Innovator Capital Management, LLC (Innovator) today announced the
listing of a new suite of accumulation-oriented Defined Outcome
ETFs, the Innovator 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 for
investors who hold shares for an entire outcome period. Part of
Innovator’s Defined Outcome ETF™ family, the Accelerated ETFs™ will
offer advisors the ability to accelerate a portfolio’s equity
performance to a cap over a one-year or three-month outcome period.
The Accelerated ETFs™ reflect Innovator’s continued dedication to
disrupting the asset management, structured products and insurance
industries for the benefit of advisors and the end-investor, and
their launch represents another ETF industry milestone.
Listing today, April 1st, on the Cboe, the
initial six Innovator Accelerated ETFs™ are below with their return
profiles:
Ticker |
ReferenceAsset |
Upside toCap |
Downside |
Upside Cap* |
OutcomePeriod |
XDAP |
SPY |
2X |
1X |
17.16 |
% |
Annual |
XBAP |
SPY |
2X |
1X, 9% Buffer |
10.20 |
% |
Annual |
XDSQ |
SPY |
2X |
1X |
6.70 |
% |
Quarterly |
XTAP |
SPY |
3X |
1X |
16.20 |
% |
Annual |
XDQQ |
QQQ |
2X |
1X |
9.50 |
% |
Quarterly |
QTAP |
QQQ |
3X |
1X |
21.30 |
% |
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 Accelerated ETFs™ have been an essential
part of the plan for our Defined Outcome ETF lineup since day one,
and we think many advisors and ETF investors share our excitement
about finally having them in the market,” said Bruce Bond, CEO of
Innovator ETFs. “The Accelerated ETFs™ seek to enhance investors’
equity performance potential to a cap without taking on additional
downside risk. This is an accumulation-oriented investing product
concept we’ve been working diligently on since 2017 when we filed
for our first Buffer ETFs. And now, for the first time ever in an
ETF, investors who hold shares for an entire outcome period will
have access to potentially double or triple the upside of SPY or
QQQ, to a cap, with approximately single exposure on the downside.
This means that in instances when SPY or QQQ returns less than the
cap over the outcome period and the investor holds the respective
Accelerated ETF™ for the entire outcome period, they will have the
potential to outpace the respective market.”
“Given the significant allocations to similar
asymmetric accelerated or enhanced equity return strategies in less
advantageous product structures, we think the Accelerated ETFs™
will really resonate with advisors who have been attracted to these
types of investments but were deterred by the illiquidity, opacity,
high relative costs and credit risk of structured notes,” said John
Southard, CIO of Innovator ETFs. “We can’t predict the future but,
if history is a guide, Large-cap and Growth domestic equities are
very unlikely to best the annualized returns they’ve produced over
the recent decade. With valuations so rich and suppressed rates
starting to climb, Wall Street strategists are widely forecasting a
low to moderate growth environment for domestic stocks in the mid-
to long-term outlook. The Accelerated ETFs™ seek to provide the
potential to enhance returns in such lower-growth environments, and
could help to support investors’ accumulation goals,” said John
Southard, CIO of Innovator ETFs.
Bond added, “With the launch of Innovator
Accelerated ETFs™, investors will have the ability to build
diversified portfolios with Defined Outcome ETFs™. Offering both
annual and quarterly outcome periods provides advisors with greater
allocation flexibility. Given their potential to enhance equity
returns, we believe the Accelerated ETFs™ will prove to be powerful
tools for wealth accumulation while our Defined Outcome Buffer
ETFs™ can provide effective equity risk management and function as
alternatives to core bond allocations that are getting whacked by
historically low yields, a steepening yield curve and the
heightened potential for elevated inflation.”
Today, Innovator lists the following Accelerated
ETFs™ based on the Large-cap U.S. equity market through options on
SPY (the SPDR S&P 500 ETF Trust): the Innovator U.S. Equity
Accelerated ETF™ – April (XDAP); the Innovator U.S. Equity
Accelerated 9 Buffer ETF™ – April (XBAP); the Innovator U.S. Equity
Accelerated ETF™ – Quarterly (XDSQ); as well as the Innovator U.S.
Equity Accelerated Plus ETF™ – April (XTAP).
- Innovator
U.S. Equity Accelerated ETF™ – April
(XDAP) will seek 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™ –
April (XBAP) will seek 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 ETF™ – Quarterly
(XDSQ) will seek to provide investors with double the
upside performance of SPY, to a cap, with approximately single
exposure to SPY on the downside, over a three-month, or quarterly,
period.
- Innovator
U.S. Equity Accelerated Plus ETF™ – April
(XTAP) will seek 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.
Also today, Innovator will list the following
Accelerated ETFs™ based on Growth stocks through options on QQQ
(the Invesco QQQ Trust): the Innovator Growth Accelerated ETF™ –
Quarterly (XDQQ) as well as the Innovator Growth Accelerated Plus
ETF™ – April (QTAP).
