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BFRZ ETF — Innovator Equity Managed 100 Buffer ETF
Innovator Equity Managed 100 Buffer ETF (BFRZ)
Updated October 16, 2026.
Verdict as of October 16, 2026
BFRZ's distribution is rated unproven by the Dividend Vision Distribution Safety Score™ (50/100, medium confidence). It pays quarterly and its distribution rate is 0.18%. The latest total cash payment per current share, $0.012 with an ex-date of September 30, 2026, was 25.0% lower than the previous $0.016. These payments are unclassified; this does not establish a base-dividend change.
Sources: Innovator ETFs, Section 19a-1 notices, scoring methodology.
BFRZ is an ETF. its distribution rate is 0.18%, its trailing-12-month yield is 0.24%, its expense ratio is 0.89%. Dividend Vision Distribution Safety Score™ is 50/100 (Unproven). Total return is 8.9% over the past 1.4 years, 23.3 points behind SPY at 32.2%.
Innovator Equity Managed 100 Buffer ETF is an ETF that invests at least 80% of its assets in equity securities and equity-linked options to provide buffered equity exposure. The fund has a modest distribution rate and pays distributions quarterly, with an expense ratio of 0.89%. It may appeal to equity investors seeking downside protection through its buffer strategy.
BFRZ dividend yield and income
Price as of 2026-10-16.
The distribution rate (0.18%) uses calculation basis unavailable. Trailing-12-month yield (0.24%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.012. The ex-dividend date is 09/30/2026. The payment date is 10/02/2026.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2026-09-30 | $0.012 | -25.0% Unclassified cash |
| 2026-06-30 | $0.016 | 6.7% Unclassified cash |
| 2026-03-31 | $0.015 | -34.8% Unclassified cash |
| 2025-12-31 | $0.023 | 35.3% Unclassified cash |
| 2025-09-30 | $0.017 | 21.4% Unclassified cash |
| 2025-06-30 | $0.014 | — |
| 2025 total (partial launch year) | $0.054 | — |
| 2026 YTD total | $0.043 | — |
BFRZ holdings and sector exposure
Holdings are not available for this snapshot.
BFRZ performance versus SPY
Price and return data through 2026-10-16.
Total return is 8.9% over the past 1.4 years, 23.3 points behind SPY at 32.2%. Its deepest 1-year drawdown was 3.1%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 1.5% | — |
| 3M | 0.3% | — |
| 6M | 3.3% | — |
| YTD | 1.4% | — |
| 1Y | 2.7% | — |
| Since inception (1.4 years) | 8.9% | 6.20% |
BFRZ key facts
- Distribution Safety Score™
- 50 · Unproven
- Issuer
- Innovator ETFs
- Asset type
- ETF
- Asset class
- Equity
- Inception date
- 05/12/2025
- Expense ratio
- 0.89%
- Distribution rate
- 0.18%
- Distribution frequency
- Quarterly
- Trailing yield
- 0.24%
- Last close
- $27.17 (as of 2026-10-16)
- AUM
- $142,149,549
- Average volume
- 32835.0
- Dividend
- $0.012
- Ex-dividend date
- 09/30/2026
- Payment date
- 10/02/2026
- Beta
- 0.3523
How Dividend Vision calculates yield and returns
Distribution rate (0.18%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.24%) 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; 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.
BFRZ risks and drawbacks
BFRZ's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Payments are quarterly, so cash flow is lumpy versus a monthly fund. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 3.1%.
Who may consider BFRZ — and who may not
It is a weaker fit for investors who need monthly cash flow (BFRZ pays quarterly); 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.
More on BFRZ
Frequently asked questions
Does BFRZ pay monthly?
No. BFRZ currently pays quarterly, not monthly.
What is BFRZ's expense ratio?
BFRZ's expense ratio is 0.89%.
What is BFRZ's dividend yield?
BFRZ's distribution rate is 0.18%, paid quarterly, with a 0.89% expense ratio — calculation basis unavailable.
When does BFRZ pay a dividend?
BFRZ pays quarterly. The dividend amount is $0.012. The ex-dividend date is 09/30/2026. The payment date is 10/02/2026.
How has BFRZ performed?
Total return is 8.9% over the past 1.4 years, 23.3 points behind SPY at 32.2%. Its deepest 1-year drawdown was 3.1%.
Is BFRZ a good investment?
BFRZ's Dividend Vision Distribution Safety Score is 50 (Unproven). That is a risk signal, not investment advice. Its distribution rate is 0.18% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
More securities from Innovator ETFs.
Tickers
Holdings as-of date unavailable.
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