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TABLE OF CONTENTS

 

Letter to Shareholders

3

Fund Performance

5

Expense Example

101

Schedules of Investments

104

Statements of Assets and Liabilities

190

Statements of Operations

212

Statements of Changes in Net Assets

234

Financial Highlights

256

Notes to Financial Statements

278

Report of Independent Registered Public Accounting Firm

310

Trustees and Officers

316

Board Considerations Regarding Approval of Investment Management

318

Additional Information

325

 

 

 

Letter to Shareholders (Unaudited)

 

Dear Valued Shareholders,

 

The 12-month period ending October 31, 2023 played out differently than many had anticipated. The S&P 500 climbed nearly 20% during the first nine months, only to fall 11% during the last three months. The recession that many expected to come never manifested, but signs of its approach began to take form.

In its fight against inflation, the Federal Reserve continued the tightening cycle it had begun earlier in 2022. In addition to increasing the Fed Funds rate 2.25 percentage points, it also reduced the size of its balance sheet by more than $800 billion over the period. These efforts appeared to pay off, as inflation fell from 7.7% at the start of the period to 3.2% by the end of it. Whether or not the Fed will be able to get inflation back down to its 2% target without also triggering a recession remains to be seen.

 

Equity market volatility trended lower over the period as investors grew increasingly confident that the Fed was moving closer to the end of its hawkish posture. Over the period, five stocks accounted for more than 75% of the S&P 500’s 10.1% return, hinting at the risks of such a broad index being dominated by so few constituents.

 

In the face of equity market uncertainty and bond market volatility, investors continued to look for ways to maintain exposure to the market’s upside potential while also seeking to mitigate downside risk. During the period, Innovator brought 20 new ETFs to market, including the first Defined Income and Defined Protection ETFs. Strong inflows contributed to a 60% increase in our assets under management. In August, we marked the five-year anniversary of the launch of the world’s first Defined Outcome ETFs. Today, with close to 100 Defined Outcome ETFs, we offer the industry’s largest and widest ranging lineup and we have no intention of slowing down.

 

On behalf of the team at Innovator, thank you for the confidence and trust you’ve place in us and our products over the past year. We are eager to continue working with you in the months ahead and wish you all the best in the coming year.

 

bondsig.jpg
 

Bruce Bond,

CEO

 

3

 

Letter to Shareholders (Unaudited) (Continued)

 

Market data sourced from Bloomberg LP

 

The views in this report were those of the Fund’s CEO as of October 31, 2023 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.

 

The Funds 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.

 

Investing involves risks. Loss of principal is possible.

 

The Funds' investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus and summary 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.

 

4

 

Fund Performance Overview (Unaudited)

 

The performance overview below applies to the following funds:

 

 

Innovator Emerging Markets Power Buffer ETF – January

 

Innovator Emerging Markets Power Buffer ETF – April

 

Innovator Emerging Markets Power Buffer ETF – July

 

Innovator Emerging Markets Power Buffer ETF – October

 

The Fund seeks to match the price returns of the iShares MSCI Emerging Markets ETF (EEM) up to a stated upside Cap, while limiting downside losses to EEM by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the MSCI Emerging Markets Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the MSCI Emerging Markets Index. Alternatively, in markets where the MSCI Emerging Markets Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than EEM.

The year ending October 31st, 2023 saw moderate growth from the MSCI Emerging Markets Index, driven by strong performance through Q4 2022 and January 2023 as EM economies benefited from the prospect of deglobalization. However, rising interest rates in the US throughout 2023 delivered a shock to EM debt, increasing borrowing costs and presenting a headwind to economic growth.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

5

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator International Developed Power Buffer ETF – January

 

Innovator International Developed Power Buffer ETF – April

 

Innovator International Developed Power Buffer ETF – July

 

Innovator International Developed Power Buffer ETF – September

 

Innovator International Developed Power Buffer ETF – October

 

The Fund seeks to match the price returns of the iShares MSCI EAFE ETF (EFA) up to a stated upside Cap, while limiting downside losses to EFA by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the MSCI EAFE Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the MSCI EAFE Index. Alternatively, in markets where the MSCI EAFE Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than EFA.

 

The MSCI EAFE Index delivered strong performance over the year ending October 31st, 2023. Performance was especially strong over the first three quarters, driven in part by a weaker U.S. dollar. As borrowing costs rose and expectations shifted toward higher for longer interest rates in Q3 2023, international developed economies posted losses as investors repositioned for potential macroeconomic headwinds.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

6

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator 20+ Year Treasury Bond 9 Buffer ETF – July

 

The Fund seeks to match the price returns of the iShares 20+ Year U.S. Treasury ETF (TLT) up to a stated upside Cap, while limiting downside losses to TLT by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the I.C.E US Treasury 20+ Year Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the I.C.E US Treasury 20+ Year Index. Alternatively, in markets where the I.C.E US Treasury 20+ Year Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than TLT.

The year ending October 31st, 2023 was difficult for 20+ Year Treasuries given the restrictive macroeconomic environment. Longer dated fixed income instruments carry the most interest rate risk – and as the Fed continued to hike rates, 20+ Year Treasuries posted further price losses.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

7

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator 20+ Year Treasury Bond 5 Floor ETF – Quarterly

 

The Fund seeks to match the price returns of the iShares 20+ Year U.S. Treasury ETF (TLT) up to a stated upside Cap, while limiting downside losses to TLT by the amount of its stated Floor over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the I.C.E US Treasury 20+ Year Index is down, the risk mitigation attributes of the stated Floor provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the I.C.E US Treasury 20+ Year Index. Alternatively, in markets where the I.C.E US Treasury 20+ Year Index is appreciating, the risk mitigation attributes of the Floor may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Floor will also cause the Fund to experience different returns than TLT.

The year ending October 31st, 2023 was difficult for 20+ Year Treasuries given the restrictive macroeconomic environment. Longer dated fixed income instruments carry the most interest rate risk – and as the Fed continued to hike rates, 20+ Year Treasuries posted further price losses.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

8

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator Defined Wealth Shield ETF

 

Innovator Equity Defined Protection ETF – 2 Yr to July 2025

 

The Fund seeks to match the price returns of the SPDR S&P 500 ETF Trust (SPY) up to a stated upside Cap, while limiting downside losses to SPY by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the S&P 500 Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the S&P 500 Index. Alternatively, in markets where the S&P 500 Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than SPY.

