Innovator Buffer Step-Up Strategy ETF (BSTP) Performance
BSTP total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.8% since Dec 31, 2025
- 1 year
- +9.6% total return
- 3 years
- +15.4% a year
- Since first price
- +10.4% a year since 2022
BSTP trailing returns vs SPY, QQQ, AGG
| Period | BSTP total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.5% | −0.5% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.4% | +2.4% | +3.2% | +1.9% | −0.4% |
| 6 months | +5.4% | +5.4% | +7.8% | +8.4% | −1.5% |
| YTD | +7.8% | +7.8% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.6% | +9.6% | +14.4% | +15.9% | −1.1% |
| 3 years | +53.6%+15.4%/yr | +53.6% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMar 8, 2022 | +58.0%+10.4%/yr | +58.0% | — | — | — |
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: BSTP vs SPY
From Mar 8, 2022: BSTP grew to $15,800, SPY to $19,452.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
BSTP returns by calendar year
3 of 3 full years positive. Best 2023 (+18.1%), worst 2025 (+11.8%). 2026 is year to date.
BSTP annual returns table
| Year | BSTP | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.8% | −6.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.8% | −13.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +16.7% | −5.6% | +24.9% | +25.6% | +1.3% |
| 2023 | +18.1% | −7.5% | +26.2% | +54.9% | +5.7% |
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.
BSTP largest drawdowns
Now 1.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 29, 2022 | −16.7% | Oct 12, 2022 | Jul 13, 2023 | 6 months | 1.3 years |
| Feb 19, 2025 | −13.7% | Apr 8, 2025 | Jun 26, 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.
BSTP risk statistics
| Statistic | 3 years | Since 2022 |
|---|---|---|
| Annualized return | +15.0% | +9.3% |
| Volatility (annualized) | 7.9% | 10.9% |
| Sharpe ratio | 1.27 | 0.51 |
| Sortino ratio | 2.44 | 0.76 |
| Best month | +6.4% | +6.4% |
| Worst month | −3.9% | −6.9% |
| Best 12 months | +25.0% | +25.0% |
| Worst 12 months | +6.9% | −5.6% |
| Positive months | 69% | 65% |
| Beta vs S&P 500 | 0.63 | — |
| Correlation with S&P 500 | 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.
BSTP rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 44 | −5.6% | +12.8% | +25.0% | 98% |
| 3-year (a year) | 20 | +6.3% | +13.7% | +17.0% | 100% |
Every holding period starting at a month-end since 2022. Returns for 3 years and longer are annualized.
BSTP performance overview
Innovator Buffer Step-Up Strategy ETF (BSTP) returned +9.6% over the past year, with distributions reinvested. Since its first recorded price in 2022 it has returned +10.4% a year, turning $10,000 into about $15,800. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −16.7%, from Mar 29, 2022 to Oct 12, 2022, and it took 9 months to get back to the old high. BSTP finished 3 of its 3 full calendar years with a gain; the best year was 2023 (+18.1%) and the worst 2025 (+11.8%). Volatility has been 10.9% a year.
Related: BSTP chart. See the BSTP overview for the latest quote and fund facts.
BSTP performance FAQ
What is the BSTP return over the past year?
BSTP returned +9.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.6%.
How much would $10,000 invested in BSTP be worth?
$10,000 invested in BSTP at its first recorded close on March 8, 2022 would be worth about $15,800 on October 23, 2026 with distributions reinvested.
What was the worst year for BSTP?
The worst calendar year was 2025, with a total return of +11.8%. The best was 2023 at +18.1%.
What is the biggest drawdown of BSTP?
The largest peak-to-trough decline was −16.7% between March 29, 2022 and October 12, 2022. It recovered to the old high on July 13, 2023, 9 months after the bottom.
How volatile is BSTP?
Over the past 3 years BSTP had an annualized volatility of 7.9% and a Sharpe ratio of 1.27 (excess return over 1–3 month T-bills per unit of risk).