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TABLE OF CONTENTS

 

Letter to Shareholders         

3

Fund Performance         

7

Expense Example         

85

Schedules of Investments and Options Written         

88

Statements of Assets and Liabilities         

166

Statements of Operations         

192

Statements of Changes in Net Assets         

218

Financial Highlights         

244

Notes to Financial Statements         

270

Report of Independent Registered Public Accounting Firm         

302

Trustees and Officers         

306

Board Considerations Regarding Approval of Investment Management Agreement         

308

Additional Information         

320

 

 

 

Letter to Shareholders (Unaudited)

 

Dear Valued Shareholders,

 

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

 

Around this time last year, we were acknowledging and reflecting on one of the more difficult years on record, with our eyes fixed on a more promising 2021. While we still look forward to the day the words “COVID-19” are a distant memory, I’m happy to report that, despite the uncertainty in the US and abroad, this year has been one of tremendous growth and leadership in the marketplace for Innovator.

 

The variant-laden pandemic environment the world has found itself in has brought several domestic challenges that have the potential to negatively impact wealth: labor shortages, supply chain struggles, inflation, high stock market valuations, volatility and rising interest rates, to name a few. Those seeking meaningful portfolio growth are now faced with increased risks, and those seeking to mitigate market risks and income (e.g., retirees) are struggling to find either in the bond markets.

 

From our perspective, these are the times Innovator was built for; and we think the market is recognizing this as well.

 

Broadly, 2021 witnessed the launch of 47 new outcome-based ETFs, pushing the category’s AUM higher by $3.5 billion. Today, the market for outcome based ETFs has grown to nearly 140 ETFs with nearly $9 billion in AUM. After bringing the world’s first Defined Outcome ETFsTM to market in 2018, I believe Innovator remains the leader in the space with 75 ETFs and nearly 60% of the total assets.

 

I’m also happy to report that once again Innovator Defined Outcome ETFsTM have performed as expected, mitigating volatile and falling markets and offering capped growth potential when markets were climbing higher. In fact, by the time 2021 comes to a close, Innovator anticipates that our fund suite will complete its 100th defined outcome period, more than any other ETF provider in the industry.

  

3

 

Letter to Shareholders (Unaudited) (Continued)

 

This year, in addition to rounding out its suite of international Buffer ETFsTM, Innovator also launched the first suite of Accelerated ETFsTM and the first Defined Outcome ETFsTM to offer quarterly outcome periods.

 

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

 

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

 

bond01.jpg

Bruce Bond

 

Chief Executive Officer

 

 

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

 

4

 

Letter to Shareholders (Unaudited) (Continued)

 

The funds only seek to provide their investment objective, which is not guaranteed, over the course of an entire outcome period. Investors who purchase shares after or sell shares before the end of an outcome period will experience very different outcomes than the funds seek to provide.

 

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.

 

The Funds are designed to provide point-to-point exposure to the price return of a reference asset via a basket of Flex Options. As a result, the ETFs are not expected to move directly in line with the reference asset during the interim period. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices.

 

Fund shareholders are subject to an upside return cap (Cap) that represents the maximum percentage return an investor can achieve from an investment in the funds' for the Outcome Period, before fees and expenses. If the Outcome Period has begun and the Fund has increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one Outcome Period to the next. The Cap, and the Fund's position relative to it, should be considered before investing in the Fund. The Funds' website, www.innovatoretfs.com, provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.

 

Buffer ETFs: The Funds only seek to provide shareholders that hold shares for the entire Outcome Period with their respective buffer level against reference asset losses during the Outcome Period. You will bear all reference asset losses exceeding the buffer. Depending upon market conditions at the time of purchase, a shareholder that purchases shares after the Outcome Period has begun may also lose their entire investment. For instance, if the Outcome Period has begun and the Fund has decreased in value beyond the pre-determined buffer, an investor purchasing shares at that price may not benefit from the buffer. Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing shares at that price may not benefit from the buffer until the Fund's value has decreased to its value at the commencement of the Outcome Period.

 

5

 

Letter to Shareholders (Unaudited) (Continued)

 

Accelerated ETFs: If the Outcome Period has begun and the Fund has experienced an accelerated return, an investor purchasing Shares at that price may be subject to losses that exceed any losses of the Underlying ETF for the remainder of the Outcome Period and may have diminished or no ability to experience further accelerated return, therefore exposing the investor to greater downside risks.

