Innovator U.S. Small Cap Power Buffer ETF - December (KDEC)

The Innovator U.S. Small Cap Power Buffer ETF - December (KDEC) is a defined-outcome fund from Innovator Capital Management. It seeks to provide returns tied to the iShares Russell 2000 ETF up to a cap, while buffering against the first 15% of losses over a one-year outcome period that begins in December.

The fund builds this payoff using FLexible EXchange options on the reference ETF, which tracks U.S. small-cap stocks. The upside cap is set at the start of each outcome period.

The buffer and cap are designed for investors who hold from the beginning to the end of the period. Each December, the fund resets with a new set of options and a new cap for the following year.