Innovator U.S. Equity Buffer ETF - April

Innovator U.S. Equity Buffer ETF - April is an exchange-traded fund designed to provide exposure to U.S. large-cap equities through the SPDR S&P 500 ETF Trust while using an options-based structure to limit downside risk and cap upside returns over a defined outcome period. The fund seeks to buffer the first 9% of losses during each annual cycle, then resets its targets at the end of the period. It is part of Innovator’s defined outcome ETF lineup and is structured for investors looking for systematic equity participation with explicit risk-management parameters. The portfolio primarily uses FLEX options and collateral to create its payoff profile, making it a specialized tool within the U.S. ETF market for managing market exposure with predefined return and loss thresholds.