Innovator Capital Management, LLC (Innovator), the Defined Outcome
ETF™ pioneer, today announced the launch of the latest four funds
in the Accelerated ETFs™ suite –
XDJL,
XBJL,
XTJL, QTJL –
listing on Cboe. Innovator also announced the upside caps and
return profiles for the July series of the Equity Buffer ETFs™,
Defined Outcome Bond ETFs™ and Accelerated ETFs™, which reset at
the end of the month.
The Defined Outcome ETFs™ announcing new upside
caps and/or refreshed buffers include:
- the
Accelerated
ETFs™, which welcome four
new listings
(XDJL,
XBJL,
XTJL,
QTJL) to the Defined Outcome
ETF™ family. The
Accelerated ETFs™ are the world’s first ETFs to seek to offer a
multiple of the upside return of a reference asset (SPY or QQQ), up
to a cap, with approximately single exposure on the downside.
- the two quarterly outcome period
Accelerated ETFs™ (XDSQ, XDQQ) that have reset for the first
time.
- the S&P 500 Buffer
ETFs™ (BJUL (S&P 500 Buffer ETF™ – July), PJUL
(S&P 500 Power Buffer ETF™ – July) and UJUL (S&P 500 Ultra
Buffer ETF™ – July)), which concluded their third outcome
period at the end of the month;
- the International Equity
Power Buffer ETFs™ (IJUL (Innovator MSCI EAFE Power Buffer
ETF™ – July) and EJUL (Innovator MSCI Emerging Markets Power Buffer
ETF™ – July)), which finished their second outcome
period;
- the Domestic Equity Power
Buffer ETFs™ (NJUL (Innovator Nasdaq-100 Power Buffer ETF™
– July) and KJUL (Innovator Russell 2000 Power Buffer ETF™ –
July)), which completed their first outcome
period;
- as well as the
Defined Outcome Bond ETFs™ (TFJL (Innovator 20+
Year Treasury Bond 5 Floor ETF™ – July) and TBJL (Innovator 20+
Year Treasury Bond 9 Buffer ETF™ – July)), which are the first ETFs
to provide buffered exposure to TLT (the iShares 20+ Year Treasury
Bond ETF) with upside to a cap, and completed their first outcome
period at the end of the month, successfully buffering against TLT
losses since the ETFs’ inception in 2020. The Innovator 20+ Year
Treasury Bond 5 Floor ETF™ – July (TFJL), is now operating
on a quarterly outcome period allowing for more frequent
resets and even potentially better risk management against downside
in long-dated U.S. Treasuries via options on TLT.
Return profiles for the Innovator Buffer
ETFs™ and Defined Outcome Bond
ETFs™ – July series, as of
7/01/21
Ticker |
Name |
Buffer Level |
Cap* |
|
Outcome Period |
BJUL |
Innovator S&P 500 Buffer ETF™ - July |
9.00% |
|
12.00% |
|
12 months 7/01/21 – 6/30/22 |
PJUL |
Innovator S&P 500 Power Buffer ETF™ - July |
15.00% |
|
7.80% |
|
12 months 7/01/21 – 6/30/22 |
UJUL |
Innovator S&P 500 Ultra Buffer ETF™ - July |
30.00% (-5% to -35%) |
|
6.00% |
|
12 months 7/01/21 – 6/30/22 |
IJUL |
Innovator MSCI EAFEPower Buffer ETF™ - July |
15.00% |
|
6.77% |
|
12 months 7/01/21 – 6/30/22 |
EJUL |
Innovator MSCI Emerging MarketsPower Buffer ETF™ - July |
15.00% |
|
8.78% |
|
12 months 7/01/21 – 6/30/22 |
NJUL |
Innovator Nasdaq-100 Power Buffer ETF™ - July |
15.00% |
|
9.01% |
|
12 months 7/01/21 – 6/30/22 |
KJUL |
Innovator Russell 2000 Power Buffer ETF™ - July |
15.00% |
|
9.65% |
|
12 months 7/01/21 – 6/30/22 |
TFJL |
Innovator 20+ Year Treasury Bond 5 Floor ETF™ |
5.00% Floor |
|
2.30% |
|
3 months 7/01/21 – 9/30/21 |
TBJL |
Innovator 20+ Year Treasury Bond 9 Buffer ETF™ |
9.00% |
|
9.00% |
|
12 months 7/01/21 – 6/30/22 |
* The Caps above are shown gross of each fund’s
management fee (.79% for all ETFs except IJUL (.85%) and EJUL
(.89%)). The actual Cap for each Fund will be set at the beginning
of the Outcome Period, and is dependent upon market conditions at
that time. Periods of high market volatility could result in higher
caps, and lower volatility could result in lower caps. As a result,
the Cap set by each Fund may be higher or lower than the Cap Range.
