Innovator Expands Defined Protection 100% Buffer ETF™ Suite with AAPR Following Market Demand

· ETF issuer behind the world’s largest lineup of Defined Outcome ETFs™ expands its 100% Buffer ETF™ suite by listing AAPR with an 18.00% upside cap over the outcome period.
· Innovator continues to grow its Defined Income ETF offerings with the launch of two Buffer Income ETFs designed to offer high defined distribution rates with built-in risk management.
· On April 1, Innovator offers 25 different opportunities to lock in refreshed payoff profiles across a range of strategies and market segments.CHICAGO, April 01, 2024 (GLOBE NEWSWIRE) -- Innovator Capital Management, LLC (Innovator), pioneer and provider of the industry’s largest lineup of Defined Outcome ETFs, today announced the launch of three Defined Outcome ETFs, expanding the firm’s existing lineup. The strategies include two Defined Income ETFs, and the third in its suite of Defined Protection ETFs.

Innovator’s newly launched Equity Defined Protection ETF (AAPR) is the third in its suite of Defined Protection ETFs, which has grown to more than $300 million in AUM since inception. The ETFs are designed to provide investors with market exposure up to a cap, and a 100% buffer against losses in the SPDR S&P 500 ETF, over a two-year outcome period, before fees and expenses. Unlike many insurance or bank products offering similar exposures, the Defined Protection ETFs are structured without credit risk, while also providing investors with valuable tax efficiency. Innovator intends to launch a new Defined Protection ETF at the start of each calendar quarter until the suite of eight ETFs is complete.

While investors continue to hold trillions of dollars on the sidelines in cash, Defined Protection ETFs are designed to provide defined exposure to the market’s upside potential, and defined protection against 100% of losses, over the outcome period.

Innovator is also announcing the starting caps and defined distribution rates for the 22 ETFs resetting in April.

The timely reset of these payoff profiles is occurring as equity markets are not only sitting at all-time highs, but are also hovering around the high end of their historical valuation range. In addition to a contentious Presidential election later this year, investors are also grappling with the uncertainty swirling around wars in Europe and the Middle East, and the Fed’s ongoing efforts to bring inflation under control without triggering an economic downturn.

“In the face of so much uncertainty, we’re finding that advisors and their clients are resonating with the predictability that Defined Outcome ETFs are designed to offer,” said Graham Day, CIO at Innovator ETFs. “Markets often climb a wall of worry; the potential for the market to fall doesn’t negate the potential for it to keep climbing. This is precisely the tension that Defined Outcome ETFs are built to address.”

The full list of ETFs resetting or listing on April 1 is below:

*New ETFs*
*Ticker* *Name* *Ref.
Asset* *Downside Profile* *Outcome Period* *Cap or Defined
Dist. Rate**
AAPR Equity Defined Protection SPY 100% Buffer 24 months 18.00%
HAPR Premium Income 9 Buffer SPY 9% Buffer 12 months 7.22%
LAPR Premium Income 15 Buffer SPY 15% Buffer 12 months 6.44%
*Rebalancing ETFs*
*Ticker* *Name* *Ref.
Asset* *Downside Profile* *Outcome Period* *Cap or Defined
Dist. Rate**
EALT U.S. Equity 5 to 15 Buffer SPY 10% (-5% to -15%) Buffer 3 months 8.06%
ZALT U.S. Equity 10 Buffer SPY 10% Buffer 3 months 3.64%
BALT Defined Wealth Shield SPY 20% Buffer 3 months 2.94%
BAPR U.S. Equity Buffer SPY 9% Buffer 12 months 18.32%
PAPR U.S. Equity Power Buffer SPY 15% Buffer 12 months 14.46%
UAPR U.S. Equity Ultra Buffer SPY 30% (-5% to -35%) Buffer 12 months 15.22%
KAPR U.S. Small Cap Power Buffer IWM 15% Buffer 12 months 18.45%
NAPR Growth-100 Power Buffer QQQ 15% Buffer 12 months 16.63%
EAPR Emerging Markets Power Buffer EEM 15% Buffer 12 months 16.62%
IAPR Intl Developed Power Buffer EFA 15% Buffer 12 months 16.80%
TFJL 20+ Year Treasury Bond 5 Floor TLT 5% Floor 3 months 14.85%
TSLH Hedged TSLA Strategy Tesla, Inc 10% Floor 3 months 10.25%
XBAP U.S. Equity Accelerated 9 Buffer SPY 2x/1x + 9% Buffer 12 months 12.86%
XDAP U.S. Equity Accelerated SPY 2x/1x 12 months 17.40%
XTAP U.S. Equity Accelerated Plus SPY 3x/1x 12 months 15.96%
QTAP Growth Accelerated Plus QQQ 3x/1x 12 months 20.16%
XDSQ U.S. Equity Accelerated SPY 2x/1x 3 months 6.48%
XDQQ Growth Accelerated QQQ 2x/1x 3 months 8.76%
APRD Premium Income 10 Barrier SPX 10% Barrier 12 months 8.50%
APRH Premium Income 20 Barrier SPX 20% Barrier 12 months 7.36%
APRJ Premium Income 30 Barrier SPX 30% Barrier 12 months 6.49%
APRQ Premium Income 40 Barrier SPX 40% Barrier 12 months 5.86%

