BFRZ - Innovator Equity Managed 100 Buffer ETF
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Equity Managed 100 Buffer ETF™
 BFRZ
ETF SUMMARY
The Innovator Equity Managed 100 Buffer ETF ™ is actively managed by Parametric, and seeks to provide 100% downside protection, before fees and expenses, through a one-year laddered options portfolio.
There is no guarantee the Fund will be successful in providing the sought-after protection of the buffers. The Fund's option strategy may cause the Fund to forego a portion of any upside returns of the Equity Portfolio.
GROWTH OF $10,000
Data from 5/12/2025 to 12/4/2025
ETF PERFORMANCE & BENCHMARK HISTORY Quarter End | Month End
 YTD1 Year3 Year5 YearInception
Fund NAV----6.11%
Fund Closing Price----6.29%
S&P 500 Index----15.04%
Data as of 9/30/2025. The Fund incepted on 5/12/2025. Performance quoted represents past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Returns less than one year are cumulative. One cannot invest directly in an index.
ETF DETAILS
Ticker
BFRZ
Listing Date
5/13/2025
Number of Holdings
192
Expense Ratio
0.89%
Distribution Frequency
Quarterly
CUSIP
45784N619
Exchange
NYSE Arca
TRADING DETAILS
NAV
$26.84
Closing Price
$26.80
Premium/Discount
-$0.04 / -0.17%
30 Day Median Bid-Ask Spread
0.26%
Shares Outstanding
2,900,000
Market Value
$77,850,057
As of 12/4/2025
MARKET DETAILS
Last Price
$26.80
Change
+$0.01 / +0.04%
Bid / Ask
$12.97 / $27.01
Midpoint
$19.99
Volume
17,300
As of 12/4/2025
Need Help Trading BFRZ?
See our 3 Rules for ETF Trading
RESEARCH
DOCUMENTS
ETF STRATEGY
U.S. LARGE CAP EQUITY EXPOSURE
PORTFOLIO OF LADDERED BUFFERS
PARAMETRIC'S ACTIVE CALL-SELLING STRATEGY
TOP 10 HOLDINGS As of 12/5/2025
TickerCompanySectorWeight
NVDANVIDIA CorpInformation Technology7.20%
AAPLApple IncInformation Technology6.91%
MSFTMicrosoft CorpInformation Technology5.91%
AMZNAmazon.com IncConsumer Discretionary3.75%
GOOGLAlphabet IncInformation Technology3.18%
AVGOBroadcom Inc.Information Technology2.85%
GOOGAlphabet IncInformation Technology2.69%
 U.S. Bank Money Market Deposit AccountCash2.58%
FBFacebook IncInformation Technology2.41%
TSLATesla IncConsumer Discretionary2.30%
» View All Holdings
Holdings are subject to change.
sector
SECTOR WEIGHTS
Information Technology
42.95%
Consumer Discretionary
11.55%
Financials
9.83%
Health Care
8.83%
Industrials
6.55%
Consumer Staples
4.62%
Energy
3.22%
Unclassified
3.16%
Cash
2.58%
Utilities
2.16%
Materials
1.60%
Communication Services
1.52%
Real Estate
1.43%
Other
0.00%
DISTRIBUTIONS
Ex-Dividend Date Record Date Payable Date Income Short Term Gains Long Term Capital Gains Return of Capital Total Distribution
9/30/2025 9/30/2025 10/2/2025 $0.01725 $0.00000 $0.00000 $0.00000 $0.01725  
6/30/2025 6/30/2025 7/1/2025 $0.01392 $0.00000 $0.00000 $0.00000 $0.01392  
Subject to change
NEED HELP TRADING BFRZ?
If you have questions around BFRZ execution, we can help you find the best price available on the market. Feel free to email or call us directly at 800.208.5212, or contact your trade desk to walk you through how to achieve best execution.
3 RULES FOR ETF TRADING
• Avoid trading on the open or the close
• Use limit orders
• Leverage resources that can help
 
Leading the Defined Outcome ETF Revolution™
The Fund seeks to provide risk-managed investment exposure to the U.S. Large Capitalization Companies represented by the Solactive GBS United States 500 Index (Equity Index) through its hedging strategy. There is no guarantee that the Fund will be successful in providing risk-managed investment exposure to the Equity Index. The Fund seeks to achieve its investment objective by purchasing a series of put option contracts with “laddered” expiration dates, up to a year, that are three months apart. The Fund will also systemically sell short-dated call option contracts, which have an expiration date of approximately two weeks, with an objective of funding the purchases of put option contracts.The Fund seeks to provide a series of “buffers” that each aim to protect the Fund against 100% of losses experienced by the Equity Index, as measured at the end of one-year periods and before fees and expenses. The implementation of the buffers is not guaranteed. As a result of the Fund’s laddered investment approach, on an ongoing basis the Fund will experience investment buffers that are expected to be greater or less than the 100% buffer sought-after by an individual Options Portfolio.The Fund seeks to provide capital appreciation while seeking to limit the amount of losses experienced by investors. The Fund does not provide principal protection or non-principal protection, and an investor may experience losses on its investment. In a market environment where the Equity Index is generally appreciating, the Fund may underperform the Equity Index and/or similarly situated funds.The Sub-Adviser will seek to “ladder” the Fund’s option contracts by entering into a new purchased put option contract packages every three-months. After a put option contract expires, the Fund will enter into a new put option contract with one-year expiration date that are staggered every three months.Because the Fund ladders its option contracts and due to the Fund’s put option contracts having different terms (including expiration dates), different tranches of put option contracts may produce different returns, the effect of which may be to reduce the Fund’s sought-after protection. Therefore, at any given moment the Fund may not receive the benefit of the sought-after protection on losses that could have been available from an Options Portfolio with a single expiration date.FLEX Options Risk. The Fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.
Shares are bought and sold at market price, not net asset value (NAV), and are not individually redeemable from the fund. NAV represents the value of each share's portion of the fund's underlying assets and cash at the end of the trading day. Market price returns reflect the midpoint of the bid/ask spread as of the close of trading on the exchange where fund shares are listed.
© 2025 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.
Nothing on this website should be considered a solicitation to buy or an offer to sell shares of any Fund in any jurisdiction where the offer or solicitation would be unlawful under the securities laws of such jurisdiction.
Investing involves risk. Principal loss is possible. All rights reserved. Innovator ETFs are distributed by Foreside Fund Services, LLC.
The Fund's investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus and summary prospectus contain this and other important information, and it may be obtained at innovatoretfs.com. Read it carefully before investing.
The following marks: Accelerated ETFs®, Accelerated Plus ETF®, Accelerated Return ETF®, Barrier ETF®, Buffer ETF™, Defined Outcome Bond ETF®, Defined Outcome ETFs™, Define Your Future®, Enhanced ETF™, Floor ETF®, Innovator ETFs®, Leading the Defined Outcome ETF Revolution™, Managed Buffer ETF®, Managed Outcome ETF®, Step-Up™, Step-Up ETFs®, Defined Protection ETF®, 100% Buffer ETFs™ and all related names, logos, product and service names, designs, and slogans are the trademarks of Innovator Capital Management, LLC, its affiliates or licensors. Use of these terms is strictly prohibited without proper written authorization.
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