Innovator International Developed Power Buffer ETF August (IAUG)

The Innovator International Developed Power Buffer ETF - August (IAUG) is a defined-outcome exchange-traded fund from Innovator Capital Management that seeks to track the price return of the iShares MSCI EAFE ETF (EFA), which holds large- and mid-cap stocks of developed markets outside North America, up to a cap.

The fund uses FLEX options to buffer against the first 15% of losses in EFA over a one-year outcome period that begins each August, in exchange for an upside cap that is reset at the start of each new period. The buffer and cap are designed for investors who hold shares for the full outcome period, and results can differ for those who buy or sell mid-period.

IAUG does not receive the dividends paid by EFA's holdings, since its exposure is based on price return.