*
The funds have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Funds is right for you, please see “Investor Suitability” in the prospectus.*

*The funds only seek to provide their investment objective, which is not guaranteed, over the course of an entire outcome period. Investors who purchase shares after or sell shares before the end of an outcome period will experience very different outcomes than the funds seek to provide.*

Buffer ETFs
*You will bear all reference asset losses exceeding the buffer. Depending upon market conditions at the time of purchase, a shareholder that purchases shares after the Outcome Period has begun may also lose their entire investment. For instance, if the Outcome Period has begun and the Fund has decreased in value beyond the pre-determined buffer, an investor purchasing shares at that price may not benefit from the buffer. Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing shares at that price may not benefit from the buffer until the Fund's value has decreased to its value at the commencement of the Outcome Period.*

The Funds seek to provide shareholders that hold Shares for the entire Outcome Period with a Buffer against the Underlying ETF losses during the Outcome Period. The Funds’ shareholders will bear all Underlying ETF losses exceeding the Buffer on a one-to-one basis. If the Outcome Period has begun and the Funds have decreased in value beyond the pre-determined Buffer, an investor purchasing Shares at that price may not benefit from the Buffer. Similarly, if the Outcome Period has begun and the Funds have increased in value, an investor purchasing Shares at that price may not benefit from the Buffer until the Funds’ values have decreased to their value at the commencement of the Outcome Period.

Income ETFs
The Funds seek to provide shareholders distribution payments (the “Defined Distributions”) that represent a U.S. dollar amount per Share payable by the Fund over an Outcome Period. Defined Distributions are comprised of (i) the income generated by the Fund’s investments in U.S. Treasuries with maturity dates on or about each Distribution Date, the majority with maturities on or about the final Distribution Date at the conclusion of the Outcome Period, and (ii) the premiums generated from the Fund’s FLEX Options positions that expire at the end of each Outcome Period. The Fund will establish an annualized payment rate (the “Defined Distribution Rate”) based upon the Fund’s net asset value (“NAV”) at the commencement of the Outcome Period, which is the percentage of Defined Distributions per Share over the Outcome Period.

These Funds are designed to provide point-to-point exposure to the price return of the Reference Asset via a basket of Flex Options. As a result, the ETFs are not expected to move directly in line with the Reference Asset during the interim period.

Investors purchasing shares after an outcome period has begun may experience very different results than funds’ investment objective. Following the initial outcome period, each subsequent outcome period will begin on the first day of the month the funds were incepted. After the conclusion of an outcome period, another will begin.

The Funds face numerous market trading risks, including active markets risk, authorized participation concentration risk, buffered loss risk, cap change risk, capped upside return risk, correlation risk, liquidity risk, management risk, market maker risk, market risk, non-diversification risk, operation risk, options risk, trading issues risk, upside participation risk and valuation risk. For a detail list of fund risks see the prospectus.

*FLEX Options Risk* The Funds will utilize FLEX Options issued and guaranteed for settlement by the Options Clearing Corporation (OCC). In the unlikely event that the OCC becomes insolvent or is otherwise unable to meet its settlement obligations, the Fund could suffer significant losses. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices. The values of FLEX Options do not increase or decrease at the same rate as the reference asset and may vary due to factors other than the price of reference asset.

The following marks: Accelerated ETFs®, Accelerated Plus ETF®, Accelerated Return ETFs®, Barrier ETF™, Buffer ETF™, Defined Outcome Bond ETF®, Defined Outcome ETFs™, Defined Protection ETF™, Define Your Future®, Enhanced ETF™, Floor ETF®, Innovator ETFs®, Leading The Defined Outcome ETF Revolution™, Managed Buffer ETFs®, Managed Outcome ETFs®, Step-Up™, Step-Up ETFs™, Target Protection ETF™ and all related names, logos, product and service names, designs, and slogans are the trademarks of Innovator Capital Management, LLC, its affiliates or licensors. Use of these terms is strictly prohibited without proper written authorization.

Investing involves risk, including the possible loss of principal.

The Funds’ investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus and summary prospectus contain this and other important information, and may be obtained at innovatoretfs.com. Read it carefully before investing.

Innovator ETFs are distributed by Foreside Fund Services, LLC.
Copyright © 2024 Innovator Capital Management, LLC

*Media Contact*
Frank Taylor / Stephanie Dressler
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