Innovator Growth-100 Dual Directional 5 Buffer ETF

The Innovator Growth-100 Dual Directional 5 Buffer ETF is an exchange-traded fund designed to provide positive returns in both rising and certain declining equity markets over quarterly outcome periods. It references the Invesco QQQ Trust, Series 1 (QQQ), which tracks the Nasdaq-100 Index focused on large-cap growth stocks, particularly in technology and innovation sectors. Key features include an upside cap currently set at 4.69%, allowing participation in market gains up to that level, and a 5% buffer that protects against losses if QQQ declines up to that threshold within the 3-month period. If declines exceed the inverse performance threshold (aligned with the buffer), the ETF aims to deliver inverse returns equal to the absolute value of QQQ's price decrease, up to the buffer limit, while offering a buffer on larger losses. Launched by Innovator Capital Management on December 31, 2025, as part of the industry's first quarterly dual directional ETFs, it utilizes FLEX options for defined outcomes, daily liquidity, tax efficiency, and transparency. This structure supports adaptive risk management in volatile growth-oriented markets, with outcomes realized only for shares held through the full period.