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  1. Innovator Announces New Upside Caps for 2023
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Innovator Announces New Upside Caps for 2023

James ComtoisJan 03, 2023
2023-01-03

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
TickerETF NameUpside Cap*Reference AssetUpside/DownsideOutcome Period
BJANU.S. Equity Buffer ETF25.06%SPY1x/1x + 9% Buffer**12 mos
PJANU.S. Equity Power Buffer ETF18.84%SPY1x/1x + 15% Buffer12 mos
UJANU.S. Equity Ultra Buffer ETF16.40%SPY1x/1x + 30% (-5 to -35%) Buffer12 mos
NJANGrowth-100 Power Buffer ETF21.57%QQQ1x/1x + 15% Buffer12 mos
KJANU.S. Small Cap Power Buffer ETF21.54%IWM1x/1x + 15% Buffer12 mos
IJANIntl Developed Power Buffer ETF22.51%EFA1x/1x + 15% Buffer12 mos
EJANEmerging Markets Power Buffer ETF24.56%EEM1x/1x + 15% Buffer12 mos
BALTDefined Wealth Shield ETF2.64%SPY1x/1x + 20% Buffer***3 mos
TFJL20+ Year Treasury Bond 5 Floor ETF7.85%TLT1x/1x + 5% Floor****3 mos
TSLHHedged TSLA Strategy ETF8.99%TSLA1x/1x + 10% Floor****3 mos
INNOVATOR ACCELERATED ETFS
TickerETF NameUpside Cap*Reference AssetUpside/DownsideOutcome Period
XBJAU.S. Equity Accelerated 9 Buffer ETF18.18%SPY2x/1x + 9% Buffer12 mos
XDJAU.S. Equity Accelerated ETF24.98%SPY2x/1x12 mos
XTJAU.S. Equity Accelerated Plus ETF23.13%SPY3x/1x12 mos
QTJAGrowth Accelerated Plus ETF26.34%QQQ3x/1x12 mos
XDSQU.S. Equity Accelerated ETF10.60%SPY2x/1x3 mos
XDQQGrowth Accelerated ETF12.30%QQQ2x/1x3 mos
INNOVATOR STACKER ETFS
TickerETF NameUpside Cap*Reference AssetUpside/DownsideOutcome Period
TSJATriple Stacker ETF23.13%SPY + QQQ + IWM1x/1x SPY12 mos
DSJADouble Stacker ETF24.68%SPY + QQQ1x/1x SPY12 mos
DBJADouble Stacker 9 Buffer ETF18.12%SPY + QQQ1x/1x + 9% Buffer12 mos


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“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.

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