Innovator U.S. Equity Buffer ETF
BSEP
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.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Sep 3, 2019
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Capital Management, LLC (Innovator) serves as an investment management firm specializing in defined outcome exchange-traded funds (ETFs) that provide investors with targeted upside potential on underlying equity indices, such as the S&P 500 via the SPDR S&P 500 ETF Trust (SPY), while offering buffers against initial losses over specific outcome periods; its core offerings include the U.S. Equity Buffer ETF suite, such as the Innovator U.S. Equity Buffer ETF - September (BSEP), which seeks to match SPY price returns up to an annual cap (e.g., 19.76% prior to fees) with protection against the first 9% of SPY losses if held for the full period, alongside related products like Equity Managed Floor ETFs, Dual Directional Buffer ETFs (e.g., DDTL, DDFL launched July 2025 and expanded October 2025), and laddered allocation buffers using FLEX Options for risk-managed equity exposure. The firm targets financial advisors, institutional investors, and individual clients seeking predictable outcomes in volatile markets, with products featuring net expense ratios around 0.79% and total assets under management exceeding $28 billion across over 150 ETFs as of late 2025. Innovator operates primarily in the United States, listing its ETFs on the Cboe BATS exchange. Founded in 2017 and headquartered in Wheaton, Illinois, Innovator was established by ETF industry pioneers Bruce Bond (CEO) and John Southard (President), building on their prior success with PowerShares Capital Management. The company pioneered the world's first Buffer ETFs in 2018, revolutionizing access to structured outcomes previously limited to annuities and over-the-counter products. In a transformative development announced December 1, 2025, Goldman Sachs Group, Inc. agreed to acquire Innovator for approximately $2 billion in cash and equity (subject to performance milestones), with the deal expected to close in Q2 2026; this will integrate Innovator as a wholly owned subsidiary under Goldman Sachs Asset Management, adding its 159 ETFs and over 60 employees to enhance active ETF capabilities and expand defined outcome solutions globally, while maintaining existing investment managers and service providers. Recent innovations include the July 2025 launch of the industry's first Dual Directional Buffer ETFs for potential gains in both up and down markets, and October 2025 expansions of that suite, underscoring Innovator's ongoing product leadership amid rapid AUM growth to $29 billion by November 2025.