Innovator U.S. Equity Ultra Buffer ETF
UMAY
Chicago Board Options Exchange- -
USD
- -
- -
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
- May 1, 2020
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator U.S. Equity Ultra Buffer ETF - May (UMAY) is an exchange-traded fund that provides investors with buffered exposure to the price return of the S&P 500 Index, up to a specified cap, over a one-year outcome period ending in May each year. The fund employs a data-driven options strategy involving FLEX Options to offer predefined levels of upside participation with downside protection; this includes shielding against the first 30% of losses in the underlying index during the period, after which investors may experience full downside exposure beyond the buffer. It targets sophisticated investors seeking equity market participation with defined risk parameters, operating within the structured outcome ETF segment of the asset management industry. UMAY forms part of the broader suite of Buffer ETFs issued by Innovator ETFs, headquartered in Chicago, Illinois, with the issuer established in 2016 as a pioneer in the defined outcome ETF space. The fund's portfolio consists primarily of FLEX Options purchased from the Chicago Board Options Exchange, collateralized by cash equivalents such as U.S. Treasuries; outcome periods reset annually in May, with buffer and cap levels announced approximately two weeks prior to reset. Geographic operations focus on the U.S. market, serving retail and institutional investors through major broker-dealers. Recent developments include the expansion of Innovator's buffer ETF series with additional outcome periods and enhanced cap levels amid rising interest in structured products; in 2024, the firm launched ultra buffer variants across multiple series, including UMAY, to provide greater downside protection levels (up to 30%) while maintaining competitive caps around 10-15% depending on market conditions. Innovator also announced strategic partnerships with leading wealth platforms for broader distribution and completed a series of seedings for new buffer funds totaling over $100 million in assets under management. No significant reorganizations or name changes have occurred for UMAY in the last two years, though the issuer continues to innovate with hybrid buffer-barrier products for diversified risk management.