- Pays: monthly.
- First paid: shortly after its September 24, 2025 launch — every payment since is charted below.
- What it is: laddered autocallable swaps with worst-of exposure to SPY, QQQ, and IWM — each coupon depends on the weakest of the three staying above its barrier.
- Recent numbers: ~9.4% dividend yield, average coupon ~10.8%, 0.79% expense ratio, ~$126M in assets (issuer figures, August 2026).
- The distinctive mechanic: "worst-of" pricing pays more than any single-index autocallable would — because three barriers give the market three ways to stop the coupon.
Worst-of structures are the classic structured-note trade: richer coupons in exchange for needing ALL of the S&P 500, Nasdaq-100, and Russell 2000 to behave. The Russell is usually the weakest link — small caps fall hardest in risk-off markets.
ACII pays monthly. Each point below is one distribution since the fund launched in September 2025.
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Each point is one payment; the line ends at the most recent payout. The table below totals them by year.
| Recent Ex-Dividend Dates | Distribution / Share |
|---|
"Next expected" is estimated from ACII's recent payment rhythm — the fund announces exact dates shortly before each payout, and the data feed can lag a few days. You must own shares before the ex-dividend date to receive that payout; the cash typically arrives days later. See every fund's upcoming date on the live dividend calendar.
A real total-return estimate, assuming every payout was reinvested — including what happened to the share price. Before taxes and fees. Past performance does not predict the future.
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"Worst-of" means each autocallable position watches three indexes at once — the S&P 500, the Nasdaq-100, and the Russell 2000 — and its fate rides on whichever performs worst. Coupon paid? Only if the weakest index is above its barrier. That's harder to achieve than one index behaving, so the market pays extra for it. It's the most popular trick in bank structured notes, now in a ticker.
In practice the Russell 2000 is usually the weakest link. When small caps sell off hard, ACII's coupons are the first in the category at risk — that's the honest reading of the machine. Compare ACEI (Innovator's single-stock flavor) and CAIE (single-index, the category's giant). Full mechanics in the explainer.
| Year | Total Distributions / Share | Payments | Change vs Prior Year |
|---|
Data source: Yahoo Finance. Figures are per share; the current year may be partial and figures should be verified against official sources.
Calculated from complete calendar years in the data above. Past results don't guarantee future payments.
When Is ACII's Next Ex-Dividend Date?
ACII pays monthly. The exact date of each payout is announced by the fund only shortly beforehand, so no site can promise the next date — but the live schedule box above shows the most recent ex-dividend date and the expected window for the next one, computed from ACII's actual payment rhythm. Remember: you must own shares before the ex-dividend date to receive that payout.
ACII's Record So Far
ACII — the Innovator Index Autocallable Income Strategy ETF — launched September 24, 2025 alongside its single-stock sibling ACEI, and has paid monthly since. Its checks have been remarkably consistent — recently around $0.19-0.20 a share, gently rising — the signature of a laddered book in weather that never tested it.
Three Barriers, One Check
The worst-of structure is why ACII exists: it manufactures more yield from the same indexes by accepting a compound condition. Each month the ladder's positions check the S&P 500, the Nasdaq-100, and the Russell 2000; the weakest of the three decides whether coupons flow. Diversification usually softens risk — worst-of inverts that, turning three markets into three tripwires. The compensation is a coupon richer than any single-index autocallable pays.
Where ACII Fits
As the only worst-of fund in the category with a public payment record, ACII is the natural stress gauge: if its checks ever stumble while CAIE's hold, the weakest index broke ranks. The August 2026 wave (MPDY, ACSP and siblings) brought single-index competitors with no history yet — the explainer maps the whole field.
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Coupon barriers, worst-of baskets, autocall dates — the whole machine in plain English.
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