DDFL ETF — Innovator Equity Dual Directional 15 Buffer ETF - July

Innovator Equity Dual Directional 15 Buffer ETF - July (DDFL)

Updated October 16, 2026.

DDFL is an ETF. its expense ratio is 0.79%. Total return is 10.2% over the past 1.3 years, 15.1 points behind SPY at 25.3%.

This ETF provides exposure to the S&P 500 through the SPDR S&P 500 ETF Trust, employing a dual directional 15 buffer strategy designed to offer downside protection using options while maintaining upside participation. The fund does not currently distribute income, carrying an expense ratio of 0.79% annually. It may appeal to investors seeking equity market exposure with built-in downside cushioning rather than traditional dividend income.

DDFL performance versus SPY

Price and return data through 2026-10-16.

Total return is 10.2% over the past 1.3 years, 15.1 points behind SPY at 25.3%. Its deepest 1-year drawdown was 1.6%.

DDFL key facts

Issuer

Innovator ETFs

Asset type

ETF

Asset class

Equity

Inception date

06/30/2025

Expense ratio

0.79%

Distribution frequency

None

Last close

$21.62 (as of 2026-10-16)

AUM

$159,346,035

Average volume

12320.0

Beta

0.192

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; 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.

DDFL risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 1.6%.

Who may consider DDFL — and who may not

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

More on DDFL

• All tickers starting with D

Tagged: Downside Protection, Options, Target.

Frequently asked questions

More securities from Innovator ETFs.