Innovator S&P 500 Buffer ETF - September (BSEP) Performance
BSEP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +9.5% since Dec 31, 2025
- 1 year
- +11.3% total return
- 5 years
- +10.7% a year
- Since first price
- +11.9% a year since 2019
BSEP trailing returns vs SPY, QQQ, AGG
| Period | BSEP 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 | +2.3% | +2.3% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.1% | +6.1% | +7.8% | +8.4% | −1.5% |
| YTD | +9.5% | +9.5% | +12.3% | +15.1% | −1.0% |
| 1 year | +11.3% | +11.3% | +14.4% | +15.9% | −1.1% |
| 3 years | +62.4%+17.5%/yr | +62.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +66.2%+10.7%/yr | +66.2% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionSep 3, 2019 | +123.2%+11.9%/yr | +120.1% | — | — | — |
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: BSEP vs SPY
From Sep 3, 2019: BSEP grew to $22,322, SPY to $29,023.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BSEP returns by calendar year
5 of 6 full years positive. Best 2023 (+20.9%), worst 2022 (−9.2%). 2026 is year to date.
BSEP annual returns table
| Year | BSEP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +9.5% | −5.7% | +12.3% | +15.1% | −1.0% |
| 2025 | +14.8% | −13.4% | +17.7% | +20.8% | +7.2% |
| 2024 | +17.0% | −3.9% | +24.9% | +25.6% | +1.3% |
| 2023 | +20.9% | −8.0% | +26.2% | +54.9% | +5.7% |
| 2022 | −9.2% | −15.0% | −18.2% | −32.6% | −13.0% |
| 2021 | +14.6% | −3.5% | +28.7% | +27.4% | −1.8% |
| 2020 | +12.4% | −24.0% | +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.
BSEP largest drawdowns
Now 1.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2020 | −24.0% | Mar 23, 2020 | Jul 20, 2020 | 33 days | 5 months |
| Jan 4, 2022 | −15.0% | Jun 16, 2022 | Jun 12, 2023 | 5 months | 1.4 years |
| Feb 19, 2025 | −13.4% | 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.
BSEP risk statistics
| Statistic | 3 years | 5 years | Since 2019 |
|---|---|---|---|
| Annualized return | +17.0% | +11.6% | +11.9% |
| Volatility (annualized) | 8.2% | 11.0% | 11.4% |
| Sharpe ratio | 1.44 | 0.73 | 0.82 |
| Sortino ratio | 3.04 | 1.18 | 1.32 |
| Best month | +7.1% | +7.1% | +8.1% |
| Worst month | −3.8% | −7.1% | −8.1% |
| Best 12 months | +26.6% | +26.6% | +35.0% |
| Worst 12 months | +6.3% | −9.2% | −9.2% |
| Positive months | 72% | 65% | 68% |
| Beta vs S&P 500 | 0.65 | 0.69 | — |
| Correlation with S&P 500 | 0.98 | 0.99 | — |
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.
BSEP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 74 | −9.2% | +14.0% | +35.0% | 84% |
| 3-year (a year) | 50 | +5.2% | +10.1% | +19.1% | 100% |
| 5-year (a year) | 26 | +9.5% | +11.3% | +13.1% | 100% |
Every holding period starting at a month-end since 2019. Returns for 3 years and longer are annualized.
BSEP performance overview
Innovator S&P 500 Buffer ETF - September (BSEP) returned +11.3% over the past year and +10.7% a year over five years, with distributions reinvested. Since its first recorded price in 2019 it has returned +11.9% a year, turning $10,000 into about $22,322. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −24.0%, from Feb 19, 2020 to Mar 23, 2020, and it took 4 months to get back to the old high. BSEP finished 5 of its 6 full calendar years with a gain; the best year was 2023 (+20.9%) and the worst 2022 (−9.2%). Volatility has been 11.4% a year.
Related: BSEP chart, BSEP holdings, BSEP valuation. See the BSEP overview for the latest quote and fund facts.
BSEP performance FAQ
What is the BSEP return over the past year?
BSEP returned +11.3% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 11.3%.
What is the average annual return of BSEP?
BSEP has returned +10.7% a year over 5 years, +11.9% a year since September 3, 2019 (total return, distributions reinvested).
How much would $10,000 invested in BSEP be worth?
$10,000 invested in BSEP at its first recorded close on September 3, 2019 would be worth about $22,322 on October 23, 2026 with distributions reinvested.
What was the worst year for BSEP?
The worst calendar year was 2022, with a total return of −9.2%. The best was 2023 at +20.9%.
What is the biggest drawdown of BSEP?
The largest peak-to-trough decline was −24.0% between February 19, 2020 and March 23, 2020. It recovered to the old high on July 20, 2020, 4 months after the bottom.
How volatile is BSEP?
Over the past 3 years BSEP had an annualized volatility of 8.2% and a Sharpe ratio of 1.44 (excess return over 1–3 month T-bills per unit of risk).