Innovator Defined Outcome ETFs: Product Table
Defined Outcome Product Table
As of 9/18/2020
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Diff ¹
Index Return
to Cap ²
bsepS&P 500 Buffer ETFSeptemberSPXB$26.55-3.48%-4.94%1.46%24.03%22.10%7.83%0.00%347 days Prospectus bsep
psepS&P 500 Power Buffer ETFSeptemberSPXP$26.13-2.19%-4.94%2.75%17.56%14.21%12.78%0.00%347 days Prospectus psep
usepS&P 500 Ultra Buffer ETFSeptemberSPXU$25.85-1.58%-4.96%3.38%13.76%9.81%28.10%-3.51%347 days Prospectus usep
baugS&P 500 Buffer ETFAugustSPXB$27.560.93%1.70%-0.77%14.75%15.50%9.49%-1.03%316 days Prospectus baug
paugS&P 500 Power Buffer ETFAugustSPXP$26.890.62%1.70%-1.08%9.01%10.07%15.70%-0.72%316 days Prospectus paug
uaugS&P 500 Ultra Buffer ETFAugustSPXU$26.960.21%1.70%-1.50%5.36%6.82%30.79%-5.30%316 days Prospectus uaug
tbjl20+ Year Treasury Bond 9 Buffer ETFJulyTLTB$24.900.12%-0.12%0.24%9.38%9.04%8.70%-0.19%285 days Prospectus tbjl
tfjl20+ Year Treasury Bond 5 Floor ETFJulyTLTF$24.84-0.12%-0.12%0.00%6.87%6.80%95.05%-4.95%285 days Prospectus tfjl
njulNasdaq-100 Power Buffer ETFJulyNDXP$41.943.19%7.82%-4.63%5.96%10.53%17.90%-3.26%285 days Prospectus njul
kjulRussell 2000 Power Buffer ETFJulyRUTP$24.054.23%6.68%-2.45%8.84%11.21%16.10%-4.23%285 days Prospectus kjul
ejulMSCI EM Power Buffer ETFJulyMXEFP$25.472.32%11.45%-9.14%-2.59%5.91%21.28%-2.46%285 days Prospectus ejul
ijulMSCI EAFE Power Buffer ETFJulyMXEAP$23.202.43%6.89%-4.46%1.76%5.99%17.92%-2.56%285 days Prospectus ijul
bjulS&P 500 Buffer ETFJulySPXB$28.144.28%7.31%-3.03%9.12%12.09%10.92%-4.28%285 days Prospectus bjul
pjulS&P 500 Power Buffer ETFJulySPXP$27.533.02%7.31%-4.30%3.95%8.10%17.69%-3.10%285 days Prospectus pjul
ujulS&P 500 Ultra Buffer ETFJulySPXU$25.711.53%7.31%-5.78%-0.26%5.23%32.82%-6.60%285 days Prospectus ujul
bjunS&P 500 Buffer ETFJuneSPXB$29.305.29%9.29%-4.01%6.55%10.34%11.48%-5.26%255 days Prospectus bjun
pjunS&P 500 Power Buffer ETFJuneSPXP$28.903.82%9.29%-5.47%1.83%6.95%18.31%-3.92%255 days Prospectus pjun
ujunS&P 500 Ultra Buffer ETFJuneSPXU$27.191.92%9.29%-7.37%-1.87%4.98%33.50%-7.03%255 days Prospectus ujun
bmayS&P 500 Buffer ETFMaySPXB$27.979.13%14.29%-5.16%4.56%9.17%11.70%-8.67%224 days Prospectus bmay
pmayS&P 500 Power Buffer ETFMaySPXP$27.336.61%14.29%-7.67%-0.67%6.15%19.12%-6.51%224 days Prospectus pmay
umayS&P 500 Ultra Buffer ETFMaySPXU$26.623.84%14.29%-10.45%-5.00%4.23%34.30%-8.82%224 days Prospectus umay
naprNasdaq-100 Power Buffer ETFAprilNDXP$34.6910.94%40.16%-29.22%-17.91%3.33%29.12%-10.23%194 days Prospectus napr
kaprRussell 2000 Power Buffer ETFAprilRUTP$25.9812.71%33.47%-20.76%-11.63%4.26%24.67%-11.65%194 days Prospectus kapr
baprS&P 500 Buffer ETFAprilSPXB$28.4914.97%28.73%-13.75%-5.23%5.72%15.91%-13.39%194 days Prospectus bapr
