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Defined Outcome

Innovator·105 of 179 funds·84% of Innovator’s moneyIn the market’s Defined Outcome bucket: 404 ETFs · $101B · +8.7% YTD

Data as of Nov 5, 2026 · a scoreboard, not advice

1Y record: 83–1
Made money: 99%
Assets: $32.1B
Share of Defined Outcome: 32%

Story of the Week

Week of Nov 2, 2026

The 10 Largest Defined Outcome ETFsTodayInnovator funds in gold2 of 10are Innovator’s

02 / 04

Innovator’s Total Defined Outcome Funds

105 funds · 99% made money new: under a year old

Made money$30.6B

BALT+6.3%$3.2B SFLR+6.6%$2.2B PJAN+11.1%$1.4B PJUL+8.9%$1.3B PSEP+8.9%$1.2B POCT+11.0%$1.1B BUFF+10.1%$1.1B PAUG+10.0%$1.0B PDEC+11.7%$975M PAPR+12.9%$957M PFEB+11.6%$883M PJUN+7.3%$870M ZALT+7.8%$840M PNOV+10.9%$834M PMAY+9.5%$781M PMAR+11.3%$742M BSEP+11.5%$459M BAPR+16.5%$414M BOCT+13.2%$357M BJUL+11.0%$356M BJAN+13.6%$343M BUFB+12.1%$338M NJAN+11.2%$329M NOCT+8.0%$314M KJAN+13.7%$310M UJUL+8.3%$304M NJUL+4.9%$268M UOCT+9.7%$267M BAUG+12.2%$266M UJAN+10.1%$250M UAUG+9.4%$245M USEP+8.4%$243M BJUN+8.2%$243M UDEC+11.2%$232M KJUL+6.9%$221M BDEC+12.3%$211M NAPR+13.8%$204M BFEB+13.6%$204M BMAR+14.1%$200M QBUF+3.5%$198M BNOV+10.2%$193M EALT+4.2%$187M UJUN+6.3%$183M BMAY+10.6%$180M KAPR+16.2%$179M DDFO+8.0%$173M KOCT+15.1%$171M UFEB+10.2%$167M NJUN+3.4%$164M DDFL+7.3%$159M UAPR+11.9%$158M UMAR+10.7%$142M PSTP+7.5%$132M XBAP+13.8%$128M DDFS+7.1%$121M NSEP+7.9%$111M RBUF+8.5%$109M UNOV+10.6%$107M RFLR+15.2%$95.5M XBJA+11.0%$93.9M DDTL+9.5%$88.8M NNOV+8.8%$85.8M UMAY+8.2%$83.2M NFEB+11.4%$79.4M XBJL+9.6%$76.6M KAUG+9.7%$71.8M DDFN+9.7%$67.7M KDEC+12.7%$66.8M NAUG+10.2%$65.2M NDEC+10.7%$59.7M XBOC+10.8%$59.0M BSTP+9.5%$58.8M KJUN+7.0%$55.3M NMAY+7.6%$47.0M NMAR+12.4%$46.4M KMAY+8.3%$46.2M KNOV+14.1%$42.1M KFEB+14.8%$40.7M KSEP+12.5%$40.7M DDTO+11.1%$36.6M DDTS+9.7%$33.2M DDTN+11.3%$32.3M KMAR+14.4%$31.8M

Lost money$492M

QFLR−0.1%$492M

Innovator defined outcome ETFs · past-year returns · as of Nov 5, 2026 · one tile per fund, largest first

