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TABLE OF CONTENTS

 

Letter to Shareholders         

3

Fund Performance         

7

Expense Example         

17

Schedules of Investments         

19

Statements of Assets and Liabilities         

38

Statements of Operations         

40

Statements of Changes in Net Assets         

42

Financial Highlights         

46

Notes to Financial Statements         

50

Report of Independent Registered Public Accounting Firm         

66

Trustees and Officers         

69

Board Considerations Regarding Approval of Investment Management Agreement         

71

Additional Information         

75

 

 

INNOVATOR ETFs TRUST
Letter to Shareholders (Unaudited) 

 

Letter to Shareholders (Unaudited)

 

Dear Valued Shareholders,

 

The following shareholder letter covers the period ended October 31, 2021.

 

Thank you for your interest in Innovator ETFs.          

 

During the year ended October 31, 2021, the IBD ETFs (FFTY and BOUT) have performed positively and in line with their respective peer groups (source: Factset Segment Average), but not without seeing some volatility along the way. Both IBD ETFs met some resistance during the latter part of 2021, as concerns around new Covid variants spurred general market volatility and put pressure on growth stocks, and more specifically certain technology segments.

 

The Innovator Loup Frontier Tech ETF (LOUP) has been consistent in its positioning as an ETF focused on investing in companies that influence the future of technology. During the year ended October 31, 2021, LOUP began the year on strong footing, outpacing the S&P 500 by more than 20% at its peak in February. Spring saw a retraction in both growth and technology stocks, which ultimately had an impact on LOUP through the second half of 2021. Overall, technology stocks have had quite an impressive run.

 

The Innovator Laddered Fund of U.S. Equity Power Buffer ETFs (BUFF) is designed to offer a tax-efficient1, laddered approach to owning the market with buffers and market upside, to a cap. Each month, one Power Buffer ETF™ concludes its one-year outcome period, and resets into another one-year outcome period. This process allows investors to participate in a diverse set of buffered outcomes, smoothing out their overall investment experience.

 

The Innovator S&P Investment Grade Preferred ETF (EPRF) is the only preferred ETF designed to hold solely investment grade preferred stock. Its monthly distribution, qualified dividend income (QDI2) profile, weighting methodology, and exclusively investment-grade exposure all help to distinguish it from other income-focused ETFs. In 2021, while rising yields were a headwind for nearly all income funds, investors were rewarded for taking on additional credit risk. Over the course of the year ended October 31, 2021, high yield credit spreads narrowed nearly six times as much as their investment grade counterparts. This was the primary source of EPRF’s underperformance relative to the broader category, which tends to hold a significant amount of junk-rated and unrated preferred stock. With high yield credit spreads near historic lows, we believe EPRF’s investment-grade holdings leaves it well positioned against the effects of a selloff in high yield.

 

3

INNOVATOR ETFs TRUST
Letter to Shareholders (Unaudited) (Continued)

 

As we have reiterated to our shareholders throughout the year, Innovator Capital Management was established on an unwavering commitment to building products that deliver confidence and innovation to investors, even amidst uncertainty. We aim to continue to earn your trust in the years to come and look forward to continuing to work together to find and create innovative and valuable solutions to the investment challenges that lie ahead.

 

On behalf of all of us at Innovator, I want to thank you for your unwavering partnership and support of our mission to help you grow and protect your assets. May the Lord’s presence go before you throughout the New Year!

 

ex_320065img001.jpg

 

 

Bruce Bond

 

Chief Executive Officer

 

 

The views in this report were those of the Funds CEO as of October 31, 2021 and may not reflect his views on the date that this report is first published or anytime thereafter. These views are intended to assist shareholders in understanding their investments and do not constitute investment advice.

 

4

INNOVATOR ETFs TRUST
Letter to Shareholders (Unaudited) (Continued)

 

Investing involves risks. Principal loss is possible.

 

1. ETFs use creation units, which allow for the purchase and sale of assets in the fund collectively. Consequently, ETFs usually generate fewer capital gain distributions overall, which can make them somewhat more tax-efficient than mutual funds.

 

2. QDI stands for qualified dividend income. QDI is taxed at the same rate as are capital gains, while ordinary dividend income is taxed at standard federal income tax rates.

 

EPRF Risks
The fund invests in preferred securities which may be subject to many of the risks associated with debt securities, including interest rate risk. The fund invests in equity securities which may be subject to volatile price fluctuations. Because the fund is non-diversified and can invest a greater portion of its assets in securities of individual issuers than a diversified fund, changes in the market value of a single investment could cause greater fluctuations in share price.

 

BUFF Risks
The fund may have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Fund is right for you, please see “Investor Suitability” in the prospectus.

The fund, in accordance with the Refinitiv Laddered Power Buffer Strategy Index, will be continuously invested in a laddered portfolio of the twelve Underlying ETFs. The index is rebalanced semi-annually such that each Underlying ETF will constitute 1/12 of the Index portfolio before fees and expenses. Each Underlying ETF seeks to match the performance of the SPDR S&P 500 ETF Trust (SPY) price return, up to a specified cap, while buffering against a 15% loss over the course of an approximately one-year time period that begins on the first trading day of the month indicated in the Underlying ETF’s name when the fund enters into its FLEX Option positions and ends on the market’s closure on the last trading day of the month immediately preceding the month indicated its name when those FLEX Options expire. There is no guarantee that the defined outcome strategy of an Underlying ETF in any given Outcome Period will be achieved.

 

This material must be preceded by or accompanied with a prospectus. The Funds' investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus contains this and other important information, and it may be obtained at innovatoretfs.com. Read it carefully before investing.

 

Innovator ETFs are distributed by Foreside Fund Services, LLC.

 

5

INNOVATOR IBD® 50 ETF

 

Fund Performance

October 31, 2021 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator IBD® 50 ETF from its inception (April 8, 2015) to October 31, 2021 as compared with the S&P 500® Index.

 

ibdg1.jpg

 

   

Average Annual Total Returns As of October 31, 2021

   

1 Year

   

3 Years

   

5 Years

   

Since Inception (a)

   

Innovator IBD® 50 ETF

                                 

NAV Return

   

39.95

%

   

17.24

%

   

17.94

%

   

11.28

%

 

Market Return

   

40.06

%

   

17.20

%

   

17.94

%

   

11.28

%

 

S&P 500® Index

   

42.91

%

   

21.48

%

   

18.93

%

   

15.06

%

 

IBD® 50 Index (b)

   

40.92

%

   

18.05

%

   

N/A

     

10.89

%

(c)

 

(a)

Inception date is April 8, 2015.

(b)

The Fund began tracking the IBD® 50 Index on November 20, 2017.

(c)

Since Inception return is from the date the Fund began tracking the IBD® 50 Index, November 20, 2017.

 

Performance data quoted represents past performance and does not guarantee future results.  The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost.  Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the gross and net expense ratios of the Fund were 0.90% and 0.80%, respectively. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

6

INNOVATOR IBD® 50 ETF

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Total return calculations reflect the effect of the Advisor’s expense limitation agreement for the Fund.  Returns shown for the Fund, S&P 500® Index and IBD® 50 Index include the reinvestment of all dividends, if any.

 

The S&P 500® Index is an unmanaged, capitalization–weighted index generally representative of the U.S. market for large capitalization stocks.

 

The IBD® 50 Index is a weekly, rule–based, computer–generated stock index compiled and published by Investor’s Business Daily® that seeks to identify the current top 50 growth stocks.

 

The Fund’s portfolio holdings may differ significantly from the securities held in the relevant index and, unlike an exchange–traded fund, the performance of an unmanaged index does not reflect deductions for transaction costs, taxes, management fees or other expenses.

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

Information regarding the differences between the price of the Fund’s shares on the secondary market and the Fund’s net asset value is available at Innovatoretfs.com/FFTY.

 

7

 

Fund Performance

October 31, 2021 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator IBD® Breakout Opportunities ETF from its inception (September 12, 2018) to October 31, 2021 as compared with the S&P 500® Index and IBD® Breakout Stocks Index.

 

breakoutg1.jpg

 

   

Average Annual Total Returns

As of October 31, 2021

 
   

1 Year

   

3 Years

   

Since Inception (a)

 

Innovator IBD® Breakout Opportunities ETF

                       

NAV Return

   

55.18

%

   

21.78

%

   

12.93

%

Market Return

   

55.51

%

   

21.65

%

   

12.95

%

S&P 500® Index

   

42.91

%

   

21.48

%

   

18.13

%

IBD® Breakout Stocks Index

   

57.66

%

   

23.43

%

   

14.44

%

 

(a)

Inception date is September 12, 2018.

