# Innovator ETFs Trust - Innovator Equity Dual Directional 10 Buffer ETF - May (DDTY): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/ddty for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Innovator · Asset class: — - Strategy: Options Income · Inception: 2026-05-01 DDTY 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 10%, the fund provides positive returns matching the absolute value of those losses. Additi... ## Key Facts | Metric | Value | |---|---| | Price | $20.74 | | Expense Ratio | 0.79% | | Assets Under Management | $36.3M | | NAV | $20.73 | | Holdings Count | 0 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $19.66 – $20.98 | | Beta | 0.43 | ## Frequently Asked Questions ### What does DDTY invest in? DDTY 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 10%, the fund provides positive returns matching the absolute value of those losses. Additionally, the fund offers buffered returns against losses exceeding 10% 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 DDTY? Innovator ETFs Trust - Innovator Equity Dual Directional 10 Buffer ETF - May (DDTY) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations. ### What is DDTY's distribution yield? DDTY's trailing-twelve-month yield is —, calculated from the sum of distributions over the past year divided by the current price. ### How does DDTY's covered-call strategy work? DDTY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund. ### How big is DDTY? Innovator ETFs Trust - Innovator Equity Dual Directional 10 Buffer ETF - May (DDTY) manages $36.3M 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 DDTY actively managed or an index fund? DDTY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### Does DDTY pay a distribution? Yes, Innovator ETFs Trust - Innovator Equity Dual Directional 10 Buffer ETF - May (DDTY) distributes distributions to shareholders. The trailing-twelve-month yield is —. Full distribution history is on this page. ### How often does DDTY pay distributions? Innovator ETFs Trust - Innovator Equity Dual Directional 10 Buffer ETF - May pays distributions on its published schedule. Each ex-dividend date, record date, and payment date is listed in the distribution history table on this page. ### When is DDTY's next ex-distribution date? DDTY hasn't announced its next ex-date yet. Once declared it'll appear at the top of the distribution history table on this page. ### Is DDTY's distribution sustainable? Covered-call ETFs like DDTY fund their distributions from option premium income. Sustainability depends on (1) whether option premiums stay high enough to cover the announced rate, and (2) whether NAV holds up over time. The NAV Erosion section on this page contrasts total return with price change since inception. If distributions consistently exceed total return, the fund is paying out capital rather than income. ### How much will DDTY'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 DDTY charge its expense ratio? The expense ratio is deducted in tiny daily slices from DDTY'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 DDTY cost more than a fund like VOO? DDTY is an options-income fund (current expense ratio 0.79%). Covered-call and 0DTE strategies require active option-writing, daily rebalancing, and dedicated risk management. They cost more than passive equity funds. The Cost Verdict card compares DDTY against the options-income cohort, not VOO. ### Are DDTY's distributions taxed at ordinary income or qualified-dividend rates? DDTY's option-premium distributions are typically classified as ordinary income (NOT the qualified-dividend rate), so they're taxed at your marginal federal rate plus state. For a 24% bracket investor that's roughly 2x the 15% long-term capital gains rate most dividend investors are used to. The Fee Compounding Forecast card above lets you layer in this tax drag alongside the fund fee. Consult a tax advisor. This is not tax advice. ### Are there cheaper alternatives to DDTY? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as DDTY (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/ddty - Distribution history: https://www.dividenddata.com/funds/ddty/dividend - Holdings & diversification: https://www.dividenddata.com/funds/ddty/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/ddty/expenses - Peer comparison: https://www.dividenddata.com/funds/ddty/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.