BALT ETF — Innovator Defined Wealth Shield ETF

Innovator Defined Wealth Shield ETF (BALT)

Updated October 12, 2026.

BALT is an ETF that tracks the S&P 500 (via SPY). its expense ratio is 0.69%. Total return is 36.3% over the past 5.3 years, 57.6 points behind SPY at 93.9%.

Innovator Defined Wealth Shield ETF is an ETF that seeks to deliver S&P 500 returns up to a capped level while providing a 20% downside buffer over quarterly outcome periods, using options strategies overlaid on SPY exposure. The fund does not distribute income, carries an expense ratio of 0.69%, and appeals to equity investors seeking downside protection in exchange for capped upside potential.

BALT performance versus SPY

Price and return data through 2026-10-12.

Total return is 36.3% over the past 5.3 years, 57.6 points behind SPY at 93.9%. Over the past year its total return — price change plus distributions reinvested — is 7.2%. Its deepest 1-year drawdown was 1.2%.

BALT key facts

Issuer

Innovator ETFs

Asset type

ETF

Asset class

Equity

Inception date

06/30/2021

Expense ratio

0.69%

Distribution frequency

None

Last close

$35.06 (stale; as of 2026-10-12)

AUM

$3,129,672,901

Average volume

530027.0

Beta

0.17

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: Innovator ETFs or company page; Index: S&P 500 (via SPY); prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

BALT risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 1.2%.

Who may consider BALT — and who may not

It is a weaker fit for investors who need monthly cash flow (BALT does not currently distribute); investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from Innovator ETFs.