 

Performance data quoted represents past performance and does not guarantee future results.  The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost.  Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.80%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

8

INNOVATOR IBD® BREAKOUT OPPORTUNITIES ETF

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P 500® Index and IBD® Breakout Stocks Index include the reinvestment of all dividends, if any.

 

The S&P 500® Index is an unmanaged, capitalization–weighted index generally representative of the U.S. market for large capitalization stocks.

 

The IBD® Breakout Stocks Index is a rule–based index compiled and published by Investor’s Business Daily® that seeks to provide opportunistic investment exposure to those stocks with the potential to “break out” or experience a period of sustained price growth beyond the stock’s recent “resistance level,” with consideration for various market conditions.

 

The Fund’s portfolio holdings may differ significantly from the securities held in the relevant index and, unlike an exchange–traded fund, the performance of an unmanaged index does not reflect deductions for transaction costs, taxes, management fees or other expenses.

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

Information regarding the differences between the price of the Fund’s shares on the secondary market and the Fund’s net asset value is available at Innovatoretfs.com/BOUT.

 

9

 

Fund Performance

October 31, 2021 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Loup Frontier Tech ETF from its inception (July 24, 2018) to October 31, 2021 as compared with the Dow Jones Global Index and Loup Frontier Tech Index.

 

loupg1.jpg

 

   

Average Annual Total Returns As of October 31, 2021

 
   

1 Year

   

3 Years

   

Since Inception (a)

 

Innovator Loup Frontier Tech ETF

                       

NAV Return

   

50.01

%

   

35.00

%

   

27.97

%

Market Return

   

49.94

%

   

35.01

%

   

28.03

%

Dow Jones Global Index

   

37.67

%

   

17.51

%

   

13.59

%

Loup Frontier Tech Index

   

51.11

%

   

36.19

%

   

28.81

%

 

(a)

Inception date is July 24, 2018.

 

Performance data quoted represents past performance and does not guarantee future results.  The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost.  Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.70%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

10

INNOVATOR LOUP FRONTIER TECH ETF

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, Dow Jones Global Index and Loup Frontier Tech Index include the reinvestment of all dividends, if any.

 

The Dow Jones Global Index is an unmanaged, capitalization–weighted index generally representative of the global market.

 

The Loup Frontier Tech Index is a rules–based stock index that seeks to identify and track those companies identified as being on the frontier of the development of new technologies that have the potential to have an outsized influence on the future.

 

The Fund’s portfolio holdings may differ significantly from the securities held in the relevant index and, unlike an exchange–traded fund, the performance of an unmanaged index does not reflect deductions for transaction costs, taxes, management fees or other expenses.

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

Information regarding the differences between the price of the Fund’s shares on the secondary market and the Fund’s net asset value is available at Innovatoretfs.com/LOUP.

 

11

 

Fund Performance

October 31, 2021 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator S&P Investment Grade Preferred ETF from its inception (May 23, 2016) to October 31, 2021 as compared with the S&P U.S. High Quality Preferred Stock Index and the S&P U.S. Preferred Stock Index.

 

spg1.jpg

 

   

Average Annual Total Returns

As of October 31, 2021

 
   

1 Year

   

3 Years

   

5 Years

   

Since Inception (a)

 

Innovator S&P Investment Grade Preferred ETF

                               

NAV Return

   

5.97

%

   

7.87

%

   

5.00

%

   

4.70

%

Market Return

   

5.94

%

   

7.84

%

   

4.92

%

   

4.62

%

S&P U.S. High Quality Preferred Stock Index

   

6.42

%

   

8.31

%

   

5.52

%

   

5.24

%

S&P U.S. Preferred Stock Index

   

13.38

%

   

9.24

%

   

6.54

%

   

6.31

%

 

(a)

Inception date is May 23, 2016.

 

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.47%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

12

INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P U.S. High Quality Preferred Stock Index and S&P U.S. Preferred Stock Index include the reinvestment of all dividends, if any.

 

The S&P U.S. High Quality Preferred Stock Index is designed to provide exposure to U.S. - listed preferred stocks that meet a minimum size, liquidity, type of issuance, and quality criteria.

 

The S&P U.S. Preferred Stock Index generally represents the U.S. preferred stock market.

 

The Fund’s portfolio holdings may differ significantly from the securities held in the relevant index and, unlike an exchange-traded fund, the performance of an unmanaged index does not reflect deductions for transaction costs, taxes, management fees or other expenses.

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

Information regarding the differences between the price of the Fund’s shares on the secondary market and the Fund’s net asset value is available at innovatoretfs.com/EPRF.

 

13

 

Fund Performance

October 31, 2021 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Laddered Fund of U.S. Equity Power Buffer ETFs from its inception (October 19, 2016) to October 31, 2021 as compared with the S&P 500® Index.

 

ladderg1.jpg
   

Average Annual Total Returns As of October 31, 2021

   
   

1 Year

   

3 Years

   

5 Years

   

Since Inception (a)

   

Innovator Laddered Fund of U.S. Equity Power Buffer ETFs

                                 

NAV Return

   

12.93

%

   

6.71

%

   

8.92

%

   

8.55

%

 

Market Return

   

13.17

%

   

6.80

%

   

8.98

%

   

8.60

%

 

S&P 500® Index

   

42.91

%

   

21.48

%

   

18.93

%

   

18.60

%

 

Refinitiv Laddered Power Buffer Strategy Index (b)

   

13.09

%

   

N/A

     

N/A

     

10.31

%

(c)

 

(a)

Inception date is October 19, 2016.

(b)

The Fund began tracking the Refinitiv Laddered Power Buffer Strategy Index on August 11, 2020.

(c)

Since Inception return is cumulative and from the date the Fund began tracking the Refinitiv Laddered Power Buffer Strategy Index, August 11, 2020.

 

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.99%. This expense ratio includes acquired fund fees and expenses of 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

14

INNOVATOR LADDERED FUND OF U.S. EQUITY POWER BUFFER ETFS

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, Refinitiv Laddered Power Buffer Strategy Index and S&P 500® Index include the reinvestment of all dividends, if any.

 

The Refinitiv Laddered Power Buffer Strategy Index is equally weighted in the shares of the twelve Innovator U.S. Equity Power Buffer ETFs which each respectively seek to provide a defined outcome based upon the performance of the S&P 500® Index - Price Return over the course of an approximately one-year time period that begins on the first trading day of the month indicated in the respective ETF's name. Each Innovator U.S. Equity Power Buffer ETF seeks to provide an upside return that is capped for an applicable outcome period and a measure of downside protection from losses for such outcome period. The Index seeks to provide "laddered" investing in the twelve Innovator U.S. Equity Power Buffer ETFs. Laddered investing refers to investments in several similar securities that have different reset dates, with the goal of mitigating timing risks associated with investing in a single investment.

 

The S&P 500® Index is an unmanaged, capitalization-weighted index generally representative of the U.S. market for large capitalization stocks.

 

The Fund’s portfolio holdings may differ significantly from the securities held in the relevant index and, unlike an exchange-traded fund, the performance of an unmanaged index does not reflect deductions for transaction costs, taxes, management fees or other expenses.

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

Information regarding the differences between the price of the Fund’s shares on the secondary market and the Fund’s net asset value is available at innovatoretfs.com/BUFF.

 

15

 

Expense Example

For the Period Ended October 31, 2021 (Unaudited)

 

As a shareholder of the Funds, you incur two types of costs: (1) ongoing costs, including management fees, and other Fund expenses; and (2) transaction costs, including brokerage commissions on the purchase and sale of Fund shares. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other funds.

 

The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period from May 1, 2021 to October 31, 2021 for each Fund.

 

Actual Expenses

 

The first line under each Fund in the following table provides information about actual account values and actual expenses.  You may use the information in this line, together with the amount you invested, to estimate the expenses you paid over the period.  Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 equals 8.6), then multiply the result by the number in the applicable line under the heading titled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

 

Hypothetical Example for Comparison Purposes

 

The second line under each Fund in the following table provides information about hypothetical account values and hypothetical expenses based on the Funds’ actual expense ratios and an assumed rate of return of 5% per year before expenses, which are not the Funds’ actual returns.  The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.  You may use this information to compare the ongoing costs of investing in the Funds with other funds.  To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.

 

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions on the purchase and sale of Fund shares.  Therefore, the second line under the Fund in the table is useful in comparing the ongoing Fund costs only and will not help you determine the relative total costs of owning different funds.  In addition, if these transactional costs were included, your costs could have been higher.