 

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

 

Innovator ETFs are distributed by Foreside Fund Services, LLC.

 

6

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

dochart01.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

Innovator International Developed Power Buffer ETF - January

               

NAV Return

    13.47

%

    5.65

%

Market Return

    14.65

%

    5.80

%

MSCI EAFE Index - Price Return

    31.20

%

    7.74

%

MSCI EAFE Index - Total Return

    34.18

%

    10.29

%

 

(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. 

 
7

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

8

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

dochart02.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - April

       

NAV Return

    3.88

%

Market Return

    4.32

%

MSCI EAFE Index - Price Return

    5.76

%

MSCI EAFE Index - Total Return

    7.28

%

 

(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. 

 

9

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2021 (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. 

 

10

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2021 (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, 2021 as compared with the MSCI EAFE Index – Price Return and Total Return.

 

dochart03.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since
Inception (a)

 

Innovator International Developed Power Buffer ETF - July

               

NAV Return

    8.58

%

    3.41

%

Market Return

    8.93

%

    3.31

%

MSCI EAFE Index - Price Return

    31.20

%

    8.67

%

MSCI EAFE Index - Total Return

    34.18

%

    11.14

%

 

(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 0.86%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

11

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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.

 

12

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - October

       

NAV Return

    1.72

%

Market Return

    1.77

%

MSCI EAFE Index - Price Return

    2.38

%

MSCI EAFE Index - Total Return

    2.46

%

 

(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. 

 

13

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

 

The 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. 

 

14

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

dochart04.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since
Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - January

               

NAV Return

    9.87

%

    6.24

%

Market Return

    10.21

%

    6.32

%

MSCI Emerging Markets Index - Price Return

    14.62

%

    7.12

%

MSCI Emerging Markets Index - Total Return

    16.96

%

    9.43

%

 

(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. 

 

15

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JANUARY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

16

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

dochart05.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - April

       

NAV Return

    -0.84

%

Market Return

    -0.81

%

MSCI Emerging Markets Index - Price Return

    -3.93

%

MSCI Emerging Markets Index - Total Return

    -2.50

%

 

(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. 

 

17

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - APRIL

 

Fund Performance 

October 31, 2021 (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. 

 

18

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2021 (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, 2021 as compared with the MSCI Emerging Markets Index – Price Return and Total Return.

 

dochart06.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since
Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - July

               

NAV Return

    0.68

%

    1.11

%

Market Return

    1.70

%

    1.33

%

MSCI Emerging Markets Index - Price Return

    14.62

%

    8.06

%

MSCI Emerging Markets Index - Total Return

    16.96

%

    10.50

%

 

(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 0.90%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

19

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JULY

 

Fund Performance

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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.

 

20

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - October

       

NAV Return

    0.98

%

Market Return

    1.09

%

MSCI Emerging Markets Index - Price Return

    0.93

%

MSCI Emerging Markets Index - Total Return

    0.99

%

 

(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. 

 

21

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The 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. 

 

22

 

INNOVATOR GROWTH-100 POWER BUFFER ETF JANUARY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart07.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

Innovator Growth-100 Power Buffer ETF - January

               

NAV Return

    12.36

%

    10.65

%

Market Return

    12.41

%

    10.56

%

NASDAQ-100 Index - Price Return

    43.40

%

    38.37

%

NASDAQ-100 Index - Total Return

    44.43

%

    39.45

%

 

(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. 

 

23

 

INNOVATOR GROWTH-100 POWER BUFFER ETF JANUARY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

24

 

INNOVATOR GROWTH-100 POWER BUFFER ETF APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart08.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

Innovator Growth-100 Power Buffer ETF - April

               

NAV Return

    9.87

%

    13.78

%

Market Return

    10.05

%

    13.79

%

NASDAQ-100 Index - Price Return

    43.40

%

    56.19

%

NASDAQ-100 Index - Total Return

    44.43

%

    57.35

%

 

(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. 

 

25

 

INNOVATOR GROWTH-100 POWER BUFFER ETF APRIL

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

26

 

INNOVATOR GROWTH-100 POWER BUFFER ETF JULY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart09.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since Inception (a)

 

Innovator Growth-100 Power Buffer ETF - July

               

NAV Return

    12.83

%

    12.64

%

Market Return

    13.52

%

    12.77

%

NASDAQ-100 Index - Price Return

    43.40

%

    39.50

%

NASDAQ-100 Index - Total Return

    44.43

%

    40.47

%

 

(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.

