Innovator ETFs Trust - Innovator Equity Dual Directional 15 Buffer ETF - July

Frequently Asked Questions About DDFL

What does DDFL invest in?

DDFL makes available a strategy that previously was only available in a structured note. Investors need to understand the unique return characteristics and limitations of this product before investing. The fund aims to provide capital appreciation for investors using FLEX Options tied to the price performance of the SPDR S&P 500 ETF (SPY). After a one-year period, if (SPY) shares have appreciated to a cap, investors will experience a positive return on a 1:1 basis. If (SPY) incurs negative returns of 15%, the fund provides positive returns matching the absolute value of those losses. Additionally, the fund offers buffered returns against losses exceeding 15% during the same period, less fees, and expenses. Shares are expected to be held for the entire one-year outcome period in attempt to receive the structured outcome return.

What is the expense ratio of DDFL?

Innovator ETFs Trust - Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations.

How big is DDFL?

Innovator ETFs Trust - Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) manages $159.7M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is DDFL actively managed or an index fund?

DDFL's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.

When was DDFL launched?

Innovator ETFs Trust - Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL) launched in July 2025 and is managed by Innovator.

How has DDFL performed?

DDFL's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon.