Key stats
About Innovator ETFs Trust Innovator Power Buffer Step-Up Strategy ETF
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Inception date
Mar 8, 2022
Structure
Open-Ended Fund
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Innovator Capital Management LLC
Distributor
Foreside Fund Services LLC
PSTP offers an alternative way of managing buffer strategies. It uses FLEX options to moderate losses on the SPDR S&P 500 ETF, with the options portfolio providing a buffer against the first 15% of losses in exchange for capping the upside participation. Unlike other buffer ETFs, the fund does not use a defined outcome strategy. Instead, it evaluates its portfolio monthly and uses a step-up strategy to offset timing risks inherent in owning an options portfolio for one year. At the end of each month, the adviser may sell then-current portfolio and enter new options contracts with a new one-year duration if the NAV rises by 2% to 6% or falls by -1% to -5%. By doing so, the fund potentially captures more upside in positive markets, while refreshing the buffer against market loss. Since the fund is not designed to hold the options portfolio to its expiration date, investors will experience very different investment results than if the options portfolio were held for its contract duration.
Classification
Returns
| 1 month | 3 months | Year to date | 1 year | 3 years | 5 years | |
|---|---|---|---|---|---|---|
| Price performance | — | — | — | — | — | — |
| NAV total return | — | — | — | — | — | — |
What's in the fund
Exposure type
Rights & Warrants
Bonds, Cash & Other100.00%
Rights & Warrants99.98%
Cash0.02%
Top 10 holdings
Symbol
Assets
O
OPTIONS
99.98%
U
U.S. Dollar
0.02%
Top 10 weight100.00%
2 total holdings
Dividends
Dividend payout history