 

The S&P 500 Index delivered strong positive returns over the year ending October 31st, 2023 -- largely driven by the performance of the "Magnificent 7" stocks as well as expectations of more accommodative monetary policy in the near future.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

9

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator Double Stacker ETF – January

 

Innovator Triple Stacker ETF – January

 

The Fund seeks to match the price returns of the SPDR S&P 500 ETF Trust (SPY), plus any positive returns of one or two additional benchmark ETFs, up to a stated upside Cap, over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the S&P 500 Index is down, the Fund will generally provide similar losses to the S&P 500 Index plus any benchmark ETF gains at the end of the Outcome Period, subject to the Cap. Alternatively, in markets where the S&P 500 Index or the benchmark ETFs are appreciating, the Fund seeks to provide returns of SPY plus benchmark ETF gains, limited by the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than SPY and the benchmark ETFs.

 

The S&P 500 Index delivered strong positive returns over the year ending October 31st, 2023 -- largely driven by the performance of the "Magnificent 7" stocks as well as expectations of more accommodative monetary policy in the near future.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

10

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following fund:

 

 

Innovator Double Stacker 9 Buffer ETF – January

 

The Fund seeks to match the price returns of the SPDR S&P 500 ETF Trust (SPY), plus any positive returns of one or two additional benchmark ETFs, up to a stated upside Cap while limiting downside losses to SPY by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the S&P 500 Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the S&P 500 Index. Alternatively, in markets where the S&P 500 Index or the benchmark ETFs are appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than SPY and the benchmark ETFs.

The S&P 500 Index delivered strong positive returns over the year ending October 31st, 2023 -- largely driven by the performance of the "Magnificent 7" stocks as well as expectations of more accommodative monetary policy in the near future.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

11

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator Growth-100 Power Buffer ETF – January

 

Innovator Growth-100 Power Buffer ETF – April

 

Innovator Growth-100 Power Buffer ETF – July

 

Innovator Growth-100 Power Buffer ETF – October

 

The Fund seeks to match the price returns of the Invesco QQQ Trust (QQQ) up to a stated upside Cap, while limiting downside losses to QQQ by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the Nasdaq-100 Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the Nasdaq-100 Index. Alternatively, in markets where the Nasdaq-100 Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than QQQ.

 

The Nasdaq-100 Index posted strong positive performance over the year ending October 31st, 2023 as the technology industry continued to deliver strong earnings despite higher interest rates. With the Fed reaching the end of its hiking cycle, investor excitement about more accommodative monetary policy in the future delivered further tailwinds to the index which is highly concentrated in Magnificent 7 companies.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

12

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator U.S. Small Cap Power Buffer ETF – January

 

Innovator U.S. Small Cap Power Buffer ETF – April

 

Innovator U.S. Small Cap Power Buffer ETF – July

 

Innovator U.S. Small Cap Power Buffer ETF – October

 

The Fund seeks to match the price returns of the iShares Russell 2000 ETF (IWM) up to a stated upside Cap, while limiting downside losses to IWM by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the Russell 2000 Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the Russell 2000 Index. Alternatively, in markets where the Russell 2000 Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than IWM.

 

The Russell 2000 Index posted sluggish growth over the year ending October 31st, 2023. Small cap companies, which tend to be more vulnerable to monetary policy actions, delivered mixed results as companies digested the costs of higher interest rates.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

13

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator U.S. Equity Accelerated ETF – January

 

Innovator U.S. Equity Accelerated ETF – April

 

Innovator U.S. Equity Accelerated ETF – July

 

Innovator U.S. Equity Accelerated ETF – October

 

Innovator U.S. Equity Accelerated Plus ETF – January

 

Innovator U.S. Equity Accelerated Plus ETF – April

 

Innovator U.S. Equity Accelerated Plus ETF – July

 

Innovator U.S. Equity Accelerated Plus ETF – October

 

Innovator U.S. Equity Accelerated ETF – Quarterly

 

The Funds seek to provide accelerated returns of the SPDR S&P 500 ETF Trust (SPY) up to a stated Cap over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the S&P 500 Index is down, the Fund will generally provide similar losses to the S&P 500 Index at the end of the Outcome Period. Alternatively, in markets where the S&P 500 Index is appreciating, the Funds seek to provide accelerated returns of SPY, limited by the Fund’s Cap, which limits the amount of potential accelerated Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap may also cause the Fund to experience different returns than SPY.

 

The S&P 500 index delivered strong positive returns over the year ending October 31st, 2023 -- largely driven by the performance of the "Magnificent 7" stocks as well as expectations of more accommodative monetary policy in the near future.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

14

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator U.S. Equity Accelerated 9 Buffer ETF – January

 

Innovator U.S. Equity Accelerated 9 Buffer ETF – April

 

Innovator U.S. Equity Accelerated 9 Buffer ETF – July

 

Innovator U.S. Equity Accelerated 9 Buffer ETF – October

 

The Funds seek to provide accelerated returns of the SPDR S&P 500 ETF Trust (SPY) up to a stated Cap, while limiting downside losses to SPY by the amount of its stated Buffer over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the S&P 500 Index is down, the risk mitigation attributes of the stated Buffer provide an opportunity for the Funds to soften market losses during the reporting periods and outperform the S&P 500 Index. Alternatively, in markets where the S&P 500 Index is appreciating, the risk mitigation attributes of the Buffer may limit the upside accelerated performance over the reporting periods by virtue of the Fund’s Cap, which limits the amount of potential Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap and the Buffer will also cause the Fund to experience different returns than SPY.

 

The S&P 500 index delivered strong positive returns over the year ending October 31st, 2023 -- largely driven by the performance of the "Magnificent 7" stocks as well as expectations of more accommodative monetary policy in the near future.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

15

 

Fund Performance Overview (Unaudited) (Continued)

 

The performance overview below applies to the following funds:

 

 

Innovator Growth Accelerated Plus ETF – January

 

Innovator Growth Accelerated Plus ETF – April

 

Innovator Growth Accelerated Plus ETF – July

 

Innovator Growth Accelerated Plus ETF – October

 

Innovator Growth Accelerated ETF – Quarterly

 

The Funds seek to provide accelerated returns of the Invesco QQQ Trust (QQQ) up to a stated Cap over the course of the Outcome Period. Because the periods contemplated herein do not align with the Outcome Period of the Funds, the Funds’ performance stated over the periods covered by this report does not reflect the implementation of the Funds’ investment strategy for the full Outcome Period.