 

16

INNOVATOR ETFs TRUST

 

Expense Example

 

For the Period Ended October 31, 2021 (Unaudited) (Continued) 

 

                   

Expenses Paid

   

Annualized Expense

 
   

Beginning Account

   

Ending Account

   

During the

   

Ratio for the

 
   

Value

   

Value

   

Period (a)

   

Period

 

Innovator IBD 50® ETF (NAV)

                           

0.80

%

Actual

 

$

1,000.00

   

$

1,080.00

   

$

4.19

         

Hypothetical

   

1,000.00

     

1,021.17

     

4.08

         

Innovator IBD® Breakout Opportunities ETF (NAV)

     

0.80

%

Actual

   

1,000.00

     

1,059.60

     

4.15

         

Hypothetical

   

1,000.00

     

1,021.17

     

4.08

         

Innovator Loup Frontier Tech ETF (NAV)

             

0.70

%

Actual

   

1,000.00

     

1,045.30

     

3.61

         

Hypothetical

   

1,000.00

     

1,021.68

     

3.57

         

Innovator S&P Investment Grade Preferred ETF (NAV)

             

0.47

%

Actual

   

1,000.00

     

1,025.10

     

2.40

         

Hypothetical

   

1,000.00

     

1,022.84

     

2.40

         

Innovator Laddered Fund of U.S. Equity Power Buffer ETFs (NAV)

     

0.20

%

Actual

   

1,000.00

     

1,033.30

     

1.03

         

Hypothetical

   

1,000.00

     

1,024.20

     

1.02

         

 

(a)

Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the six month period).

 

17

INNOVATOR IBD® 50 ETF

 

Schedule of Investments

October 31, 2021

 

   

Shares

   

Value

 

COMMON STOCKS - 98.02%

               

Apparel - 1.03%

               

Crocs, Inc. (a)         

   

17,432

   

$

2,814,396

 
                 

Auto Manufacturers - 2.07%

               

Tesla, Inc. (a)         

   

5,099

     

5,680,286

 
                 

Banks - 3.43%

               

SVB Financial Group (a)         

   

1,869

     

1,340,821

 

Western Alliance Bancorp         

   

69,523

     

8,070,925

 
             

9,411,746

 

Beverages - 3.41%

               

Celsius Holdings, Inc. (a)(b)         

   

97,024

     

9,364,756

 
                 

Biotechnology - 3.42%

               

Dynavax Technologies Corp. (a)(b)         

   

470,396

     

9,393,808

 
                 

Building Materials - 1.97%

               

Builders FirstSource, Inc. (a)         

   

92,835

     

5,409,495

 
                 

Commercial Services- 6.61%

               

Affirm Holdings, Inc. (a)         

   

61,312

     

9,963,200

 

Gartner, Inc. (a)         

   

16,502

     

5,477,179

 

Progyny, Inc. (a)         

   

43,835

     

2,692,784

 
             

18,133,163

 

Computers - 7.38%

               

Crowdstrike Holdings, Inc. - Class A (a)(b)         

   

9,489

     

2,674,000

 

TaskUS, Inc. - Class A (a)(b)         

   

162,433

     

9,404,871

 

Zscaler, Inc. (a)(b)         

   

25,615

     

8,167,599

 
             

20,246,470

 

Distribution/Wholesale - 0.50%

               

WESCO International, Inc. (a)         

   

10,590

     

1,372,040

 
                 

Diversified Financial Services - 4.44%

               

Freedom Holding Corp/NV (a)(b)         

   

40,391

     

2,693,676

 

Upstart Holdings, Inc. (a)(b)         

   

29,465

     

9,488,909

 
             

12,182,585

 

Electronic Components & Equipment - 2.95%

               

Generac Holdings, Inc. (a)         

   

16,247

     

8,100,104

 

 

The accompanying notes are an integral part of these financial statements.
18

INNOVATOR IBD® 50 ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Electronics - 3.53%

               

Atkore, Inc. (a)         

   

102,520

     

9,691,216

 
                 

Entertainment - 0.48%

               

Caesars Entertainment, Inc. (a)         

   

11,952

     

1,308,266

 
                 

Healthcare-Products - 5.87%

               

Inmode Ltd. (a)         

   

111,864

     

10,597,997

 

Inspire Medical Systems, Inc. (a)         

   

20,438

     

5,509,676

 
             

16,107,673

 

Home Furnishings - 1.43%

               

Tempur Sealy International, Inc.         

   

56,647

     

2,519,092

 

The Lovesac Co. (a)(b)         

   

18,033

     

1,406,754

 
             

3,925,846

 

Internet - 2.45%

               

Alphabet, Inc. - Class A(a)         

   

452

     

1,338,336

 

Perficient, Inc. (a)(b)         

   

43,440

     

5,369,184

 
             

6,707,520

 

Iron/Steel - 2.81%

               

Cleveland-Cliffs, Inc. (a)         

   

320,281

     

7,721,975

 
                 

Oil & Gas - 1.92%

               

Diamondback Energy, Inc.         

   

49,222

     

5,276,106

 
                 

Oil & Gas Services - 0.52%

               

ChampionX Corp. (a)         

   

54,255

     

1,423,109

 
                 

Private Equity - 5.42%

               

Ares Management Corp. - Class A         

   

31,969

     

2,709,053

 

KKR & Co., Inc.         

   

34,683

     

2,763,195

 

The Blackstone Group, Inc.         

   

58,194

     

8,055,213

 

The Carlyle Group, Inc.         

   

24,018

     

1,348,611

 
             

14,876,072

 

Retail - 2.17%

               

Dutch Bros, Inc. - Class A (a)         

   

78,021

     

5,948,321

 

 

The accompanying notes are an integral part of these financial statements.
19

INNOVATOR IBD® 50 ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Semiconductors - 6.59%

               

Advanced Micro Devices, Inc. (a)         

   

21,652

     

2,603,220

 

Monolithic Power Systems, Inc.         

   

2,521

     

1,324,685

 

NVIDIA Corp.         

   

32,505

     

8,310,553

 

SiTime Corp. (a)         

   

22,017

     

5,832,083

 
             

18,070,541

 

Software - 27.62%

               

AppLovin Corp. - Class A (a)(b)         

   

27,893

     

2,740,487

 

Asana, Inc. - Class A (a)         

   

74,193

     

10,075,410

 

Atlassian Corp. PLC - Class A (a)         

   

3,206

     

1,468,765

 

Bill.Com Holdings, Inc. (a)(b)         

   

31,935

     

9,398,790

 

Cloudflare, Inc. - Class A (a)         

   

51,871

     

10,100,321

 

Confluent, Inc. - Class A (a)(b)         

   

41,741

     

2,836,301

 

Datadog, Inc. - Class A (a)         

   

50,563

     

8,446,549

 

Digital Turbine, Inc. (a)(b)         

   

94,898

     

8,166,922

 

HubSpot, Inc. (a)(b)         

   

9,966

     

8,074,752

 

Monday.com Ltd. (a)(b)         

   

20,262

     

7,534,019

 

MongoDB, Inc. (a)(b)         

   

10,634

     

5,543,398

 

TDCX, Inc. - ADR (a)         

   

48,634

     

1,394,823

 
             

75,780,537

 

TOTAL COMMON STOCKS (Cost $236,585,084)         

           

268,946,031

 
                 

REAL ESTATE INVESTMENT TRUSTS - 1.99%

               

Warehouse/Industrial - 1.99%

               

Innovative Industrial Properties, Inc. (b)         

   

20,793

     

5,470,430

 

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $4,970,958)         

           

5,470,430

 
                 

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 31.27%

 

Units

         

Mount Vernon Liquid Assets Portfolio, LLC, 0.10% (c)         

   

85,779,500

     

85,779,500

 

TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $85,779,500)         

           

85,779,500

 

 

The accompanying notes are an integral part of these financial statements.
20

INNOVATOR IBD® 50 ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

SHORT TERM INVESTMENTS - 0.07%

               

Money Market Deposit Account - 0.07%

 

Principal

Amount

     

Value

 

U.S. Bank Money Market Deposit Account, 0.003% (d)         

 

$

179,429

     

179,429

 

TOTAL SHORT TERM INVESTMENTS (Cost $179,429)         

           

179,429

 
                 

Total Investments (Cost $327,514,971)  131.35%         

           

360,375,390

 

Liabilities in Excess of Other Assets  (31.35)%         

           

(86,010,583

)

TOTAL NET ASSETS  100.00%         

         

$

274,364,807

 

 

Asset Type

 

% of Net Assets

 

Common Stocks         

   

98.02

%

Real Estate Investment Trusts         

   

1.99

 

Investments Purchased with Proceeds From Securities Lending         

   

31.27

 

Short Term Investments         

   

0.07

 

Total Investments         

   

131.35

 

Liabilities in Excess of Other Assets         

   

(31.35

)

Net Assets         

   

100.00

%

Percentages are stated as a percent of net assets.

