Innovator U.S. Equity Ultra Buffer ETF - July

Innovator U.S. Equity Ultra Buffer ETF - July is an exchange-traded fund designed to provide defined-outcome exposure to U.S. large-cap equities through options linked to the SPDR S&P 500 ETF Trust. The fund seeks to participate in the price return of the S&P 500 up to a predetermined cap while offering a buffer against a specified range of losses over its annual outcome period. This structure makes it part of the growing segment of options-based buffer ETFs used by investors seeking controlled market exposure rather than direct index tracking. The fund is managed by Innovator Capital Management and is built around a July outcome cycle, with the portfolio reset each year to establish new buffer and cap parameters. It focuses on the U.S. equity market and serves as a rules-based strategy within the broader ETF landscape.