Innovator Growth-100 Power Buffer ETF - August (NAUG)

The Innovator Growth-100 Power Buffer ETF - August is a defined outcome fund from Innovator ETFs that provides exposure to the Invesco QQQ Trust, which tracks the Nasdaq-100 Index. It seeks to buffer investors against the first 15% of losses in QQQ over a one-year outcome period that begins each August, in exchange for an upside cap on gains.

The fund achieves this payoff with a portfolio of FLexible EXchange (FLEX) options on QQQ. The cap is reset at the start of every new annual outcome period based on market conditions, and the stated buffer and cap apply only to shareholders who hold for the full period. It trades on Cboe BZX.