 

ADR – American Depositary Receipt

(a)

Non-income producing security.

(b)

All or a portion of this security is on loan as of October 31, 2021. The total value of securities on loan is $71,139,234, or 25.93% of net assets. See Note 6.

(c)

Represents annualized seven-day yield as of the end of the reporting period.

(d)

The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of October 31, 2021.

 

The accompanying notes are an integral part of these financial statements.
21

INNOVATOR IBD® BREAKOUT OPPORTUNITIES ETF

 

Schedule of Investments

October 31, 2021

 

   

Shares

   

Value

 

COMMON STOCKS  88.33%

               

Agriculture  4.40%

               

Bunge Ltd.         

   

3,824

   

$

354,256

 

Nutrien Ltd. (a)         

   

4,128

     

288,589

 
             

642,845

 

Auto Manufacturers  3.21%

               

Ford Motor Co. (a)         

   

20,640

     

352,531

 

Tesla, Inc. (a)         

   

104

     

115,856

 
             

468,387

 

Banks  4.41%

               

Customers Bancorp, Inc. (a)         

   

1,000

     

53,290

 

KeyCorp         

   

8,000

     

186,160

 

Meta Financial Group, Inc.         

   

3,112

     

172,529

 

Regions Financial Corp. (b)         

   

3,992

     

94,531

 

SVB Financial Group (a)(b)         

   

128

     

91,827

 

The Goldman Sachs Group, Inc.         

   

112

     

46,295

 
             

644,632

 

Building Materials  3.56%

               

Builders FirstSource, Inc. (a)         

   

824

     

48,014

 

Louisiana-Pacific Corp. (b)         

   

3,000

     

176,790

 

Tecnoglass, Inc. (b)         

   

3,520

     

101,658

 

UFP Industries, Inc.         

   

2,368

     

193,773

 
             

520,235

 

Chemicals  4.24%

               

Celanese Corp.         

   

1,144

     

184,767

 

CF Industries Holdings, Inc.         

   

808

     

45,894

 

Element Solutions, Inc. (b)         

   

2,112

     

47,964

 

Linde PLC         

   

920

     

293,665

 

The Mosaic Co.         

   

1,144

     

47,556

 
             

619,846

 

Commercial Services  3.85%

               

Service Corporation International         

   

5,288

     

362,175

 

Textainer Group Holdings Ltd. (a)         

   

1,296

     

50,920

 

TransUnion         

   

824

     

94,999

 

Triton International Ltd.         

   

864

     

53,732

 
             

561,826

 

 

The accompanying notes are an integral part of these financial statements.
22

INNOVATOR IBD® BREAKOUT OPPORTUNITIES ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Computers - 2.36%

               

Fortinet, Inc. (a)         

   

144

     

48,433

 

Tenable Holdings, Inc. (a)         

   

5,568

     

296,496

 
             

344,929

 

Diversified Financial Services - 7.07%

               

Affiliated Managers Group, Inc.         

   

2,032

     

341,131

 

BlackRock, Inc.         

   

368

     

347,193

 

Credit Acceptance Corp. (a)         

   

80

     

47,857

 

Oppenheimer Holdings, Inc. - Class A         

   

3,752

     

195,292

 

Tradeweb Markets, Inc. - Class A         

   

1,128

     

100,505

 
             

1,031,978

 

Electric - 0.75%

               

Ameresco, Inc. - Class A (a)(b)         

   

1,328

     

109,069

 
                 

Energy-Alternate Sources - 2.59%

               

Enphase Energy, Inc. (a)(b)         

   

1,632

     

378,020

 
                 

Entertainment - 0.59%

               

Churchill Downs, Inc.         

   

376

     

86,480

 
                 

Healthcare-Products - 3.29%

               

Danaher Corp.         

   

928

     

289,322

 

STERIS PLC         

   

816

     

190,732

 
             

480,054

 

Healthcare-Services - 2.02%

               

IQVIA Holdings, Inc. (a)         

   

1,128

     

294,882

 
                 

Home Builders - 0.66%

               

Skyline Champion Corp. (a)         

   

1,520

     

96,246

 
                 

Insurance - 3.59%

               

Fidelity National Financial, Inc.         

   

3,872

     

185,508

 

Voya Financial, Inc. (b)         

   

4,864

     

339,361

 
             

524,869

 

 

The accompanying notes are an integral part of these financial statements.
23

INNOVATOR IBD® BREAKOUT OPPORTUNITIES ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Internet - 5.09%

               

Cargurus, Inc. (a)         

   

2,832

     

94,985

 

IAC/InterActiveCorp (a)         

   

2,208

     

336,433

 

Mimecast Ltd. (a)         

   

1,400

     

105,616

 

TechTarget, Inc. (a)         

   

552

     

52,059

 

Upwork, Inc. (a)         

   

3,288

     

154,931

 
             

744,024

 

Lodging - 1.91%

               

Boyd Gaming Corp. (a)         

   

4,376

     

279,101

 
                 

Machinery-Diversified - 3.56%

               

Cactus, Inc. - Class A         

   

4,296

     

186,876

 

Ingersoll Rand, Inc. (a)         

   

6,208

     

333,743

 
             

520,619

 

Oil & Gas - 13.64%

               

APA Corp.         

   

12,168

     

318,923

 

Canadian Natural Resources Ltd.         

   

6,768

     

287,708

 

Denbury, Inc. (a)         

   

600

     

50,796

 

EOG Resources, Inc.         

   

520

     

48,079

 

Hess Corp. (b)         

   

3,800

     

313,766

 

Matador Resources Co. (b)         

   

1,104

     

46,202

 

Ovintiv, Inc.         

   

8,632

     

323,873

 

Pioneer Natural Resources Co.         

   

504

     

94,238

 

Valero Energy Corp.         

   

4,160

     

321,693

 

Whiting Petroleum Corp. (a)(b)         

   

2,872

     

187,053

 
             

1,992,331

 

Pipelines - 1.94%

               

The Williams Cos, Inc.         

   

10,088

     

283,372

 
                 

Private Equity - 1.43%

               

KKR & Co., Inc.         

   

2,624

     

209,054

 
                 

Retail - 3.31%

               

Signet Jewelers Limited         

   

2,144

     

191,202

 

Target Corp.         

   

1,128

     

292,852

 
             

484,054

 

Semiconductors - 0.36%

               

Brooks Automation, Inc.         

   

448

     

52,170

 

 

The accompanying notes are an integral part of these financial statements.
24

INNOVATOR IBD® BREAKOUT OPPORTUNITIES ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Software - 9.11%

               

Adobe, Inc. (a)         

   

448

     

291,361

 

Cadence Design Systems, Inc. (a)         

   

1,728

     

299,134

 

Microsoft Corp.         

   

312

     

103,465

 

Monday.com Ltd. (a)(b)         

   

888

     

330,185

 

Procore Technologies, Inc. (a)         

   

3,352

     

306,540

 
             

1,330,685

 

Telecommunications - 1.39%

               

Arista Networks, Inc. (a)(b)         

   

496

     

203,206

 

TOTAL COMMON STOCKS (Cost $12,372,485)         

           

12,902,914

 
                 

MASTER LIMITED PARTNERSHIPS - 2.20%

               

Pipelines - 2.20%

               

Magellan Midstream Partners L.P.         

   

6,560

     

321,440

 

TOTAL MASTER LIMITED PARTNERSHIPS (Cost $324,130)         

           

321,440

 
                 

REAL ESTATE INVESTMENT TRUSTS - 8.84%

               

Diversified - 4.05%

               

CubeSmart         

   

5,432

     

298,814

 

Duke Realty Corp.         

   

5,200

     

292,448

 
             

591,262

 

Storage - 2.76%

               

Extra Space Storage, Inc.         

   

512

     

101,053

 

Life Storage, Inc.         

   

1,512

     

202,321

 

National Storage Affiliates Trust         

   

1,608

     

100,436

 
             

403,810

 

Warehouse/Industrial - 2.03%

               

Rexford Industrial Realty, Inc.         

