DBOC Profile
The
Innovator Double Stacker 9 Buffer ETF October (DBOC) is an
exchange-traded fund that seeks to provide investors with exposure to
the performance of the S&P 500 Price Index while also offering
downside protection. DBOC seeks to achieve its investment objective by
investing in a combination of (i) SPDR S&P 500 ETF Trust (SPY), (ii)
put options on the SPDR S&P 500 ETF Trust (SPY), and (iii) US Treasury
Bills.
The fund has a unique structure in that it provides
investors with two levels of downside protection. The first level of
protection is provided by the purchase of out-of-the-money put options
on the SPDR S&P 500 ETF Trust. These options provide a buffer against
the first 9% of losses in the S&P 500 Price Index. The second level of
protection is provided by holding US Treasury Bills. These Treasury
Bills provide liquidity to the fund and serve as a cushion against
losses beyond the 9% buffer.
DBOC has an expense ratio of 0.79%
and is rebalanced monthly. The fund is relatively new, having been
launched on October 1, 2021, and therefore has limited performance
history. As of March 23, 2023, the fund had a net asset value of $3.32
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