Innovator Power Buffer Step-Up Strategy ETF

Innovator Power Buffer Step-Up Strategy ETF is an actively managed exchange-traded fund designed to provide risk-managed exposure to the SPDR S&P 500 ETF Trust through a monthly evaluated options-based strategy. The fund uses FLEX options to seek participation in S&P 500-linked market movements while aiming to buffer the first portion of losses and moderate upside exposure according to its managed outcome framework. It is structured as a single-ticker solution with a step-up approach that allows the portfolio to be reset before one-year option expirations when conditions call for adjustment. The ETF is positioned within the defined outcome and buffer strategy segment of the market, appealing to investors seeking packaged equity exposure with built-in risk-management features rather than direct index replication. The portfolio is primarily centered on option contracts tied to SPY, with cash and short-term holdings used to support the strategy.