Innovator Nasdaq-100 Managed 10 Buffer ETF (NBFR)

The Innovator Nasdaq-100 Managed 10 Buffer ETF is a defined outcome fund from Innovator ETFs linked to the Nasdaq-100 Index. It seeks to provide exposure to the index while limiting losses through a buffer of roughly 10% against declines, in exchange for a cap on upside participation.

Unlike Innovator's single-period buffer funds, this managed version is designed to maintain its buffer on an ongoing basis by holding and periodically rolling a series of options positions, so investors are not tied to a specific annual start date. The fund uses options on the Nasdaq-100 or on an ETF tracking it to build its payoff. It trades on NYSE Arca.