 

27

 

INNOVATOR GROWTH-100 POWER BUFFER ETF JULY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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.

 

28

 

INNOVATOR GROWTH-100 POWER BUFFER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart10.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

Innovator Growth-100 Power Buffer ETF - October

               

NAV Return

    19.51

%

    13.66

%

Market Return

    20.25

%

    13.70

%

NASDAQ-100 Index - Price Return

    43.40

%

    40.95

%

NASDAQ-100 Index - Total Return

    44.43

%

    42.10

%

 

(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 0.81%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

29

 

INNOVATOR GROWTH-100 POWER BUFFER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

30

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF JANUARY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the Russell 2000 Index - Price Return and Total Return.

 

dochart11.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

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

               

NAV Return

    21.31

%

    9.92

%

Market Return

    21.45

%

    9.82

%

Russell 2000 Index - Price Return

    49.32

%

    19.03

%

Russell 2000 Index - Total Return

    50.80

%

    20.39

%

 

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

 

31

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF JANUARY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   
           

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

32

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the Russell 2000 Index - Price Return and Total Return.

 

dochart12.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

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

               

NAV Return

    7.04

%

    12.61

%

Market Return

    7.05

%

    12.62

%

Russell 2000 Index - Price Return

    49.32

%

    54.42

%

Russell 2000 Index - Total Return

    50.80

%

    56.07

%

 

(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.

 

33

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF APRIL

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 
           

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

34

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF JULY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the Russell 2000 Index - Price Return and Total Return.

 

dochart13.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since Inception (a)

 

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

               

NAV Return

    11.64

%

    11.54

%

Market Return

    11.33

%

    11.42

%

Russell 2000 Index - Price Return

    49.32

%

    41.71

%

Russell 2000 Index - Total Return

    50.80

%

    43.16

%

 

(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.

 

35

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF JULY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued) 

 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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.

 

36

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the Russell 2000 Index - Price Return and Total Return.

 

dochart14.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since

Inception (a)

 

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

               

NAV Return

    14.79

%

    6.63

%

Market Return

    14.17

%

    6.45

%

Russell 2000 Index - Price Return

    49.32

%

    21.78

%

Russell 2000 Index - Total Return

    50.80

%

    23.22

%

 

(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. 

 

37

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   
           

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

38

 

INNOVATOR DOUBLE STACKER ETF JANUARY 

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Total Return.

 

dochart15.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Double Stacker ETF - January

       

NAV Return

    17.04

%

Market Return

    17.45

%

S&P 500® Index - Price Return

    22.61

%

S&P 500® Index - Total Return

    24.04

%

NASDAQ-100 Index - Total Return

    23.68

%

 

(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. 

 

39

 

INNOVATOR DOUBLE STACKER ETF JANUARY 

 

Fund Performance 

October 31, 2021 (Unaudited) 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P 500® Index - Total Return and NASDAQ-100 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 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. 

 

40

 

INNOVATOR DOUBLE STACKER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Double Stacker ETF - October from its inception (September 30, 2020) to October 31, 2021 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Total Return.

 

dochart16.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker ETF - October

               

NAV Return

    31.36

%

    25.67

%

Market Return

    31.51

%

    25.70

%

S&P 500® Index - Price Return

    40.84

%

    33.61

%

S&P 500® Index - Total Return

    42.91

%

    35.56

%

NASDAQ-100 Index - Total Return

    44.43

%

    36.24

%

 

(a) Inception date is September 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 0.80%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

41

 

INNOVATOR DOUBLE STACKER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

 

 

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, S&P 500® Index - Total Return and NASDAQ-100 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 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/DSOC.

 

42

 

INNOVATOR TRIPLE STACKER ETF JANUARY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return, NASDAQ-100 Index - Total Return and Russell 2000 Index - Total Return.

