Innovator Equity Managed 100 Buffer ETF
BFRZ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 109 North Hale Street Wheaton United States of America 60187
- IPO Date
- Feb 1, 2021
- CIK
- 0001731822
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Equity Managed 100 Buffer ETF (BFRZ) is an actively managed exchange-traded fund that seeks capital appreciation through participation in U.S. large-capitalization equities while aiming to provide 100% downside protection before fees and expenses through a laddered options overlay strategy implemented by sub-adviser Parametric Portfolio Associates. The fund invests at least 80% of its net assets in equity securities representative of the Solactive GBS United States 500 Index and FLEX option contracts, including laddered put options with one-year expirations staggered quarterly and short-dated written call options to fund the puts; this structure targets approximately 40%-50% upside participation relative to the equity index, one-third the index volatility, and annual maximum losses of 1%-3%. Top holdings include large-cap stocks such as NVIDIA Corp (7.41%), Microsoft Corp (6.43%), and Apple Inc (6.40%), alongside options like SPX sold calls and SPY purchased puts, with a net expense ratio of 0.89% and approximately $77 million in assets as of recent data. Launched on May 13, 2025, and listed on NYSE Arca, BFRZ operates within the defined outcome ETF segment pioneered by issuer Innovator Capital Management, LLC, which was founded in 2017 and is headquartered in Wheaton, Illinois. Innovator Capital Management, led by co-founders Bruce Bond and John Southard—former PowerShares executives—focuses on risk-managed ETFs including its pioneering lineup of Buffer ETFs™, Dual Directional ETFs, and Autocallable Income ETFs, distributed domestically through channels serving financial advisors and institutional investors. Recent developments for Innovator include the September 2025 launch of Dual Directional ETFs DDFO and DDTO, designed for positive returns in both rising and falling markets to a threshold over one-year periods, and TOCT as an expansion of its 100% Buffer ETFs suite; additionally, in September 2025, the firm listed two new Autocallable Income ETFs (ACEI and ACII) offering monthly income from laddered autocallable structures tied to equity performance. In November 2025, Innovator further expanded its Dual Directional ETF lineup, building on category-defining innovation amid market uncertainty. While specific to BFRZ no further major changes such as acquisitions or funding rounds are noted in the past six months, the broader Innovator platform continues strategic product expansions in buffer and outcome-based strategies.