# Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr November (ZNOV): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/znov for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: Innovator · Asset class: — - Strategy: Thematic · Inception: 2024-11-01 ZNOV invests all its assets in FLEX options. The option positions are structured in a way that aims to provide long exposure to US large-cap stocks, up to a cap, while fully hedging downside risk over one year. The upside cap and hedge are reset annually, at the beginning of November. Shareholders should note that they will not receive dividends since the objective focuses on potential growth. The specific defined outcome pursued may only be possible if an investor would hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome strategy pursued w... ## Key Facts | Metric | Value | |---|---| | Price | $28.09 | | Expense Ratio | 0.79% | | Assets Under Management | $106.0M | | NAV | $28.07 | | Holdings Count | 0 | | Distribution Yield (TTM) | — | | Annual Distribution (TTM) | — /share | | Distribution Frequency | — | | 52-Week Range | $26.35 – $28.18 | | Beta | 0.20 | ## Frequently Asked Questions ### What does ZNOV invest in? ZNOV invests all its assets in FLEX options. The option positions are structured in a way that aims to provide long exposure to US large-cap stocks, up to a cap, while fully hedging downside risk over one year. The upside cap and hedge are reset annually, at the beginning of November. Shareholders should note that they will not receive dividends since the objective focuses on potential growth. The specific defined outcome pursued may only be possible if an investor would hold the shares for the entire outcome period. However, there is no guarantee that the defined outcome strategy pursued will be realized by investors. When factoring risks, potential rewards, and the all-in costs for such a strategy, ZNOV is considered an alternative to more expensive fixed indexed annuities, market-linked CDs, holding near-term Treasury, or cash. ### What is the expense ratio of ZNOV? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr November (ZNOV) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations. ### What is the duration of ZNOV? Effective duration measures ZNOV's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. ZNOV's current duration is published on the fund's factsheet on the issuer's website. ### What is the credit quality of ZNOV? ZNOV's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds. ### What is the yield to maturity of ZNOV? Yield to maturity (YTM) is the total return you'd earn from ZNOV if every bond in the portfolio is held to maturity at the current price. ZNOV's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid. ### How big is ZNOV? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr November (ZNOV) manages $106.0M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Does ZNOV pay a dividend? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr November (ZNOV) 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 ZNOV pay dividends? Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 1 Yr November 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 ZNOV's dividend yield? ZNOV's trailing-twelve-month yield is —, calculated from the sum of dividends over the past year divided by the current price. ### When is ZNOV's next ex-dividend date? ZNOV 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 ZNOV'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 ZNOV charge its expense ratio? The expense ratio is deducted in tiny daily slices from ZNOV'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 ZNOV cost more than a fund like VOO? ZNOV'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 ZNOV sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to ZNOV? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as ZNOV (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/znov - Distribution history: https://www.dividenddata.com/funds/znov/dividend - Holdings & diversification: https://www.dividenddata.com/funds/znov/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/znov/expenses - Peer comparison: https://www.dividenddata.com/funds/znov/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.