Innovator Premium Income 15 Buffer ETF - April (LAPR)

The Innovator Premium Income 15 Buffer ETF - April is a defined outcome fund from Innovator Capital Management that targets income rather than equity growth. It seeks to pay a predetermined level of income over a one-year outcome period that resets each April.

The fund combines holdings of short-term U.S. Treasury securities with options on the S&P 500, effectively selling some of the market's upside in exchange for premium. It is structured to absorb the first 15 percent of losses in the reference index over the outcome period, with investors bearing losses beyond that level. Results apply to shares held for the entire period. The fund trades on Cboe BZX.