 

In markets where the Nasdaq-100 Index is down, the Fund will generally provide similar losses to the Nasdaq-100 Index at the end of the Outcome Period. Alternatively, in markets where the Nasdaq-100 Index is appreciating, the Funds seek to provide accelerated returns of QQQ, limited by the Fund’s Cap, which limits the amount of potential accelerated Fund gains and represents the absolute maximum return that the Fund can achieve for its Outcome Period. The effect of the Cap may also cause the Fund to experience different returns than QQQ.

 

The Nasdaq-100 Index posted strong positive performance over the year ending October 31st, 2023 as the technology industry continued to deliver strong earnings despite higher interest rates. With the Fed reaching the end of its hiking cycle, investor excitement about more accommodative monetary policy in the future delivered further tailwinds to the index which is highly concentrated in Magnificent 7 companies.

 

The Funds website, www.innovatoretfs.com, provides important information relating to each Fund, including potential Outcomes of an investment in the Fund. One cannot invest directly in an index. Past performance does not guarantee future results.

 

16

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JANUARY

 

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Emerging Markets Power Buffer ETF - January from its inception (December 31, 2019) to October 31, 2023 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

emmkpowbuffjanchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - January

                       

NAV Return

    9.50

%

    -0.43

%

    0.11

%

Market Return

    9.49

%

    -0.41

%

    0.08

%

MSCI Emerging Markets Index - Price Return

    7.90

%

    -6.05

%

    -5.01

%

MSCI Emerging Markets Index - Total Return

    10.80

%

    -3.67

%

    -2.66

%

 

(a) Inception date is December 31, 2019.

 

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 0.89%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

17

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2023 (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 and MSCI Emerging Markets Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI Emerging Markets Index - Price Return do not include the reinvestment of dividends, if any. 

 

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

 

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/EJAN. 

 

18

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Emerging Markets Power Buffer ETF - April from its inception (March 31, 2021) to October 31, 2023 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

emmkpowbuffaplchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - April

               

NAV Return

    9.84

%

    -2.09

%

Market Return

    10.32

%

    -2.04

%

MSCI Emerging Markets Index - Price Return

    7.90

%

    -13.11

%

MSCI Emerging Markets Index - Total Return

    10.80

%

    -10.75

%

 

(a) Inception date is March 31, 2021.

 

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 0.89%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

19

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued) 

 

The line graph and performance table does 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 and MSCI Emerging Markets Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI Emerging Markets Index - Price Return do not include the reinvestment of dividends, if any. 

 

The MSCI Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of emerging markets.

 

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/EAPR. 

 

20

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Emerging Markets Power Buffer ETF - July from its inception (June 28, 2019) to October 31, 2023 as compared with the MSCI Emerging Markets Index – Price Return and Total Return.

 

emmkpowbuffjulchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - July

                       

NAV Return

    4.12

%

    -4.79

%

    -2.91

%

Market Return

    4.11

%

    -4.66

%

    -2.93

%

MSCI Emerging Markets Index - Price Return

    7.90

%

    -6.05

%

    -3.22

%

MSCI Emerging Markets Index - Total Return

    10.80

%

    -3.67

%

    -0.80

%

 

(a) Inception date is June 28, 2019.

 

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 0.89%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

21

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2023 (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 and MSCI Emerging Markets Index – Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI Emerging Markets Index – Price Return do not include the reinvestment of dividends, if any.

 

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure equity market performance of emerging markets.

 

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/EJUL.

 

22

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Emerging Markets Power Buffer ETF - October from its inception (September 30, 2021) to October 31, 2023 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

emmkpowbuffoctchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - October

               

NAV Return

    7.24

%

    -5.96

%

Market Return

    7.29

%

    -5.79

%

MSCI Emerging Markets Index - Price Return

    7.90

%

    -13.99

%

MSCI Emerging Markets Index - Total Return

    10.80

%

    -11.69

%

 

(a) Inception date is September 30, 2021.

 

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 0.89%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

23

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and MSCI Emerging Markets Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI Emerging Markets Index - Price Return do not include the reinvestment of dividends, if any.

 

The MSCI Emerging Markets Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of emerging markets.

 

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/EOCT. 

 

24

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator International Developed Power Buffer ETF - January from its inception (December 31, 2019) to October 31, 2023 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

intdevpbjanchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - January

                       

NAV Return

    12.54

%

    4.42

%

    2.76

%

Market Return

    12.28

%

    4.66

%

    2.74

%

MSCI EAFE Index - Price Return

    11.31

%

    3.05

%

    -1.16

%

MSCI EAFE Index - Total Return

    14.40

%

    5.73

%

    1.39

%

 

(a) Inception date is December 31, 2019.

 

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 0.85%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

25

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2023 (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 and MSCI EAFE Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI EAFE Index - Price Return do not include the reinvestment of dividends, if any. 

 

The MSCI EAFE Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the United States and Canada.

 

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/IJAN. 

 

26

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator International Developed Power Buffer ETF - April from its inception (March 31, 2021) to October 31, 2023 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

intdevpbaplchart.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - April

               

NAV Return

    6.10

%

    -1.68

%

Market Return

    5.78

%

    -1.72

%

MSCI EAFE Index - Price Return

    11.31

%

    -4.74

%

MSCI EAFE Index - Total Return

    14.40

%

    -2.16

%

 

(a) Inception date is March 31, 2021.

 

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 0.85%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

27

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued) 

 

The line graph and performance table does 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 and MSCI EAFE Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI EAFE Index - Price Return do not include the reinvestment of dividends, if any. 

 

The MSCI EAFE Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the United States and Canada.

 

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/IAPR. 

 

28

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator International Developed Power Buffer ETF - July from its inception (June 28, 2019) to October 31, 2023 as compared with the MSCI EAFE Index – Price Return and Total Return.

 

intdevpbjulchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - July

                       

NAV Return

    13.47

%

    3.30

%

    2.18

%

Market Return

    13.50

%

    3.49

%

    2.18

%

MSCI EAFE Index - Price Return

    11.31

%

    3.05

%

    0.31

%

MSCI EAFE Index - Total Return

    14.40

%

    5.73

%

    2.82

%

 

(a) Inception date is June 28, 2019.

 

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 0.85%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

29

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2023 (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 and MSCI EAFE Index – Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI EAFE Index – Price Return do not include the reinvestment of dividends, if any.

 

The MSCI EAFE Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the United States and Canada.

 

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/IJUL.

 

30

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - SEPTEMBER

 

Fund Performance

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the International Developed Power Buffer ETF – September from its inception (August 31, 2023) to October 31, 2023 as compared with the MSCI EAFE Index – Price Return and Total Return.

