{
 "ticker": "PSEP",
 "name": "Innovator U.S. Equity Power Buffer ETF - Sep",
 "issuer": "Innovator",
 "desk": "buffer",
 "url": "https://etfiq.com/funds/psep",
 "html": "https://etfiq.com/funds/psep",
 "markdown": "https://etfiq.com/funds/psep.md",
 "as_of": "2026-09-11",
 "verdict": "As of Sep 11, 2026, PSEP's buffer is absorbing losses, with 14.6% of 15.0% points still beneath SPY.",
 "key_facts": [
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "15.1%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PSEP, can still gain: 15.1%, as of Sep 11, 2026."
  },
  {
   "key": "fall_before_the_buffer",
   "label": "Fall before the buffer",
   "value": "0.0%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PSEP, fall before the buffer: 0.0%, as of Sep 11, 2026."
  },
  {
   "key": "protection_left_index_points",
   "label": "Protection left, index points",
   "value": "14.6%",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PSEP, protection left, index points: 14.6%, as of Sep 11, 2026."
  },
  {
   "key": "days_to_reset",
   "label": "Days to reset",
   "value": "354",
   "source": null,
   "as_of": "2026-09-11",
   "sentence": "PSEP, days to reset: 354, as of Sep 11, 2026."
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$1.1bn",
   "source": "issuer page, as of Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "PSEP, net assets: $1.1bn (issuer page, as of Sep 11, 2026)."
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.79%",
   "source": "issuer page, Sep 11, 2026",
   "as_of": "2026-09-11",
   "sentence": "PSEP, expense ratio: 0.79% (issuer page, Sep 11, 2026)."
  }
 ],
 "fields": [
  {
   "key": "reference_index",
   "label": "Reference index",
   "value": "SPY",
   "source": null
  },
  {
   "key": "buffer",
   "label": "Buffer",
   "value": "15%",
   "source": null
  },
  {
   "key": "outcome_period",
   "label": "Outcome period",
   "value": "Aug 31, 2026 to Aug 31, 2027",
   "source": null
  },
  {
   "key": "starting_cap",
   "label": "Starting cap",
   "value": "+15.0%",
   "source": null
  },
  {
   "key": "spy_return_since_period_start",
   "label": "SPY return since period start",
   "value": "\u22120.4%",
   "source": null
  },
  {
   "key": "fund_return_since_period_start",
   "label": "Fund return since period start",
   "value": "\u22120.1%",
   "source": null
  },
  {
   "key": "net_assets",
   "label": "Net assets",
   "value": "$1.1bn",
   "source": "issuer page, as of Sep 11, 2026"
  },
  {
   "key": "band_state_today",
   "label": "Band state today",
   "value": "Buffer working",
   "source": "ETFIQ"
  },
  {
   "key": "can_still_gain",
   "label": "Can still gain",
   "value": "15.1%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_before_buffer",
   "label": "Fall before buffer",
   "value": "0.0%",
   "source": "issuer, fund price"
  },
  {
   "key": "fall_to_the_buffer_in_index_terms",
   "label": "Fall to the buffer in index terms",
   "value": "0.0%",
   "source": "ETFIQ"
  },
  {
   "key": "protection_left_in_index_points",
   "label": "Protection left in index points",
   "value": "14.6% of 15.0%",
   "source": "ETFIQ"
  },
  {
   "key": "days_left_in_period",
   "label": "Days left in period",
   "value": "354",
   "source": null
  },
  {
   "key": "expense_ratio",
   "label": "Expense ratio",
   "value": "0.79%",
   "source": "issuer page, Sep 11, 2026"
  }
 ],
 "periods": [
  {
   "window": "3 months",
   "Total return": "+2.3%",
   "SPY": "+3.3%",
   "Gap to SPY": "\u22121.0 pts"
  },
  {
   "window": "6 months",
   "Total return": "+8.2%",
   "SPY": "+16.0%",
   "Gap to SPY": "\u22127.8 pts"
  },
  {
   "window": "1 year",
   "Total return": "+9.7%",
   "SPY": "+17.5%",
   "Gap to SPY": "\u22127.8 pts"
  },
  {
   "window": "3 years",
   "Total return": "+41.3%",
   "SPY": "+77.9%",
   "Gap to SPY": "\u221236.6 pts"
  }
 ],
 "questions": [
  {
   "q": "How much can PSEP still gain?",
   "a": "About 15.1% from its price on Sep 11, 2026, before it reaches its cap, by the issuer's published figure. The cap for the period was set at +15.0%."
  },
  {
   "q": "How far can PSEP fall before the buffer helps?",
   "a": "0.0% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 0.0% from that level before the buffer begins. Losses until that point are the holder's."
  },
  {
   "q": "How much of the PSEP buffer is left?",
   "a": "14.6% of the 15.0% buffer sat below the SPY level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer."
  },
  {
   "q": "When does PSEP reset?",
   "a": "The outcome period ends on Aug 31, 2027, 354 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again."
  },
  {
   "q": "What does PSEP cost?",
   "a": "The prospectus expense ratio is 0.79% a year."
  }
 ],
 "generated": "2026-09-13",
 "license": "Free to use with attribution. ETFIQ (etfiq.com)."
}