BFRZ Innovator Equity Managed 100 Buffer ETF
Quote as of Aug 26, 2026 19:59 UTC · Market data delayed approximately 15–20 minutes unless otherwise indicated.
| Previous Close | 27.03 | Day Range | 26.99 – 27.07 |
| 52-Week Range | 25.21 – 29.48 | Volume | 30.87K |
| Avg Volume | 43.80K | AUM | $141.6M (Aug 26, 2026) |
| Expense Ratio | 0.89% | Yield (TTM) | 0.26% |
| NAV | 26.98 | Premium/Discount | +0.13% indicative |
| Inception | May 13, 2025 | Holdings | 188 |
| Issuer | Innovator | Exchange | AMEX |
| Category | Buffer | Index Tracked | S&P 500 |
| CUSIP | 45784N619 | ISIN | US45784N6195 |
| Structure | Buffer / Defined Outcome | ||
| Management | Not stated in source data | ||
About this ETF
BFRZ aims to provide 40 to 50% upside exposure to the S&P 500 Index, with one-third of the volatility and a target of 1 to 3% for annual maximum loss. BFRZ differentiates itself by holding physical equities, allowing potential dividends to pass through to shareholders. The underlying portfolio is systematically managed to pursue the same profile but with less than 70% overlap in holdings with the S&P 500 Index. The portfolio also holds quarterly laddered 10% in-the-money puts on the S&P 500 and writes bi-weekly covered calls. The scatter plot forms a smile, indicating that the fund, compared to the S&P, may experience limited upside participation but may also gain by avoiding significant losses in a market drawdown. The fund continuously rolls the option contracts, therefore, it does not have a stated outcome period. This making it crucial to know that the entry/exit point for trading the shares is at the end of each calendar quarter.
Description from the fund data provider · profile as of Aug 26, 2026.
Price Chart
Daily closing prices (price return, not total return). Comparison lines are normalized to percent change from the range start. Source: Financial Modeling Prep.
Performance
| 1M | 3M | 6M | YTD | 1Y | 3Y* | 5Y* | 10Y* | Incep.* | |
|---|---|---|---|---|---|---|---|---|---|
| Price return | +0.63% | -0.37% | +0.60% | +0.71% | +4.16% | — | — | — | +7.95% |
| Total return | +0.63% | -0.30% | +0.71% | +0.82% | +4.44% | — | — | — | +8.29% |
* Annualized. Total return uses the dividend-adjusted price series (distributions reinvested); price return uses unadjusted closes. Performance through Aug 25, 2026. Past performance does not guarantee future results.
Fees
| Net expense ratio | 0.89% | Annual cost of a $10,000 investment | $89.00 |
Illustrative calculation only: expense ratio × $10,000. It excludes trading costs, bid/ask spreads, taxes and changes in investment value. Gross vs. net expense details and any fee waivers are in the prospectus.
Holdings
Holdings as of Aug 22, 2026 — portfolio reporting date from the data provider; holdings are not live positions. 189 rows in database.
| # | Holding | Ticker | Weight | Shares | Market Value |
|---|---|---|---|---|---|
| 1 | NVIDIA Corp | NVDA | 7.55% | 49.89K | $10.7M |
| 2 | Apple Inc | AAPL | 6.90% | 31.64K | $9.8M |
| 3 | Microsoft Corp | MSFT | 5.35% | 15.73K | $7.6M |
| 4 | Amazon.com Inc | AMZN | 3.96% | 21.72K | $5.6M |
| 5 | Alphabet Inc | GOOGL | 3.14% | 12.92K | $4.5M |
| 6 | Broadcom Inc | AVGO | 2.73% | 10.54K | $3.9M |
| 7 | Alphabet Inc | GOOG | 2.62% | 10.87K | $3.7M |
| 8 | SPXW US 06/30/27 P8250 | — | 1.95% | 45 | $2.8M |
| 9 | Meta Platforms Inc | META | 1.87% | 4.83K | $2.7M |
| 10 | Micron Technology Inc | MU | 1.85% | 2.72K | $2.6M |
| 11 | Tesla Inc | TSLA | 1.76% | 6.88K | $2.5M |
| 12 | JPMORGAN CHASE & CO. | JPM | 1.74% | 7.01K | $2.5M |
| 13 | Eli Lilly & Co | LLY | 1.73% | 1.96K | $2.5M |
| 14 | Advanced Micro Devices Inc | AMD | 1.35% | 4.04K | $1.9M |
| 15 | ExxonMobil Holdings Corp | XOM | 1.26% | 10.85K | $1.8M |
| 16 | Johnson & Johnson | JNJ | 1.23% | 6.45K | $1.7M |
| 17 | Berkshire Hathaway Inc | BRK-B | 1.22% | 3.49K | $1.7M |
| 18 | Visa Inc | V | 1.19% | 4.54K | $1.7M |
| 19 | Cisco Systems Inc | CSCO | 1.02% | 13.03K | $1.4M |
| 20 | AbbVie Inc | ABBV | 0.99% | 5.32K | $1.4M |
| 21 | Mastercard Inc | MA | 0.95% | 2.32K | $1.3M |
| 22 | Merck & Co Inc | MRK | 0.90% | 8.33K | $1.3M |
| 23 | Bank of America Corp | BAC | 0.87% | 20.11K | $1.2M |
| 24 | Walmart Inc | WMT | 0.86% | 11.83K | $1.2M |
| 25 | Costco Wholesale Corp | COST | 0.85% | 1.27K | $1.2M |
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Geographic Exposure
Country weights as reported by the data provider. Developed/emerging/frontier labels follow the classification on the Methodology page. Currency hedged: No hedging indicated in the fund name.
