Innovator U.S. Equity Power Buffer ETF - May

Innovator U.S. Equity Power Buffer ETF - May is an actively managed exchange-traded fund that seeks to provide exposure to U.S. large-cap equities through the SPDR S&P 500 ETF Trust while using options to shape its return profile. The fund is designed to track the market’s upside up to a predetermined cap and to buffer the first 15% of losses over each annual outcome period. It is part of Innovator’s defined outcome ETF lineup and is structured to reset at the end of each period, allowing the strategy to be maintained over time. The portfolio primarily uses FLEX options and collateral to implement its buffered exposure, making it a specialized tool for investors seeking a rules-based approach to U.S. equity market participation. Innovator U.S. Equity Power Buffer ETF - May is used in portfolios that aim to combine broad S&P 500 exposure with a built-in downside buffer and capped upside potential.