Innovator U.S. Small Cap Power Buffer ETF - January

Innovator U.S. Small Cap Power Buffer ETF - January is an actively managed exchange-traded fund designed to provide exposure to U.S. small-cap equities through the iShares Russell 2000 ETF. The fund uses options-based strategies to seek participation in the underlying market’s price return up to a predetermined cap while aiming to buffer the first 15% of losses over a one-year outcome period that begins each January. It is part of Innovator Capital Management’s defined outcome ETF suite, which focuses on shaping return profiles for investors seeking small-cap equity exposure with a structured downside buffer. The portfolio is centered on FLEX options and collateral, and the fund resets its outcome parameters annually. Innovator U.S. Small Cap Power Buffer ETF - January serves as a specialized tool within the U.S. equity market for investors looking for a rules-based approach to small-cap participation.