Innovator International Developed Managed 10 Buffer ETF (IBFR)

The Innovator International Developed Managed 10 Buffer ETF (IBFR) is a defined-outcome exchange-traded fund from Innovator Capital Management that seeks exposure to developed-market equities outside North America, typically referenced to the iShares MSCI EAFE ETF (EFA), with a buffer against losses.

The fund targets a buffer against roughly 10% of declines through option-based buffer positions that are managed on an ongoing basis rather than being tied to a single annual outcome period, so investors can buy at any time without tracking a specific start date. Upside participation is limited by caps on the underlying positions.