“Cap” refers to the maximum potential return, before fees and
expenses and any shareholder transaction fees and any extraordinary
expenses, if held over the full Outcome Period. “Buffer” refers to
the amount of downside protection the fund seeks to provide, before
fees and expenses, over the full Outcome Period. Outcome Period is
the intended length of time over which the defined outcomes are
sought. Upon fund launch, the Caps can be found on a daily basis
via www.innovatoretfs.com.
Return profiles for the Innovator Accelerated
ETFs™ – July series, as of
7/01/21
Listing today, July 1st, the four Innovator
Accelerated ETFs™ operating on an annual outcome period from July
1, 2021 to June 30, 2022 are below with their return profiles, in
addition to the two quarterly resetting products:
Ticker |
Reference Asset |
Upside to Cap |
Downside |
Upside Cap* |
Outcome Period |
XDJL |
SPY |
2X |
1X |
16.00 |
% |
Annual |
XBJL |
SPY |
2X |
1X, 9% Buffer |
9.20 |
% |
Annual |
XDSQ |
SPY |
2X |
1X |
5.98 |
% |
Quarterly |
XTJL |
SPY |
3X |
1X |
14.79 |
% |
Annual |
XDQQ |
QQQ |
2X |
1X |
7.60 |
% |
Quarterly |
QTJL |
QQQ |
3X |
1X |
19.35 |
% |
Annual |
* The Caps above are shown gross of each fund’s
.79% management fee. “Cap” refers to the maximum potential return,
before fees and expenses and any shareholder transaction fees and
any extraordinary expenses, if held over the full Outcome Period.
“Buffer” refers to the amount of downside protection the fund seeks
to provide, before fees and expenses, over the full Outcome Period.
Outcome Period is the intended length of time over which the
defined outcomes are sought. Upon fund launch, the Caps can be
found on a daily basis via www.innovatoretfs.com.Investors
who purchase shares after the start of an outcome period may be
exposed to enhanced risk.
The following Accelerated ETFs™ based on the
Large-cap U.S. equity market through options on SPY (the SPDR
S&P 500 ETF Trust) launched today:
- Innovator
U.S. Equity Accelerated
ETF™ – July (XDJL) seeks
to provide investors with double the upside performance of SPY, to
a cap, with approximately single exposure to SPY on the downside,
over a one-year outcome period.
- Innovator U.S.
Equity Accelerated 9 Buffer
ETF™ – July (XBJL) seeks
to provide investors with double the upside performance of SPY, to
a cap, with approximately single exposure to SPY on the downside
and a buffer against the first 9% of losses in SPY, over a one-year
outcome period.
- Innovator
U.S. Equity Accelerated Plus
ETF™ – July (XTJL) seeks
to provide investors with triple the upside performance of SPY, to
a cap, with approximately single exposure to SPY on the downside,
over a one-year outcome period.
Innovator is also listing the following
Accelerated ETF™ based on Growth stocks through options on QQQ (the
Invesco QQQ Trust):
- Innovator Growth-100
Accelerated Plus ETF™ – July
(QTJL) seeks to provide investors with triple the upside
performance of QQQ, to a cap, with approximately single exposure to
QQQ on the downside, over a one-year outcome period.
