RFLR ETF — Innovator U.S. Small Cap Managed Floor ETF

Innovator U.S. Small Cap Managed Floor ETF (RFLR)

Updated October 16, 2026.

RFLR is an ETF. its distribution rate is 0.85%, its trailing-12-month yield is 0.67%, its expense ratio is 0.89%. Dividend Vision Distribution Safety Score™ is 79/100 (Generally safe). Total return is 25.4% over the past 2.1 years, 13.7 points behind SPY at 39.1%.

Innovator U.S. Small Cap Managed Floor ETF invests at least 80% of its assets in equity securities of U.S. small-cap companies, along with option contracts providing economic exposure to the same, employing a managed floor strategy as a non-diversified fund. The fund offers a modest current distribution rate paid quarterly and carries an expense ratio of 0.89%. It appeals to equity investors seeking small-cap exposure with downside management through the fund's floor strategy.

RFLR performance versus SPY

Price and return data through 2026-10-16.

Total return is 25.4% over the past 2.1 years, 13.7 points behind SPY at 39.1%. Over the past year its total return — price change plus distributions reinvested — is 11.2%. Its deepest 1-year drawdown was 7.1%.

RFLR key facts

Distribution Safety Score™

79 · Generally safe

Safety-Adjusted Yield

0.67%

Issuer

Innovator ETFs

Asset type

ETF

Asset class

Equity

Inception date

09/16/2024

Expense ratio

0.89%

Distribution rate

0.85%

Distribution frequency

Quarterly

Trailing yield

0.67%

Last close

$31.07 (as of 2026-10-16)

AUM

$94,262,195

Average volume

15267.0

Dividend

$0.06566

Ex-dividend date

09/30/2026

Payment date

10/02/2026

Beta

0.7616

How Dividend Vision calculates yield and returns

Distribution rate (0.85%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (0.67%) 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.

RFLR risks and drawbacks

RFLR'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 7.1%.

Who may consider RFLR — and who may not

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

• All tickers starting with R

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

Frequently asked questions

More securities from Innovator ETFs.