 

intdevpbsepchart.jpg

 

   

Total Returns as of

October 31, 2023

 
   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - September

       

NAV Return

    -3.76

%

Market Return

    -3.74

%

MSCI EAFE Index - Price Return

    -7.64

%

MSCI EAFE Index - Total Return

    -7.33

%

 

(a) Inception date is August 31, 2023.

 

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 0.85%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

31

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - SEPTEMBER

 

Fund Performance

October 31, 2023 (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 and MSCI EAFE Index – Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI EAFE Index – Price Return do not include the reinvestment of dividends, if any.

 

The MSCI EAFE Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the United States and Canada.

 

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/ISEP.

 

32

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator International Developed Power Buffer ETF - October from its inception (September 30, 2021) to October 31, 2023 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

intdevpboctchart.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - October

               

NAV Return

    16.07

%

    1.52

%

Market Return

    15.57

%

    1.41

%

MSCI EAFE Index - Price Return

    11.31

%

    -7.30

%

MSCI EAFE Index - Total Return

    14.40

%

    -4.80

%

 

(a) Inception date is September 30, 2021.

 

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 0.85%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

33

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and MSCI EAFE Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the MSCI EAFE Index - Price Return do not include the reinvestment of dividends, if any. 

 

The MSCI EAFE Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of developed markets, excluding the United States and Canada.

 

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/IOCT. 

 

34

 

INNOVATOR 20+ YEAR TREASURY BOND 9 BUFFER ETF – JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator 20+ Year Treasury Bond 9 Buffer ETF - July from its inception (August 17, 2020) to October 31, 2023 as compared with the ICE U.S. Treasury 20+ Year Index - Total Return.

 

yrtrbd9julchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

                       

NAV Return

    -4.64

%

    -9.88

%

    -9.90

%

Market Return

    -4.41

%

    -9.98

%

    -9.96

%

ICE U.S. Treasury 20+ Year Index - Total Return

    -9.93

%

    -17.34

%

    -17.15

%

 

(a) Inception date is August 17, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

35

 

INNOVATOR 20+ YEAR TREASURY BOND 9 BUFFER ETF – JULY

 

Fund Performance 

October 31, 2023 (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 and ICE U.S. Treasury 20+ Year Index - Total Return include the reinvestment of all dividends, if any.

 

The ICE U.S. Treasury 20+ Year Bond Index is market value weighted and is designed to include U.S. dollar denominated, fixed rate U.S. Treasury market securities with minimum term to maturity greater than or equal to twenty years.

 

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/TBJL.

 

36

 

INNOVATOR 20+ YEAR TREASURY BOND 5 FLOOR ETF – QUARTERLY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly from its inception (August 17, 2020) to October 31, 2023 as compared with the ICE U.S. Treasury 20+ Year Index - Total Return.

 

yrtrbd5qtrchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly

                       

NAV Return

    -6.01

%

    -8.59

%

    -8.58

%

Market Return

    -5.32

%

    -8.52

%

    -8.48

%

ICE U.S. Treasury 20+ Year Index - Total Return

    -9.93

%

    -17.34

%

    -17.15

%

 

(a) Inception date is August 17, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

37

 

INNOVATOR 20+ YEAR TREASURY BOND 5 FLOOR ETF – QUARTERLY

 

Fund Performance 

October 31, 2023 (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 and ICE U.S. Treasury 20+ Year Index - Total Return include the reinvestment of all dividends, if any.

 

The ICE U.S. Treasury 20+ Year Bond Index is market value weighted and is designed to include U.S. dollar denominated, fixed rate U.S. Treasury market securities with minimum term to maturity greater than or equal to twenty years.

 

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/TFJL.

 

38

 

INNOVATOR DEFINED WEALTH SHIELD ETF

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Defined Wealth Shield ETF from its inception (June 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

defwlthshield.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Defined Wealth Shield ETF

               

NAV Return

    6.17

%

    3.41

%

Market Return

    6.23

%

    3.40

%

S&P 500® Index - Price Return

    8.31

%

    -1.04

%

S&P 500® Index - Total Return

    10.14

%

    0.52

%

 

(a) Inception date is June 30, 2021.

 

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 0.69%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

39

 

INNOVATOR DEFINED WEALTH SHIELD ETF

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/BALT. 

 

40

 

INNOVATOR DOUBLE STACKER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Double Stacker ETF - January from its inception (December 31, 2020) to October 31, 2023 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return.

 

dblstckjanchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker ETF - January

               

NAV Return

    17.88

%

    4.20

%

Market Return

    17.86

%

    4.19

%

NASDAQ-100 Index - Price Return

    26.34

%

    4.02

%

S&P 500® Index - Price Return

    8.31

%

    3.97

%

S&P 500® Index - Total Return

    10.14

%

    5.59

%

 

(a) Inception date is December 31, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

41

 

INNOVATOR DOUBLE STACKER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return do not include the reinvestment of 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 NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/DSJA. 

 

42

 

INNOVATOR TRIPLE STACKER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Triple Stacker ETF - January from its inception (December 31, 2020) to October 31, 2023 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return, NASDAQ-100 Index - Price Return and Russell 2000 Index - Price Return.

 

tristckjanchart.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Triple Stacker ETF - January

               

NAV Return

    11.60

%

    1.80

%

Market Return

    11.50

%

    1.79

%

NASDAQ-100 Index - Price Return

    26.34

%

    4.02

%

Russell 2000 Index - Price Return

    -9.99

%

    -5.90

%

S&P 500® Index - Price Return

    8.31

%

    3.97

%

S&P 500® Index - Total Return

    10.14

%

    5.59

%

 

(a) Inception date is December 31, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

43

 

INNOVATOR TRIPLE STACKER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return, NASDAQ 100 Index - Price Return and Russell 2000 Index - Price Return do not include the reinvestment of 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 NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

The Russell 2000 Index is a float-adjusted capitalization-weighted index of equity securities issued by the approximately 2,000 smallest issuers in the Russell 3000 Index. The Russell 2000 Price Index measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell. The Russell 2000 Price Index is a subset of the Russell 3000 Index, which measures the performance of the broad U.S. equity market, as defined by FTSE Russell.

 

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/TSJA. 

 

44

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Double Stacker 9 Buffer ETF - January from its inception (December 31, 2020) to October 31, 2023 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return.

