Innovator Double Stacker 9 Buffer ETF – October
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ROIC.AI
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- Innovator Capital Management, LLC (Innovator) serves as an investment adviser and sponsor of actively managed exchange-traded funds (ETFs), specializing in defined outcome ETFs that utilize FLEX Options and other derivatives to deliver targeted investment outcomes, including buffered downside protection against the first 9% to 100% of losses, capped upside exposure to underlying indices such as the S&P 500 and Nasdaq-100, income generation, and managed floor strategies; core offerings encompass Buffer ETFs, Power Buffer ETFs, Laddered Buffer ETFs, Step-Up ETFs, Accelerated ETFs, Defined Income ETFs, Defined Outcome Bond ETFs, Barrier ETFs, Defined Protection ETFs, and autocallable income ETFs hedged by counterparties like Goldman Sachs and Citi. The firm targets financial advisors, institutions, and individual investors seeking risk-managed equity exposure, growth with income, and principal protection in volatile markets across U.S. equity, fixed income, and multi-asset segments. Innovator operates primarily in the United States, with products listed on major exchanges like NYSE Arca. Founded in 2017 and headquartered in Wheaton, Illinois, Innovator pioneered the Defined Outcome ETF category with the launch of the world's first Buffer ETFs in 2018, building on the legacy of co-founders Bruce Bond and John Southard, who previously established the PowerShares ETF lineup. The company manages approximately $28 billion in assets under supervision across 159 ETFs as of September 30, 2025, serving a diverse client base from universities to retirees. 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, subject to regulatory approval and performance targets; this deal will integrate Innovator's defined outcome capabilities into Goldman Sachs Asset Management, expanding the combined entity's ETF lineup to over 215 strategies and more than $75 billion in assets. Earlier in October 2025, Innovator launched new autocallable income ETFs structured via total return swaps with Goldman Sachs and Citi as hedging counterparties, marking its entry into the U.S. autocallable ETF segment. The Innovator Double Stacker 9 Buffer ETF – October (DBOC), which sought double upside exposure to SPY and QQQ with a 9% buffer on SPY losses over an annual outcome period, was liquidated on October 6, 2023, as part of a series of Stacker product closures.