Innovator Equity Defined Protection ETF - 6mo Jan/Jul (JAJL)

Innovator Equity Defined Protection ETF - 6mo Jan/Jul is a defined outcome fund from Innovator ETFs that seeks to track the price return of the SPDR S&P 500 ETF Trust up to a cap, while aiming to protect against all losses over a six-month outcome period.

The fund uses FLEX options on the S&P 500 ETF to build a structure with full downside protection and capped upside. Outcome periods run from January to July and from July to January, with a new cap set at each reset. The defined outcomes apply to investors who buy at the start of a period and hold until its end, and the fund does not participate in dividends paid by the underlying stocks.