- Innovator
Growth Accelerated ETF™ – Quarterly (XDQQ) will
seek to provide investors with double the upside performance of
QQQ, to a cap, with approximately single exposure to QQQ on the
downside, over a three-month, or quarterly, period.
- Innovator
Growth Accelerated Plus ETF™ – April (QTAP) will
seek 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 shorter outcome period of the Quarterly
outcome period ETFs (XDSQ, XDQQ) means they will follow the
reference asset (SPY or QQQ) more closely, but will have lower
starting caps. Investors can use both outcome periods to tactically
respond to changing market conditions should they wish to do so.
The first outcome period for each of the three Accelerated ETFs™
will be slightly longer than the subsequent outcome periods due to
the launch date of the ETFs.
The Accelerated ETFs™ will not be 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™ will 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 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 XBAP, 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.
The Accelerated ETFs™ will be part of
Innovator’s category-creating Defined Outcome ETF™ family – the
first group of ETFs designed to provide investors with built-in
buffers against losses of -9% (“Buffer”), -15% (“Power Buffer”) or
-30% (“Ultra Buffer”) and exposure to the growth of core markets,
to a cap, in a tax-efficient vehicle over a one-year outcome
period. Innovator currently has 65 Defined Outcome Buffer ETFs™ in
the market, as well as the Innovator Laddered Fund of S&P 500
Power Buffer ETFs (BUFF), with total assets under management (AUM)
of nearly $4.15 billion1. In addition to being named “ETF Issuer of
the Year – 2019” in the seventh annual ETF.com Awards*,
acknowledging the rapid advisor adoption and the positive potential
impact on investor behavior of the Defined Outcome ETFs™, Innovator
defended their 2019 win for the “Asset Managers: ETFs” award at the
2020 WealthManagement.com Industry Awards and was “Highly
Commended” for “ETF Suite of the Year” at the Mutual Fund Industry
and ETF Awards 2020 by Fund Intelligence** in July.
Innovator Defined Outcome ETFs - Benefits to
Advisors
- Pioneer and creator
of Defined Outcome ETFs™ with 65 ETFs and nearly $4.15 billion AUM
across family2
- Tax-efficient
exposure to five broad equity benchmarks (S&P 500, NASDAQ 100,
Russell 2000, MSCI EAFE, MSCI EM), the 20+ Year U.S. Treasury
Market and 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
- 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.
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™, Stacker ETFs™ and Floor 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.
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 products3 (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 Stacker
ETFs™ The outcomes that the Stacker Funds
seek to provide may only be realized if you are holding shares on
the first day of the Outcome Period and continue to hold them on
the last day of the Outcome Period, approximately one-year. The
Funds should not be considered if an investor is unwilling to hold
shares for the duration of the Outcome Period in order to achieve
the outcomes the funds seek to provide. There is no guarantee that
the Outcomes for an Outcome Period will be realized or that the
Fund will achieve its investment objective. The returns the Funds
seek to provide are based on price return of the corresponding
ETFs. An investor that purchases Fund Shares after the start of an
outcome period may be exposed to the downside risks of QQQ and
IWM.
While the Fund will not participate in any QQQ or IWM ETF (as
applicable) losses over the duration of the Outcome Period as
whole, a decrease in the value of the QQQ or IWM ETF share price
will cause a decrease in the Fund’s NAV while an Outcome Period is
ongoing. In the event an Outcome Period has begun, and the QQQ or
IWM ETF share price has increased in value, such an increase will
be reflected in the value of the Fund’s purchased call option on
the QQQ or IWM ETF. Accordingly, in the event that the QQQ or IWM
ETF 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 QQQ or IWM ETF has increased in value during an Outcome
Period may be negatively affected by future decreases during the
remainder of the 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™, Stacker ETFs™ and Floor ETFs.
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. 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 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 over $143 billion in global assets as of June 30, 2020.
Milliman FRM is one of the largest and fastest-growing subadvisors
of ETFs. For more information about Milliman FRM, visit
Milliman.com/FRM.
Media ContactPaul Damon+1 (802)
999-5526paul@keramas.net
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.
While the Fund will not participate in any QQQ
or IWM ETF losses, as applicable, over the duration of the Outcome
Period as whole, a decrease in the value in the net performance of
the underlying assets’ share price will cause a decrease in the
Fund’s NAV while an Outcome Period is ongoing. 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.
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.
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™, Accelerated Plus ETF™
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 as of 3.31.2021.2 AUM in all Innovator Defined Outcome
ETFs as of 3.31.2021.3 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 Growth Acceler... (AMEX:XDQQ)
Historical Stock Chart
From Jul 2024 to Aug 2024
Innovator Growth Acceler... (AMEX:XDQQ)
Historical Stock Chart
From Aug 2023 to Aug 2024