Daily Report

ETF Insights - December 05, 2025

Today's analysis: 14 near entry, 4 near acceleration, 16 near cap. Total 34 signals.

Eric Cerrone

05 Dec 2025 — 33 min read

HARBORSIDE - ETF Insights - December 05, 2025

Defined Outcome ETF® Insights

December 05, 2025

Understanding Key Metrics

Cap Yield (Annualized)

The remaining upside potential converted to an annual percentage, for comparison to TBILLs.

Approaching Cap - Index Below

Limited upside potential remaining and as ETF gets closer to reset it will be very sensitive to downside moves.

Approaching Cap - Index Above

ETFs where the cap has been reached (â‰¥90%) and the index is above the cap level, providing a downside cushion.

Probability

The statistical likelihood the index will be above the ETF's cap at expiry. Calculated using Implied Volatility.

Priority Color Coding

Green Border Best entry opportunity

Yellow Border Monitor for entry

Red Border Future exit/roll alerts

127

ETFs ANALYZED

NEAR ENTRY

NEAR ACCELERATION

NEAR CAP

🎯 Near Starting Point - Prime Entry Opportunities

ETFs trading within optimal entry range centered around fee-adjusted starting levels

Qualification Criteria:
Annual Buffer ETFs®:
  • Optimal: Fund Return between -1.29% and -0.29%
    (Centered around -0.79% fee breakeven point)
  • Good: Fund Return between -2.0% to -1.30% or -0.28% to +1.0%
    (Extended downside and upside ranges)
Quarterly Buffer ETFs®:
  • Optimal: Fund Return between -0.45% and +0.05%
    (Centered around -0.20% quarterly fee breakeven point)
  • Good: Fund Return between -0.70% to -0.46% or +0.06% to +0.30%
    (Extended downside and upside ranges)
*Ranges centered around fee breakeven for optimal entry timing*

IOCT

299 Days Until Reset

Fund Return: +0.97%

Index Return: +2.61%

Remaining Cap: 11.94%

Buffer: 15%

Cap Yield: 14.6%

T-Bill: 3.6%

BNOV

330 Days Until Reset

Fund Return: +0.70%

Index Return: +0.53%

Remaining Cap: 15.99%

Buffer: 8%

Cap Yield: 17.7%

T-Bill: 3.6%

INOV

330 Days Until Reset

Fund Return: +0.55%

Index Return: +1.40%

Remaining Cap: 17.36%

Buffer: 15%

Cap Yield: 19.2%

T-Bill: 3.6%

NNOV

330 Days Until Reset

Fund Return: +0.18%

Index Return: -0.57%

Remaining Cap: 14.92%

Buffer: 14%

Cap Yield: 16.5%

T-Bill: 3.6%

PNOV

330 Days Until Reset

Fund Return: +0.68%

Index Return: +0.53%

Remaining Cap: 11.69%

Buffer: 14%

Cap Yield: 12.9%

T-Bill: 3.6%

BDEC

360 Days Until Reset

Fund Return: +0.26%

Index Return: +0.34%

Remaining Cap: 16.33%

Buffer: 8%

Cap Yield: 16.6%

T-Bill: 3.6%

IDEC

360 Days Until Reset

Fund Return: +0.44%

Index Return: +0.65%

Remaining Cap: 16.14%

Buffer: 14%

Cap Yield: 16.4%

T-Bill: 3.6%

KDEC

360 Days Until Reset

Fund Return: +0.87%

Index Return: +0.81%

Remaining Cap: 16.28%

Buffer: 14%

Cap Yield: 16.5%

T-Bill: 3.6%

NDEC

360 Days Until Reset

Fund Return: +0.49%

Index Return: +1.01%

Remaining Cap: 14.03%

Buffer: 15%

Cap Yield: 14.2%

T-Bill: 3.6%

PDEC

360 Days Until Reset

Fund Return: +0.24%

Index Return: +0.34%

Remaining Cap: 12.07%

Buffer: 14%

Cap Yield: 12.2%

T-Bill: 3.6%

🛡 100% Principal Protection

Principal-protected ETFs trading near their starting levels

Qualification Criteria:
100% Buffer ETFs® (Annual/Bi-Annual):
  • Optimal: Fund Return -1% to +0.25%
  • Good: Fund Return between +0.26% and +0.5%
100% Buffer ETFs® (6-Month):
  • Optimal: Fund Return -0.50% to +0.25%
  • Good: Fund Return between +0.26% and +0.50%
*Watch for negative fund return which allows for extra yield compensating for fund fee*

