Innovator U.S. Equity Buffer ETF
BDEC
Chicago Board Options Exchange- -
USD
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- -
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
- Dec 2, 2019
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator U.S. Equity Buffer ETF - December (BDEC) is an exchange-traded fund that seeks to track the price return of the S&P 500 Index, up to a predetermined cap, while providing a buffer against the first 9% of losses of the S&P 500 Price Return Index (underlying ETF: SPDR S&P 500 ETF Trust) over a defined outcome period of approximately one year ending in December; the buffer applies only to investors holding shares for the full outcome period, with potential for further downside exposure beyond the buffer, and the fund resets its outcome period annually. Issued by Innovator ETFs Trust and managed by Innovator Capital Management, LLC, BDEC employs a laddered FLEX options strategy to achieve its defined outcomes, including FLEX call and put options on the SPY; it operates within the broader Innovator suite of Defined Outcome ETFs, which encompasses Buffer ETFs, Floor ETFs, and related products offering varying buffer levels (9% to 30%), cap levels, and reference assets across U.S. equity, international equity, and fixed income segments. The fund targets individual investors, financial advisors, and institutional clients seeking risk-managed exposure to large-cap U.S. equities with built-in downside protection and upside participation up to the cap; it lists on the Cboe BZX Exchange with an expense ratio of 0.79% and assets under management of approximately $189 million as of recent data. Innovator Capital Management, LLC, founded in 2017 and headquartered in Wheaton, Illinois, pioneered the world's first Defined Outcome ETFs with the launch of its initial Buffer ETF series in 2018; the firm manages over $28 billion in assets across more than 150 ETFs as of September 30, 2025, distributed through channels serving retail, advisory, and institutional investors primarily in the United States. In a major strategic development announced on December 1, 2025, Goldman Sachs agreed to acquire Innovator Capital Management for approximately $2 billion in a cash-and-equity transaction expected to close in the second quarter of 2026, pending regulatory approval; this deal positions the combined entity as a leader in defined outcome ETFs, integrating Innovator's 60-plus employees and product platform into Goldman Sachs Asset Management's Third-Party Wealth and ETF teams while retaining existing investment managers. Recent innovations include expansions of the Dual Directional Buffer ETF range in October 2025 and ongoing additions to the ETF lineup, such as new buffer levels and tenors, alongside growth in Managed Floor ETFs launched in partnership with Parametric in 2022.