   

4,416

     

296,755

 

TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $1,225,207)         

           

1,291,827

 
                 

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 14.16%

 

Units

         

Mount Vernon Liquid Assets Portfolio, LLC, 0.10% (c)         

   

2,067,735

     

2,067,735

 

TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $2,067,735)         

           

2,067,735

 

 

The accompanying notes are an integral part of these financial statements.
25

INNOVATOR IBD® BREAKOUT OPPORTUNITIES ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

SHORT TERM INVESTMENTS - 0.64%

               

Money Market Deposit Account - 0.64%

 

Principal Amount

   

Value

 

U.S. Bank Money Market Deposit Account, 0.003% (d)         

 

$

93,805

     

93,805

 

TOTAL SHORT TERM INVESTMENTS (Cost $93,805)         

           

93,805

 
                 

Total Investments (Cost $16,083,362) - 114.17%         

           

16,677,721

 

Liabilities in Excess of Other Assets - (14.17)%         

           

(2,070,653

)

TOTAL NET ASSETS - 100.00%         

         

$

14,607,068

 

 

Asset Type

 

% of Net Assets

 

Common Stocks         

   

88.33

%

Master Limited Partnerships         

   

2.20

 

Real Estate Investment Trusts         

   

8.84

 

Investments Purchased with Proceeds From Securities Lending         

   

14.16

 

Short Term Investments         

   

0.64

 

Total Investments         

   

114.17

 

Liabilities in Excess of Other Assets         

   

(14.17

)

Net Assets         

   

100.00

%

Percentages are stated as a percent of net assets.

(a)

Non-income producing security.

(b)

All or a portion of this security is on loan as of October 31, 2021. The total value of securities on loan is $2,024,697, or 13.86% of net assets. See Note 6.

(c)

Represents annualized seven-day yield as of the end of the reporting period.

(d)

The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of October 31, 2021.

 

The accompanying notes are an integral part of these financial statements.
26

 

Schedule of Investments

October 31, 2021

 

   

Shares

   

Value

 

COMMON STOCKS - 99.96%

               

Aerospace/Defense - 4.74%

               

AeroVironment, Inc. (a)(b)         

   

41,731

   

$

3,718,649

 
                 

Auto Manufacturers - 3.13%

               

Ford Motor Co. (a)         

   

143,770

     

2,455,592

 
                 

Commercial Services - 8.57%

               

Affirm Holdings, Inc. (a)         

   

25,656

     

4,169,100

 

GXO Logistics, Inc. (a)         

   

28,775

     

2,555,220

 
             

6,724,320

 

Computers - 2.72%

               

Lumentum Holdings, Inc. (a)(b)         

   

25,838

     

2,133,702

 
                 

Diversified Financial Services - 15.57%

               

Coinbase Global, Inc. - Class A (a)         

   

8,761

     

2,798,439

 

Galaxy Digital Holdings Ltd. (a)         

   

115,318

     

3,119,624

 

Nasdaq, Inc.         

   

11,004

     

2,309,409

 

Rocket Cos, Inc. - Class A (b)         

   

241,492

     

3,979,789

 
             

12,207,261

 

Electrical Components & Equipment - 2.96%

               

Novanta, Inc. (a)         

   

13,460

     

2,322,658

 
                 

Electronics - 5.89%

               

II-VI, Inc. (a)(b)         

   

38,006

     

2,299,743

 

Trimble, Inc. (a)         

   

26,525

     

2,317,489

 
             

4,617,232

 

Healthcare-Services - 3.15%

               

Teladoc Health, Inc. (a)(b)         

   

16,524

     

2,471,825

 
                 

Internet - 9.94%

               

Baidu, Inc. - ADR (a)         

   

22,352

     

3,626,389

 

Overstock.com, Inc. (a)(b)         

   

27,767

     

2,644,251

 

Snap, Inc. - Class A (a)(b)         

   

28,978

     

1,523,663

 
             

7,794,303

 

Machinery-Diversified - 4.70%

               

Harmonic Drive Systems, Inc.         

   

81,800

     

3,688,984

 

 

The accompanying notes are an integral part of these financial statements.
27

INNOVATOR LOUP FRONTIER TECH ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Miscellaneous Manufacturing - 3.03%

               

Axon Enterprise, Inc. (a)         

   

13,204

     

2,376,192

 
                 

Office/Business Equipment - 2.53%

               

Datalogic SpA         

   

109,050

     

1,980,435

 
                 

Semiconductors - 18.93%

               

Advanced Micro Devices, Inc. (a)         

   

20,702

     

2,489,001

 

Ambarella, Inc. (a)         

   

14,102

     

2,620,575

 

AMS AG (a)         

   

121,980

     

2,410,024

 

Micron Technology, Inc.         

   

31,017

     

2,143,275

 

SK Hynix, Inc.         

   

27,699

     

2,441,485

 

Teradyne, Inc.         

   

19,849

     

2,743,926

 
             

14,848,286

 

Software - 11.40%

               

Activision Blizzard, Inc.         

   

28,007

     

2,189,867

 

Pegasystems, Inc.         

   

17,460

     

2,072,851

 

Take-Two Interactive Software, Inc. (a)         

   

12,516

     

2,265,396

 

Unity Software, Inc. (a)(b)         

   

15,955

     

2,414,151

 
             

8,942,265

 

Toys/Games/Hobbies - 2.70%

               

Nintendo Co. Ltd.         

   

4,800

     

2,114,148

 

TOTAL COMMON STOCKS (Cost $72,855,853)         

           

78,395,852

 
                 

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 17.06%

 

Units

         

Mount Vernon Liquid Assets Portfolio, LLC, 0.10% (c)         

   

13,381,090

     

13,381,090

 

TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $13,381,090)         

           

13,381,090

 
                 

 

The accompanying notes are an integral part of these financial statements.
28

INNOVATOR LOUP FRONTIER TECH ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

SHORT TERM INVESTMENTS - 0.06%

               

Money Market Deposit Account - 0.06%

 

Principal Amount

   

Value

 

U.S. Bank Money Market Deposit Account, 0.003% (d)         

 

$

49,771

     

49,771

 

TOTAL SHORT TERM INVESTMENTS (Cost $49,771)         

           

49,771

 
                 

Total Investments (Cost $86,286,714) - 117.08%         

           

91,826,713

 

Liabilities in Excess of Other Assets - (17.08)%         

           

(13,398,635

)

TOTAL NET ASSETS - 100.00%         

         

$

78,428,078

 

 

Country

 

% of Net Assets

 

Austria         

   

3.07

%

China         

   

4.62

 

Italy         

   

2.53

 

Japan         

   

7.40

 

South Korea         

   

3.11

 

United States         

   

79.23

 

Total Country         

   

99.96

 

Investments Purchased with Proceeds From Securities Lending         

   

17.06

 

Short Term Investments         

   

0.06

 

Total Investments         

   

117.08

 

Liabilities in Excess of Other Assets         

   

(17.08

)

Net Assets         

   

100.00

%

Percentages are stated as a percent of net assets.

 

ADR American Depositary Receipt

(a)

Non-income producing security.

(b)

All or a portion of this security is on loan as of October 31, 2021. The total value of securities on loan is $13,451,583, or 17.15% of net assets. See Note 6.

(c)

Represents annualized seven-day yield as of the end of the reporting period.

(d)

The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of October 31, 2021.

 

The accompanying notes are an integral part of these financial statements.
29

INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

 

Schedule of Investments

October 31, 2021

 

   

Shares

   

Value

 

PREFERRED STOCKS - 99.74% (a)

               

Banks - 33.93%

               

Bank of America Corp., Series 02, 3.000% to 11/29/2021 then 3-Month Libor + 0.650% (b)         

   

31,816

   

$

759,766

 

Bank of America Corp., Series 5, 4.000% to 11/21/2021 then 3-Month Libor + 0.500% (b)         

   

30,204

     

769,296

 

Bank of America Corp., Series E, 4.000% to 11/15/2021 then 3-Month Libor + 0.350%         

   

30,116

     

760,730

 

Bank of America Corp., Series GG, 6.000%         

   

28,462

     

757,658

 

Bank of America Corp., Series HH, 5.875%         

   

28,462

     

768,759

 

Bank of America Corp., Series KK, 5.375%         

   

28,344

     

768,973

 

Bank of America Corp., Series LL, 5.000%         

   

28,705

     

767,572

 

Bank of America Corp., Series NN, 4.375%         

   

29,025

     

737,235

 

Bank of America Corp., Series PP, 4.125% (b)         

   

29,712

     

743,988

 

Bank of Hawaii Corp., Series A, 4.375%         

   

268,334

     

6,976,683

 

Cullen/Frost Bankers, Inc., Series B, 4.450% (b)         

   

257,389

     

6,833,678

 

