Innovator Emerging Markets 10 Buffer ETF
EBUF
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Global
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Jul 1, 2024
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Emerging Markets 10 Buffer ETF - Quarterly (EBUF) is an actively managed exchange-traded fund that seeks to provide investors with returns that track the price performance of the iShares MSCI Emerging Markets ETF (EEM), up to a predetermined cap, while buffering against the first 10% of EEM losses over each approximately three-month outcome period before fees and expenses. The fund achieves these defined outcomes through investments in FLEX Options, including purchased and sold call and put options on EEM with customized strike prices and expiration dates matching the outcome period; for the initial period from July 1, 2024, to September 30, 2024, the starting cap was 3.52% (3.29% net of the 0.89% expense ratio) and the buffer was 10% (9.77% net). Subsequent outcome periods reset quarterly on the first trading day of the month following expiration, with new caps and buffers determined based on prevailing market conditions using FLEX Options guaranteed by the Options Clearing Corporation; the fund lists on NYSE Arca, maintains tax efficiency via creation/redemption units, and exhibits characteristics distinct from traditional ETFs due to path dependency and interim NAV fluctuations influenced by time decay and volatility. EBUF forms part of the broader Innovator ETFs suite offered by Innovator Capital Management, LLC, a provider of Defined Outcome ETFs focused on risk-managed equity exposure across U.S., international developed, and emerging markets segments. Core offerings include quarterly buffer series such as EBUF (emerging markets via EEM), IBUF (international developed via EFA), QBUF (Nasdaq-100), and RBUF (U.S. small cap), alongside power buffer, ultra buffer, accelerated, and premium income variants with varying buffer levels (9%-30%), caps, and outcome periods from three months to two years; target customers encompass retail investors, institutions, and risk-averse portfolios seeking capped upside with downside protection against reference assets like S&P 500, Nasdaq-100, MSCI EAFE, and MSCI Emerging Markets. The firm operates globally through exposure to underlying ETFs tracking mid- and large-cap securities in emerging markets (e.g., China, Taiwan, South Korea, India via EEM) and developed markets outside North America. Innovator Capital Management, LLC, founded in 2017 by industry veterans Bruce Bond and John Southard (former PowerShares executives), is headquartered in Wheaton, Illinois, and manages over $18 billion in assets across more than 120 ETFs as of mid-2024, distributed by Foreside Fund Services, LLC. The sub-adviser, Milliman Financial Risk Management LLC, handles FLEX Options implementation, with recent portfolio management updates in July 2024 adding Jordan Rosenfeld as a manager following Yin Bhuyan's departure, and prospective caps announced for the October-December 2024 period (e.g., 3.04%-4.54% gross for EBUF). In December 2025, Innovator was acquired by Goldman Sachs for $2 billion, marking a major strategic shift to enhance scale, distribution, and innovation in active and defined outcome ETF strategies amid industry consolidation driven by active ETF growth. EBUF itself launched on July 1, 2024, with initial net assets of $1.25 million, expanding Innovator's international buffer lineup debuted in 2024 alongside IBUF.