Innovator U.S. Equity Ultra Buffer ETF - April

Innovator U.S. Equity Ultra Buffer ETF - April is an actively managed exchange-traded fund designed to provide exposure to the return of an S&P 500 ETF with a defined-outcome profile. The fund uses FLEX options tied to the S&P 500 Price Return Index to target upside participation up to a stated cap while buffering investors against a range of losses over its annual outcome period. It resets each April and can be held indefinitely, with the outcome profile renewing at the end of each cycle. The fund is structured for investors seeking broad U.S. large-cap equity market exposure with a rules-based buffer and cap mechanism rather than direct ownership of individual stocks. Its portfolio is centered on derivatives and collateral, making it a specialized tool within the U.S. equity ETF market for managing market exposure with predefined risk parameters.