Innovator U.S. Equity Buffer ETF - February
BFEB
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Bruce Bond
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Feb 3, 2020
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator U.S. Equity Buffer ETF - February (BFEB) is an actively managed exchange-traded fund that seeks to track the price return of the SPDR S&P 500 ETF Trust (SPY) up to a predetermined cap while providing a buffer against the first 9% of losses over a one-year outcome period from February 1 to January 31 annually; the fund invests at least 80% of its net assets in FLEXible EXchange® Options (FLEX Options) referencing SPY and holds collateral consisting primarily of cash and U.S. Treasuries. Shares can be held indefinitely with the outcome period resetting each year, though holding through multiple periods means caps and buffers are reset based on SPY's price at the start of each new period, potentially forfeiting prior gains above the cap or failing to recapture prior losses beyond the buffer. The ETF, which lists on Cboe BZX, targets investors seeking equity exposure with defined downside protection and capped upside in the large-cap U.S. equity segment; as of late 2025, it has net assets of approximately $196 million, an expense ratio of 0.79%, and is part of Innovator ETFs' broader suite of over 150 defined outcome ETFs including additional U.S. Equity Buffer ETFs for other months, Defined Income ETFs, and Defined Protection ETFs. BFEB was launched on February 3, 2020, as a series of Innovator ETFs Trust, sponsored and managed by Innovator Capital Management, LLC, an investment adviser founded in 2017 and headquartered in Wheaton, Illinois. The firm pioneered defined outcome ETFs in 2018, managing roughly $28 billion across its ETF portfolio as of September 30, 2025, primarily serving financial advisors, institutional investors, and individual investors seeking risk-managed strategies linked to U.S. equities. In December 2025, Goldman Sachs Group Inc. agreed to acquire Innovator Capital Management for approximately $2 billion in a cash-and-equity deal expected to close in the second quarter of 2026, subject to regulatory approval; this transaction will integrate Innovator's team and products into Goldman Sachs Asset Management, expanding the division's ETF offerings to over $80 billion in assets and elevating its position among active ETF managers. The acquisition underscores the rapid growth of defined outcome ETFs, with Innovator reporting over $4 billion in inflows during 2025, and aims to leverage Goldman Sachs' global distribution to broaden access to buffer strategies amid volatile markets. Post-acquisition, BFEB's investment management and service providers are expected to remain unchanged initially.