ZDEK

360 Days Until Reset

Fund Return: +0.16%

Index Return: +0.33%

Remaining Cap: 5.89%

Buffer: 99%

Cap Yield: 6.0%

T-Bill: 3.6%

ZNOV

330 Days Until Reset

Fund Return: +0.39%

Index Return: +0.53%

Remaining Cap: 5.63%

Buffer: 99%

Cap Yield: 6.2%

T-Bill: 3.6%

🔄 Dual Direction Entry - Profit From Either Direction

Dual-direction ETFs positioned for gains in rising OR falling markets

DDFN

330 Days Until Reset

Fund Return: +0.85%

Index Return: +0.52%

Remaining Cap: 8.28%

Buffer: 14%

Remaining Inverse Cap: 13.24%

Cap Yield: 9.2%

T-Bill: 3.6%

DDTN

330 Days Until Reset

Fund Return: +0.81%

Index Return: +0.53%

Remaining Cap: 12.15%

Buffer: 9%

Remaining Inverse Cap: 8.33%

Cap Yield: 13.4%

T-Bill: 3.6%

🚀 Acceleration Zone - Enhanced Returns Available

ETFs with accelerated participation (2x or 3x) in positive index moves

Qualification Criteria:
Near Starting Point (Entry Signal):
• Fund Return between -1.5% and +0.5%
• Provides 2x or 3x acceleration on positive moves
Near Threshold (Monitor Signal):
• Index from (threshold - 1%) up to 85% of maximum cap
• Enhanced returns active - approaching cap trigger
Near Cap (Exit Signal):
• Index ≥ 85% of maximum cap
• Maximum cap likely to be achieved at reset
*Leveraged participation with no downside buffer protection*

NEAR START

NEAR THRESHOLD

NEAR CAP

NEAR THRESHOLD

ETFs within 1% of acceleration threshold - enhanced returns activating

Threshold: 4.20%

XDQQ

26 Days Until Reset

Fund Return: +4.99% | Index Return: +4.18%

Remaining Cap: 3.05%

Cap Yield: 42.8% | T-Bill: 3.85%

XDQQ Detailed Analysis

26 Days Remaining

Until Outcome Period Reset

View XDQQ on Innovator ETFs →

+4.99%

FUND RETURN

+4.18%

INDEX RETURN

NONE

DOWNSIDE
BEFORE BUFFER

3.05%*

REMAINING
CAP

0.00%

Buffer Level

42.82%

Cap Yield

3.85%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XDQQ is at +4.99% with 26 days remaining. Entry Score: 4/10 - MODERATE RISK/REWARD. The underlying index (+4.18%) is 0.02% below the 4.20% acceleration threshold. The index needs to climb 0.02% to reach the threshold for maximum cap. Current probability**: ~30%.

📈 UPSIDE SCENARIO

This accelerated ETF offers a maximum cap of 8.40% if the index finishes above the 4.20% threshold. The index needs to rise 0.02% to reach the threshold. Current probability** of max cap: ~30%. This represents 42.82% annualized yield (11.1x T-Bills). With only 26 days remaining, the outcome will be determined soon.

🛡 DOWNSIDE PROTECTION

XDQQ is an accelerated ETF without downside buffer protection. Currently below the threshold, the ETF will track the index return at reset unless the index recovers above 4.20%.

*Note: All values shown are after-fee (net) values as reported by the fund. The remaining cap and downside values reflect the actual position after accounting for management expenses.

** Based on calculations from current implied volatility.

Threshold: 3.26%

XDSQ

26 Days Until Reset

Fund Return: +3.67% | Index Return: +2.93%

Remaining Cap: 2.55%

Cap Yield: 35.8% | T-Bill: 3.85%

XDSQ Detailed Analysis

26 Days Remaining

Until Outcome Period Reset

View XDSQ on Innovator ETFs →

+3.67%

FUND RETURN

+2.93%

INDEX RETURN

NONE

DOWNSIDE
BEFORE BUFFER

2.55%*

REMAINING
CAP

0.00%

Buffer Level

35.80%

Cap Yield

3.85%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XDSQ is at +3.67% with 26 days remaining. Entry Score: 4/10 - MODERATE RISK/REWARD. The underlying index (+2.93%) is 0.33% below the 3.26% acceleration threshold. The index needs to climb 0.33% to reach the threshold for maximum cap. Current probability**: ~30%.

📈 UPSIDE SCENARIO

This accelerated ETF offers a maximum cap of 6.52% if the index finishes above the 3.26% threshold. The index needs to rise 0.33% to reach the threshold. Current probability** of max cap: ~30%. This represents 35.80% annualized yield (9.3x T-Bills). With only 26 days remaining, the outcome will be determined soon.

