Innovator IBD ETF Leaders ETF
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- Innovator IBD ETF Leaders ETF (LDRS) is an exchange-traded fund that seeks to track the performance, before fees and expenses, of the Innovator IBD ETF Leaders Index, an equal-weighted index of U.S.-traded ETFs selected using Investor's Business Daily's proprietary relative strength ratings across equities, fixed income, and alternative asset classes; it excludes commodity, leveraged, and inverse ETFs, focusing on those demonstrating market-leading performance. The fund invests at least 80% of its net assets in the exchange-traded funds comprising the index, which is reconstituted and rebalanced monthly to capture top performers based on objective criteria such as returns exceeding the S&P 500 over prior periods and sufficient trading volume. Launched on December 21, 2017, by Innovator Capital Management, LLC, headquartered in Wheaton, Illinois, with sub-adviser Penserra Capital Management, LLC, LDRS targets investors seeking dynamic, rules-based global asset allocation for potential alpha generation over broad market benchmarks. Assets under management stand at approximately $8.5 million, with a net expense ratio of 1.16% and a yield of 0.07%, operating primarily in U.S. markets through its underlying ETF holdings spanning global regions and various customer types including individual investors and financial advisors. In a significant recent development, the fund ceased trading at the close of the market on August 13, 2021, with full liquidation occurring on August 20, 2021, marking a major operational closure and delisting from NYSE Arca; despite some data platforms showing residual or historical pricing as of 2025, no active trading or relaunch has occurred. On the issuer side, Innovator Capital Management was acquired by Goldman Sachs Group Inc. for $2 billion in a deal announced December 1, 2025, bolstering its position in structured outcome ETFs amid growth to over $28 billion in assets under supervision across 150+ funds, though this does not impact the defunct LDRS product.