Innovator Defined Wealth Shield ETF
Actively managed U.S. alternative ETF
As of its 2026 Q2 report, Innovator Defined Wealth Shield ETF held 5 positions with $2.42B in net assets. Its ten largest holdings made up 109.2% of the fund. The fund costs 0.69% a year. Over the 12 months to May 2026, it returned 7.2%, with dividends reinvested.
The Fund seeks capital appreciation with a measure of downside protection by providing investors with returns that match the return of the Underlying ETF, up to the upside cap of 2.60% (prior to taking into account management fees and other Fund operating expenses) while seeking to provide a buffer against the first 20% (prior to taking into account management fees and other Fund operating expenses) of Underlying ETF losses, over the period from April 1, 2026 through June 30, 2026.
The fund invests in FLEX Options referencing the State Street SPDR S&P 500 ETF Trust, and may also hold that ETF directly, to deliver capped upside and buffered downside over three-month outcome periods. For the April–June 2026 outcome period, the fund caps gains at 2.60% (2.42% net of fees) while seeking to buffer the first 20% of losses from the underlying ETF. Because FLEX Options values fluctuate daily based on time decay and underlying price moves, the fund's daily returns will not track the underlying ETF proportionally, and the stated cap and buffer are only guaranteed at the outcome period's end for shareholders holding throughout. The fund is non-diversified and concentrates in information technology through its S&P 500 exposure.
What you own
| Company | Weight | Value | Shares |
|---|---|---|---|
N/A | 108.45% | $2.62B | — |
N/A | 0.60% | $14.43M | — |
US BANK MMDA - USBGFS 9 | 0.14% | $3.36M | — |
All 5 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Derivatives | 99.92% |
| Cash & short-term | 0.14% |
Derivatives are shown at market value, not notional exposure.
How it has done
C000228657 share class · total returns with dividends reinvested
Volatility over the last 12 months: 2.01%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Fees & fund details
Innovator Defined Wealth Shield ETF is an actively managed U.S. alternative ETF.
- Asset class
- Alternative
- Region
- United States
- Management
- Actively managed
- Fund type
- ETF
- Features
- Defined outcome · Non-diversified
- Expense ratio, by class
- 0.69%
- Portfolio turnover
- 0.00% a year · as of 2026 Q2
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
New and exited totals aren’t verifiable for this fund.
Understand how this fund fits with the rest.
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