Innovator Equity Defined Protection ETF
TAPR
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
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 - Cryptocurrency
- Address
- 109 N. Hale Street Wheaton IL United States of America 60187
- IPO Date
- Apr 1, 2025
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Capital Management, LLC (Innovator) serves as the investment adviser for the Innovator Equity Defined Protection ETF - 2 Yr to April 2027 (TAPR), a defined outcome exchange-traded fund that seeks to track the price return of the SPDR S&P 500 ETF Trust (SPY) up to a predetermined cap while providing a 100% downside buffer against SPY losses over a two-year outcome period from April 1, 2025, to March 31, 2027, before fees and expenses. The firm offers a broad suite of Defined Outcome ETFs, including Buffer ETFs, Defined Income ETFs, Defined Protection ETFs, and growth strategies; these products utilize FLEX options to deliver targeted upside participation, downside protection, or income with built-in risk management for investors seeking predictability in equity, fixed income, and multi-asset exposures. Innovator's ETFs target institutional investors, registered investment advisors, wirehouses, and broker-dealers, with operations focused primarily in the United States. Founded in 2017 by Bruce Bond and John Southard, former PowerShares executives and ETF pioneers, Innovator is headquartered at 200 W Front Street in Wheaton, Illinois. The company launched the world's first Defined Outcome ETFs in August 2018 with its initial Buffer ETFs series, pioneering a strategy previously limited to annuities and structured products; as of September 30, 2025, it managed approximately $28 billion in assets under supervision across 159 ETFs, establishing itself as the second-largest provider of buffer ETFs and the leader in defined outcome strategies. In a major strategic development announced on December 1, 2025, Innovator entered into a definitive agreement to be acquired by The Goldman Sachs Group, Inc. in a cash-and-stock transaction valued at approximately $2 billion, expected to close in the second quarter of 2026; this deal expands Goldman Sachs Asset Management's active ETF capabilities, integrates Innovator's innovative product roadmap, and leverages Goldman Sachs' global distribution to accelerate growth in the fast-expanding defined outcome ETF category. The acquisition follows Innovator's launch of TAPR on April 1, 2025, with an initial cap of 15.32%, a 0.79% expense ratio, and net assets reaching about $10 million by mid-2025, positioning it as a key offering in the firm's Defined Protection series. No other significant acquisitions, funding rounds, or product launches have been reported for Innovator in the past two years beyond ongoing ETF series expansions and bi-annual outcome period resets.