Innovator in Defined Outcome

Today

Innovator $32.1BEveryone else $69.1B

Innovator holds 32% of Defined Outcome AUM

Innovator ETFs · current holdings · as of Nov 5, 2026

Innovator’s Defined Outcome Funds vs AUM

Today

26%of the funds32%of the AUM

Defined Outcome ETFsFundsAUM

Innovator105 · 26%$32.1B · 32%

Everyone else299 · 74%$69.1B · 68%

Defined Outcome ETFs · current AUM · as of Nov 5, 2026 · 404 funds

Top 10 Innovator Defined Outcome ETFs

Today

$14.6B of $32.1B

#FundAUM ▼1YFee

1BALTDefined Wealth Shield$3.2B+6.3%$0.69

2SFLREquity Managed Floor$2.2B+6.6%$0.89

3PJANU.S. Equity Power Buffer$1.4B+11.1%$0.79

4PJULU.S. Equity Power Buffer$1.3B+8.9%$0.79

5PSEPU.S. Equity Power Buffer$1.2B+8.9%$0.79

6POCTU.S. Equity Power Buffer$1.1B+11.0%$0.79

7BUFFLaddered Allocation Power Buffer$1.1B+10.1%$0.10

8PAUGU.S. Equity Power Buffer - August$1.0B+10.0%$0.79

9PDECU.S. Equity Power Buffer$975M+11.7%$0.79

10PAPRU.S. Equity Power Buffer$957M+12.9%$0.79

Innovator defined outcome ETFs · current AUM · as of Nov 5, 2026 · fee per $100 a year

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BALT vs BUFR

YTD

BALT

Innovator · $3.2B

+4.7%

BUFR

First Trust · $10.9B

+10.3%

+6.3%Past year+11.8%

$3.2BAssets$10.9B

End-of-day Nov 4, 2026

PAPR vs BALT

PAPR

Innovator · $957.5M

+12.9%

BALT

Innovator · $3.2B

+6.3%

+11.2%Year to date+4.7%

0.79%Fee0.69%

End-of-day Nov 4, 2026

PDEC vs BALT

PDEC

Innovator · $975.3M

+11.7%

BALT

Innovator · $3.2B

+6.3%

+9.7%Year to date+4.7%

$975MAssets$3.2B

End-of-day Nov 4, 2026

JAJL vs BALT

JAJL

Innovator · $303.5M

+5.6%

BALT

Innovator · $3.2B

+6.3%

+4.7%Year to date+4.7%

0.0%Yield0.0%

End-of-day Nov 4, 2026

The Year in Innovator Defined Outcome ETFs

Innovator’s Defined Outcome ETF Record

83–1made money · lost
of 84 with a full year

99%all ETFs 78%

Each bar is one fund · 1Y return

Typical +10.2%BAPR +16.5%QFLR −0.1%

1 lost83 made money

Innovator defined outcome ETFs · past-year returns · as of Nov 5, 2026

Innovator’s Defined Outcome ETF Fees

Today

$0.75per $100 a year, typical

Funds at each fee · per $100 a year

0.10

0.69

0.79

0.89

95 funds at $0.79$23.4B · 73% of the money

Innovator defined outcome ETFs · current fees · as of Nov 5, 2026

Inside Defined Outcome

Largest ETFs in Each Kind

YTD

KindFunds3 biggestMoneyAssetsYTD

Buffer373BUFR · BUFD · BUFQ$86.4B+9.1%

Hedged equity31HELO · BALT · SFLR$14.8B+6.5%

Bold Innovator fund among the kind’s 3 biggestWhole kindYTD asset-weighted

Defined Outcome ETFs · year-to-date returns, asset-weighted · as of Nov 5, 2026

Innovator’s Defined Outcome ETF Launches

2026

19defined outcome launches in 2026

Jan 2 · 4 fundsAssets

$113M

DDSQ

$69.6M

DDFJ

$26.5M

DDNQ

$18.0M

DDTJ

Aug 3DDFG · DDTGETFs Trust - Innovator Equity Dual Directional 15 Buffer - August$123M$0.79

Jun 1DDFZ · DDTZETFs Trust - Innovator Equity Dual Directional 15 Buffer - June$176M$0.79

May 1DDFY · DDTYETFs Trust - Innovator Equity Dual Directional 15 Buffer - May$107M$0.79

Apr 1DDFA · DDTAETFs Trust - Innovator Equity Dual Directional 15 Buffer - April$72.5M$0.79

Mar 2DDFM · DDTMETFs Trust - Innovator Equity Dual Directional 15 Buffer - March$56.2M$0.79

Innovator defined outcome ETFs · launched in the past year · as of Nov 5, 2026 · fee per $100

IDefined Outcome

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The Year in Innovator Defined Outcome ETFs

Inside Defined Outcome

Defined Outcome