Innovator International Developed 10 Buffer ETF
IBUF
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- Innovator International Developed 10 Buffer ETF - Quarterly (IBUF) is an actively managed exchange-traded fund that seeks to track the price return of the iShares MSCI EAFE ETF (EFA), which provides exposure to developed international equity markets excluding the United States and Canada, up to a predetermined quarterly cap while offering a 10% downside buffer against the first 10% of losses over each three-month outcome period before fees and expenses. The fund primarily invests at least 80% of its net assets in FLEX Options referencing EFA to achieve its defined outcome objectives, including purchased call options and short put options structured for capital appreciation with downside protection; it rebalances quarterly to roll into new options contracts with updated caps and maintains tax efficiency with no credit risk. Launched on June 30, 2024, and listed on NYSE Arca on July 1, 2024, IBUF targets investors seeking buffered exposure to large- and mid-cap growth and value stocks across diversified sectors in developed markets such as Japan, Australia, and Western Europe. IBUF forms part of the broader suite of Defined Outcome ETFs issued by Innovator Capital Management, LLC, a leading provider of innovative buffer and defined outcome exchange-traded funds headquartered in Wheaton, Illinois, and founded in 2017 by industry veterans Bruce Bond and John Southard, co-founders of the former PowerShares ETFs. Innovator Capital Management, which oversees more than $28 billion in assets under management across approximately 159 ETFs as of September 30, 2025, specializes in risk-managed equity strategies including income, targeted buffer, and growth products, distributed through channels serving financial advisors, institutions, and individual investors. In a major strategic development announced on December 1, 2025, Innovator Capital Management entered into a definitive agreement to be acquired by The Goldman Sachs Group, Inc. for approximately $2 billion in a cash-and-stock transaction expected to close in the second quarter of 2026, significantly expanding Goldman Sachs Asset Management's active ETF capabilities and positioning it among the top global ETF providers. This acquisition highlights the rapid growth of defined outcome ETFs and will integrate Innovator's portfolio, including IBUF, into Goldman Sachs' offerings focused on sophisticated, outcome-oriented investment solutions. The deal underscores Innovator's pioneering role in buffer ETFs while maintaining its commitment to transparent, liquid, and flexible products for international equity exposure.