Innovator Equity Defined Protection ETF - 2 Yr to April 2027 (TAPR)

The Innovator Equity Defined Protection ETF - 2 Yr to April 2027 is a defined-outcome exchange-traded fund from Innovator ETFs. It uses FLEX options on the SPDR S&P 500 ETF Trust (SPY) to provide exposure to U.S. large-cap stocks with protection against losses over a two-year outcome period ending in April 2027.

The fund seeks to shield investors from the full amount of the reference fund's price decline over the outcome period, before fees, while capping upside participation at a level set at the start of the period. Investors who buy after the period begins may experience a different level of protection and upside. The fund trades on Cboe BZX.