Alternatives

Buffered & Defined Outcome ETFs

Options overlays that absorb the first 9-20% of losses over a set outcome period, in return for a hard cap on gains. Buying mid-period means you get a different buffer and cap than the headline, so always check where the fund sits in its cycle.

Theme performance

Equal-weighted across every fund in this objective

1Y: +9.2%
5Y ann.: +8.0%
10Y ann.: —
All-time ann.: —

Sort5 funds

BUFR

FT Vest Laddered Buffer ETF

First Trust

Holds twelve monthly buffer ETFs at once, so you are never stuck mid-outcome-period.

Fee: 1.05%
AUM: $5.4B
Yield: 0.0%

1Y: +11.4%
5Y ann.: +8.9%
10Y ann.: —
Max ann.: —

BALT

Innovator Defined Wealth Shield ETF

Innovator

A 20% quarterly buffer, the deepest protection in the lineup, with a correspondingly low cap.

Fee: 0.69%
AUM: $1.4B
Yield: 0.0%

1Y: +5.6%
5Y ann.: —
10Y ann.: —
Max ann.: —

PJAN

Innovator US Equity Power Buffer ETF - January

Innovator

Buffers the first 15% of S&P 500 losses over a one-year period starting each January.

Fee: 0.79%
AUM: $1.1B
Yield: 0.0%

1Y: +9.1%
5Y ann.: +7.4%
10Y ann.: —
Max ann.: —

PAPR

Innovator US Equity Power Buffer ETF - April

Innovator

The same 15% buffer structure on an April-to-April outcome period.

Fee: 0.79%
AUM: $900M
Yield: 0.0%

1Y: +9.4%
5Y ann.: +7.6%
10Y ann.: —
Max ann.: —

FDEC

FT Vest US Equity Buffer ETF - December

First Trust

Buffers the first 10% of losses on the S&P 500 over a December-to-December year.

Fee: 0.85%
AUM: $600M
Yield: 0.0%

1Y: +10.6%
5Y ann.: +8.1%
10Y ann.: —
Max ann.: —