Innovator U.S. Equity Buffer ETF
BMAY
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
- May 1, 2020
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Capital Management, LLC (Innovator) manages the Innovator U.S. Equity Buffer ETF - May (BMAY), an actively managed exchange-traded fund that seeks to track the price return of the S&P 500 Index (through the SPDR S&P 500 ETF Trust) up to a predetermined outcome period cap, while providing a buffer against the first 9% of losses in the reference asset over a one-year outcome period ending in May each year; the fund holds FLEX Options on the S&P 500 and collateral primarily consisting of cash equivalents and U.S. Treasuries. Innovator offers a broad suite of Defined Outcome ETFs, including additional U.S. Equity Buffer ETF series with varying buffer levels (such as 9%, 15%, and 30% buffers) and outcome periods tied to the S&P 500; Defined Income ETFs for generating high monthly income with exposure to equity volatility; Defined Protection ETFs for downside protection strategies; and laddered or power buffer variants across large-cap equity benchmarks. The firm serves institutional investors, financial advisors, and retail clients seeking risk-managed equity exposure with predictable outcomes, primarily targeting the U.S. market through listings on the Cboe BZX Exchange. Headquartered in Wheaton, Illinois, Innovator was founded in 2017 by industry veterans Bruce Bond and John Southard, former co-founders of PowerShares ETFs, and pioneered the world's first Defined Outcome ETFs with the launch of its initial Buffer ETFs in August 2018; as of September 30, 2025, the firm manages approximately $28 billion in assets across more than 150 ETFs, establishing leadership in the defined outcome asset management segment. In a major strategic development announced on December 1, 2025, Goldman Sachs agreed to acquire Innovator for approximately $2 billion in a cash-and-equity transaction expected to close in the second quarter of 2026, pending regulatory approval; this deal will integrate Innovator's defined outcome ETF platform into Goldman Sachs Asset & Wealth Management, expanding the combined entity's ETF offerings to over 215 strategies and more than $75 billion in assets under supervision while enhancing capabilities in high-growth, risk-managed active ETFs. The acquisition reflects surging demand for buffer and outcome-oriented products amid market volatility, positioning the post-merger entity among the top ten global active ETF providers. BMAY, launched on April 30, 2020, continues to operate under Innovator with a net expense ratio of 0.79% and total net assets of approximately $157 million as of late 2025.