Innovator Equity Defined Protection ETF - 1 Yr May

Innovator Equity Defined Protection ETF - 1 Yr May is an actively managed exchange-traded fund designed to provide defined outcome exposure to U.S. large-cap equities through the S&P 500. The fund uses FLEX options to seek participation in market upside up to a predetermined cap while aiming to buffer 100% of underlying losses over a one-year outcome period, before fees and expenses. It is part of Innovator’s defined protection lineup and is structured for investors looking for a rules-based way to access equity market exposure with built-in downside protection features. The ETF resets its cap and buffer annually for its May-to-April outcome cycle, making it a specialized tool within the broader U.S. equity market for managed exposure to large-cap stock performance. Innovator Equity Defined Protection ETF - 1 Yr May focuses on capital market participation with a protection framework rather than traditional passive index replication.