Innovator ETFs: Defined Outcome ETF Caps & Distribution Rates
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CAPS & DISTRIBUTION RATES
ETFs Rebalanced & Listed July 2025
View Starting Rates
ETFs Rebalanced & Listed July 2025
Dual Directional Buffer ETFs™
Ticker   Name Ref. Asset Inverse Cap / Buffer Outcome Period Upside Cap
DDTL Listed 7/1! Equity Dual Directional 10 Buffer ETF™ SPY 10% 1 Year 12.59%
DDFL Listed 7/1! Equity Dual Directional 15 Buffer ETF™ SPY 15% 1 Year 8.79%
 
100% Buffer ETFs™
Ticker   Name Ref. Asset Protection Outcome Period Cap¹
TJUL   Equity Defined Protection ETF™ SPY 100% Buffer¹ 2 years 13.61%
ZJUL   Equity Defined Protection ETF™ SPY 100% Buffer¹ 1 year 7.00%
JAJL   Equity Defined Protection ETF™ SPY 100% Buffer¹ 6 months 3.64%
 
Quarterly Buffer ETFs™
Ticker   Name Ref. Asset Protection Outcome Period Cap
BALT   Defined Wealth Shield ETF™ SPY 20% Buffer 3 months 2.40%
EALT   U.S. Equity 5 to 15 Buffer ETF™ SPY 10% (-5% to -15%) Buffer 3 months 6.16%
ZALT   U.S. Equity 10 Buffer ETF™ SPY 10% Buffer 3 months 3.56%
QBUF   Nasdaq-100 10 Buffer ETF™ QQQ 10% Buffer 3 months 4.20%
RBUF   U.S. Small Cap 10 Buffer ETF™ IWM 10% Buffer 3 months 5.02%
IBUF   International Developed 10 Buffer ETF™ EFA 10% Buffer 3 months 2.89%
EBUF   Emerging Markets 10 Buffer ETF EEM 10% Buffer 3 months 2.63%
 
Buffer ETFs™
Ticker   Name Ref. Asset Protection Outcome Period Cap
BJUL   U.S. Equity Buffer ETF™ SPY 9% Buffer 12 months 16.00%
PJUL   U.S. Equity Power Buffer ETF™ SPY 15% Buffer 12 months 12.09%
UJUL   U.S. Equity Ultra Buffer ETF™ SPY 30% (-5 to -35%) Buffer 12 months 11.50%
KJUL   U.S. Small Cap Power Buffer ETF™ IWM 15% Buffer 12 months 17.14%
NJUL   Growth-100 Power Buffer ETF™ QQQ 15% Buffer 12 months 14.60%
EJUL   Emerging Markets Power Buffer ETF™ EEM 15% Buffer 12 months 13.86%
IJUL   Intl Developed Power Buffer ETF™ EFA 15% Buffer 12 months 13.60%
TFJL   20+ Year Treasury Bond 5 Floor ETF™ TLT 5% Floor 3 months 13.93%
TBJL   20+ Year Treasury Bond 9 Buffer ETF™ TLT 9% Buffer 12 months 48.65%
 
Bitcoin ETFs
Ticker   Name Ref. Asset Protection Outcome Period Participation Rate
QBF   Uncapped Bitcoin 20 Floor ETF® Bitcoin 20% Floor 3 months 74.00%
 
 
Premium Income ETFs™
Ticker   Name Ref. Asset Protection Outcome Period Defined Distribution Rate
LJUL   Premium Income 15 Buffer ETF™ SPY 15% Buffer 12 months 6.01%
JULH   Premium Income 20 Barrier ETF™ SPX 20% Barrier 12 months 7.24%
JULJ   Premium Income 30 Barrier ETF™ SPX 30% Barrier 12 months 6.08%
 
Accelerated ETFs®
Ticker   Name Ref. Asset Upside/Downside Outcome Period Cap
XBJL   U.S. Equity Accelerated 9 Buffer ETF™ SPY 2x/1x + 9% Buffer 12 months 11.88%
XTJL   U.S. Equity Accelerated Plus ETF® SPY 3x/1x 12 months 15.15%
QTJL   Growth Accelerated Plus ETF® QQQ 3x/1x 12 months 18.99%
XDSQ   U.S. Equity Accelerated ETF® SPY 2x/1x 3 months 6.82%
XDQQ   Growth Accelerated ETF® QQQ 2x/1x 3 months 8.52%
1. Before fees and expenses.
100% Buffer ETFs: seek to track the return of SPY, to a cap, with a 100% downside buffer over the outcome period, before fees and expenses.

Buffer ETFs™: Seek to provide investors with equity market appreciation, up to a cap, and downside buffer levels, over a 3-month or 1-year outcome period.

Premium Income Buffer ETFs™: Seek to provide shareholders that hold shares for the entire outcome period with a buffer against the first 9% or 15% of Underlying ETF losses during the outcome period. The Fund's shareholders will bear all Underlying ETF losses exceeding the buffer on a one-to-one basis. There is no guarantee that the Fund will be successful in its attempt to implement the Buffer.

Premium Income Barrier ETFs™: Seek to provide investment performance for each Outcome Period that is equal to the Defined Distribution Rate, subject to the losses experienced by the S&P 500 Price Return Index, if such losses exceed the Barrier at the end of the Outcome Period.

Accelerated ETFs®: Seek to offer approximately 2 or 3 times the upside return of SPY or QQQ, to a cap, with approximately single exposure to the downside, over a 3-month or 1-year outcome period.

Reference Asset is the market in which the ETF pursues its defined investment outcome. Protection is the amount and type of downside risk management the fund seeks to provide. Outcome Period is to the time period the fund seeks to achieve its stated cap and buffer. Cap is the maximum potential return if held to the end of the current Outcome Period.
Upside/downside refers to the fund's upside and downside participation levels, to a cap, of the reference asset.
There is no guarantee the funds will achieve their investment objectives. The funds have characteristics unlike other traditional investment products and may not be suitable for all investors. Please see "investor suitability" in the prospectus. Shares purchased after the start of an outcome period may be subject to enhanced risks.
SPX: S&P 500 Price Return Index; SPY: SPDR® S&P 500® ETF Trust; QQQ: Invesco QQQ Trust; IWM: iShares Russell 2000 ETF; EFA: iShares MSCI EAFE ETF; EEM: iShares MSCI Emerging Markets ETF; TLT: iShares 20+ Year U.S. Treasury ETF