First Citizens BancShares, Inc./NC, Series A, 5.375% (b)         

   

252,103

     

6,932,832

 

First Republic Bank/CA, Series J, 4.700% (b)         

   

64,206

     

1,721,363

 

First Republic Bank/CA, Series K, 4.125% (b)         

   

68,720

     

1,721,436

 

First Republic Bank/CA, Series L, 4.250%         

   

68,310

     

1,716,630

 

First Republic Bank/CA, Series M, 4.000%         

   

70,394

     

1,716,206

 

JPMorgan Chase & Co., Series DD, 5.750% (b)         

   

42,129

     

1,148,015

 

JPMorgan Chase & Co., Series EE, 6.000% (b)         

   

41,425

     

1,149,130

 

JPMorgan Chase & Co., Series GG, 4.750%         

   

43,650

     

1,144,503

 

JPMorgan Chase & Co., Series JJ, 4.550%         

   

43,816

     

1,144,036

 

JPMorgan Chase & Co., Series LL, 4.625% (b)         

   

43,501

     

1,137,116

 

JPMorgan Chase & Co., Series MM, 4.200%         

   

45,398

     

1,141,760

 

Northern Trust Corp., Series E, 4.700% (b)         

   

249,454

     

6,795,127

 

State Street Corp., Series D, 5.900% to 03/15/2024 then 3-Month Libor + 3.108% (b)         

   

121,942

     

3,474,128

 

State Street Corp., Series G, 5.350% to 03/15/2026 then 3-Month Libor + 3.709% (b)         

   

117,845

     

3,454,037

 

The PNC Financial Services Group, Inc., Series P, 6.125% to 05/01/2022 then 3-Month Libor + 4.067%         

   

264,412

     

6,800,677

 

Truist Financial Corp., Series O, 5.250% (b)         

   

123,253

     

3,460,944

 

Truist Financial Corp., Series R, 4.750% (b)         

   

129,421

     

3,449,070

 

 

The accompanying notes are an integral part of these financial statements.
30

INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

US Bancorp., Series B, 3.500% to 1/17/2022 then 3-Month Libor + 0.600% (b)         

   

55,735

     

1,376,655

 

US Bancorp., Series F, 6.500% to 01/15/2022 then 3-Month Libor + 4.468%         

   

54,177

     

1,375,012

 

US Bancorp., Series K, 5.500% (b)         

   

51,039

     

1,384,178

 

US Bancorp., Series L, 3.750% (b)         

   

55,712

     

1,349,902

 

US Bancorp., Series M, 4.000% (b)         

   

54,540

     

1,364,045

 
             

75,601,140

 

Capital Markets - 10.15%

               

Highland Income Fund, Series A, 5.375%         

   

265,347

     

6,960,052

 

KKR & Co., Inc., Series C, 6.000%, 09/15/2023 (b)         

   

86,326

     

8,636,053

 

Oaktree Capital Group LLC, Series B, 6.550%         

   

257,484

     

7,029,313

 
             

22,625,418

 

Diversified Financial Services - 9.31%

               

Apollo Global Management, Inc., Series A, 6.375%         

   

266,750

     

6,948,837

 

Apollo Global Management, Inc., Series B, 6.375% (b)         

   

254,341

     

6,864,664

 

The Charles Schwab Corp., Series D, 5.950%         

   

134,958

     

3,467,071

 

The Charles Schwab Corp., Series J, 4.450%         

   

131,501

     

3,463,736

 
             

20,744,308

 

Electric - 6.18%

               

Alabama Power Co., Series A, 5.000%         

   

263,199

     

6,856,334

 

Brookfield Renewable Partners LP, Series 17, 5.250%         

   

261,053

     

6,910,073

 
             

13,766,407

 

Insurance - 27.80%

               

Arch Capital Group Ltd., Series F, 5.450%         

   

133,129

     

3,465,348

 

Arch Capital Group Ltd., Series G, 4.550%         

   

131,905

     

3,422,935

 

Athene Holding Ltd., Series A, 6.350% to 06/30/2029 then 3-Month USD Libor + 4.253%         

   

58,070

     

1,735,712

 

Athene Holding Ltd., Series B, 5.625%         

   

63,471

     

1,733,393

 

Athene Holding Ltd., Series C, 6.375% to 09/30/2025 then Five-Year Treasury Constant Maturity + 5.970% (b)         

   

60,583

     

1,749,637

 

 

The accompanying notes are an integral part of these financial statements.
31

INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Athene Holding Ltd., Series D, 4.875%         

   

65,978

     

1,706,851

 

Axis Capital Holdings Ltd., Series E, 5.500%         

   

273,891

     

6,907,532

 

MetLife, Inc., Series A, 4.000% to 12/15/2021 then 3-Month Libor + 1.000%         

   

90,256

     

2,292,502

 

MetLife, Inc., Series E, 5.625% (b)         

   

84,376

     

2,301,777

 

MetLife, Inc., Series F, 4.750%         

   

85,604

     

2,297,611

 

PartnerRe Ltd., Series J, 4.875%         

   

256,429

     

6,941,534

 

Prudential PLC, 6.500% (b)         

   

130,206

     

3,330,669

 

Prudential PLC, 6.750%         

   

130,848

     

3,343,166

 

RenaissanceRe Holdings Ltd., Series F, 5.750%         

   

127,786

     

3,474,502

 

RenaissanceRe Holdings Ltd., Series G, 4.200% (b)         

   

137,441

     

3,460,764

 

The Allstate Corp., 5.100% to 01/15/2023 then 3-Month Libor + 3.165%, 01/15/2053 (b)         

   

86,055

     

2,319,182

 

The Allstate Corp., Series H. 5.100%         

   

83,884

     

2,273,256

 

The Allstate Corp., Series I, 4.750% (b)         

   

83,424

     

2,269,133

 

The Hartford Financial Services Group, Inc., 7.875% to 04/15/2022 then 3-Month Libor + 5.596%, 04/15/2042         

   

132,512

     

3,453,263

 

The Hartford Financial Services Group, Inc., Series G, 6.000%         

   

124,817

     

3,461,175

 
             

61,939,942

 

Real Estate Investment Trusts - 9.27%

               

Kimco Realty Corp., Series L, 5.125%         

   

132,123

     

3,439,162

 

Kimco Realty Corp., Series M, 5.250%         

   

131,197

     

3,501,648

 

PS Business Parks, Inc., Series X, 5.250%         

   

87,033

     

2,271,561

 

PS Business Parks, Inc., Series Y, 5.200%         

   

87,903

     

2,314,486

 

PS Business Parks, Inc., Series Z, 4.875%         

   

83,362

     

2,259,110

 

Public Storage, Series E, 4.900%         

   

24,891

     

630,738

 

Public Storage, Series F, 5.150%         

   

24,226

     

627,211

 

Public Storage, Series G, 5.050%         

   

24,367

     

645,726

 

Public Storage, Series H, 5.600%         

   

22,457

     

622,733

 

Public Storage, Series I, 4.875% (b)         

   

22,788

     

614,820

 

Public Storage, Series L, 4.625%         

   

23,020

     

622,231

 

Public Storage, Series M, 4.125% (b)         

   

23,945

     

618,020

 

Public Storage, Series N, 3.875% (b)         

   

24,159

     

615,088

 

Public Storage, Series O, 3.900% (b)         

   

23,945

     

612,992

 

Public Storage, Series P, 4.000%         

   

24,474

     

620,171

 

Public Storage, Series Q, 3.950%         

   

24,637

     

625,780

 
             

20,641,477

 

 

The accompanying notes are an integral part of these financial statements.
32

INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

   

Shares

   

Value

 

Savings & Loans - 3.10%

               

Washington Federal, Inc., Series A, 4.875%         

   

261,998

     

6,901,027

 

TOTAL PREFERRED STOCKS (Cost $219,162,411)         

           

222,219,719

 

 

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 10.69%

 

Units

         

Mount Vernon Liquid Assets Portfolio, LLC, 0.10% (c)         

   

23,817,802

     

23,817,802

 

TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $23,817,802)         

           

23,817,802

 
                 

SHORT TERM INVESTMENTS - 0.43%

               

 

Money Market Deposit Account - 0.43%

 

Principal

Amount

         

U.S. Bank Money Market Deposit Account, 0.003% (d)         

 

$

957,914

     

957,914

 

TOTAL SHORT TERM INVESTMENTS (Cost $957,914)         

           

957,914

 
                 

Total Investments (Cost $243,938,127) - 110.86%         

           

246,995,435

 

Liabilities in Excess of Other Assets - (10.86)%         

           

(24,201,739

)

TOTAL NET ASSETS - 100.00%         

         

$

222,793,696

 
                 

 

The accompanying notes are an integral part of these financial statements.
33

INNOVATOR S&P INVESTMENT GRADE PREFERRED ETF

 

Schedule of Investments

October 31, 2021 (Continued)

 

Asset Type

 

% of Net Assets

 

Preferred Stocks         

   

99.74

%

Investments Purchased with Proceeds From Securities Lending         

   

10.69

 

Short Term Investments         

   

0.43

 

Total Investments         

   

110.86

 

Liabilities in Excess of Other Assets         

   

(10.86

)

Net Assets         

   

100.00

%

Percentages are stated as a percent of net assets.

