Innovator ETFs Trust - Innovator Equity Dual Directional 15 Buffer ETF - July
DDFL
Chicago Board Options Exchange- -
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Jul 1, 2025
- CIK
- 0001415726
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Equity Dual Directional 15 Buffer ETF – July is a U.S.-domiciled, actively managed exchange-traded fund series of Innovator ETFs Trust that seeks to provide shareholders holding shares for an entire annual outcome period with the potential for positive returns in both rising equity markets and certain declining equity markets. The fund provides defined-outcome exposure to the price performance of the SPDR S&P 500 ETF Trust through a portfolio of flexible exchange-traded options (FLEX Options) and related cash or cash-equivalent positions; participates in positive reference-asset returns up to a stated upside cap; seeks to generate positive returns when the reference asset declines by up to its inverse-performance threshold; and provides a 15% buffer against reference-asset losses beyond that threshold, before fees and expenses. DDFL resets its outcome parameters annually each July and may be held indefinitely, although the stated outcome profile is intended for investors who acquire and hold shares throughout the applicable outcome period. The fund generally invests at least 80% of net assets, plus borrowings for investment purposes, in investments providing exposure to the SPDR S&P 500 ETF Trust; it is non-diversified and primarily serves U.S. investors seeking capped-upside, buffered, and dual-directional equity-market exposure. The fund trades on Cboe BZX under the ticker DDFL, carries a 0.79% expense ratio, was formed on June 30, 2025, and commenced trading on July 1, 2025. Innovator Capital Management LLC, headquartered in Wheaton, Illinois, serves as investment adviser, and Milliman Financial Risk Management LLC serves as co-manager. The fund’s principal recent strategic development was its July 2025 launch as part of Innovator’s initial Dual Directional Buffer ETFs lineup, which Innovator described as the industry’s first such ETF category. For the outcome period from July 1, 2026 through June 30, 2027, DDFL reset with a 10.95% starting upside cap, a 15% starting inverse cap, and a 15% starting buffer, reflecting its recurring annual defined-outcome structure.