# Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to July 2028 (AJUL): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/ajul for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Innovator · Asset class: — - Strategy: Thematic · Inception: 2024-07-01 AJUL invests all its assets in FLEX options. The option positions are structured in a way that aims to provide long exposure to US large-cap stocks, up to a cap, while fully hedging downside risk over two years. The upside cap and hedge are reset every other year at the beginning of July. Shareholders should note that they will not receive dividends since the objective focuses on potential growth. The specific defined outcome pursued may only be possible if an investor would hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome strategy pursu... ## Key Facts | Metric | Value | |---|---| | Price | $30.30 | | Expense Ratio | 0.79% | | Assets Under Management | $98.5M | | NAV | $30.32 | | Holdings Count | 0 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $28.48 – $30.51 | | Beta | 0.25 | ## Frequently Asked Questions ### What does AJUL invest in? AJUL invests all its assets in FLEX options. The option positions are structured in a way that aims to provide long exposure to US large-cap stocks, up to a cap, while fully hedging downside risk over two years. The upside cap and hedge are reset every other year at the beginning of July. Shareholders should note that they will not receive dividends since the objective focuses on potential growth. The specific defined outcome pursued may only be possible if an investor would hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome strategy pursued will be realized by investors. When factoring risks, potential rewards, and the all-in costs for such a strategy, AJUL is considered an alternative to more expensive fixed indexed annuities, market-linked CDs, holding near-term Treasury, or cash. For comparative purposes, AJUL investors need to double the stated expense ratio of the fund. ### What is the expense ratio of AJUL? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to July 2028 (AJUL) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations. ### What is the duration of AJUL? Effective duration measures AJUL's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. AJUL's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of AJUL? AJUL's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of AJUL? Yield to maturity (YTM) is the total return you'd earn from AJUL if every bond in the portfolio is held to maturity at the current price. AJUL's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### How big is AJUL? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to July 2028 (AJUL) manages $98.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Does AJUL pay a dividend? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to July 2028 (AJUL) currently distributes little or no income. Trailing-twelve-month yield is —. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does AJUL pay dividends? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to July 2028 pays dividends on its published schedule. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is AJUL's dividend yield? AJUL's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is AJUL's next ex-dividend date? AJUL hasn't announced its next ex-date yet. Once declared it'll appear at the top of the dividend history table on this page. ### How much will AJUL's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.79% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does AJUL charge its expense ratio? The expense ratio is deducted in tiny daily slices from AJUL's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does AJUL cost more than a fund like VOO? AJUL's strategy (current expense ratio 0.79%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where AJUL sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to AJUL? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as AJUL (0.79%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/ajul - Distribution history: https://www.dividenddata.com/funds/ajul/dividend - Holdings & diversification: https://www.dividenddata.com/funds/ajul/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/ajul/expenses - Peer comparison: https://www.dividenddata.com/funds/ajul/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.