Innovator U.S. Equity 5 to 15 Buffer ETF
EALT
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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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.Quarterly Dividends 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
- Oct 2, 2023
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Capital Management, LLC (Innovator) develops and manages defined outcome exchange-traded funds (ETFs) that seek to provide investors with targeted exposure to broad market performance, including upside participation up to a predefined cap while offering buffers against a portion of downside losses over specific outcome periods. The firm pioneered this strategy with its Defined Outcome ETFs product suite; core offerings include U.S. Equity Buffer ETFs (such as monthly, quarterly, and annual series providing 9% to 15% buffers on the S&P 500 via SPDR S&P 500 ETF Trust (SPY) reference), Power Buffer ETFs (enhanced upside with buffers), Ultra Buffer ETFs (up to 100% downside protection in some variants), Quarterly Buffer ETFs like the Innovator U.S. Equity 5 To 15 Buffer ETF - Quarterly (EALT; launched September 2023, seeking 5-15% quarterly buffer on SPY with 0.69% expense ratio), Laddered Buffer ETFs (equal-weight allocations across buffer series), Step-Up ETFs, Accelerated ETFs, Defined Income ETFs, and specialized products such as Dual Directional ETFs and Bitcoin ETFs. These actively managed, synthetic replication funds utilize FLEX Options on underlying ETFs or indices to achieve predetermined outcomes for institutional investors, financial advisors, and retail clients seeking risk-managed equity growth, income, and protection in volatile markets. Founded in 2017 and headquartered in Wheaton, Illinois, Innovator operates primarily in the United States, overseeing approximately $22-28 billion in assets across more than 150 ETF strategies as of late 2025, distributed through channels including wirehouses, RIAs, and broker-dealers. The company targets large-cap blend equity segments with a focus on S&P 500-linked products; EALT specifically invests at least 80% in FLEX Options on SPY, holding positions in call and put options alongside cash equivalents. In a major strategic development announced December 1, 2025, Innovator entered a definitive agreement to be acquired by Goldman Sachs Group, Inc. for approximately $2 billion in cash and equity, pending regulatory approval and expected to close in Q2 2026; this transaction will integrate Innovator into Goldman Sachs Asset Management, expanding the latter's active ETF capabilities to over 215 strategies and $75 billion in assets. The deal underscores Innovator's leadership in the rapidly growing defined outcome ETF category amid shifting investor preferences toward active risk management post-zero rate environment. No other significant acquisitions, funding rounds, partnerships, or product launches were reported in 2024-2025 beyond ongoing series expansions.