Innovator Equity Defined Protection ETF - 2 Yr to January 2027

Innovator Equity Defined Protection ETF - 2 Yr to January 2027 is an actively managed exchange-traded fund designed to provide exposure to U.S. large-cap equities through the SPDR S&P 500 ETF Trust. The fund uses FLEX options to seek participation in the S&P 500’s price return up to a predefined cap while aiming to buffer the first 100% of losses over its two-year outcome period, before fees and expenses. This structure places it within Innovator’s defined outcome lineup, where the payoff profile is established at the start of the period and reset on the series schedule. The ETF is used by investors looking for a rules-based equity strategy that combines capped upside potential with downside protection features in a single portfolio vehicle. It focuses on broad U.S. market exposure and is commonly classified in the large-cap, defined outcome category.