At a glance
IPDP charges 1.13% a year, above the 0.55% average of the 2 funds most like it (the most expensive of 3). It has $22.1M in assets, the 3rd largest of that group. Over the past year it returned +0.0% with distributions reinvested (S&P 500: +11.5%), the weakest of those 3 funds; over three years it returned +15.2% a year. Its ten largest positions make up 21.4% of the fund, out of 50 in all.
The short version
Dividend Performers ETF (IPDP) is an actively managed fund holding about 50 stocks with at least 10 straight years of dividend increases, screened for low downside risk. It also writes monthly S&P 500 put options, hedged with lower-strike puts, to collect extra income. That overlay sets it apart, as do its 1.13% expense ratio, against a 0.55% average for similar funds, and its small size: $22.1 million as of June 30, 2025.
Price history
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IPDP 0.0% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| IPDP price data to Oct 27, 2026 | 0.0% | 0.0% | +15.2% | — | — | +9.9% |
- Over the year to Oct 27, 2026, IPDP returned 0.0%, 3rd of 3 among similar funds.
- Its worst full calendar year was 2025 (+9.0%); its best was 2023 (+30.3%).
- The deepest fall in its price history was 31.8% (Mar 29, 2022 to Sep 30, 2022), recovered by Dec 11, 2023.
Show as a table
| Year | Price data |
|---|---|
| 2025 | +9.0% |
| 2024 | +17.7% |
| 2023 | +30.3% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Before this security existed |
Dividends and income
Show as a table
| Year | Per share | Change |
|---|---|---|
| 2025 | $0.4000 | -48.7% |
| 2024 | $0.7800 | +143.8% |
| 2023 | $0.3200 |
What's inside
As of Jun 30, 2025, the fund held 50 securities; the ten largest made up 21.4% of assets.
| Holding | Weight | |
|---|---|---|
| Amphenol Corp | 2.26% | |
| KLA Corp | 2.25% | |
| Eaton Corp PLC | 2.17% | |
| Cisco Systems Inc | 2.15% | |
| Cardinal Health Inc | 2.15% | |
| SEI Investments Co | 2.10% | |
| HNI Corp | 2.09% | |
| Lincoln Electric Holdings Inc | 2.09% | |
| ITT Inc | 2.07% | |
| QUALCOMM Inc | 2.06% | |
| Honeywell International Inc | 2.06% | |
| Ameriprise Financial Inc | 2.05% | |
| Stryker Corp | 2.04% | |
| Applied Industrial Technologie | 2.03% | |
| Watts Water Technologies Inc | 2.02% |
By country
United States 93.54%Ireland 6.03%By asset type
Stocks 99.57%By sector
Sectors of the companies held, for the 54.2% of the fund in companies that have a stock page here; other holdings and cash aren't classified. Source: N-PORT holdings report as of Jun 30, 2025. Cash, money-market funds and derivatives are shown separately from the securities list.What changed recently
- Over the three months to Jun 30, 2025, investors added a net $10K (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: -2.47%, +7.15%, +2.07%.
How it works
Rather than tracking an index, adviser Innovative Portfolios starts with Dividend Achievers (US companies that have raised dividends for 10 straight years). It favors those with the lowest “downside risk” scores, based on free cash flow, revenue stability, debt, share-price volatility and other factors. At least 80% of net assets goes into dividend payers, mostly large companies. Periodic rebalances swap out stocks whose risk rises. As of December 31, 2024, the screen had tilted the fund toward industrials, financials and health care. As of June 30, 2025, it held 50 stocks at roughly 2% each, led by Amphenol, KLA, Eaton, Cisco and Cardinal Health.
The second piece is a “credit spread” on the S&P 500, sized at about 20% of assets, sometimes more. Each month the fund writes a put option (a contract that pays its holder if the index falls below a set “strike” price) with a strike below the market, and it collects a premium for doing so. It also purchases a put with a lower strike. If the index stays above the upper strike, the fund keeps the net premium. If the index drops below the lower strike, the spread's loss tops out at the gap between the strikes, less the premium. The strategy depends on option prices usually building in more volatility than markets actually deliver. The prospectus says this is not assured.
What it really costs
- IPDP charges 1.13% a year, versus an average of 0.55% for the similar funds below (3rd of 3, cheapest first).
- Of that, 0.85% is the management fee; the rest covers other fund expenses.