 

dblstck9buffjan.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker 9 Buffer ETF - January

               

NAV Return

    13.83

%

    4.36

%

Market Return

    13.74

%

    4.28

%

NASDAQ-100 Index - Price Return

    26.34

%

    4.02

%

S&P 500® Index - Price Return

    8.31

%

    3.97

%

S&P 500® Index - Total Return

    10.14

%

    5.59

%

 

(a) Inception date is December 31, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

45

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return and NASDAQ 100 Index - Price Return do not include the reinvestment of 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 NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/DBJA. 

 

46

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth-100 Power Buffer ETF - January from its inception (December 31, 2019) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gr100powbuffjan.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator Growth-100 Power Buffer ETF - January

                       

NAV Return

    14.79

%

    2.96

%

    4.17

%

Market Return

    14.83

%

    3.00

%

    4.15

%

NASDAQ-100 Index - Price Return

    26.34

%

    9.24

%

    13.95

%

NASDAQ-100 Index - Total Return

    27.45

%

    10.12

%

    14.88

%

 

(a) Inception date is December 31, 2019.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

47

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any. 

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/NJAN. 

 

48

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth-100 Power Buffer ETF - April from its inception (March 31, 2020) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gr100powbuffapl.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator Growth-100 Power Buffer ETF - April

                       

NAV Return

    20.33

%

    6.10

%

    8.37

%

Market Return

    20.81

%

    6.12

%

    8.34

%

NASDAQ-100 Index - Price Return

    26.34

%

    9.24

%

    18.61

%

NASDAQ-100 Index - Total Return

    27.45

%

    10.12

%

    19.56

%

 

(a) Inception date is March 31, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

49

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – APRIL

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any. 

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/NAPR. 

 

50

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth-100 Power Buffer ETF - July from its inception (June 30, 2020) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gr100powbuffjul.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator Growth-100 Power Buffer ETF - July

                       

NAV Return

    16.77

%

    5.98

%

    6.58

%

Market Return

    16.87

%

    6.23

%

    6.66

%

NASDAQ-100 Index - Price Return

    26.34

%

    9.24

%

    11.05

%

NASDAQ-100 Index - Total Return

    27.45

%

    10.12

%

    11.92

%

 

(a) Inception date is June 30, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

51

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – JULY

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/NJUL.

 

52

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth-100 Power Buffer ETF - October from its inception (September 30, 2019) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gr100powbuffoct.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator Growth-100 Power Buffer ETF - October

                       

NAV Return

    19.41

%

    7.91

%

    8.07

%

Market Return

    19.30

%

    8.18

%

    8.13

%

NASDAQ-100 Index - Price Return

    26.34

%

    9.24

%

    16.40

%

NASDAQ-100 Index - Total Return

    27.45

%

    10.12

%

    17.36

%

 

(a) Inception date is September 30, 2019.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

53

 

INNOVATOR GROWTH-100 POWER BUFFER ETF – OCTOBER

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any. 

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/NOCT. 

 

54

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Small Cap Power Buffer ETF - January from its inception (December 31, 2019) to October 31, 2023 as compared with the Russell 2000 Index - Price Return and Total Return.

 

ussmcappbjan.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator U.S. Small Cap Power Buffer ETF - January

                       

NAV Return

    -2.28

%

    4.17

%

    2.72

%

Market Return

    -2.40

%

    4.22

%

    2.69

%

Russell 2000 Index - Price Return

    -9.99

%

    2.61

%

    -0.10

%

Russell 2000 Index - Total Return

    -8.56

%

    3.95

%

    1.21

%

 

(a) Inception date is December 31, 2019.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

55

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – JANUARY

 

Fund Performance 

October 31, 2023 (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 and Russell 2000 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the Russell 2000 Index - Price Return do not include the reinvestment of dividends, if any. 

 

The Russell 2000 Index is a float-adjusted capitalization-weighted index of equity securities issued by the approximately 2,000 smallest issuers in the Russell 3000 Index. The Russell 2000 Price Index measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell. The Russell 2000 Price Index is a subset of the Russell 3000 Index, which measures the performance of the broad U.S. equity market, as defined by FTSE Russell.

 

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/KJAN. 

 

56

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – APRIL

 

Fund Performance 

October 31, 2023 (Unaudited)  

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Small Cap Power Buffer ETF - April from its inception (March 31, 2020) to October 31, 2023 as compared with the Russell 2000 Index - Price Return and Total Return.

 

ussmcappbapl.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator U.S. Small Cap Power Buffer ETF - April

                       

NAV Return

    0.93

%

    -0.31

%

    3.14

%

Market Return

    0.85

%

    -0.32

%

    3.14

%

Russell 2000 Index - Price Return

    -9.99

%

    2.61

%

    10.74

%

Russell 2000 Index - Total Return

    -8.56

%

    3.95

%

    12.16

%

 

(a) Inception date is March 31, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

57

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – APRIL

 

Fund Performance 

October 31, 2023 (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 and Russell 2000 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the Russell 2000 Index - Price Return do not include the reinvestment of dividends, if any. 

 

The Russell 2000 Index is a float-adjusted capitalization-weighted index of equity securities issued by the approximately 2,000 smallest issuers in the Russell 3000 Index. The Russell 2000 Price Index measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell. The Russell 2000 Price Index is a subset of the Russell 3000 Index, which measures the performance of the broad U.S. equity market, as defined by FTSE Russell.

 

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/KAPR. 

 

58

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Small Cap Power Buffer ETF - July from its inception (June 30, 2020) to October 31, 2023 as compared with the Russell 2000 Index - Price Return and Total Return.

 

ussmcappbjul.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator U.S. Small Cap Power Buffer ETF - July

                       

NAV Return

    -1.45

%

    0.29

%

    1.35

%

Market Return

    -1.47

%

    0.20

%

    1.30

%

Russell 2000 Index - Price Return

    -9.99

%

    2.61

%

    4.37

%

Russell 2000 Index - Total Return

    -8.56

%

    3.95

%

    5.70

%

 

(a) Inception date is June 30, 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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

59

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – JULY

 

Fund Performance 

October 31, 2023 (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 and Russell 2000 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the Russell 2000 Index - Price Return do not include the reinvestment of dividends, if any.

 

The Russell 2000 Index is a float-adjusted capitalization-weighted index of equity securities issued by the approximately 2,000 smallest issuers in the Russell 3000 Index. The Russell 2000 Price Index measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell. The Russell 2000 Price Index is a subset of the Russell 3000 Index, which measures the performance of the broad U.S. equity market, as defined by FTSE Russell.

