Innovator ETFs Trust - Innovator Equity Dual Directional 15 Buffer ETF - September
DDFS
Chicago Board Options Exchange- -
USD
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Capital Structure
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 200 W. Front Street Wheaton IL United States of America 60187
- IPO Date
- Sep 2, 2025
- CIK
- 0001415726
- Similar Companies
- Business
- Innovator ETFs Trust—Innovator Equity Dual Directional 15 Buffer ETF—September (Cboe BZX: DDFS) is an actively managed, U.S.-domiciled exchange-traded fund that employs a defined-outcome strategy designed to provide capital appreciation linked to the price performance of the State Street SPDR S&P 500 ETF Trust, subject to predetermined outcome parameters. The Fund invests principally in FLEX Options referencing the SPDR S&P 500 ETF Trust and may invest directly in the underlying ETF or its component securities; under normal conditions, it invests at least 80% of net assets, plus borrowings for investment purposes, in investments providing such exposure. It seeks to capture positive S&P 500 ETF price returns up to an annually established upside cap; generate positive returns equal to the absolute value of reference-asset declines of up to 15%, subject to a 15% inverse-performance cap; and, if reference-asset losses exceed 15%, limit losses by a 15% buffer while remaining exposed one-for-one to further declines. The Fund’s outcome structure resets annually for the September 1 through August 31 outcome period, and its targeted outcomes are intended for shareholders who hold shares throughout the full period. DDFS was listed on Cboe BZX on September 2, 2025, carries a 0.79% annual management fee, is advised by Innovator Capital Management LLC and sub-advised by Milliman Financial Risk Management LLC, and is a series of Innovator ETFs Trust, headquartered in Wheaton, Illinois. In its latest operational update, DDFS rebalanced on September 1, 2026 for the September 1, 2026 through August 31, 2027 outcome period, establishing a 10.51% gross upside cap, a 15.00% gross inverse-performance cap and a 15.00% gross buffer, with outcome parameters reduced by fees and expenses. Innovator Capital Management became an indirect wholly owned subsidiary of The Goldman Sachs Group, Inc. following GSAM Holdings LLC’s completion of its acquisition of Innovator on April 1, 2026; the change in control resulted in a new investment-management agreement for DDFS becoming effective on the same date.