# Innovator U.S. Equity Power Buffer ETF (PSEP): ETF Facts & Distributions

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- Issuer: Innovator · Asset class: Equity
- Strategy: Buffered · Inception: 2019-09-03

The Innovator U.S. Equity Power Buffer ETF is designed to mirror the returns of the SPDR S&P 500 ETF Trust (SPY), up to a predefined maximum gain. Simultaneously, it provides investors with a safeguard against the initial 15% of any losses incurred over its specific outcome period. This fund is structured for continuous ownership, with its protective and capping mechanisms resetting approximately once a year.

## Key Facts

| Metric | Value |
|---|---|
| Price | $46.84 |
| Expense Ratio | 0.79% |
| Assets Under Management | $1.22B |
| NAV | $46.78 |
| Holdings Count | 6 |
| Distribution Yield (TTM) | — |
| Annual Distribution (TTM) | — /share |
| Distribution Frequency | — |
| 52-Week Range | $42.31 – $47.48 |
| Beta | 0.49 |

## Frequently Asked Questions

### What does PSEP invest in?

The Innovator U.S. Equity Power Buffer ETF is designed to mirror the returns of the SPDR S&P 500 ETF Trust (SPY), up to a predefined maximum gain. Simultaneously, it provides investors with a safeguard against the initial 15% of any losses incurred over its specific outcome period. This fund is structured for continuous ownership, with its protective and capping mechanisms resetting approximately once a year.

### What is the expense ratio of PSEP?

Innovator U.S. Equity Power Buffer ETF (PSEP) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations.

### How big is PSEP?

Innovator U.S. Equity Power Buffer ETF (PSEP) manages $1.22B 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 PSEP actively managed or an index fund?

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

### When was PSEP launched?

Innovator U.S. Equity Power Buffer ETF (PSEP) launched in September 2019 and is managed by Innovator.

### How has PSEP performed?

PSEP'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 PSEP pay a dividend?

Innovator U.S. Equity Power Buffer ETF (PSEP) 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 PSEP pay dividends?

Innovator U.S. Equity Power Buffer ETF 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 PSEP's dividend yield?

PSEP's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price.

### When is PSEP's next ex-dividend date?

PSEP 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 PSEP'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 PSEP charge its expense ratio?

The expense ratio is deducted in tiny daily slices from PSEP'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 PSEP cost more than a fund like VOO?

PSEP'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 PSEP sits within its own category, which is the comparison that actually matters.

### Are there cheaper alternatives to PSEP?

The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as PSEP (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/psep
- Distribution history: https://www.dividenddata.com/funds/psep/dividend
- Holdings & diversification: https://www.dividenddata.com/funds/psep/diversification
- Fees & cheaper alternatives: https://www.dividenddata.com/funds/psep/expenses
- Peer comparison: https://www.dividenddata.com/funds/psep/peers

Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.