paprS&P 500 Power Buffer ETFAprilSPXP$26.5310.44%28.73%-18.29%-10.35%4.11%24.15%-9.82%194 days Prospectus papr
uaprS&P 500 Ultra Buffer ETFAprilSPXU$24.516.52%28.73%-22.21%-14.70%2.70%38.32%-11.18%194 days Prospectus uapr
bmarS&P 500 Buffer ETFMarchSPXB$28.017.69%12.62%-4.93%3.13%7.37%11.62%-7.58%163 days Prospectus bmar
pmarS&P 500 Power Buffer ETFMarchSPXP$27.455.52%12.62%-7.10%-1.43%4.74%18.85%-5.67%163 days Prospectus pmar
umarS&P 500 Ultra Buffer ETFMarchSPXU$26.983.71%12.62%-8.91%-4.14%3.64%33.44%-8.84%163 days Prospectus umar
bfebS&P 500 Buffer ETFFebruarySPXB$25.202.75%3.16%-0.40%9.54%9.42%8.60%-3.18%135 days Prospectus bfeb
pfebS&P 500 Power Buffer ETFFebruarySPXP$25.082.26%3.16%-0.89%5.19%5.58%14.89%-2.71%135 days Prospectus pfeb
ufebS&P 500 Ultra Buffer ETFFebruarySPXU$24.981.88%3.16%-1.28%4.30%5.08%29.74%-7.25%135 days Prospectus ufeb
ijanMSCI EAFE Power Buffer ETFJanuaryMXEAP$24.14-1.25%-6.26%5.01%17.43%10.79%9.98%0.00%104 days Prospectus ijan
ejanMSCI EM Power Buffer ETFJanuaryMXEFP$27.211.51%-0.84%2.35%13.74%10.39%12.15%-2.13%104 days Prospectus ejan
kjanRussell 2000 Power Buffer ETFJanuaryRUTP$26.17-1.99%-7.83%5.85%18.24%10.56%9.23%0.00%104 days Prospectus kjan
njanNasdaq-100 Power Buffer ETFJanuaryNDXP$37.226.53%25.40%-18.87%-12.74%2.14%25.52%-6.69%104 days Prospectus njan
bjanS&P 500 Buffer ETFJanuarySPXB$29.993.15%2.99%0.16%10.01%9.22%8.02%-3.63%104 days Prospectus bjan
pjanS&P 500 Power Buffer ETFJanuarySPXP$29.112.67%2.99%-0.32%5.35%5.08%14.30%-3.17%104 days Prospectus pjan
ujanS&P 500 Ultra Buffer ETFJanuarySPXU$28.442.03%2.99%-0.96%4.57%4.96%29.43%-7.46%104 days Prospectus ujan
bdecS&P 500 Buffer ETFDecemberSPXB$27.855.47%5.90%-0.43%7.03%6.79%8.25%-5.83%73 days Prospectus bdec
pdecS&P 500 Power Buffer ETFDecemberSPXP$27.514.20%5.90%-1.70%2.58%3.59%15.07%-4.67%73 days Prospectus pdec
udecS&P 500 Ultra Buffer ETFDecemberSPXU$27.162.86%5.90%-3.04%1.37%3.71%30.34%-8.28%73 days Prospectus udec
bnovS&P 500 Buffer ETFNovemberSPXB$27.658.30%9.52%-1.22%4.11%4.55%8.54%-8.37%43 days Prospectus bnov
pnovS&P 500 Power Buffer ETFNovemberSPXP$27.005.76%9.52%-3.77%-0.71%2.11%16.24%-6.15%43 days Prospectus pnov
unovS&P 500 Ultra Buffer ETFNovemberSPXU$26.784.88%9.52%-4.65%-1.55%2.10%30.53%-10.12%43 days Prospectus unov
noctNasdaq-100 Power Buffer ETFOctoberNDXP$33.8410.32%41.32%-31.00%-21.38%0.00%29.73%-10.12%12 days Prospectus noct
koctRussell 2000 Power Buffer ETFOctoberRUTP$24.571.58%0.94%0.64%9.75%8.22%13.46%-2.33%12 days Prospectus koct
boctS&P 500 Buffer ETFOctoberSPXB$27.3810.23%11.76%-1.53%2.11%2.74%8.53%-10.05%12 days Prospectus boct
poctS&P 500 Power Buffer ETFOctoberSPXP$26.147.42%11.76%-4.35%-2.29%0.88%16.27%-7.67%12 days Prospectus poct
uoctS&P 500 Ultra Buffer ETFOctoberSPXU$25.796.08%11.76%-5.69%-3.64%0.76%30.63%-11.21%12 days Prospectus uoct
¹ The fund return minus the index return.
