Innovator Equity Dual Directional 15 Buffer ETF - July

The Innovator Equity Dual Directional 15 Buffer ETF - July is an exchange-traded fund designed to provide sophisticated risk-managed exposure to broad U.S. equities. This ETF aims to deliver the potential for positive returns both when equity markets rise and during certain periods of market decline over a defined one-year outcome period. Its innovative structure uses a series of options strategies to achieve a dual directional profile: in rising markets, the fund seeks to match the gains of its underlying reference asset (the SPDR S&P 500 ETF Trust) up to a specified cap, while in declining markets, it is structured to produce positive returns if the decline falls within a pre-set buffer range, specifically up to a 15% drop, before fees and expenses. If the reference asset finishes the period down by 15% or less, the ETF can finish up by a corresponding amount. Investors benefit from features typical of ETFs, such as daily liquidity, transparency, and tax efficiency. The fund is part of a new class of Defined Outcome ETFs developed to offer investors a transparent alternative to traditional structured products, addressing demand for solutions that can navigate both upward and downward market environments with more predictable outcomes.