portfolio Intermediate Term Treasury ETF and its ticker to SPTI.|
|9/23/2019||SPDR Portfolio Mortgage Backed Bond ETF (MBG)||MBG changed its name to the SPDR Portfolio Mortgage Backed Bond ETF and its ticker to SPMB.|
|9/23/2019||iShares Global Consumer Discretionary ETF (RXI)||The index for RXI changed from the S&P Global 1200 Consumer Discretionary Index to the S&P Global 1200 Consumer Discretionary (Sector) Capped Index.|
|9/23/2019||United States 3x Short Oil Fund (USOD)||USOD underwent a reverse 1-for-2 split.|
Contact Heather Bell at [email protected]