Innovator U.S. Equity Ultra Buffer ETF
UDEC
Chicago Board Options Exchange- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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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
- Dec 2, 2019
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator U.S. Equity Ultra Buffer ETF - December (UDEC), an actively managed exchange-traded fund sponsored by Innovator Capital Management, LLC, seeks to track the price return of the SPDR S&P 500 ETF Trust (SPY) up to an annual upside cap while providing a buffer against the first 5% to 35% of SPY losses over a defined one-year Outcome Period from December 1 to November 30. The fund implements its defined outcome strategy primarily through investments in FLEX Options on SPY, customized exchange-traded option contracts guaranteed by the Options Clearing Corporation, supplemented by cash equivalents and U.S. Treasuries for collateral; for the current Outcome Period ending November 30, 2025, the gross cap stands at 11.94% before fees, netting to 11.15% after the 0.79% unitary management fee, with the buffer adjusted to 4.21%-34.21% post-fees. UDEC forms part of Innovator's broader suite of Defined Outcome ETFs, including related monthly series such as Buffer, Power Buffer, and Ultra Buffer ETFs on U.S. equity, international developed, emerging markets, and small-cap indices, alongside defined income, protection, and accelerated strategies; the firm targets retail and institutional investors seeking risk-managed equity exposure with predictable outcomes. Launched on December 1, 2019, UDEC trades principally on the Cboe BZX Exchange and operates as a series of Innovator ETFs Trust, with portfolio management handled by Milliman Financial Risk Management LLC, including Robert T. Cummings alongside Jeff Greco, Rebekah Lipp, and Maria Schiopu as of July 2025. Innovator Capital Management, headquartered in Wheaton, Illinois and founded in 2017 by ETF pioneers Bruce Bond and John Southard, manages over $28 billion in assets across approximately 159 Defined Outcome ETFs as of late 2025, pioneering the category with its initial Buffer ETF listings in 2018. The firm serves investors globally through U.S.-listed products focused on large-cap U.S. equities via SPY exposure, with significant sector tilt toward information technology given the S&P 500 composition. In a pivotal strategic development announced December 1, 2025, Goldman Sachs Group, Inc. entered into a definitive agreement to acquire Innovator Capital Management for approximately $2 billion in cash and equity, subject to performance targets, with the transaction slated to close in Q2 2026 pending regulatory approval; this deal integrates Innovator's ETF platform into Goldman Sachs Asset Management, enhancing its active ETF offerings, third-party wealth solutions, and global distribution while retaining existing investment managers and service providers. The acquisition underscores Innovator's leadership in high-growth structured outcome products amid rising demand for downside protection in volatile markets, bolstering Goldman Sachs' position among top global ETF providers. No other major acquisitions, funding rounds, or product launches specific to UDEC occurred in the prior 1-2 years, though the fund participated in routine Outcome Period resets and portfolio manager updates in 2025.