 

dochart17.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Triple Stacker ETF - January

       

NAV Return

    15.68

%

Market Return

    16.01

%

S&P 500® Index - Price Return

    22.61

%

S&P 500® Index - Total Return

    24.04

%

NASDAQ-100 Index - Total Return

    23.68

%

Russell 2000 Index - Total Return

    17.19

%

 

(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, 2021 (Unaudited) 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P 500® Index - Total Return, NASDAQ-100 Index - Total Return and Russell 2000 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 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 TRIPLE STACKER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

           

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Triple Stacker ETF - October from its inception (September 30, 2020) to October 31, 2021 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return, NASDAQ-100 Index - Total Return and Russell 2000 Index - Total Return.

 

dochart18.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since Inception (a)

 

Innovator Triple Stacker ETF - October

               

NAV Return

    27.25

%

    22.79

%

Market Return

    27.52

%

    22.99

%

S&P 500® Index - Price Return

    40.84

%

    33.61

%

S&P 500® Index - Total Return

    42.91

%

    35.56

%

NASDAQ-100 Index - Total Return

    44.43

%

    36.24

%

Russell 2000 Index - Total Return

    50.80

%

    48.85

%

 

(a) Inception date is September 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. 

 

45

 

INNOVATOR TRIPLE STACKER ETF OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued) 

 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P 500® Index - Total Return, NASDAQ-100 Index - Total Return and Russell 2000 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 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/TSOC.

 

46

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF JANUARY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Total Return.

 

dochart19.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Double Stacker 9 Buffer ETF - January

       

NAV Return

    10.50

%

Market Return

    10.90

%

S&P 500® Index - Price Return

    22.61

%

S&P 500® Index - Total Return

    24.04

%

NASDAQ-100 Index - Total Return

    23.68

%

 

(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. 

 

47

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF JANUARY

 

Fund Performance 

October 31, 2021 (Unaudited) 

           

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P 500® Index - Total Return and NASDAQ-100 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 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. 

 

48

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF OCTOBER 

 

Fund Performance 

October 31, 2021 (Unaudited) 

           

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Double Stacker 9 Buffer ETF - October from its inception (September 30, 2020) to October 31, 2021 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Total Return.

 

dochart20.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker 9 Buffer ETF - October

               

NAV Return

    19.14

%

    15.40

%

Market Return

    19.18

%

    15.67

%

S&P 500® Index - Price Return

    40.84

%

    33.61

%

S&P 500® Index - Total Return

    42.91

%

    35.56

%

NASDAQ-100 Index - Total Return

    44.43

%

    36.24

%

 

(a) Inception date is September 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. 

 

49

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF OCTOBER 

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued) 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund, S&P 500® Index - Total Return and NASDAQ-100 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 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/DBOC.

 

50

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart21.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - April

       

NAV Return

    11.86

%

Market Return

    11.97

%

S&P 500® Index - Price Return

    15.92

%

S&P 500® Index - Total Return

    16.83

%

 

(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. 

 

51

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - APRIL

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

52

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JULY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart22.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - July

       

NAV Return

    5.98

%

Market Return

    6.28

%

S&P 500® Index - Price Return

    7.16

%

S&P 500® Index - Total Return

    7.63

%

 

(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. 

 

53

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JULY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

54

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited)

 

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - October

       

NAV Return

    5.11

%

Market Return

    5.25

%

S&P 500® Index - Price Return

    6.91

%

S&P 500® Index - Total Return

    7.01

%

 

(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. 

 

55

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The 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. 

 

56

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart23.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - April

       

NAV Return

    11.11

%

Market Return

    11.51

%

S&P 500® Index - Price Return

    15.92

%

S&P 500® Index - Total Return

    16.83

%

 

(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. 

 

57

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

58

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart24.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - July

       

NAV Return

    5.56

%

Market Return

    5.82

%

S&P 500® Index - Price Return

    7.16

%

S&P 500® Index - Total Return

    7.63

%

 

(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. 

 

59

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

60

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

     

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - October

       

NAV Return

    5.20

%

Market Return

    5.17

%

S&P 500® Index - Price Return

    6.91

%

S&P 500® Index - Total Return

    7.01

%

 

(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. 

 

61

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The 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. 

 

62

 

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

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart25.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

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

       

NAV Return

    6.77

%

Market Return

    6.94

%

S&P 500® Index - Price Return

    15.92

%

S&P 500® Index - Total Return

    16.83

%

 

(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. 

 

63

 

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

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

64

 

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

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart26.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

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

       

NAV Return

    3.16

%

Market Return

    3.42

%

S&P 500® Index - Price Return

    7.16

%

S&P 500® Index - Total Return

    7.63

%

 

(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. 

