TFJL ETF Analysis: Dividends, Returns BOATS:TFJL

Key stats

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.

Classification

Returns

	1 month	3 months	Year to date	1 year	3 years	5 years
Price performance	—	—	—	—	—	—
NAV total return	—	—	—	—	—	—

What's in the fund

As of October 31, 2025

Exposure type

Rights & Warrants

Bonds, Cash & Other100.00%

Rights & Warrants99.94%

Cash0.06%

Top 10 holdings

Dividends

Dividend payout history

Assets under management (AUM)

Fund Flows

No, TFJL doesn't pay dividends to its holders.

TFJL shares are issued by Innovator Capital Management LLC under the brand Innovator. The ETF was launched on Aug 18, 2020, and its management style is Active.

TFJL expense ratio is 0.79% meaning you'd have to pay 0.79% of your investment to help manage the fund.

TFJL follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.

TFJL invests in cash.

Innovator 20+ Year Treasury Bond 5 Floor ETF - July