Innovator ETFs Trust - Innovator U.S. Small Cap Power Buffer ETF - May
KMAY
Chicago Board Options Exchange- -
USD
- -
- -
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 200 W. Front Street Wheaton IL United States of America 60187
- IPO Date
- May 1, 2025
- CIK
- 0001415726
- Similar Companies
- Business
- Innovator U.S. Small Cap Power Buffer ETF – May is a series of Innovator ETFs Trust and an actively managed, U.S.-listed defined-outcome exchange-traded fund that seeks to provide exposure to the price return of the iShares Russell 2000 ETF, which represents the U.S. small-cap equity market. The fund principally invests in customizable FLexible EXchange Options (FLEX Options), including purchased and written call and put options referencing the iShares Russell 2000 ETF, and collateral instruments; it is designed to provide investors holding shares for an entire annual May-to-April outcome period with gains corresponding to the underlying ETF’s price appreciation up to a predetermined upside cap and protection against the first 15% of underlying ETF price declines, before fees and expenses. Losses exceeding the stated buffer are generally borne on a one-for-one basis, and the fund does not seek to provide dividend income or principal protection. Shares trade on Cboe BZX under the ticker KMAY, and the fund issues and redeems shares in Creation Units at net asset value while trading intraday on the secondary market. KMAY was launched on April 30, 2025, carries a 0.79% annual management fee, and is managed by Innovator Capital Management, with Milliman Financial Risk Management LLC serving as investment sub-adviser. The fund primarily serves U.S. investors and financial intermediaries seeking small-cap equity exposure with a capped-return, buffered-loss profile. Its principal recent operational development is the commencement of the May 2026–April 2027 outcome period, under which the portfolio resets into a new series of FLEX Options and establishes a newly determined cap and 15% gross buffer; the fund remains part of Innovator ETFs’ expanding defined-outcome ETF platform, which in 2026 introduced the Innovator Equity Dual Directional 10 Buffer ETF and Innovator Equity Dual Directional 15 Buffer ETF.