Distributions
| Yield (TTM) | 0.26% | Paid (last 12 months) | $0.0710 |
| Frequency | Quarterly | SEC yield | Not provided by our data source — see the issuer page |
| Last ex-date | Jun 30, 2026 | Last payment | $0.0160 (Jul 01, 2026) |
| Growth 1Y | — | Growth 3Y / 5Y (ann.) | — / — |
| Ex-date | Record | Pay date | Amount |
|---|---|---|---|
| Jun 30, 2026 | Jun 30, 2026 | Jul 01, 2026 | $0.0160 |
| Mar 31, 2026 | Mar 31, 2026 | Apr 01, 2026 | $0.0150 |
| Dec 31, 2025 | Dec 31, 2025 | Jan 02, 2026 | $0.0230 |
| Sep 30, 2025 | Sep 30, 2025 | Oct 02, 2025 | $0.0170 |
| Jun 30, 2025 | Jun 30, 2025 | Jul 01, 2025 | $0.0140 |
Trailing distribution yield = last 12 months of cash ÷ current price. It is NOT the SEC 30-day yield and distributions are not guaranteed to continue. The difference explained →
Risk Statistics
| Volatility 1Y / 3Y | 5.88% / — | Sharpe 1Y / 3Y | 0.157 / — |
| Max drawdown 1Y / 3Y | -3.11% / — | Sortino 1Y | 0.211 |
| Beta vs S&P 500 (3Y) | 0.35 | Correlation vs S&P 500 (1Y) | 0.828 |
| Downside deviation 1Y | 4.37% | Risk-free rate used | 3.72% (3M T-bill, FRED) |
Computed by ETF Explorer from daily dividend-adjusted closes; volatility and drawdown are annualized/period figures; S&P 500 exposure proxied by SPY. As of Aug 26, 2026. Formulas →
Liquidity
| Volume today | 30.87K | Average volume | 43.80K |
| AUM | $141.6M | Premium/Discount | +0.13% |
| Bid/Ask spread | Not provided by our data source. Check your broker's quote screen; spreads are widest at the open and close. | ||
Premium/discount compares the delayed market price with the last reported NAV — an indicative figure, not the official closing premium/discount. How ETF liquidity works →
Fund Flows (estimated)
| Period | Est. net flow | % of starting AUM | AUM start → end |
|---|---|---|---|
| 1 Day | -$316.6K | -0.22% | $142.0M → $141.6M |
| 1 Week | -$928.1K | -0.65% | $143.0M → $141.6M |
ETF Explorer estimate: change in reported AUM minus the market-move effect, from our own daily snapshots. Not official issuer creation/redemption data.
Official Fund Resources
External links open the issuer's site or SEC EDGAR in a new tab. The prospectus and official documents are always the authoritative source — review them before investing.
Latest News for BFRZ
No articles mention this fund directly in the last 7 days — showing general ETF coverage.
Guided help: AUM is fund size. The expense ratio is the yearly cost baked into returns. NAV is the value of what the fund owns per share; the market price can sit slightly above (premium) or below (discount) it. Total return assumes distributions were reinvested. Every dataset shows its own as-of date because holdings, assets and quotes update on different schedules.