 

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/KJUL.

 

60

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Small Cap Power Buffer ETF - October from its inception (September 30, 2019) to October 31, 2023 as compared with the Russell 2000 Index - Price Return and Total Return.

 

ussmcappboct.jpg

 

   

Average Annual Total Returns as of October 31, 2023

 
   

One Year

   

Three Years

   

Since Inception (a)

 

Innovator U.S. Small Cap Power Buffer ETF - October

                       

NAV Return

    -2.77

%

    0.80

%

    0.48

%

Market Return

    -2.74

%

    0.79

%

    0.52

%

Russell 2000 Index - Price Return

    -9.99

%

    2.61

%

    2.16

%

Russell 2000 Index - Total Return

    -8.56

%

    3.95

%

    3.51

%

 

(a) Inception date is September 30, 2019.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

61

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF – OCTOBER

 

Fund Performance 

October 31, 2023 (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 and Russell 2000 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the Russell 2000 Index - Price Return do not include the reinvestment of dividends, if any. 

 

The Russell 2000 Index is a float-adjusted capitalization-weighted index of equity securities issued by the approximately 2,000 smallest issuers in the Russell 3000 Index. The Russell 2000 Price Index measures the performance of the small-capitalization sector of the U.S. equity market, as defined by FTSE Russell. The Russell 2000 Price Index is a subset of the Russell 3000 Index, which measures the performance of the broad U.S. equity market, as defined by FTSE Russell.

 

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/KOCT. 

 

62

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - January from its inception (December 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacjan.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - January

               

NAV Return

    14.97

%

    -4.20

%

Market Return

    14.98

%

    -4.23

%

S&P 500® Index - Price Return

    8.31

%

    -6.74

%

S&P 500® Index - Total Return

    10.14

%

    -5.22

%

 

(a) Inception date is December 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

63

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XDJA.

 

64

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - April from its inception (March 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacapl.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - April

               

NAV Return

    11.01

%

    3.59

%

Market Return

    11.03

%

    3.56

%

S&P 500® Index - Price Return

    8.31

%

    2.11

%

S&P 500® Index - Total Return

    10.14

%

    3.71

%

 

(a) Inception date is March 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

65

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - APRIL

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XDAP. 

 

66

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - July from its inception (June 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacjul.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - July

               

NAV Return

    14.65

%

    1.40

%

Market Return

    14.68

%

    1.38

%

S&P 500® Index - Price Return

    8.31

%

    -1.04

%

S&P 500® Index - Total Return

    10.14

%

    0.52

%

 

(a) Inception date is June 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

67

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JULY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XDJL. 

 

68

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - October from its inception (September 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacoct.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - October

               

NAV Return

    17.76

%

    1.25

%

Market Return

    17.52

%

    1.26

%

S&P 500® Index - Price Return

    8.31

%

    -1.28

%

S&P 500® Index - Total Return

    10.14

%

    0.31

%

 

(a) Inception date is September 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

69

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XDOC. 

 

70

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated Plus ETF - January from its inception (December 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacplusjan.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - January

               

NAV Return

    15.75

%

    -3.84

%

Market Return

    15.84

%

    -3.81

%

S&P 500® Index - Price Return

    8.31

%

    -6.74

%

S&P 500® Index - Total Return

    10.14

%

    -5.22

%

 

(a) Inception date is December 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

71

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XTJA.

 

72

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated Plus ETF - April from its inception (March 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacplusapl.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - April

               

NAV Return

    11.44

%

    3.52

%

Market Return

    11.41

%

    3.52

%

S&P 500® Index - Price Return

    8.31

%

    2.11

%

S&P 500® Index - Total Return

    10.14

%

    3.71

%

 

(a) Inception date is March 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

73

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XTAP. 

 

74

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated Plus ETF - July from its inception (June 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacplusjul.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - July

               

NAV Return

    13.38

%

    0.84

%

Market Return

    13.47

%

    0.89

%

S&P 500® Index - Price Return

    8.31

%

    -1.04

%

S&P 500® Index - Total Return

    10.14

%

    0.52

%

 

(a) Inception date is June 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

75

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XTJL. 

 

76

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - OCTTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated Plus ETF - October from its inception (September 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacplusoct.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - October

               

NAV Return

    16.31

%

    0.37

%

Market Return

    16.16

%

    0.42

%

S&P 500® Index - Price Return

    8.31

%

    -1.28

%

S&P 500® Index - Total Return

    10.14

%

    0.31

%

 

(a) Inception date is September 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

77

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - OCTTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XTOC. 

 

78

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated 9 Buffer ETF - January from its inception (December 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacc9buffjan.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated 9 Buffer ETF - January

               

NAV Return

    12.24

%

    -0.02

%

Market Return

    12.37

%

    -0.03

%

S&P 500® Index - Price Return

    8.31

%

    -6.74

%

S&P 500® Index - Total Return

    10.14

%

    -5.22

%

 

(a) Inception date is December 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

79

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XBJA.

 

80

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated 9 Buffer ETF - April from its inception (March 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacc9buffapl.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated 9 Buffer ETF - April

               

NAV Return

    13.33

%

    4.84

%

Market Return

    13.49

%

    4.81

%

S&P 500® Index - Price Return

    8.31

%

    2.11

%

S&P 500® Index - Total Return

    10.14

%

    3.71

%

 

(a) Inception date is March 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

81

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XBAP. 

 

82

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated 9 Buffer ETF - July from its inception (June 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacc9buffjul.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated 9 Buffer ETF - July

               

NAV Return

    11.14

%

    3.93

%

Market Return

    10.96

%

    3.93

%

S&P 500® Index - Price Return

    8.31

%

    -1.04

%

S&P 500® Index - Total Return

    10.14

%

    0.52

%

 

(a) Inception date is June 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

83

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - JULY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XBJL. 

 

84

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated 9 Buffer ETF - October from its inception (September 30, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqacc9buffoct.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated 9 Buffer ETF - October

               

NAV Return

    13.62

%

    3.70

%

Market Return

    13.59

%

    3.83

%

S&P 500® Index - Price Return

    8.31

%

    -1.28

%

S&P 500® Index - Total Return

    10.14

%

    0.31

%

 

(a) Inception date is September 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

85

 

INNOVATOR U.S. EQUITY ACCELERATED 9 BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XBOC. 