The Accelerated ETFs™ are not like leveraged
ETFs, which typically seek to provide a magnified exposure on both
the upside and the downside on a daily basis and can compound risk
with higher volatility when held long-term due to their frequent,
often daily, rebalancing. Instead, the Accelerated ETFs™ seek to
provide asymmetrical returns over either a typically annual or
quarterly outcome period that are magnified on the upside only, to
a cap. Innovator’s Accelerated ETFs™ will rebalance annually or
quarterly, making the funds more suited for asset allocation and
longer-term investors rather than tools for ultra-tactical trading.
In the Accelerated ETFs™ case, it is important to note that
investors must hold shares for an entire outcome period to achieve
the enhanced returns that a fund seeks to provide.
While the Funds are designed to participate in
the reference ETF (SPY or QQQ) losses on a one-to-one basis over
the duration of the outcome period as a whole, a decrease in the
value of the reference asset’s share price may cause a decrease in
the Fund’s NAV while an outcome period is ongoing. Therefore an
investor that purchases Shares after an outcome period has begun
may be exposed to incremental downside risk if the reference asset
has increased in value.
The shorter outcome period of the Quarterly
outcome period ETFs (XDSQ, XDQQ) means they will follow the
reference asset (SPY or QQQ) more closely, but have lower starting
caps. Investors can use both outcome periods to tactically respond
to changing market conditions should they wish to do so.
The Funds 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.
At the end of each ETF’s outcome period, the ETF
will simply rebalance and reset, providing investors with new
upside caps and a fresh 9% Buffer in the case of XBJL, over the
next outcome period. The Accelerated ETFs™ do not expire and can be
long-term core equity holdings in a portfolio. The options-based
ETFs are anticipated to be as tax-efficient as traditional equity
ETFs, with no planned cap gains distributions to shareholders and
investors being able to defer taxes until selling.
Investors in the Innovator Accelerated ETFs™
will not receive dividend yield from their holdings; the ETFs will
be based on the price returns of the reference ETF (SPY or QQQ)
over the length of the outcome period. The Innovator Accelerated
ETFs™ will charge a 0.79% management fee.
The Accelerated ETFs™ will be constructed using
Cboe FLEX Options, offering exposure to equity markets rather than
investing in them directly. The FLEX Options forming the underlying
positions of the first three Innovator Accelerated ETFs™ are based
on SPY or QQQ (the reference asset).
The Accelerated ETFs™ provide defined returns
over the entire Outcome Period, not on a daily basis. As a result,
interim returns may lag the reference benchmark ETFs. This is due
to the time-value nature of the underlying options held by the
fund; as such, the Accelerated ETFs™ won’t maintain proportional
betas of 1.0 to the reference ETF in instances of positive returns
for the associated equity benchmark. Though they provide
simultaneous multiple exposure to the upside of the benchmark, the
Accelerated ETFs™ only seek to provide the positive performance of
the reference ETF over the full Outcome Period, up to a cap, and
1:1 downside to the reference asset over the Outcome Period. In the
interim, or intra-Outcome Period, investors can expect the
Accelerated ETFs™ to exhibit lower beta than traditional passive
index-tracking ETFs. An investor that purchases Shares after an
Outcome Period has begun may be exposed to downside from that point
forward if the reference asset has appreciated in value since the
period began.
Starting with the January series, Innovator will
be transitioning reference assets of the underlying options within
its Defined Outcome Equity Buffer ETFs™ to achieve the stated
outcomes with ETF-based, or fund-based, options rather than
index-based options. Innovator’s Equity Buffer ETFs™ have
traditionally used index-based options while the Defined Outcome
Bond ETFs and Stacker ETFs™ have been constructed using fund-based
options. This change is intended to streamline market making and
increase the operational efficiencies of the tax-efficient Buffer
ETFs™ and will not materially impact shareholders. The Buffer ETFs™
will continue to draw from the same deeply liquid options markets
pools that underpin the strategies, the level of the upside caps
achieved should be unaffected and no tax event will be triggered
given the options can be transferred in-kind. “These operational
changes are intended to harness the power and efficiencies of the
ETF wrapper even further for the benefit of our Defined Outcome
Buffer ETF™ investors,” said Bruce Bond, CEO of Innovator ETFs.