🛡 DOWNSIDE PROTECTION

XDSQ is an accelerated ETF without downside buffer protection. Currently below the threshold, the ETF will track the index return at reset unless the index recovers above 3.26%.

*Note: All values shown are after-fee (net) values as reported by the fund. The remaining cap and downside values reflect the actual position after accounting for management expenses.

** Based on calculations from current implied volatility.

Threshold: 6.33%

QTJL

207 Days Until Reset

Fund Return: +9.44% | Index Return: +13.39%

Remaining Cap: 7.93%

Cap Yield: 14.0% | T-Bill: 3.72%

QTJL Detailed Analysis

207 Days Remaining

Until Outcome Period Reset

View QTJL on Innovator ETFs →

+9.44%

FUND RETURN

+13.39%

INDEX RETURN

NONE

DOWNSIDE
BEFORE BUFFER

7.93%*

REMAINING
CAP

0.00%

Buffer Level

13.98%

Cap Yield

3.72%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, QTJL is at +9.44% with 207 days remaining. Entry Score: 6/10 - FAVORABLE RISK/REWARD. The underlying index (+13.39%) is 7.06% above the 6.33% acceleration threshold. The 7.06% buffer above threshold gives ~35% probability** of max cap.

📈 UPSIDE SCENARIO

This accelerated ETF offers a maximum cap of 18.99% if the index finishes above the 6.33% threshold. With the index currently 7.06% above threshold, there's ~35% probability** of achieving the full 18.99% return. This represents 13.98% annualized yield (3.8x T-Bills). The 6.8-month timeframe provides opportunity for market movement.

🛡 DOWNSIDE PROTECTION

QTJL is an accelerated ETF without downside buffer protection. If the index falls below the 6.33% threshold (7.06% from current), the ETF participates 1 to 1 on the downside.

*Note: All values shown are after-fee (net) values as reported by the fund. The remaining cap and downside values reflect the actual position after accounting for management expenses.

** Based on calculations from current implied volatility.

Threshold: 5.05%

XTJL

207 Days Until Reset

Fund Return: +7.42% | Index Return: +10.99%

Remaining Cap: 6.40%

Cap Yield: 11.3% | T-Bill: 3.72%

XTJL Detailed Analysis

207 Days Remaining

Until Outcome Period Reset

View XTJL on Innovator ETFs →

+7.42%

FUND RETURN

+10.99%

INDEX RETURN

NONE

DOWNSIDE
BEFORE BUFFER

6.40%*

REMAINING
CAP

0.00%

Buffer Level

11.29%

Cap Yield

3.72%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XTJL is at +7.42% with 207 days remaining. Entry Score: 6/10 - FAVORABLE RISK/REWARD. The underlying index (+10.99%) is 5.94% above the 5.05% acceleration threshold. The 5.94% buffer above threshold gives ~35% probability** of max cap.

📈 UPSIDE SCENARIO

This accelerated ETF offers a maximum cap of 15.15% if the index finishes above the 5.05% threshold. With the index currently 5.94% above threshold, there's ~35% probability** of achieving the full 15.15% return. This represents 11.29% annualized yield (3.0x T-Bills). The 6.8-month timeframe provides opportunity for market movement.

🛡 DOWNSIDE PROTECTION

XTJL is an accelerated ETF without downside buffer protection. If the index falls below the 5.05% threshold (5.94% from current), the ETF participates 1 to 1 on the downside.

*Note: All values shown are after-fee (net) values as reported by the fund. The remaining cap and downside values reflect the actual position after accounting for management expenses.

