Innovator Equity Defined Protection ETF - 2 Yr to April 2027

Innovator Equity Defined Protection ETF - 2 Yr to April 2027 is an exchange-traded fund designed to provide exposure to U.S. large-cap equities through options-based strategy tied to the SPDR S&P 500 ETF Trust. The fund seeks to deliver returns up to a predetermined upside cap while buffering investors against the first 100% of underlying losses over its two-year outcome period. It uses FLEX options to create a defined outcome profile that combines market participation with downside protection within the stated period. TAPR is structured for investors looking for a rules-based equity solution with a built-in return ceiling and a defined buffer, and it is reset on a bi-annual schedule. The fund is part of Innovator’s Defined Protection ETF lineup and focuses on delivering a pre-set risk-and-return framework rather than traditional stock selection.