ETF Issuer behind the world’s first Defined Outcome ETFs and 100% Buffer ETFs expands its suite after gathering more than $350M in AUM
CHICAGO, June 17, 2024 (GLOBE NEWSWIRE) — Innovator Capital Management, LLC (Innovator), pioneer and provider of the largest lineup of Defined Outcome ETFs™, today announced cap ranges on three new 100% Buffer ETFs™ set to launch July 1st.
Each of the ETFs are designed to provide 100% downside protection with a defined upside to the S&P 500 ETF over a 6-month, 1-year, or 2-year outcome period. Innovator, which launched the industry’s first ever 100% Buffer ETF (TJUL) in July of 2023, manages the industry’s largest 100% Buffer ETF™ suite.
100% Buffer ETFs Listing 7/1
| Fund Name | Ticker | SEC Filing | Cap Range1 |
| Equity Defined Protection ETF – 6mo Jan/Jul | JAJL | Filing | 4.82% to 5.08% |
| Equity Defined Protection ETF – 1 Yr July | ZJUL | Filing | 9.23% to 9.68% |
| Equity Defined Protection ETF – 2 Yr to July 2026 | AJUL | Filing | 18.01% to 19.29% |
Innovator’s Equity Defined Protection ETF™ – 6 mo Jan/Jul (JAJL) will be the industry’s first ETF to offer investors 100% downside protection over a 6-month outcome period. JAJL’s 6-month cap range represents the potential to significantly outperform cash or short-term bonds, without taking on downside risk. Its ability to deliver tax-deferred growth offers a significant advantage over cash or short-term bonds that get taxed at ordinary income rates.
“Advisors are struggling to deal with client cash allocations near 30%. Our 100% Buffer ETFs offer a strategy to get this cash off the sidelines by offering 100% downside protection in the event of a market downturn, and upside potential if the market rises. These ETFs also may provide investors with significant tax advantages compared to cash or bonds. Overall, we believe investors are anxious about entering the market at all-time highs, but are also missing out on the market’s persistent gains,” said Graham Day, CIO at Innovator ETFs. “After launching TJUL, the industry’s first 100% Buffer ETF™, we remain eager and enthusiastic about expanding our lineup and extending our leadership in the space.”
Beyond the three 100% Buffer ETFs listing on July 1, Innovator has filed and intends to list another eight 100% Buffer ETFs™.
1. The estimated cap range is based on the 21 trading days prior to June 14th and is shown gross of the fund’s management fee. The cap for each Fund will be set at the beginning of the Outcome Period, and is dependent upon market conditions at that time. Periods of high market volatility could result in higher values, and lower volatility could result in lower values.
The Funds are designed to provide equity upside, to a cap, with a 100% downside buffer against SPDR S&P 500 ETF losses, over a six-month, one-year, or two-year outcome period, before fees and expenses.
JAJL, ZJUL, AND AJUL ARE NOT YET AVAILABLE FOR TRADING. CLICK THE LINK IN THE TABLE ABOVE FOR THE LATEST SEC FILING. INFORMATION CONTAINED HEREIN IS SUBJECT TO COMPLETION OR AMENDMENT. THE FUND HAS FILED A REGISTRATION STATEMENT WITH THE SECURITIES AND EXCHANGE COMMISSION BUT IT IS NOT YET EFFECTIVE. AN INVESTMENT IN THE FUND CANNOT BE MADE, NOR MONEY ACCEPTED, UNTIL THE REGISTRATION STATEMENT IS EFFECTIVE. AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, AND CHARGES AND EXPENSES OF THE FUND CAREFULLY BEFORE INVESTING. THE PRELIMINARY PROSPECTUS CONTAINS THIS AND OTHER INFORMATION ABOUT THE FUND AND MUST PRECEDE OR ACCOMPANY THIS COMMUNICATION. THE INFORMATION IN THE PRELIMINARY PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. THE FINAL PROSPECTUS SHOULD BE READ CAREFULLY BEFORE INVESTING. THE FINAL PROSPECTUS, WHEN AVAILABLE, MAY BE OBTAINED BY [CALLING [TELEPHONE NUMBER]/VISITING [WEB ADDRESS]]. THIS COMMUNICATION IS NOT AN OFFER TO SELL FUND SHARES AND IS NOT SOLICITING AN OFFER TO BUY FUND SHARES IN ANY STATE WHERE THE OFFER OR SALE IS NOT PERMITTED.
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 Fund is right for you, please see “Investor Suitability” in the prospectus.
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 detailed list of fund risks see the prospectus.
There is no guarantee the Fund will be successful in providing the sought-after protection. If the Outcome Period has begun and the Underlying ETF has increased in value, any appreciation of the Fund by virtue of increases in the Underlying ETF since the commencement of the Outcome Period will not be protected by the Buffer, and an investor could experience losses until the Underlying ETF returns to the original price at the commencement of the Outcome Period.
Fund shareholders are subject to an upside return cap (the “Cap”) that represents the maximum percentage return an investor can achieve from an investment in the funds’ for the Outcome Period, before fees and expenses. If the Outcome Period has begun and the Fund has increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one Outcome Period to the next. The Cap, and the Fund’s position relative to it, should be considered before investing in the Fund. The Fund’s website, www.innovatoretfs.com, provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.
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.
FLEX Options Risk The Fund 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.
Investing involves risk. Principal loss is possible. Innovator ETFs are distributed by Foreside Fund Services, LLC.
The Fund’s investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus and summary prospectus contain this and other important information, and it may be obtained at innovatoretfs.com. Read it carefully before investing.
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.
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