Innovator U.S. Equity Accelerated 9 Buffer ETF
XBAP
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
- Apr 1, 2021
- Website
- innovatoretfs.com
- Similar Companies
- Business
- Innovator Capital Management, LLC (Innovator) serves as the investment adviser for the Innovator U.S. Equity Accelerated 9 Buffer ETF – April (XBAP), a defined outcome exchange-traded fund that seeks to deliver double (2x) the price return of the SPDR S&P 500 ETF Trust (SPY), subject to an upside cap, while providing a 9% buffer against SPY's losses and approximately single downside exposure beyond the buffer, over a one-year outcome period from April 1 to March 31 annually. XBAP invests primarily in FLEX Options referencing SPY, along with related instruments such as deposits with brokers for short positions, enabling tax-efficient, liquid exposure without credit risk; the fund rebalances annually, holds indefinitely across reset periods, and trades on the Cboe BZX exchange with a net expense ratio of 0.79% and net assets of approximately $153 million as of recent data. Innovator offers an extensive lineup of over 150 defined outcome ETFs across income, buffer, and growth strategies, targeting institutional investors, financial advisors, and individual investors seeking risk-managed equity exposure. Founded in 2017 by ETF industry pioneers Bruce Bond and John Southard—former co-founders of PowerShares Capital Management—and headquartered in Wheaton, Illinois, Innovator pioneered the world's first Defined Outcome ETFs in 2018, managing roughly $28 billion in assets under supervision across its suite as of September 30, 2025. The firm operates primarily in the United States, distributing products through channels including wirehouses, registered investment advisors, broker-dealers, and institutional platforms, with key leadership including CEO Bruce Bond, President John Southard, EVP and Chief Investment Officer Graham Day, and SVP and Head of Distribution Trevor Terrell. In a major strategic development announced on December 1, 2025, Goldman Sachs agreed to acquire Innovator for approximately $2 billion in a cash-and-equity transaction, subject to performance targets and regulatory approval, with closure expected in Q2 2026; this deal will integrate Innovator's 159 ETFs and over 60 employees into Goldman Sachs Asset & Wealth Management, expanding the latter's active ETF offerings to over 215 strategies and more than $75 billion in assets while retaining existing investment managers and service providers. The acquisition underscores Innovator's rapid growth in the defined outcome ETF category amid market volatility and positions it to broaden access to buffered equity solutions globally under Goldman Sachs' umbrella. No other significant partnerships, funding rounds, or product launches were reported in the prior 1-2 years beyond ongoing annual series resets and portfolio expansions.