Innovator Defined Outcome ETFs - Benefits to
Advisors
- Pioneer and creator
of Defined Outcome ETFs™ with 70 ETFs and over $4.7 billion AUM
across family1
- Tax-efficient
exposure2 to five broad equity benchmarks (S&P 500, NASDAQ-100,
Russell 2000, MSCI EAFE, MSCI EM), the 20+ Year U.S. Treasury
Market and now including the Stacker ETFs, the world’s first ETFs
to offer a “stacked” exposure to two or three benchmark equity
index ETFs on the upside, to a cap, with downside exposure to the
S&P 500 only, and the Accelerated ETFs™, the world’s first ETFs
to seek to offer a multiple of the upside return of a reference
asset, up to a cap, with approximately single exposure on the
downside.
- Over 72 Defined
Outcome ETFs™ from Innovator have reset and successfully completed
their respective outcome periods3
- Monthly issuance on
SPY or the S&P 500 with three buffer levels (9,15, or 30%)
Innovator's Defined Outcome ETFs™ are the
subject of a patent application filed with the U.S. Patent and
Trademark Office.
The Funds 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.
About Innovator Defined Outcome
ETFs™ Defined Outcome ETFs™ are the world’s first ETFs
that seek to provide investors with known ranges of future
investment outcomes prior to investing. These outcome ranges
include multiple and single upside exposure, to a cap, with defined
levels of downside risk with buffers and floors over a set amount
of time. The Innovator Defined Outcome ETFs™ cover a large spectrum
of domestic and international equities and bonds. Innovator’s
category-creating Defined Outcome ETF™ family includes Buffer
ETFs™, Floor ETFs™, Stacker ETFs™ and Accelerated ETFs™.
The Buffer ETFs™ seek to provide the upside
performance of broadly recognized benchmarks (e.g., S&P 500,
NASDAQ-100, Russell 2000, MSCI EAFE, and MSCI Emerging Markets, as
well as the iShares 20+ Year Treasury Bond ETF (TLT)), or
underlying ETFs based on those benchmarks, as applicable, to a cap,
with built-in buffers, over an outcome period of one-year. The ETFs
reset annually and can be held indefinitely.
Each Buffer ETF™ in Innovator’s Defined Outcome
ETF™ suite seeks to provide a defined exposure to a broad market
benchmark where the downside buffer level, upside growth potential
to a cap, and Outcome Period are all known, prior to investing. In
2019, Innovator began expanding its suite of S&P 500 Buffer
ETFs™ into a monthly series to provide investors more opportunities
to purchase shares as close to the beginning of their respective
Outcome Periods as possible.
The Innovator 20+ Year Treasury Bond 5 Floor ETF
(TFJL) seeks to provide exposure to the upside performance of the
iShares 20+ Year Treasury Bond ETF (TLT) to a cap and a floor
against downside losses in excess of 5% over the outcome
period.
Investors can purchase shares of a previously
listed Defined Outcome ETF™ throughout the entire Outcome Period,
obtaining a current set of defined outcome parameters, which are
disclosed daily through a web tool available at:
http://innovatoretfs.com/define.
Innovator is focused on delivering defined
outcome-based solutions inside the benefit-rich ETF wrapper,
retaining many of the features that have contributed to the success
of structured products4 (e.g., downside buffer levels, upside
participation, defined outcome parameters), but with the added
benefits of transparency, liquidity, the elimination of credit risk
and lower costs afforded by the ETF structure.***
Buffer ETFs seek to provide
investors with potential market appreciation of a given reference
asset, up to a cap, and a predetermined downside buffer, based on
the price returns of the reference asset, over a 1 year outcome
period.