 

86

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated Plus ETF - January from its inception (December 31, 2021) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

groaccplusjan.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - January

               

NAV Return

    18.70

%

    -10.21

%

Market Return

    18.63

%

    -10.30

%

NASDAQ-100 Index - Price Return

    26.34

%

    -6.57

%

NASDAQ-100 Index - Total Return

    27.45

%

    -5.78

%

 

(a) Inception date is December 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

87

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications,

retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/QTJA.

 

88

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated Plus ETF - April from its inception (March 31, 2021) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

groaccplusapl.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - April

               

NAV Return

    27.32

%

    6.17

%

Market Return

    27.06

%

    6.07

%

NASDAQ-100 Index - Price Return

    26.34

%

    3.78

%

NASDAQ-100 Index - Total Return

    27.45

%

    4.61

%

 

(a) Inception date is March 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

89

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/QTAP. 

 

90

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated Plus ETF - July from its inception (June 30, 2021) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

groaccplusjul.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - July

               

NAV Return

    21.75

%

    -2.01

%

Market Return

    21.54

%

    -2.02

%

NASDAQ-100 Index - Price Return

    26.34

%

    -0.43

%

NASDAQ-100 Index - Total Return

    27.45

%

    0.37

%

 

(a) Inception date is June 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

91

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/QTJL. 

 

92

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated Plus ETF - October from its inception (September 30, 2021) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

groaccplusoct.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - October

               

NAV Return

    23.04

%

    -3.07

%

Market Return

    23.00

%

    -3.05

%

NASDAQ-100 Index - Price Return

    26.34

%

    -0.92

%

NASDAQ-100 Index - Total Return

    27.45

%

    -0.10

%

 

(a) Inception date is September 30, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

93

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

October 31, 2023 (Unaudited) (Continued)

 

The line graph and performance table does 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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications,

retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/QTOC. 

 

94

 

INNOVATOR U.S. EQUITY ACCELERATED ETF – QUARTERLY

 

Fund Performance 

October 31, 2023 (Unaudited)

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - Quarterly from its inception (March 31, 2021) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

useqaccquar.jpg

 

   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - Quarterly

               

NAV Return

    18.40

%

    2.57

%

Market Return

    18.35

%

    2.58

%

S&P 500® Index - Price Return

    8.31

%

    2.11

%

S&P 500® Index - Total Return

    10.14

%

    3.71

%

 

(a) Inception date is March 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

95

 

INNOVATOR U.S. EQUITY ACCELERATED ETF – QUARTERLY

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return do not include the reinvestment of 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 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/XDSQ. 

 

96

 

INNOVATOR GROWTH ACCELERATED ETF – QUARTERLY

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated ETF - Quarterly from its inception (March 31, 2021) to October 31, 2023 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

grwaccquar.jpg
 
   

Average Annual Total Returns as of

October 31, 2023

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated ETF - Quarterly

               

NAV Return

    12.39

%

    -2.54

%

Market Return

    12.44

%

    -2.55

%

NASDAQ-100 Index - Price Return

    26.34

%

    3.78

%

NASDAQ-100 Index - Total Return

    27.45

%

    4.61

%

 

(a) Inception date is March 31, 2021.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

97

 

INNOVATOR GROWTH ACCELERATED ETF – QUARTERLY

 

Fund Performance 

October 31, 2023 (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 and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on the Nasdaq Stock Market based on market capitalization. The NASDAQ-100 Price Index reflects companies across major industry groups including computer hardware and software, telecommunications, retail/wholesale trade and biotechnologies. It does not contain securities of financial companies including investment companies.

 

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/XDQQ. 

 

98

 

INNOVATOR EQUITY DEFINED PROTECTION ETF – 2 YR TO JULY 2025

 

Fund Performance 

October 31, 2023 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Equity Defined Protection ETF - 2 Yr to July 2025 from its inception (July 17, 2023) to October 31, 2023 as compared with the S&P 500® Index - Price Return and Total Return.

 

eqdefpro2yrtjul25.jpg

 

   

Total Returns as of

October 31, 2023

 
   

Since

Inception (a)

 

Innovator Equity Defined Protection ETF - 2 Yr to July 2025

       

NAV Return

    -2.37

%

Market Return

    -2.41

%

S&P 500® Index - Price Return

    -7.27

%

S&P 500® Index - Total Return

    -6.88

%

 

(a) Inception date is July 17, 2023.

 

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 0.79%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

99

 

INNOVATOR EQUITY DEFINED PROTECTION ETF – 2 YR TO JULY 2025

 

Fund Performance 

October 31, 2023 (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 and S&P 500® Index – Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index – Price Return do not include the reinvestment of 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 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/TJUL.

 

100

 

INNOVATOR ETFs TRUST

 

Expense Example

For the Period Ended October 31, 2023 (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 respective period and held for the entire respective period from May 1, 2023 to October 31, 2023 for each Fund.

 

Actual Expenses

 

The following table provides information about actual account values and actual expenses. You may use the information in this table, 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.

 

                   

Expenses

   
   

Beginning

   

Ending

   

Paid

   
   

Account

Value

   

Account

Value

   

During the

Period

   

Innovator Emerging Markets Power Buffer ETF - January (NAV)

  $ 1,000.00     $ 959.50     $ 4.40  

(a)

Innovator Emerging Markets Power Buffer ETF - April (NAV)

    1,000.00       976.00       4.43  

(a)

Innovator Emerging Markets Power Buffer ETF - July (NAV)

    1,000.00       957.20       4.39  

(a)

Innovator Emerging Markets Power Buffer ETF - October (NAV)

    1,000.00       949.90       4.37  

(a)

Innovator International Developed Power Buffer ETF - January (NAV)

    1,000.00       936.40       4.15  

(a)

Innovator International Developed Power Buffer ETF - April (NAV)

    1,000.00       961.20       4.20  

(a)

Innovator International Developed Power Buffer ETF - July (NAV)

    1,000.00       961.80       4.20  

(a)

Innovator International Developed Power Buffer ETF - September (NAV)

    1,000.00       962.40       1.39  

(b)

Innovator International Developed Power Buffer ETF - October (NAV)

    1,000.00       1,003.90       4.29  

(a)

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July (NAV)

    1,000.00       864.00       3.71  

(a)

Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (NAV)

    1,000.00       884.50       3.75  

(a)

Innovator Defined Wealth Shield ETF (NAV)

    1,000.00       1,014.20       3.50  

(a)

Innovator Double Stacker ETF - January (NAV)

    1,000.00       1,062.60       4.11  

(a)

Innovator Triple Stacker ETF - January (NAV)

