Key stats
About Innovator 20+ Year Treasury Bond 5 Floor ETF - July
Home page
www.innovatoretfs.com/etf/?ticker=tfjl/
Inception date
Aug 18, 2020
Structure
Open-Ended Fund
Replication method
Synthetic
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
Innovator Capital Management LLC
Distributor
Foreside Fund Services LLC
ISIN
US45782C2439
TFJL is one of the first fixed income ETFs to pursue a defined outcome strategy. The fund uses FLEX options in an effort to provide the price return of the iShares 20+ Year Treasury Bond ETF (TLT), up to a cap, and a maximum loss of 5% over a 3-month period. The upside cap and downside floor will fluctuate daily based on the performance of the underlying ETF. The defined outcome can only be achieved when shares of TFJL are purchased on the first day and held until the final day of trading of a specific outcome period. In the case of TFJL, the outcome period begins on the first trading day in January and resets every three months. This results in a total of 4 separate defined outcome periods per year. The issuer publishes effective interim levels, for the floor and cap, daily on its website. The defined outcome return does not include the funds expense ratio. The use of FLEX options opens investors to counterparty risk.
Related funds
Classification
What's in the fund
Exposure type
Rights & Warrants
Bonds, Cash & Other100.00%
Rights & Warrants99.87%
Cash0.13%
Top 10 holdings
Displays a symbol's price movements over previous years to identify recurring trends.
Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
TFJL assets under management is 8.60 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
TFJL invests in cash. See more details in our Analysis section.
TFJL expense ratio is 0.79%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, TFJL isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
No, TFJL doesn't pay dividends to its holders.
TFJL shares are issued by Innovator Capital Management LLC
TFJL follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Aug 18, 2020.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.