² The minimum index return needed for the fund to realize the cap.
Performance quoted represents past performance, which is no guarantee of future results. Investment returns and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted. Returns less than one year are cumulative. One cannot invest directly in an index. For standardized performance and the most recent month-end performance, visit the fund's respective overview page by clicking on the ticker symbols above.
Leading the Defined Outcome ETF Revolution™
Investing involves risks. Loss of principal is possible. The Funds face numerous market trading risks, including active markets risk, authorized participation concentration risk, buffered loss risk, cap change risk, capped upside return risk, correlation risk, liquidity risk, management risk, market maker risk, market risk, non-diversification risk, operation risk, options risk, trading issues risk, upside participation risk and valuation risk. For a detail list of fund risks see the prospectus.
Foreign and Emerging Markets Risk Non-U.S. securities and Emerging Markets are subject to higher volatility than securities of domestic issuers due to possible adverse political, social or economic developments, restrictions on foreign investment or exchange of securities, lack of liquidity, currency exchange rates, excessive taxation, government seizure of assets, different legal or accounting standards, and less government supervision and regulation of securities exchanges in foreign countries.
Technology Sector Risk Companies in the technology sector are often smaller and can be characterized by relatively higher volatility in price performance when compared to other economic sectors. They can face intense competition which may have an adverse effect on profit margins.
Small Cap Risk Small cap companies may be more volatile and susceptible to adverse developments than their mid and large cap counterpart. In addition, the small cap companies may be less liquid than larger companies.
FLEX Options Risk The Fund will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.
These Funds are designed to provide point-to-point exposure to the price return of the Index via a basket of Flex Options. As a result, the ETFs are not expected to move directly in line with the Index during the interim period.
Investors purchasing shares after an outcome period has begun may experience very different results than funds' investment objective. Initial outcome periods are approximately 1-year beginning on the funds' inception date. Following the initial outcome period, each subsequent outcome period will begin on the first day of the month the fund was incepted. After the conclusion of an outcome period, another will begin.
Fund shareholders are subject to an upside return cap (the "Cap") that represents the maximum percentage return an investor can achieve from an investment in the funds' for the Outcome Period, before fees and expenses. If the Outcome Period has begun and the Fund has increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one Outcome Period to the next. The Cap, and the Fund's position relative to it, should be considered before investing in the Fund. The Funds' website,, provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.
The Funds only seek to provide shareholders that hold shares for the entire Outcome Period with their respective buffer level against Index losses during the Outcome Period. You will bear all Index losses exceeding 9, 15 or 30%. Depending upon market conditions at the time of purchase, a shareholder that purchases shares after the Outcome Period has begun may also lose their entire investment. For instance, if the Outcome Period has begun and the Fund has decreased in value beyond the pre-determined buffer, an investor purchasing shares at that price may not benefit from the buffer. Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing shares at that price may not benefit from the buffer until the Fund's value has decreased to its value at the commencement of the Outcome Period.
The Innovator Russell 2000 Power Buffer ETF (the "Fund") has been developed solely by Innovator Capital Management, LLC. The "Fund" is not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the "LSE Group"). FTSE Russell is a trading name of certain of the LSE Group companies. All rights in the Russell 2000 Index (the "Index") vest in the relevant LSE Group company which owns the Index. "FTSE®" "Russell®", and "FTSE Russell®" are trade marks of the relevant LSE Group company and are used by any other LSE Group company under license.
The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Fund. The LSE Group makes no claim, prediction, warranty or representation either as to the results to be obtained from the Fund or the suitability of the Index for the purpose to which it is being put by Innovator Capital Management, LLC.
Nasdaq® is a registered trademark of Nasdaq, Inc. (which with its affiliates is referred to as the "Corporations") and is licensed for use by Innovator Capital Management, LLC. The Product(s) have not been passed on by the Corporations as to their legality or suitability. The Product(s) are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT(S).
The Funds' investment objectives, risks, charges and expenses should be considered before investing. The prospectus contains this and other important information, and it may be obtained at Read it carefully before investing.
Innovator ETFs are distributed by Foreside Fund Services, LLC.
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Innovator ETFs®, Defined Outcome ETF™, Buffer ETF™, Enhanced ETF™, Define Your Future™, and other service marks and trademarks related to these marks are the exclusive property of Innovator Capital Management, LLC.
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