Innovator ETFs Trust – Innovator Equity Dual Directional 10 Buffer ETF – March is an actively managed, U.S.-domiciled exchange-traded fund designed to provide defined investment outcomes linked to the price performance of the SPDR S&P 500 ETF Trust. The fund seeks capital appreciation over annual March-to-February outcome periods through a dual-directional strategy that participates in positive SPDR S&P 500 ETF Trust returns up to a predetermined upside cap; provides positive returns equal to the absolute value of underlying losses when such losses are at or below a specified inverse-performance threshold; and buffers losses beyond that threshold, before fees and expenses. The fund principally uses exchange-traded FLEX Options on the SPDR S&P 500 ETF Trust, along with cash and other collateral instruments, to implement its investment strategy.
The Innovator Equity Dual Directional 10 Buffer ETF – March offers investors exposure to U.S. large-cap equities through a defined-outcome structure featuring a 10% buffer and a 10% inverse-performance threshold for the March 1, 2026 through February 28, 2027 outcome period; gains are subject to a starting upside cap of 13.70%, before fees and expenses. The fund resets its outcome parameters annually, may be held indefinitely, trades on Cboe BZX under the ticker DDTM, and charges a 0.79% expense ratio. Its target customers include individual and institutional investors, financial advisers, and wealth-management platforms seeking equity-market participation with predetermined risk-management characteristics.
The fund is a series of Innovator ETFs Trust and is managed by Innovator Capital Management, LLC, with Milliman Financial Risk Management LLC serving as co-manager. Innovator ETFs Trust is associated with Innovator Capital Management, a Wheaton, Illinois-based defined-outcome ETF sponsor founded in 2017. The trust’s product offering includes ETFs intended to provide buffered downside exposure, capped upside participation, income-oriented strategies, and other outcome-based investment profiles for U.S. investors.
A recent major development is the fund’s formation on February 28, 2026 and listing on March 2, 2026, representing the March-series expansion of Innovator’s Equity Dual Directional Buffer ETF platform. DDTM follows Innovator’s July 2025 launch of its Dual Directional Buffer ETF strategy and subsequent series expansions, broadening the sponsor’s calendar-based lineup of annual defined-outcome ETFs.