Innovator ETFs Trust - Innovator Equity Defined Protection ETF - 2 Yr to July 2028
AJUL
Chicago Board Options Exchange- -
USD
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Jul 1, 2024
- CIK
- 0001415726
- Similar Companies
- Business
- Innovator ETFs Trust – Innovator Equity Defined Protection ETF – 2 Yr to July 2028 is an actively managed, non-diversified U.S. exchange-traded fund that seeks to provide defined-outcome exposure to the performance of an S&P 500-linked ETF over approximately two-year investment periods. The Fund, which trades on Cboe BZX under the ticker AJUL and was listed on July 1, 2024, is a series of Innovator ETFs Trust. It is advised by Innovator Capital Management, LLC and sub-advised by Milliman Financial Risk Management LLC, with Innovator ETFs distributed by Foreside Fund Services, LLC. The Fund operates in the United States and is associated with Innovator ETFs, whose operations are based in Wheaton, Illinois. The Fund offers equity defined-protection investment exposure through a defined outcome strategy; FLEX Options referencing an ETF designed to track the S&P 500 Index; direct investments, when applicable, in the reference ETF or its constituent securities; capped upside participation in U.S. large-cap equity-market performance; and targeted downside buffering for shareholders that remain invested for the complete outcome period. Under normal circumstances, it invests at least 80% of net assets, plus borrowings for investment purposes, in investments providing exposure to the State Street SPDR S&P 500 ETF Trust. Its portfolio may use purchased and written call FLEX Options, purchased put FLEX Options, and shares of the underlying ETF to establish its prescribed payoff profile. FLEX Options are customizable, exchange-traded options guaranteed for settlement by the Options Clearing Corporation. AJUL’s current outcome period runs from July 1, 2026 through June 30, 2028. For investors holding shares for the entire period, the Fund seeks to match positive performance of the underlying S&P 500 ETF up to an 18.32% gross cap, or approximately 16.74% after the stated annual management fee, while seeking to buffer 100% of underlying ETF losses before fees and expenses; the stated net buffer is approximately 98.42% after the 0.79% annual management fee. The Fund resets its option portfolio and establishes a new cap at the end of each two-year outcome period; outcomes are not guaranteed, may differ materially for investors who purchase or sell shares during an outcome period, and remain subject to market, derivatives, liquidity, valuation, management, underlying ETF and capped-upside risks. The principal recent change occurred on July 1, 2026, when the Fund completed its scheduled two-year rebalance, commenced its July 2026–June 2028 outcome period, reset its defined-outcome portfolio and cap, and changed its name from Innovator Equity Defined Protection ETF – 2 Yr to July 2026 to Innovator Equity Defined Protection ETF – 2 Yr to July 2028. The revised strategy terms set the new 18.32% gross upside cap and continued the targeted 100% gross downside buffer, with the Fund maintaining its continuous-vehicle structure rather than liquidating at the end of the prior outcome period.