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

Innovator U.S. Small Cap Power Buffer ETF - July is an exchange-traded fund designed to provide exposure to U.S. small-cap equities through a defined-outcome strategy. The fund seeks to track the price return of the iShares Russell 2000 ETF, up to a predetermined cap, while buffering the first 15% of losses over each annual outcome period. To implement this approach, it primarily uses FLEX Options linked to the Russell 2000 Price Index and holds collateral to support the strategy. The ETF is structured for investors seeking a rules-based small-cap allocation with built-in downside buffering and capped upside participation. Innovator U.S. Small Cap Power Buffer ETF - July is part of Innovator’s series of outcome-oriented ETFs focused on U.S. equity market exposure.