Investing involves risks, and loss of principal is possible. The Fund may have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Fund is right for you, please see "Investor Suitability" in the prospectus.The Fund, in accordance with the MerQube U.S. Large Cap Equity Buffer Laddered Index, will be continuously invested in a laddered portfolio of the twelve Underlying ETFs. The index is rebalanced semi-annually such that each Underlying ETF will constitute 1/12 of the Index portfolio before fees and expenses. Each Underlying ETF seeks to match the performance of the SPDR S&P 500 ETF Trust (SPY), up to a specified cap, while buffering against a 15% loss over the course of an approximately one-year time period that begins on the first trading day of the month indicated in the Underlying ETF's name when the fund enters into its FLEX Option positions and ends on the market's closure on the last trading day of the month immediately preceding the month indicated its name when those FLEX Options expire. There is no guarantee that the defined outcome strategy of an Underlying ETF in any given Outcome Period will be achieved.Fund-of-Funds Risk. As the Fund invests in Underlying ETFs, the Fund also has exposure to additional risks as well, which includes numerous market trading risks, active market risk, authorized participant concentration risk, buffered loss risk, cap change risk, cap 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 detailed list of risks to the Fund, see the prospectus. As each Underlying ETF may be invested in FLexible EXchange® Options ("FLEX Options") that reference the SPDR S&P 500 ETF Trust, 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 Fund is a "fund-of-funds" and does not itself pursue a defined outcome strategy, nor does it seek to provide a buffer against reference asset losses. Depending upon prevailing market conditions, an investor purchasing Shares of the Fund may experience investment returns that underperform the investment returns provided by the Underlying ETFs themselves because one or more Underlying ETFs may have exhausted the buffer that it seeks to provide or have little upside available due to the reference asset return being close to or exceeding to its Cap. Additionally, as a shareholder in other ETFs, the Fund bears its proportionate share of each ETF's expenses, subjecting Fund shareholders to duplicative expenses.The Index seeks to provide "laddered" investing in the Underlying ETFs. Laddered investing refers to investments in several similar securities that have different maturities or reset dates, with the goal of mitigating timing risks associated with investing in a single investment. The laddered approach of the Index is designed to help an investor offset some of the timing risks inherent in the purchase of shares of a single Underlying ETF.The foregoing discussion is for general information only and does not constitute any legal or tax advice. There can be no assurance that the Fund's position with respect to the tax treatment of its investments will not be challenged by applicable tax authorities, and if successfully challenged, the Fund and its shareholders may experience adverse tax consequences. Prospective investors should consult with their own legal and tax advisors with respect to their particular circumstances and tax consequences of investing in the Fund.Fund-of-Funds Tax Risk The Fund will invest in other funds. While the Fund has elected to be treated as, and intends to continue to qualify as, a regulated investment company (a "RIC") under applicable tax laws, there can be no assurance that the Fund will maintain such status. The Fund's ability to meet certain RIC qualification requirements may depend on the RIC status and operations of the underlying funds in which it invests. If an underlying fund fails to qualify as a RIC, the Fund may fail to satisfy one or more RIC requirements, potentially subjecting the Fund to Fund-level tax at the regular corporate rate on its taxable income, which would significantly reduce amounts available for distribution to the Fund's shareholders. Furthermore, certain transactions entered into and positions held by the underlying funds may be subject to special tax rules that could affect the character of gains and losses, disallow or suspend certain deductions, require mark-to-market treatment of certain portfolio positions, or accelerate the recognition of income without a corresponding receipt of cash, any of which may affect the character, amount and timing of distributions to shareholders, including the Fund.Innovator Capital Management, LLC maintains a webpage for the Fund and each Underlying ETF that provides current information relating to the Underlying ETF's sought-after outcomes. Prospective investors are encouraged to visit one or more of these webpages and read the prospectus and statement of additional information of the Underlying ETFs before investing in an either an Underlying ETF or the Fund.Innovator Capital Management, LLC maintains a webpage for the Fund and each Underlying ETF that provides current information relating to the Underlying ETF's sought-after outcomes. Prospective investors are encouraged to visit one or more of these webpages and read the prospectus and statement of additional information of the Underlying ETFs before investing in an either an Underlying ETF or the Fund.