Investment Objective: |
The Innovator S&P 500 Buffer ETF seeks to track the return of the S&P 500 Price Return Index, up to a predetermined cap, while buffering investors against the first 9% of losses over the outcome period. The ETF can be held indefinitely, resetting at the end of each outcome period, approximately annually. The Fund invests at least 80% of its net assets in FLexible EXchange Options ( FLEX Options ) that reference the S&P 500 Price Return Index ( S&P 500 Price Index ). FLEX Options are exchange-traded options contracts with uniquely customizable terms. Although guaranteed for settlement by the Options Clearing Corporation (the OCC ), FLEX Options are still subject to counterparty risk with the OCC and may be less liquid than more traditional exchange-traded options. Due to the unique mechanics of the Fund s strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. It is important that an investor understand these characteristics before making an investment in the Fund. |