- Using the prospectus's standard example, $10,000 invested would cost about $115 in the first year and $1,375 over 10 years (assuming a 5% annual return).
| Cost of $10,000 (SEC example) | 1 yr | 3 yrs | 5 yrs | 10 yrs |
|---|---|---|---|---|
| IPDP | $115 | $359 | $622 | $1,375 |
Structure and tax notes
- Generates much of its income from selling options (directly or through notes). That income is usually taxed as ordinary income rather than as qualified dividends, and the strategy gives up some upside in strong markets.
In a retirement portfolio
Its 1.13% expense ratio, options overlay and deep past drops, including a 44.54% loss in the first quarter of 2020, point to a small slice rather than a core position.
IPDP adds dividend-growth stocks plus option premium, but its downturns have been severe. Its prospectus (filed January 27, 2025) shows a 44.54% loss in the first quarter of 2020. In 2022 it fell 31.8% from March 29 to September 30 and took about 14 months to recover. Every full year from 2023 to 2025 was a gain, and 2025's 9% was the smallest. Cashing out in slumps like 2020 or 2022 meant locking in deep losses.
Income is the fund's stated goal, yet no distributions were recorded in the 12 months to October 27, 2026, so its payouts are worth confirming with the fund. Option income generally isn't taxed as qualified dividends. The 1.13% expense ratio adds up: the SEC's $10,000 example shows $115 in year one and $1,375 over 10 years. Past results don't predict the future, and a plan needs to look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors seeking companies with at least 10 years of rising dividends, picked by an adviser's downside-risk screen rather than an index.
- Those who understand options and want monthly S&P 500 put spreads, covering about 20% of assets, adding premium on top of stock dividends.
- Investors who like weights of about 2% each across 50 stocks, led by Amphenol, KLA, Eaton and Cisco as of June 30, 2025.
Look elsewhere if
- Cost-conscious investors: its 1.13% expense ratio tops similar funds KNG (0.75%) and JEPI (0.35%).
- Retirees needing dependable cash: no distributions were recorded in the 12 months to October 27, 2026, though income is the fund's main objective.
- Those wary of steep drops: its prospectus shows a 44.54% loss in the first quarter of 2020, and it fell 31.8% in 2022.
Close alternatives
Matched by closest holdings overlap from the latest N-PORT reports (no similar fund shares 20% or more of its holdings).
Net assets from each fund's latest N-PORT or annual report where available. Returns through Oct 27, 2026.Questions investors ask
Does IPDP pay monthly dividends?
No. IPDP recorded no distributions in the 12 months to October 27, 2026, so its yield over that period was 0%. That stands out because income is the fund's primary objective, with capital appreciation secondary. Its stocks pay dividends and its options strategy collects premium each month, but that doesn't guarantee regular payouts to shareholders. Anyone who relies on steady cash flow would want to check the fund's distribution history directly.
What's the difference between IPDP and KNG?
Cost, size and method. KNG, the FT Vest S&P 500 Dividend Aristocrats Target Income ETF, is IPDP's closest match by holdings, yet they share only about 15%. Both pair dividend stocks with options income. IPDP picks Dividend Achievers by downside-risk score and writes S&P 500 put spreads. IPDP charges 1.13% versus KNG's 0.75%. Over the three years to October 27, 2026, IPDP returned 15.2% a year and KNG returned 12.4%. KNG held $3.5 billion as of July 31, 2026, and IPDP held $22.1 million as of June 30, 2025.
Is IPDP a covered call ETF?
No. Rather than writing call options on its stocks, IPDP runs a put credit spread on the S&P 500, sized at about 20% of assets. Each month it writes a put with a strike below the index level and purchases a lower-strike put as a hedge. As of June 30, 2025, these were index options under the XSP ticker. This doesn't cap gains on the stocks the way covered calls do. However, the spread earns at most its net premium and can lose money in sharp declines.
What is IPDP's expense ratio?
IPDP's expense ratio, the annual fee taken from fund assets, is 1.13%, according to its prospectus filed January 27, 2025. That includes a 0.85% management fee. It is well above the 0.55% average for similar funds, and higher than KNG's 0.75% and JEPI's 0.35%. The SEC's standard example assumes $10,000 invested, a 5% yearly return and shares redeemed at the end of each period. On that basis, total costs come to $115 after one year, $359 after three, $622 after five and $1,375 after 10.
Is IPDP a low volatility ETF?
Not by its record, though its stock screen aims to limit downside risk. As of October 27, 2026, its three-year volatility, a measure of how widely returns swing, was 18.1%. It fell 31.8% from March 29 to September 30, 2022, and took about 14 months to recover. Its prospectus also lists a 44.54% loss in the first quarter of 2020, followed by a 54.69% gain the next quarter. Written put options can add to losses when markets drop sharply.