Innovator Nasdaq-100 Managed Floor ETF

QFLR

Market cap $454M

The Innovator Nasdaq-100 Managed Floor ETF offers Nasdaq-100 exposure with reduced volatility and a built-in -10% downside buffer. QFLR employs a dynamic collar strategy, buying laddered puts and selling short-dated calls to harvest volatility and finance protection. The ETF delivers nearly half the Nasdaq's volatility and a robust Sharpe ratio, lagging the index modestly but with much shallower drawdowns.

The Innovator Nasdaq-100 Managed Floor ETF (QFLR) offers downside protection via laddered puts but limits upside capture due to near-the-money call-selling strategy. Over 62% of QFLR's assets are in large-cap tech, with the rest diversified across consumer discretionary, staples, healthcare, and other sectors. QFLR's strategy effectively narrows drawdowns but struggles in volatile or rallying markets, making it less ideal for capturing Big Tech upside.

Strong earnings from Nvidia (NVDA) are boosting the market. Graham Day discusses this, as well as how the S&P 500 hits a new all-time high.