 

USD - United States Dollar

Libor - London Interbank Offered Rate

(a)

Securities with no stated maturity date are perpetual in nature.

(b)

All or a portion of this security is on loan as of October 31, 2021. The total value of securities on loan is $23,270,681, or 10.44% of net assets. See Note 6.

(c)

Represents annualized seven-day yield as of the end of the reporting period.

(d)

The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of October 31, 2021.

 

The accompanying notes are an integral part of these financial statements.
34

INNOVATOR LADDERED FUND OF U.S. EQUITY POWER BUFFER ETFS

 

Schedule of Investments

October 31, 2021

 

   

Shares

   

Value

 

AFFILIATED EXCHANGE TRADED FUNDS - 99.80% (a)

               

Innovator U.S. Equity Power Buffer ETF - January         

   

173,895

   

$

5,754,186

 

Innovator U.S. Equity Power Buffer ETF - February         

   

198,278

     

5,744,153

 

Innovator U.S. Equity Power Buffer ETF - March         

   

184,322

     

5,769,279

 

Innovator U.S. Equity Power Buffer ETF - April         

   

197,955

     

5,757,521

 

Innovator U.S. Equity Power Buffer ETF - May (b)         

   

191,033

     

5,777,812

 

Innovator U.S. Equity Power Buffer ETF - June         

   

181,089

     

5,771,325

 

Innovator U.S. Equity Power Buffer ETF - July         

   

189,759

     

5,783,854

 

Innovator U.S. Equity Power Buffer ETF - August         

   

192,769

     

5,786,925

 

Innovator U.S. Equity Power Buffer ETF - September (b)         

   

192,933

     

5,780,273

 

Innovator U.S. Equity Power Buffer ETF - October         

   

192,078

     

5,785,351

 

Innovator U.S. Equity Power Buffer ETF - November (b)         

   

187,992

     

5,745,976

 

Innovator U.S. Equity Power Buffer ETF - December         

   

185,204

     

5,741,324

 

TOTAL EXCHANGE TRADED FUNDS (Cost $65,272,998)         

           

69,197,979

 
                 

INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING - 6.71%

 

Units

         

Mount Vernon Liquid Assets Portfolio, LLC, 0.10% (c)         

   

4,654,050

     

4,654,050

 

TOTAL INVESTMENTS PURCHASED WITH PROCEEDS FROM SECURITIES LENDING (Cost $4,654,050)         

           

4,654,050

 
                 

SHORT TERM INVESTMENTS - 0.21%

               

Money Market Deposit Account - 0.21%

 

Principal Amount

         

U.S. Bank Money Market Deposit Account, 0.003% (d)         

 

$

142,316

     

142,316

 

TOTAL SHORT TERM INVESTMENTS (Cost $142,316)         

           

142,316

 
                 

Total Investments (Cost $70,069,364) - 106.72%         

           

73,994,345

 

Liabilities in Excess of Other Assets - (6.72)%         

           

(4,656,911

)

TOTAL NET ASSETS - 100.00%         

         

$

69,337,434

 

 

The accompanying notes are an integral part of these financial statements.
35

INNOVATOR LADDERED FUND OF U.S. EQUITY POWER BUFFER ETFS

 

Schedule of Investments

October 31, 2021 (Continued)

 

Asset Type

 

% of Net Assets

 

Affiliated Exchange Traded Funds         

   

99.80

%

Investments Purchased with Proceeds From Securities Lending         

   

6.71

 

Short Term Investments         

   

0.21

 

Total Investments         

   

106.72

 

Liabilities in Excess of Other Assets         

   

(6.72

)

Net Assets         

   

100.00

%

Percentages are stated as a percent of net assets.

(a)

Non-income producing security.

(b)

All or a portion of this security is on loan as of October 31, 2021. The total value of securities on loan is $4,550,790, or 6.56% of net assets. See Note 6.

(c)

Represents annualized seven-day yield as of the end of the reporting period.

(d)

The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of October 31, 2021.

 

The accompanying notes are an integral part of these financial statements.
36

INNOVATOR ETFs TRUST

 

Statements of Assets and Liabilities

October 31, 2021

 

       

Innovator IBD® 50 ETF

   

Innovator IBD® Breakout Opportunities ETF

   

Innovator Loup Frontier Tech ETF

 
 

Assets:

                         
 

Investments, at value(a)(b)         

   

$

360,375,390

   

$

16,677,721

   

$

91,826,713

 
 

Dividends and interest receivable         

   

56,702

     

7,297

     

30,108

 
 

Receivable for investments sold         

   

47,822,550

     

-

     

-

 
 

Securities lending income receivable         

   

112,352

     

112

     

1,068

 
 

Prepaid expenses         

   

1,909

     

-

     

-

 
 

Total Assets         

   

408,368,903

     

16,685,130

     

91,857,889

 
                             
 

Liabilities:

                         
 

Payable for collateral upon return of securities loaned         

   

85,779,500

     

2,067,735

     

13,381,090

 
 

Payable to Adviser         

   

116,613

     

9,893

     

45,955

 
 

Payable for investments purchased         

   

48,041,801

     

-

     

-

 
 

Payable to Trustees         

   

3,923

     

-

     

-

 
 

Payable to Custodian         

   

2,596

     

-

     

-

 
 

Accrued expenses and other liabilities         

   

59,663

     

434

     

2,766

 
 

Total Liabilities         

   

134,004,096

     

2,078,062

     

13,429,811

 
 

Net Assets         

 

$

274,364,807

   

$

14,607,068

   

$

78,428,078

 
                             
 

Net Assets Consist of:

                         
 

Capital stock         

 

$

456,948,423

   

$

21,815,822

   

$

82,631,563

 
 

Total distributable earnings/(accumulated deficit)         

   

(182,583,616

)

   

(7,208,754

)

   

(4,203,485

)

 

Net Assets         

 

$

274,364,807

   

$

14,607,068

   

$

78,428,078

 
                             
 

Net Asset Value:

                         
 

Net assets         

 

$

274,364,807

   

$

14,607,068

   

$

78,428,078

 
 

Shares of beneficial interest outstanding (unlimted shares without par authorized)         

   

5,450,000

     

400,000

     

1,400,001

 
 

Net asset value price per share         

 

$

50.34

   

$

36.52

   

$

56.02

 
                             

(a)

Cost of investments         

 

$

327,514,971

   

$

16,083,362

   

$

86,286,714

 

(b)

Including securities on loan at a value of         

   

71,139,234

     

2,024,697

     

13,451,583

 

 

The accompanying notes are an integral part of these financial statements.
37

INNOVATOR ETFs TRUST

 

 

Statements of Assets and Liabilities

October 31, 2021 (Continued)

 

     

Innovator S&P Investment Grade Preferred ETF

     

Innovator Laddered Fund of U.S. Equity Power Buffer ETFs

 
 

Assets:

                 
 

Investments, at value (a)

  $ 246,995,435  

(b)

  $ 4,796,366  
 

Investments in affiliates, at value (c)

    -         69,197,979  (b)
 

Dividends and interest receivable

    425,483         -  
 

Receivable for investments sold

    32,700         -  
 

Receivable for fund shares sold

    -         1,776,420  
 

Securities lending income receivable

    30,015         4,621  
 

Total Assets

    247,483,633         75,775,386  
                     
 

Liabilities:

                 
 

Payable to Adviser

    90,135         11,237  
 

Distribution payable

    782,000         -  
 

Payable for investments purchased

    -         1,772,665  
 

Payable for collateral upon return of securities loaned

    23,817,802         4,654,050  
 

Total Liabilities

    24,689,937         6,437,952  
 

Net Assets

  $ 222,793,696       $ 69,337,434  
                     
 

Net Assets Consist of:

                 
 

Capital stock

  $ 223,962,797       $ 104,089,885  
 

Total distributable earnings/(accumulated deficit)

    (1,169,101

)

      (34,752,451

)

 

Net Assets

  $ 222,793,696       $ 69,337,434  
                     
 

Net Asset Value:

                 
 

Net assets

  $ 222,793,696       $ 69,337,434  
 

Shares of beneficial interest outstanding (unlimited shares without par authorized) (d)

    9,200,000         1,950,000  
 

Net asset value price per share

  $ 24.22       $ 35.56  
                     

(a)

Cost of investments

  $ 243,938,127       $ 4,796,366  

(b)

Including securities on loan at a value of

    23,270,681         4,550,790  

(c)

Cost of investments in affiliates

    -         65,272,998  

(d)

Shares of the respective Acquired Fund converted into Fund shares at the start of business on October 14, 2021. See Note 11 to the Financial Statements.