    1,000.00       1,029.30       4.04  

(a)

Innovator Double Stacker 9 Buffer ETF - January (NAV)

    1,000.00       1,052.80       4.09  

(a)

Innovator Growth-100 Power Buffer ETF - January (NAV)

    1,000.00       1,065.70       4.11  

(a)

Innovator Growth-100 Power Buffer ETF - April (NAV)

    1,000.00       1,066.00       4.11  

(a)

Innovator Growth-100 Power Buffer ETF - July (NAV)

    1,000.00       1,034.20       4.05  

(a)

Innovator Growth-100 Power Buffer ETF - October (NAV)

    1,000.00       1,061.50       4.10  

(a)

Innovator U.S. Small Cap Power Buffer ETF - January (NAV)

    1,000.00       969.60       3.92  

(a)

Innovator U.S. Small Cap Power Buffer ETF - April (NAV)

    1,000.00       977.10       3.94  

(a)

Innovator U.S. Small Cap Power Buffer ETF - July (NAV)

    1,000.00       990.50       3.96  

(a)

Innovator U.S. Small Cap Power Buffer ETF - October (NAV)

    1,000.00       958.20       3.90  

(a)

Innovator U.S. Equity Accelerated ETF - January (NAV)

    1,000.00       1,046.00       4.07  

(a)

Innovator U.S. Equity Accelerated ETF - April (NAV)

    1,000.00       1,028.00       4.04  

(a)

Innovator U.S. Equity Accelerated ETF - July (NAV)

    1,000.00       1,005.90       3.99  

(a)

Innovator U.S. Equity Accelerated ETF - October (NAV)

    1,000.00       1,050.60       4.08  

(a)

Innovator U.S. Equity Accelerated Plus ETF - January (NAV)

    1,000.00       1,057.30       4.10  

(a)

Innovator U.S. Equity Accelerated Plus ETF - April (NAV)

    1,000.00       1,035.30       4.05  

(a)

Innovator U.S. Equity Accelerated Plus ETF - July (NAV)

    1,000.00       992.70       3.97  

(a)

Innovator U.S. Equity Accelerated Plus ETF - October (NAV)

    1,000.00       1,042.40       4.07  

(a)

Innovator U.S. Equity Accelerated 9 Buffer ETF - January (NAV)

    1,000.00       1,044.60       4.07  

(a)

Innovator U.S. Equity Accelerated 9 Buffer ETF - April (NAV)

    1,000.00       1,031.30       4.04  

(a)

Innovator U.S. Equity Accelerated 9 Buffer ETF - July (NAV)

    1,000.00       992.70       3.97  

(a)

Innovator U.S. Equity Accelerated 9 Buffer ETF - October (NAV)

    1,000.00       1,040.20       4.06  

(a)

 

101

 

INNOVATOR ETFs TRUST

 

Expense Example

For the Period Ended October 31, 2023 (Unaudited) (Continued)

 

                   

Expenses

   
   

Beginning

   

Ending

   

Paid

   
   

Account Value

   

Account Value

   

During the Period

   

Innovator Growth Accelerated Plus ETF - January (NAV)

    1,000.00       1,076.50       4.13  

(a)

Innovator Growth Accelerated Plus ETF - April (NAV)

    1,000.00       1,093.40       4.17  

(a)

Innovator Growth Accelerated Plus ETF - July (NAV)

    1,000.00       1,008.30       4.00  

(a)

Innovator Growth Accelerated Plus ETF - October (NAV)

    1,000.00       1,052.40       4.09  

(a)

Innovator U.S. Equity Accelerated ETF - Quarterly (NAV)

    1,000.00       995.40       3.97  

(a)

Innovator Growth Accelerated ETF - Quarterly (NAV)

    1,000.00       1,032.90       4.05  

(a)

Innovator Equity Defined Protection ETF - 2 Yr to July 2025 (NAV)

    1,000.00       976.30       2.27  

(c)

 

(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).

(b)

Expenses are equal to the Fund’s annualized expense ratio (0.85%), multiplied by the average account value over the period, multiplied by 61/365 (to reflect the six month period).

(c)

Expenses are equal to the Fund’s annualized expense ratio (0.79%), multiplied by the average account value over the period, multiplied by 106/365 (to reflect the period since the Fund's inception).

 

Hypothetical Example for Comparison Purposes

 

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 with respect to the Funds. Therefore, the table below is useful in comparing the ongoing 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.

 

102

 

INNOVATOR ETFs TRUST

 

Expense Example

For the Period Ended October 31, 2023 (Unaudited) (Continued)

 

                   

Expenses

   
   

Beginning

   

Ending

   

Paid

   
   

Account

Value

   

Account

Value

   

During the

Period

   

Innovator Emerging Markets Power Buffer ETF - January (NAV)

  $ 1,000.00     $ 1,020.72     $ 4.53  

(a)

Innovator Emerging Markets Power Buffer ETF - April (NAV)

    1,000.00       1,020.72       4.53  

(a)

Innovator Emerging Markets Power Buffer ETF - July (NAV)

    1,000.00       1,020.72       4.53  

(a)

Innovator Emerging Markets Power Buffer ETF - October (NAV)

    1,000.00       1,020.72       4.53  

(a)

Innovator International Developed Power Buffer ETF - January (NAV)

    1,000.00       1,020.92       4.33  

(a)

Innovator International Developed Power Buffer ETF - April (NAV)

    1,000.00       1,020.92       4.33  

(a)

Innovator International Developed Power Buffer ETF - July (NAV)

    1,000.00       1,020.92       4.33  

(a)

Innovator International Developed Power Buffer ETF - September (NAV)

    1,000.00       1,020.92       4.33  

(b)

Innovator International Developed Power Buffer ETF - October (NAV)

    1,000.00       1,020.72       4.33  

(a)

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July (NAV)

    1,000.00       1,021.22       4.02  

(a)

Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly (NAV)

    1,000.00       1,021.22       4.02  

(a)

Innovator Defined Wealth Shield ETF (NAV)

    1,000.00       1,021.73       3.52  

(a)

Innovator Double Stacker ETF - January (NAV)

    1,000.00       1,021.22       4.02  

(a)

Innovator Triple Stacker ETF - January (NAV)

    1,000.00       1,021.22       4.02  

(a)

Innovator Double Stacker 9 Buffer ETF - January (NAV)

    1,000.00       1,021.22       4.02  

(a)

Innovator Growth-100 Power Buffer ETF - January (NAV)

    1,000.00       1,021.22