Innovator U.S. Equity Buffer ETF - November

Innovator U.S. Equity Buffer ETF - November is an exchange-traded fund that seeks to provide exposure to the price return of the SPDR S&P 500 ETF Trust through a defined outcome strategy. The fund is designed to deliver capped upside potential while buffering the first 9% of losses over each outcome period before fees and expenses. It resets annually in its November series, allowing the strategy to be held continuously across successive periods. The ETF uses options-based exposure to track large-cap U.S. equities, making it part of the defined outcome segment of the market. Innovator U.S. Equity Buffer ETF - November is used by investors seeking a rules-based structure for participating in broad U.S. equity market movements with a built-in downside buffer and a predetermined cap on gains.