Innovator Capital Management announced the new upside caps and return profiles for the 14 ETFs in the January series of the sponsors’ Defined Outcome ETFs lineup, as well as the five quarterly resetting ETFs that rebalanced at the end of the month. The resetting ETFs span Innovator’s Defined Outcome ETF lineup, including Buffer ETFs, Accelerated ETFs, and Floor ETFs.
Return profiles for the Defined Outcome ETFs – January annual and quarterly series – with outcome periods as of 1/01/23:
| INNOVATOR BUFFER & FLOOR ETFS | ||||||
|---|---|---|---|---|---|---|
| Ticker | ETF Name | Upside Cap* | Reference Asset | Upside/Downside | Outcome Period | |
| BJAN | U.S. Equity Buffer ETF | 25.06% | SPY | 1x/1x + 9% Buffer** | 12 mos | |
| PJAN | U.S. Equity Power Buffer ETF | 18.84% | SPY | 1x/1x + 15% Buffer | 12 mos | |
| UJAN | U.S. Equity Ultra Buffer ETF | 16.40% | SPY | 1x/1x + 30% (-5 to -35%) Buffer | 12 mos | |
| NJAN | Growth-100 Power Buffer ETF | 21.57% | QQQ | 1x/1x + 15% Buffer | 12 mos | |
| KJAN | U.S. Small Cap Power Buffer ETF | 21.54% | IWM | 1x/1x + 15% Buffer | 12 mos | |
| IJAN | Intl Developed Power Buffer ETF | 22.51% | EFA | 1x/1x + 15% Buffer | 12 mos | |
| EJAN | Emerging Markets Power Buffer ETF | 24.56% | EEM | 1x/1x + 15% Buffer | 12 mos | |
| BALT | Defined Wealth Shield ETF | 2.64% | SPY | 1x/1x + 20% Buffer*** | 3 mos | |
| TFJL | 20+ Year Treasury Bond 5 Floor ETF | 7.85% | TLT | 1x/1x + 5% Floor**** | 3 mos | |
| TSLH | Hedged TSLA Strategy ETF | 8.99% | TSLA | 1x/1x + 10% Floor**** | 3 mos | |
| INNOVATOR ACCELERATED ETFS | ||||||
| Ticker | ETF Name | Upside Cap* | Reference Asset | Upside/Downside | Outcome Period | |
| XBJA | U.S. Equity Accelerated 9 Buffer ETF | 18.18% | SPY | 2x/1x + 9% Buffer | 12 mos | |
| XDJA | U.S. Equity Accelerated ETF | 24.98% | SPY | 2x/1x | 12 mos | |
| XTJA | U.S. Equity Accelerated Plus ETF | 23.13% | SPY | 3x/1x | 12 mos | |
| QTJA | Growth Accelerated Plus ETF | 26.34% | QQQ | 3x/1x | 12 mos | |
| XDSQ | U.S. Equity Accelerated ETF | 10.60% | SPY | 2x/1x | 3 mos | |
| XDQQ | Growth Accelerated ETF | 12.30% | QQQ | 2x/1x | 3 mos | |
| INNOVATOR STACKER ETFS | ||||||
| Ticker | ETF Name | Upside Cap* | Reference Asset | Upside/Downside | Outcome Period | |
| TSJA | Triple Stacker ETF | 23.13% | SPY + QQQ + IWM | 1x/1x SPY | 12 mos | |
| DSJA | Double Stacker ETF | 24.68% | SPY + QQQ | 1x/1x SPY | 12 mos | |
| DBJA | Double Stacker 9 Buffer ETF | 18.12% | SPY + QQQ | 1x/1x + 9% Buffer | 12 mos |
“Cap” refers to the maximum potential return, before fees and expenses and any shareholder transaction fees and any extraordinary expenses, if held over the full Outcome Period. The Caps above are shown gross of each fund’s management fee (.79% annually for all funds in the table above, except for BALT (.69% annual, .175% quarterly); IOCT (.85%); and EOCT (.89%)). Along with BALT, TFJL and TSLH operate on quarterly outcome periods and, at .79% annual fees, the funds carry .2% fees on a quarterly basis.
“Buffer” refers to the amount of downside protection the fund seeks to provide, before fees and expenses, over the full Outcome Period. Outcome Period is the intended length of time over which the defined outcomes are sought. Upon commencement of any fund’s Outcome Period, the Caps can be found on a daily basis via www.innovatoretfs.com
Although BALT targets a 20% buffer, the buffer may fall into a range of 15% to 20%; there is no guarantee that the buffer will be within this range or that the Fund will provide the buffer. The Upside Cap above is shown gross of the .175% quarterly (0.69% annual) management fee for BALT. Upon commencement of the Outcome Period, the remaining Cap and/or Buffer can be found on a daily basis via www.innovatoretfs.com
“Floor” refers to the projected maximum amount of loss an investor can expect to incur prior to the downside protection the fund seeks to provide, before fees and expenses, over the full Outcome Period. The Floor is only operative against Underlying share price losses exceeding approximately 5% for TFJL and 10% for TSLH over the duration of the Outcome Period. There is no guarantee that the Fund will be successful in its attempt to provide the Floor. If an investor is considering purchasing Shares during the Outcome Period, and the Fund has already increased in value, then a shareholder may experience losses prior to gaining the protection offered by the Floor, which is not guaranteed.
