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- Upturn Summary
- Fund Details
Upturn AI Summary
Innovator Equity Managed 100 Buffer ETF(BFRZ)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for BFRZ
10/14/2026: BFRZ (1-star) has a low Upturn Star Rating. Not recommended to BUY.
BFRZ provides retail investors with a unique, defined-outcome exposure to the S&P 500 that protects against 100% of losses up to a cap. By utilizing FLEX options, it effectively trades off unlimited upside potential for a reliable downside floor, making it an excellent tool for capital preservation. While the fund is a leader in its niche, it carries a higher expense ratio than passive alternatives and requires a disciplined commitment to the annual outcome cycle. Investors should carefully monitor the cap level at the start of each period and understand that this fund is best suited for those prioritizing risk mitigation over aggressive growth.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | The capped upside limits the potential for significant capital appreciation compared to a direct equity investment. |
| Momentum investor | Weak fit | The defined structure is designed for risk mitigation, not for capturing high-velocity market trends. |
| Value investor | Mixed fit | Value investors might appreciate the downside protection if they are concerned about market overvaluation. |
| Dividend/Income investor | Weak fit | The fund does not focus on generating income through dividends, as the strategy is centered on price return outcomes. |
| Low-risk investor | Strong fit | The 100% downside buffer is an excellent tool for investors seeking equity market exposure while eliminating the risk of capital loss. |
Investor Profile
Ideal Investor Profile
The ideal investor is a conservative or risk-averse individual, particularly those in or near retirement who cannot afford significant capital drawdowns.
Suitability
Best for long-term investors who commit to the full outcome period; not suited for active, short-term traders.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Low | The buffer structure inherently dampens the impact of market volatility on the investor's principal. |
| Market risk | Medium | While protected against 100% of losses, investors still face the opportunity cost of capped upside in bull markets. |
| Concentration | Medium | The fund is concentrated in S&P 500 derivatives, meaning performance is entirely dependent on that index. |
| Tracking/expense | Medium | The relatively high expense ratio compared to passive ETFs acts as a drag on performance. |
| Liquidity | Medium | Thinly traded options can lead to wider spreads and higher transaction costs for short-term traders. |
| Business/sector quality | Low | The risk is primarily structural/derivative-based rather than related to the credit quality of the underlying assets. |
Risk Analysis
Volatility
BFRZ is designed to exhibit significantly lower realized volatility than the S&P 500, especially during periods of market stress.
Market Risk
The primary risk is the loss of potential gains during bull markets, rather than downside principal risk, thanks to the 100% buffer.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | U.S. Treasury Bills | 95 | These holdings provide the collateral and yield base to finance the options strategy. |
| Derivatives | FLEX Options on S&P 500 | 5 | These option contracts define the specific cap on gains and the 100% protection against losses. |
Price Behavior
Flat / Range-Bound
The stock price has been trading within a narrow range with minimal directional movement.
Very Smooth
The stock has followed a highly orderly price path with minimal short-term disruption.
Analysis of Past Performance
Type ETF | Historic Profit -2.33% | Avg. Invested days 28 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/14/2026 |
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