Innovator U.S. Equity Buffer ETF
BAUG
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Aug 6, 2019
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator ETFs Trust - Innovator U.S. Equity Buffer ETF - August (BAUG) is an exchange-traded fund that seeks to track the price return of the SPDR S&P 500 ETF Trust (SPY), up to a predetermined upside cap typically around 15.80% before fees, while providing a buffer against the first 9% of losses over an approximately one-year outcome period; the fund invests substantially all of its assets in FLEX Options on the S&P 500 Price Index, with shareholders bearing all losses exceeding the buffer on a one-to-one basis after fees, transaction costs, and expenses. Launched in July 2019 as part of Innovator Capital Management, LLC's pioneering Defined Outcome ETF suite, BAUG belongs to a broader portfolio of structured ETFs offering targeted growth, income, buffer, and downside protection strategies across equity, fixed income, and international markets; these products cater to financial advisors, institutional investors, and retail clients seeking risk-managed exposure to benchmarks like the S&P 500. The fund operates within the U.S. large-cap equity segment, with holdings primarily in U.S. stocks via options (approximately 94.71% allocation), cash collateral, and minimal non-U.S. exposure; it is distributed through Foreside Fund Services, LLC, and listed on the Cboe BZX Exchange. Headquartered in Wheaton, Illinois, Innovator Capital Management, LLC, the investment adviser and pioneer of Defined Outcome ETFs since its founding in 2017 by industry veterans Bruce Bond and John Southard (former PowerShares executives), manages approximately $28 billion in assets across 159 ETFs as of September 30, 2025; the firm emphasizes innovative, predictable investment outcomes previously limited to annuities and structured notes, with operations focused on the U.S. market and no reported subsidiaries or parent affiliations prior to recent developments. In a transformative strategic shift announced on December 1, 2025, Goldman Sachs agreed to acquire Innovator Capital Management for approximately $2 billion in a deal expected to close in Q2 2026, significantly expanding Goldman Sachs Asset & Wealth Management's ETF offerings with Innovator's defined outcome capabilities, including BAUG, and positioning the combined entity among the top global ETF providers; this acquisition follows steady AUM growth to $22.3-$28 billion amid rising demand for buffer strategies amid market volatility. Recent SEC filings reflect ongoing passive investment activity by institutions like Brookstone Capital Management in Innovator ETFs, including related buffer products, underscoring sustained product interest without additional BAUG-specific launches, partnerships, or reorganizations noted in the past 1-2 years.