Innovator U.S. Small Cap Power Buffer ETF - September (KSEP)

The Innovator U.S. Small Cap Power Buffer ETF - September is a defined outcome fund that provides exposure to U.S. small-cap stocks through options on the iShares Russell 2000 ETF, the widely followed small-cap benchmark fund.

Over a one-year outcome period that resets each September, the fund seeks to buffer investors against the first 15 percent of losses in the reference fund, in exchange for an upside cap on returns that is set at the start of each period. The buffer and cap apply to shares held for the full period, so results for investors who enter or exit midway can differ.

The fund is sponsored by Innovator Capital Management, a pioneer of buffer ETFs, and trades on Cboe BZX.