# Innovator Equity Defined Protection ETF (TJUL): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/tjul 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: Passive Index · Inception: 2023-07-18 The Innovator Equity Defined Protection ETF (TJUL) is designed to replicate the performance of the SPDR S&P 500 ETF Trust (SPY). This fund offers a unique structure: it provides complete protection against any market downturns, absorbing 100% of losses, but its potential gains are subject to a predefined maximum. These characteristics are valid over a specific two-year investment cycle, and are measured before any associated fees or expenses are factored in. ## Key Facts | Metric | Value | |---|---| | Price | $30.69 | | Expense Ratio | 0.79% | | Assets Under Management | $114.5M | | NAV | $30.74 | | Holdings Count | 5 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $29.16 – $30.88 | | Beta | 0.24 | ## Frequently Asked Questions ### What does TJUL invest in? The Innovator Equity Defined Protection ETF (TJUL) is designed to replicate the performance of the SPDR S&P 500 ETF Trust (SPY). This fund offers a unique structure: it provides complete protection against any market downturns, absorbing 100% of losses, but its potential gains are subject to a predefined maximum. These characteristics are valid over a specific two-year investment cycle, and are measured before any associated fees or expenses are factored in. ### What is the expense ratio of TJUL? Innovator Equity Defined Protection ETF (TJUL) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is TJUL? Innovator Equity Defined Protection ETF (TJUL) manages $114.5M 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 TJUL actively managed or an index fund? TJUL is a passive index fund. It tracks a published benchmark by holding the constituents in their published weights. Index funds typically charge low expense ratios (TJUL's is 0.79%) because there's no security selection cost. ### When was TJUL launched? Innovator Equity Defined Protection ETF (TJUL) launched in July 2023 and is managed by Innovator. ### How has TJUL performed? TJUL'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 TJUL pay a dividend? Innovator Equity Defined Protection ETF (TJUL) 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 TJUL pay dividends? Innovator Equity Defined Protection 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 TJUL's dividend yield? TJUL's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is TJUL's next ex-dividend date? TJUL 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 TJUL'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 TJUL charge its expense ratio? The expense ratio is deducted in tiny daily slices from TJUL'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 TJUL cost more than a fund like VOO? TJUL is a passive index fund (current expense ratio 0.79%). Differences from broad-market ETFs like VOO usually come from index licensing fees, asset class (bond funds typically run cheaper than equity), or fund scale (smaller funds spread fixed operating costs across less AUM). ### Are there cheaper alternatives to TJUL? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as TJUL (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/tjul - Distribution history: https://www.dividenddata.com/funds/tjul/dividend - Holdings & diversification: https://www.dividenddata.com/funds/tjul/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/tjul/expenses - Peer comparison: https://www.dividenddata.com/funds/tjul/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.