                 

 

The accompanying notes are an integral part of these financial statements.
38

INNOVATOR ETFs TRUST

 

Statements of Operations

For the Year Ended October 31, 2021

   

Innovator IBD® 50 ETF

   

Innovator IBD® Breakout Opportunities ETF

   

Innovator Loup Frontier Tech ETF

 

Investment Income:

                       

Dividends         

 

$

1,493,352

   

$

110,176

   

$

272,576

 

Less: Foreign witholding taxes and issuance fees         

   

(11,882

)

   

(2,676

)

   

(31,279

)

Interest         

   

74

     

3

     

6

 

Securities lending income, net         

   

922,917

     

14,768

     

78,814

 

Total Investment Income         

   

2,404,461

     

122,271

     

320,117

 
                         

Expenses:

                       

Investment advisory fee         

   

1,652,041

     

133,211

     

518,693

 

Professional fees         

   

51,784

     

-

     

-

 

Administration fees         

   

72,331

     

-

     

-

 

Fund accounting fees         

   

1,318

     

-

     

-

 

Trustees fees and expenses         

   

15,635

     

-

     

-

 

Printing and mailing expenses         

   

21,639

     

-

     

-

 

Custody fees         

   

13,151

     

-

     

-

 

Insurance expense         

   

3,301

     

-

     

-

 

Registration fees         

   

2,219

     

-

     

-

 

Other expenses         

   

363,729

     

-

     

-

 

Total Expenses Before Expense Limitation         

   

2,197,148

     

133,211

     

518,693

 

Net advisory recoupment/(waivers)(see Note 3)         

   

(309,101

)

   

-

     

-

 

Net Expenses         

   

1,888,047

     

133,211

     

518,693

 

Net Investment Income/(Loss)         

   

516,414

     

(10,940

)

   

(198,576

)

                         

Realized & Unrealized Gain/(Loss):

                       

Net realized gain/(loss) on:

                       

Investments and foreign currency transactions         

   

(20,433,383

)

   

(4,663,177

)

   

(7,653,752

)

Redemptions sold in-kind on investments         

   

68,304,315

     

6,532,599

     

15,839,391

 

Net change in unrealized appreciation/(depreciation) on:

                       

Investments and translation of foreign currency         

   

21,260,902

     

777,977

     

2,224,157

 

Net Realized and Unrealized Gain/(Loss)         

   

69,131,834

     

2,647,399

     

10,409,796

 

Net Increase/(Decrease) in Net Assets Resulting From Operations         

 

$

69,648,248

   

$

2,636,459

   

$

10,211,220

 

 

The accompanying notes are an integral part of these financial statements.
39

INNOVATOR ETFs TRUST

 

Statements of Operations

For the Year Ended October 31, 2021 (Continued)

 

     

Innovator S&P Investment Grade Preferred ETF

   

Innovator Laddered Fund of U.S. Equity Power Buffer ETFs

 

Investment Income:

               

Dividends         

 

$

10,055,019

   

$

-

 

Interest         

   

53

     

2

 

Securities lending income, net         

   

194,894

     

31,923

 

Total Investment Income         

   

10,249,966

     

31,925

 
                   

Expenses:

               

Investment advisory fee         

   

932,206

     

105,050

 

Tax expense         

   

32

     

-

 

Total Expenses         

   

932,238

     

105,050

 

Net Investment Income/(Loss)         

   

9,317,728

     

(73,125

)

                   

Realized & Unrealized Gain/(Loss):

               

Net realized gain/(loss) on:

               
 

Investments         

   

(2,156,279

)

   

-

 
 

Redemptions sold in-kind on investments         

   

1,077,555

     

-

 
 

Redemptions sold in-kind on affiliates         

   

-

     

1,307,988

 
 

Investments in affiliates         

   

-

     

6,929

 

Net change in unrealized appreciation/(depreciation) on:

               
 

Investments         

   

2,353,258

     

-

 
 

Investments in affiliates         

   

-

     

4,326,731

 

Net Realized and Unrealized Gain/(Loss)         

   

1,274,534

     

5,641,648

 

Net Increase/(Decrease) in Net Assets Resulting From Operations         

 

$

10,592,262

   

$

5,568,523

 

 

The accompanying notes are an integral part of these financial statements.
40

INNOVATOR ETFs TRUST

 

Statements of Changes in Net Assets 

 

   

Innovator IBD® 50 ETF

 
   

Year Ended

   

Year Ended

 
   

October 31, 2021

   

October 31, 2020

 
                 

Operations:

               

Net investment income/(loss)         

 

$

516,414

   

$

272,870

 

Net realized gain/(loss)         

   

47,870,932

     

28,614,638

 

Net change in unrealized appreciation/(depreciation)         

   

21,260,902

     

(11,998,873

)

Net Increase/(Decrease) in Net Assets Resulting from Operations         

   

69,648,248

     

16,888,635

 
                 

Capital Share Transactions:

               

Proceeds from shares sold         

   

327,062,865

     

282,705,360

 

Cost of shares redeemed         

   

(303,970,475

)

   

(444,718,170

)

Transaction fees (see Note 5)         

   

30

     

-

 

Net Increase/(Decrease) in Net Assets from Capital Share Transactions         

   

23,092,420

     

(162,012,810

)

Total Increase/(Decrease) in Net Assets         

 

$

92,740,668

   

$

(145,124,175

)

                 

Net Assets:

               

Beginning of period         

 

$

181,624,139

   

$

326,748,314

 

End of period         

 

$

274,364,807

   

$

181,624,139

 
                 

Change in Shares Outstanding:

               

Shares sold          

   

7,100,000

     

8,050,000

 

Shares redeemed         

   

(6,700,000

)

   

(12,850,000

)

Net Increase/(Decrease)         

   

400,000

     

(4,800,000

)

 

The accompanying notes are an integral part of these financial statements.
41

INNOVATOR ETFs TRUST

 

 

 

Innovator IBD® Breakout Opportunities ETF

   

Innovator Loup Frontier Tech ETF

 
 

Year Ended

   

Year Ended

   

Year Ended

   

Year Ended

 
 

October 31, 2021

   

October 31, 2020

   

October 31, 2021

   

October 31, 2020

 
                               
                               
 

$

(10,940

)

 

$

(7,374

)

 

$

(198,576

)

 

$

(38,847

)

   

1,869,422

     

1,498,561

     

8,185,639

     

2,424,092

 
   

777,977

     

(347,210

)

   

2,224,157

     

3,589,219

 

 

 

2,636,459

     

1,143,977

     

10,211,220

     

5,974,464

 
                               
                               
   

75,836,535

     

9,997,395

     

107,818,940

     

6,456,430

 
   

(69,749,030

)

   

(13,035,075

)

   

(56,415,275

)

   

(6,290,925

)

   

-

     

-

     

7,950

     

1,530

 

 

 

6,087,505

     

(3,037,680

)

   

51,411,615

     

167,035

 
 

$

8,723,964

   

$

(1,893,703

)

 

$

61,622,835

   

$

6,141,499

 
                               
                               
 

$

5,883,104

   

$

7,776,807

   

$

16,805,243

   

$

10,663,744

 
 

$

14,607,068

   

$

5,883,104

   

$

78,428,078

   

$

16,805,243

 
                               
                               
   

2,200,000

     

450,000

     

2,000,000

     

200,000

 
   

(2,050,000

)

   

(600,000

)

   

(1,050,000

)

   

(200,000

)

   

150,000

     

(150,000

)

   

950,000

     

-

 

 

The accompanying notes are an integral part of these financial statements.
42

INNOVATOR ETFs TRUST

 

Statements of Changes in Net Assets 

 

 

 
 
 

Operations:

Net investment income/(loss)         

Net realized gain/(loss)         

Net change in unrealized appreciation/(depreciation)         

Net Increase/(Decrease) in Net Assets Resulting from Operations