# Innovator U.S. Small Cap Power Buffer ETF - September (KSEP): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/ksep for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Innovator · Asset class: Equity - Strategy: Buffered · Inception: 2024-09-01 KSEP uses FLEX options in an effort to moderate losses on the iShares Russell 2000 ETF over a one-year period starting each September. The fund foregoes some upside return as well as the ETF's dividend component, because the options are written on the price (not total) return version of the shares. In exchange for preventing realization of the first 15% of losses on the shares, investors forego upside some participation. The partial downside hedge and upside cap are reset annually. Investors who buy at any other time than the annual reset day may have a very different protection and buffer... ## Key Facts | Metric | Value | |---|---| | Price | $30.52 | | Expense Ratio | 0.79% | | Assets Under Management | $40.5M | | NAV | $30.58 | | Holdings Count | 6 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $26.65 – $31.51 | | Beta | 0.57 | ## Frequently Asked Questions ### What does KSEP invest in? KSEP uses FLEX options in an effort to moderate losses on the iShares Russell 2000 ETF over a one-year period starting each September. The fund foregoes some upside return as well as the ETF's dividend component, because the options are written on the price (not total) return version of the shares. In exchange for preventing realization of the first 15% of losses on the shares, investors forego upside some participation. The partial downside hedge and upside cap are reset annually. Investors who buy at any other time than the annual reset day may have a very different protection and buffer zone. The issuer publishes effective interim levels daily on its website. The fund must be held the entire outcome period in an attempt to achieve the intended results. The targeted buffers and caps do not include the funds expense ratio. The fund is actively managed, using FLEX options and collateral exclusively. ### What is the expense ratio of KSEP? Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is KSEP? Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) manages $40.5M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is KSEP actively managed or an index fund? KSEP's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was KSEP launched? Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) launched in September 2024 and is managed by Innovator. ### How has KSEP performed? KSEP'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. ### Does KSEP pay a dividend? Innovator U.S. Small Cap Power Buffer ETF - September (KSEP) 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 KSEP pay dividends? Innovator U.S. Small Cap Power Buffer ETF - September 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 KSEP's dividend yield? KSEP's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is KSEP's next ex-dividend date? KSEP 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 KSEP'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 KSEP charge its expense ratio? The expense ratio is deducted in tiny daily slices from KSEP'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 KSEP cost more than a fund like VOO? KSEP'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 KSEP sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to KSEP? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as KSEP (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/ksep - Distribution history: https://www.dividenddata.com/funds/ksep/dividend - Holdings & diversification: https://www.dividenddata.com/funds/ksep/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/ksep/expenses - Peer comparison: https://www.dividenddata.com/funds/ksep/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.