Innovator Adds To ‘Buffer’ ETF Family

Innovator Adds To ‘Buffer’ ETF Family

Issuer rolls out another set of defined outcome funds maturing in October.
Reviewed by: Staff
Edited by: Staff

Today, Innovator ETFs rolled out another trio of defined outcome funds. The three new funds offer returns within a set range tied to the S&P 500 Index, and will reset every October. They are as follows:

Each ETF lists on Cboe Global Markets, the parent company of, and comes with an expense ratio of 0.79%.

All three funds are tied to the return of the S&P 500 Index, but with limitations. POCT offers protection against the first 15% of losses in the index starting Oct. 1, but caps the returns realized by investors at 10% before expenses and 9.21% after expenses.

Similarly, BOCT protects against the first 9% of losses in the S&P 500, capping positive returns at 15.3% before expenses and 14.51% after expenses.

Finally, UOCT protects against losses of 5% or more, up to 35%. Each of the three ETFs will cover the period Oct. 1, 2018 through Sept. 30, 2019 before resetting.

Investors not purchasing the funds on day one of their covered time period can expect a different outcome, and the Innovator website provides a chart that shows what that altered expected outcome is based on the purchase price.

The trio of new ETFs are part of a series in which three ETFs are expected to be launched each quarter until all four quarters are covered.

Innovator also launched three funds over the summer: the Innovator S&P 500 Power Buffer ETF – July (PJUL), the Innovator S&P 500 Buffer ETF – July (BJUL) and the Innovator S&P 500 Ultra Buffer ETF – July (UJUL).

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