About Innovator Capital Management,
LLCAwarded ETF.com's "ETF Issuer of the Year - 2019",
Innovator Capital Management LLC (Innovator) is an SEC-registered
investment advisor (RIA) based in Wheaton, IL. Formed in 2014,
the firm is currently headed by ETF visionaries Bruce Bond and John
Southard, founders of one of the largest ETF providers in the
world. Bond and Southard reentered the asset management industry to
bring to market first-of-their-kind investment opportunities,
including the Defined Outcome ETFs™, products that they felt
would change the investing landscape and bring more certainty
to the financial planning process. Innovator’s category-creating
Defined Outcome ETF™ family includes Buffer ETFs™, Floor ETFs,
Stacker ETFs™ and the Accelerated ETFs™, the world’s first ETFs to
seek to offer a multiple of the upside return of a reference asset,
up to a cap, with approximately single exposure on the downside.
Buffer ETFs™ and Floor ETFs™ seek to provide investors structured
exposures to broad markets, where the upside growth potential,
buffer or floor against the downside, and outcome period are all
known, prior to investing. Stacker ETFs™ are the
world’s first ETFs to offer a multiple or "stacked" exposure to two
or three benchmark index ETFs (SPY, QQQ, IWM) to a cap, with only
downside exposure to the SPY over a one year outcome period.
Accelerated ETFs™ are the world’s first ETFs to seek to offer a
multiple of the upside return of a reference asset, up to a cap,
with approximately single exposure on the downside over an outcome
period. Having launched the first Defined Outcome ETFs™ in 2018 --
the flagship Innovator S&P 500 Buffer ETF™ Suite – Innovator’s
solutions allow advisors to construct diversified portfolios with
known outcome ranges to aid in risk management and financial
planning. Built on a foundation of innovation and driven by a
commitment to help investors better control their financial
outcomes, Innovator is leading the Defined Outcome ETF
Revolution™. For additional information, visit
www.innovatoretfs.com.
About Cboe Global Markets,
Inc.Cboe Global Markets (Cboe: CBOE) is one of the world’s
largest exchange-holding companies, offering cutting-edge trading
and investment solutions to investors around the world. For more
information, visit www.cboe.com.
About Milliman Financial Risk Management
LLCMilliman Financial Risk Management LLC (Milliman FRM)
is a global leader in financial risk management to the retirement
industry, providing investment advisory, hedging, and consulting
services on approximately $150 billion in global assets as of March
31, 2021. Milliman FRM is one of the largest and fastest-growing
subadvisors of ETFs. For more information about Milliman FRM, visit
www.Milliman.com/FRM.
Media ContactPaul Damon+1 (802)
999-5526paul@keramas.net
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, www.innovatoretfs.com, provides important Fund
information as well as information relating to the potential
outcomes of an investment in a Fund on a daily basis.
The Defined Outcome Funds that include a
buffer objective only seek to provide shareholders that hold shares
for the entire Outcome Period with their respective buffer level
against reference asset losses during the Outcome Period. You will
bear all reference asset 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.
Interim Period Shareholders
Unlike structured notes, which offer limited
liquidity, Innovator Defined Outcome ETFs™ trade throughout the day
on an exchange, like a stock. As a result, investors purchasing
shares of a Fund after its launch date may achieve a different
payoff profile than those who entered the Fund on day one.
Innovator recognizes this as a benefit of the Funds and provides a
web-based tool that allows investors to know, in real-time
throughout the trading day, their potential defined outcome return
profile before they invest, based on the current ETF price and the
Outcome Period remaining. Innovator’s web tool can be accessed at
http://www.innovatoretfs.com/define.
Although each Fund seeks to achieve the
defined outcomes stated in its investment objective, there is no
guarantee that it will do so. The returns that the Funds seek to
provide do not include the costs associated with purchasing shares
of the Fund and certain expenses incurred by the Fund.
In the event an Outcome Period has begun and the
underlying asset's share price has increased in value, such an
increase will be reflected in the value of the Fund’s purchased
call option on the underlying assets. Accordingly, in the event
that the underlying asset's share price were to subsequently
decrease in value, that decrease would also be reflected in the
value of that option, and therefore the Fund’s NAV.
