Innovator S&P 500 Buffer ETF - December (BDEC) Performance
BDEC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.9% since Dec 31, 2025
- 1 year
- +12.7% total return
- 5 years
- +9.9% a year
- Since first price
- +11.2% a year since 2019
BDEC trailing returns vs SPY, QQQ, AGG
| Period | BDEC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.6% | −0.6% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.9% | +2.9% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.5% | +6.5% | +7.8% | +8.4% | −1.5% |
| YTD | +9.9% | +9.9% | +12.3% | +15.1% | −1.0% |
| 1 year | +12.7% | +12.7% | +14.4% | +15.9% | −1.1% |
| 3 years | +58.0%+16.5%/yr | +58.0% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +60.3%+9.9%/yr | +60.3% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionDec 2, 2019 | +107.3%+11.2%/yr | +107.3% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: BDEC vs SPY
From Dec 2, 2019: BDEC grew to $20,727, SPY to $26,952.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BDEC returns by calendar year
5 of 6 full years positive. Best 2023 (+19.9%), worst 2022 (−9.4%). 2026 is year to date.
BDEC annual returns table
| Year | BDEC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.9% | −6.5% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.0% | −13.9% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.7% | −4.1% | +24.9% | +25.6% | +1.3% |
| 2023 | +19.9% | −9.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.4% | −16.4% | −18.2% | −32.6% | −13.0% |
| 2021 | +15.5% | −2.6% | +28.7% | +27.4% | −1.8% |
| 2020 | +13.4% | −25.6% | +18.3% | +48.6% | +7.5% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
BDEC largest drawdowns
Now 1.9% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −25.6% | Mar 23, 2020 | Aug 6, 2020 | 33 days | 6 months |
| Jan 4, 2022 | −16.4% | Oct 12, 2022 | Jun 12, 2023 | 9 months | 1.4 years |
| Feb 19, 2025 | −13.9% | Apr 8, 2025 | Jun 24, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
BDEC risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +16.0% | +10.3% | +11.1% |
| Volatility (annualized) | 8.7% | 11.3% | 11.9% |
| Sharpe ratio | 1.26 | 0.61 | 0.72 |
| Sortino ratio | 2.68 | 0.97 | 1.15 |
| Best month | +8.4% | +8.4% | +9.0% |
| Worst month | −3.9% | −6.8% | −8.3% |
| Best 12 months | +26.4% | +26.4% | +37.7% |
| Worst 12 months | +3.1% | −11.7% | −11.7% |
| Positive months | 75% | 68% | 69% |
| Beta vs S&P 500 | 0.67 | 0.70 | — |
| Correlation with S&P 500 | 0.95 | 0.97 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
BDEC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 71 | −11.7% | +13.7% | +37.7% | 83% |
| 3-year (a year) | 47 | +5.8% | +9.4% | +17.5% | 100% |
| 5-year (a year) | 23 | +8.5% | +10.3% | +12.6% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
BDEC performance overview
Innovator S&P 500 Buffer ETF - December (BDEC) returned +12.7% over the past year and +9.9% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +11.2% a year, turning $10,000 into about $20,727. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −25.6%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. BDEC finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+19.9%) and the worst 2022 (−9.4%). Volatility has been 11.9% a year.
Related: BDEC chart. See the BDEC overview for the latest quote and fund facts.
BDEC performance FAQ
What is the BDEC return over the past year?
BDEC returned +12.7% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 12.7%.
What is the average annual return of BDEC?
BDEC has returned +9.9% a year over 5 years, +11.2% a year since December 2, 2019 (total return, distributions reinvested).
How much would $10,000 invested in BDEC be worth?
$10,000 invested in BDEC at its first recorded close on December 2, 2019 would be worth about $20,727 on October 23, 2026 with distributions reinvested.
What was the worst year for BDEC?
The worst calendar year was 2022, with a total return of −9.4%. The best was 2023 at +19.9%.
What is the biggest drawdown of BDEC?
The largest peak-to-trough decline was −25.6% between February 19, 2020 and March 23, 2020. It recovered to the old high on August 6, 2020, 4 months after the bottom.
How volatile is BDEC?
Over the past 3 years BDEC had an annualized volatility of 8.7% and a Sharpe ratio of 1.26 (excess return over 1–3 month T-bills per unit of risk).