KSEP ETF — Innovator U.S. Small Cap Power Buffer ETF - September

Innovator U.S. Small Cap Power Buffer ETF - September (KSEP)

Updated October 16, 2026.

KSEP is an ETF. its expense ratio is 0.79%. Total return is 20.8% over the past 2.1 years, 21.1 points behind SPY at 41.9%.

Innovator U.S. Small Cap Power Buffer ETF - September is an ETF that invests at least 80% of its net assets in flexible exchange options referencing the iShares Russell 2000 ETF, providing exposure to U.S. small-cap equities through an options-based strategy. The fund does not currently distribute income, and carries an expense ratio of 0.79%. This ETF may appeal to investors seeking equity exposure through an alternative derivatives-based approach rather than traditional dividend income.

KSEP performance versus SPY

Price and return data through 2026-10-16.

Total return is 20.8% over the past 2.1 years, 21.1 points behind SPY at 41.9%. Over the past year its total return — price change plus distributions reinvested — is 9.5%. Its deepest 1-year drawdown was 4.8%.

KSEP key facts

Issuer

Innovator ETFs

Asset type

ETF

Asset class

Equity

Inception date

08/30/2024

Expense ratio

0.79%

Distribution frequency

None

Last close

$30.12 (as of 2026-10-16)

AUM

$39,885,826

Average volume

3750.0

Beta

0.621

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.

KSEP risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 4.8%.

Who may consider KSEP — and who may not

It is a weaker fit for investors who need monthly cash flow (KSEP 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 KSEP

• All tickers starting with K

Tagged: Downside Protection, Options, Target, Small Caps.

Frequently asked questions

More securities from Innovator ETFs.