USEP

Innovator U.S. Equity Ultra Buffer ETF

Innovator · Defined Outcome

$42.30▼ −0.2% last session▲ +6.5% YTD

As of 10/29/2026, 4:00:00 PM ET · End-of-day

ETFETF Tracker@TheETFTracker · etftracker.io

Dividend-adjusted total return. Comparisons share the fund’s start date. S&P 500 uses VOO. Missing history is unavailable.

Returns	1D	1M	3M	YTD	1Y	3Y	5Y	MAX
Total return	▼ −0.2%	▲ +0.6%	▲ +1.4%	▲ +7.6%	▲ +8.3%	▲ +45.0%	▲ +49.3%	▲ +73.0%
Peer average	▼ −0.1%	▲ +99.6%	▲ +2.3%	▲ +8.8%	▲ +9.8%	▲ +48.6%	▲ +54.5%	—
S&P 500 · VOO	▼ −0.4%	▲ +0.9%	▲ +3.3%	▲ +13.8%	▲ +13.3%	▲ +88.8%	▲ +81.9%	—

What’s in USEP

Reported holdings are shown below. A share-of-fund chart is unavailable for this portfolio.

HoldingsAll 8 listed · as of Oct 30, 2026

1VOOVanguard S&P 500 ETF98.32%

2—VOO 08/31/2027 669.65 P3.29%

3—US BANK MMDA - USBGFS 9 09/01/20370.50%

4—VOO 08/31/2027 733.06 C0.11%

5—Cash & Other-0.05%

6—VOO 08/31/2027 733.06 P-0.12%

7—VOO 08/31/2027 458.18 P-0.60%

8—VOO 08/31/2027 808.49 C-1.46%

Go deeper

PortfolioHoldings & exposure

Holdings as of 2026-10-30. Derivatives are shown using their reported instrument names.

Holding	Instrument	Weight
VOOVanguard S&P 500 ETF	Reported holding	98.32%
VOO 08/31/2027 669.65 P	Reported holding	3.29%
US BANK MMDA - USBGFS 9 09/01/2037	Reported holding	0.50%
VOO 08/31/2027 733.06 C	Reported holding	0.11%
Cash & Other	Reported holding	-0.05%
VOO 08/31/2027 733.06 P	Reported holding	-0.12%
VOO 08/31/2027 458.18 P	Reported holding	-0.60%
VOO 08/31/2027 808.49 C	Reported holding	-1.46%

Prospectus & documentsRead the official filings

Official documents are being connected from SEC EDGAR. Read the issuer’s prospectus before investing.

Fund factsStructure & strategy

Issuer: Innovator
Inception: 2019-09-03
Exchange: CBOE
CUSIP: 45782C649
Structure: —
Benchmark: —
Leverage: 1x
Reset: —

This ETF, the Innovator U.S. Equity Ultra Buffer ETF, endeavors to replicate the returns of the SPDR S&P 500 ETF Trust (SPY) up to a pre-established limit. Concurrently, it shields investors from downturns between -5% and -35% over its defined outcome period. Investors can maintain their holdings for an unlimited time, with the fund's parameters recalibrating roughly every twelve months at the conclusion of each outcome period.

Trading & liquidityNAV, volume & spreads

Reported net asset value: $42.38
NAV provider updated: 2026-10-29 UTC
Premium / discount: —
Median spread · 30D: —
Average volume · 30D: 79.8K
Shares outstanding: —
Options: —

DistributionsYield & payout history

TTM distribution yield: 0.0%
30-day SEC yield: —
Frequency: —
Latest ex-date: 2019-11-19

Distribution yield and SEC yield use different methodologies. Payouts may include income, capital gains, or return of capital.

Ex-date	Pay date	Per share
2019-11-19	2019-11-21	$0.16

Fees & costsWhat ownership costs

Net expense ratio: 0.79%
Gross expense ratio: —
Management fee: —
Annual cost per $10,000: $79.00

Estimated annual expense excludes trading costs and assumes constant assets. Fee waivers and fund costs can change.

RiskVolatility & drawdown

Our risk indicator: 3/5 · rule-based
Annualized volatility · 1Y: 5.22%
Beta vs VOO · 1Y: —
Maximum drawdown · 1Y: ▼ −4.0%

Historical risk measures describe past behavior and do not predict future returns.

From the issuer

Hear the strategy from the people behind USEP.

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