** Based on calculations from current implied volatility.

NEAR MAXIMUM CAP

ETFs approaching maximum cap - consider profit-taking strategies

QTJA

26 Days Until Reset

Fund Return: +18.18%

Index Return: +22.35%

Remaining Cap: 0.28%

Buffer: 0%

Cap Yield: 3.9%

T-Bill: 3.9%

XBJA

26 Days Until Reset

Fund Return: +10.61%

Index Return: +17.00%

Remaining Cap: 0.20%

Buffer: 12%

Cap Yield: 2.8%

T-Bill: 3.9%

XTJA

26 Days Until Reset

Fund Return: +13.42%

Index Return: +17.00%

Remaining Cap: 0.28%

Buffer: 0%

Cap Yield: 3.9%

T-Bill: 3.9%

QTAP

116 Days Until Reset

Fund Return: +17.64%

Index Return: +33.39%

Remaining Cap: 2.19%

Buffer: 0%

Cap Yield: 6.9%

T-Bill: 3.8%

XBAP

116 Days Until Reset

Fund Return: +9.84%

Index Return: +22.58%

Remaining Cap: 1.88%

Buffer: 16%

Cap Yield: 5.9%

T-Bill: 3.8%

XTAP

116 Days Until Reset

Fund Return: +13.21%

Index Return: +22.58%

Remaining Cap: 2.24%

Buffer: 0%

Cap Yield: 7.0%

T-Bill: 3.8%

XBJL

207 Days Until Reset

Fund Return: +5.67%

Index Return: +10.98%

Remaining Cap: 5.08%

Buffer: 12%

Cap Yield: 9.0%

T-Bill: 3.7%

📈 Approaching Cap - Index Is Above Cap

ETF is Nearing the Max Return but Index exceeded Cap

AJAN

26 Days Until Reset

Fund Return: +14.09%

Index Return: +44.26%

Remaining Cap: 0.00%

Buffer: 86%

Cap Yield: 0.0%

T-Bill: 3.9%

BJAN

26 Days Until Reset

Fund Return: +13.53%

Index Return: +16.99%

Remaining Cap: 0.96%

Buffer: 10%

Cap Yield: 13.5%

T-Bill: 3.9%

EJAN

26 Days Until Reset

Fund Return: +14.08%

Index Return: +30.89%

Remaining Cap: 0.18%

Buffer: 22%

Cap Yield: 2.5%

T-Bill: 3.9%

IJAN

26 Days Until Reset

Fund Return: +18.77%

Index Return: +26.72%

Remaining Cap: 0.39%

Buffer: 16%

Cap Yield: 5.5%

T-Bill: 3.9%

NJAN

26 Days Until Reset

Fund Return: +13.49%

Index Return: +22.35%

Remaining Cap: 0.54%

Buffer: 18%

Cap Yield: 7.6%

T-Bill: 3.9%

PJAN

26 Days Until Reset

Fund Return: +10.64%

Index Return: +17.00%

Remaining Cap: 0.46%

Buffer: 17%

Cap Yield: 6.5%

T-Bill: 3.9%

UJAN

26 Days Until Reset

Fund Return: +10.44%

Index Return: +17.00%

Remaining Cap: 0.45%

Buffer: 30%

Cap Yield: 6.3%

T-Bill: 3.9%

ZJAN

26 Days Until Reset

Fund Return: +6.43%

Index Return: +16.99%

Remaining Cap: 0.24%

Buffer: 93%

Cap Yield: 3.4%

T-Bill: 3.9%

IFEB

57 Days Until Reset

Fund Return: +14.30%

Index Return: +20.91%

Remaining Cap: 1.48%

Buffer: 16%

Cap Yield: 9.5%

T-Bill: 3.8%

Important Disclosures

This material is for informational purposes only and does not constitute investment advice. Defined Outcome ETFs® involve significant risks including the potential loss of principal. Past performance does not guarantee future results.

Innovator ETFs® Specific Disclosures are available at Innovatoretfs.com

For complete terms and conditions, visit: harborside.capital/disclaimer

OCC Options Risk Disclosure

Options Risk Disclosure: Options involve risk and are not suitable for all investors. Prior to buying or selling an option, a person must receive a copy of "Characteristics and Risks of Standardized Options" available at theocc.com.

Please read the full disclaimer and risk disclosure document before making any investment decisions. Consult with a qualified financial advisor regarding your specific investment objectives and risk tolerance.

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ETF Insights - December 05, 2025

Eric Cerrone

Defined Outcome ETF® Insights

Understanding Key Metrics

🎯 Near Starting Point - Prime Entry Opportunities

🛡 100% Principal Protection

🔄 Dual Direction Entry - Profit From Either Direction

🚀 Acceleration Zone - Enhanced Returns Available

NEAR THRESHOLD

NEAR MAXIMUM CAP

📈 Approaching Cap - Index Is Above Cap

Important Disclosures

Read more

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ETF Insights - January 15, 2026

Defined Outcome ETF® Insights

Understanding Key Metrics

🎯 Near Starting Point - Prime Entry Opportunities

IOCT Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

BNOV Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

INOV Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

NNOV Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

PNOV Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

BDEC Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

IDEC Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

KDEC Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

NDEC Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

PDEC Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

🛡 100% Principal Protection

ZDEK Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

ZNOV Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

🔄 Dual Direction Entry - Profit From Either Direction

DDFN Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

DDTN Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

🚀 Acceleration Zone - Enhanced Returns Available

NEAR THRESHOLD

XDQQ Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

XDSQ Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

QTJL Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

XTJL Detailed Analysis

📋 POSITION SNAPSHOT

📈 UPSIDE SCENARIO

🛡 DOWNSIDE PROTECTION

NEAR MAXIMUM CAP