An investor that purchases Fund Shares after the underlying
assets have increased in value during an Outcome Period may be
negatively affected by future decreases during the remainder of the
Outcome Period
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
detailed list of fund risks see the prospectus.
Market Disruptions Resulting from
COVID-19. The outbreak of COVID-19 has negatively affected
the worldwide economy, individual countries, individual companies
and the market in general. The future impact of COVID-19 is
currently unknown, and it may exacerbate other risks that apply to
the Fund.
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 reference asset
via a basket of Flex Options. As a result, the ETFs are not
expected to move directly in line with the reference asset during
the interim period.
Investors purchasing shares after an outcome
period has begun may experience very different results than these
funds' investment objectives. Initial outcome periods are
approximately 1-year beginning on the funds' inception dates.
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.
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 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.
The ETFs referred to herein is not
sponsored, endorsed, or promoted by MSCI Inc. or based upon the
MSCI EAFE and MSCI Emerging Markets Indexes. MSCI Inc. bears no
liability with respect to the ETFs.
MSCI, MSCI EAFE, and MSCI Emerging
Markets are trademarks or service marks of MSCI Inc. or its
affiliates (“Marks”) and are used hereto subject to license from
MSCI. All goodwill and use of Marks inures to the benefit of MSCI
and its affiliates. No other use of the Marks is permitted without
a license from MSCI.
Cboe Global Markets, Inc., and its
affiliates do not recommend or make any representation as to
possible Benefits from any securities, futures or investments, or
third-party products or services. Cboe Global Markets, Inc., is not
affiliated with S&P DJI, Milliman, or Innovator Capital
Management. Investors should undertake their own due diligence
regarding their securities, futures and investment
practices.
Cboe Global Markets, Inc., and its
affiliates make no warranty, expressed or implied, including,
without limitation, any warranties as of merchantability, fitness
for a particular purpose, accuracy, completeness or timeliness, or
as to the results to be obtained by recipients of the
products.
* ETF.com’s editorial team
chose the finalists and then the ETF.com Awards Selection
Committee, an independent panel comprised of fifteen of the ETF
industry’s leading analysts, consultants and investors, decided the
winners.
** The shortlists and winners
are comprised of individuals and firms who have submitted entries
or been nominated via the online submission process, as well as
through recommendations from leading market participants. Judges
will judge the ETF categories and will use the submitted
application material, as well as any uploaded supplemental
information, to determine which firm, individual or product they
believe to be the most suitable and deserving winners for each
category.
*** ETFs use creation units, which allow for the purchase and
sale of assets in the fund collectively. Consequently, ETFs usually
generate fewer capital gain distributions overall, which can make
them somewhat more tax-efficient than mutual funds. Defined Outcome
ETFs are not backed by the faith and credit of an issuing
institution, so they are not exposed to credit risk.
Innovator ETFsTM, Defined Outcome ETFTM, Buffer
ETFTM, Stacker ETFTM, Accelerated ETFs™, Enhanced ETFTM, Define
Your FutureTM, Leading the Defined Outcome ETF RevolutionTM and
other service marks and trademarks related to these marks are the
exclusive property of Innovator Capital Management, LLC.
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 innovatoretfs.com. Read it carefully before
investing.
Innovator ETFs are distributed by Foreside Fund
Services, LLC.
Copyright © 2021 Innovator Capital Management,
LLC.
800.208.5212
1 AUM in all Innovator Defined Outcome ETFs as of 6.30.2021.2
ETFs use creation units, which allow for the purchase and sale of
assets in the fund collectively. Consequently, ETFs usually
generate fewer capital gain distributions overall, which can make
them somewhat more tax-efficient than mutual funds. 3 As of
7.01.20214 Structured notes and structured annuities are financial
instruments designed and created to afford investors exposure to an
underlying asset through a derivative contract. It is important to
note that these ETFs are not structured notes or structured
annuities.
Innovator US Equity Acce... (AMEX:XDSQ)
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Innovator US Equity Acce... (AMEX:XDSQ)
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From Oct 2023 to Oct 2024