 

65

 

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

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

66

 

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

 

Fund Performance 

October 31, 2021 (Unaudited) 

   

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

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

       

NAV Return

    3.03

%

Market Return

    3.35

%

S&P 500® Index - Price Return

    6.91

%

S&P 500® Index - Total Return

    7.01

%

 

(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. 

 

67

 

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

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The 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. 

 

68

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart27.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - April

       

NAV Return

    15.66

%

Market Return

    15.91

%

NASDAQ-100 Index - Price Return

    21.08

%

NASDAQ-100 Index - Total Return

    21.54

%

 

(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. 

 

69

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

70

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart28.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - July

       

NAV Return

    7.75

%

Market Return

    7.95

%

NASDAQ-100 Index - Price Return

    8.90

%

NASDAQ-100 Index - Total Return

    9.12

%

 

(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. 

 

71

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JULY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

72

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) 

   

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - October

       

NAV Return

    5.69

%

Market Return

    5.90

%

NASDAQ-100 Index - Price Return

    7.90

%

NASDAQ-100 Index - Total Return

    7.94

%

 

(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. 

 

73

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The 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. 

 

74

 

INNOVATOR 20+ YEAR TREASURY BOND 9 BUFFER ETF JULY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the ICE U.S. Treasury 20+ Year Index - Total Return.

 

dochart29.jpg

 

   

Average Annual Total Returns as of

October 31, 2021

 
   

One Year

   

Since Inception (a)

 

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

               

NAV Return

    0.55

%

    -1.37

%

Market Return

    0.06

%

    -1.65

%

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

    -5.50

%

    -7.07

%

 

(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.

 

75

 

INNOVATOR 20+ YEAR TREASURY BOND 9 BUFFER ETF JULY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued) 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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.

 

76

 

INNOVATOR 20+ YEAR TREASURY BOND 5 FLOOR ETF QUARTERLY

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the ICE U.S. Treasury 20+ Year Index - Total Return.

 

dochart30.jpg

 

   

Average Annual Total Returns as of October 31, 2021

 
   

One Year

   

Since Inception (a)

 

Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly

               

NAV Return

    -2.87

%

    -3.84

%

Market Return

    -2.76

%

    -3.66

%

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

    -5.50

%

    -7.07

%

 

(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 0.80%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

77

 

INNOVATOR 20+ YEAR TREASURY BOND 5 FLOOR ETF QUARTERLY

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued) 

 

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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.

 

78

 

INNOVATOR DEFINED WEALTH SHIELD ETF

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart31.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Defined Wealth Shield ETF

       

NAV Return

    0.65

%

Market Return

    0.68

%

S&P 500® Index - Price Return

    7.16

%

S&P 500® Index - Total Return

    7.63

%

 

(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. 

 

79

 

INNOVATOR DEFINED WEALTH SHIELD ETF

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

80

 

INNOVATOR U.S. EQUITY ACCELERATED ETF QUARTERLY  

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the S&P 500® Index - Price Return and Total Return.

 

dochart32.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - Quarterly

       

NAV Return

    11.37

%

Market Return

    11.57

%

S&P 500® Index - Price Return

    15.92

%

S&P 500® Index - Total Return

    16.83

%

 

(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 ETF QUARTERLY  

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

82

 

INNOVATOR GROWTH ACCELERATED ETF QUARTERLY  

 

Fund Performance 

October 31, 2021 (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, 2021 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

dochart33.jpg

 

   

Total Returns as of October 31, 2021

 
   

Since Inception (a)

 

Innovator Growth Accelerated ETF - Quarterly

       

NAV Return

    17.02

%

Market Return

    17.06

%

NASDAQ-100 Index - Price Return

    21.08

%

NASDAQ-100 Index - Total Return

    21.54

%

 

(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. 

 

83

 

INNOVATOR GROWTH ACCELERATED ETF QUARTERLY  

 

Fund Performance 

October 31, 2021 (Unaudited) (Continued)

   

 

The line graph and performance table do not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund 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. 

 

84

 

INNOVATOR ETFs TRUST

 

Expense Example

 

For the Period Ended October 31, 2021 (Unaudited)

 

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

 

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

 

   

Beginning

Account

Value

   

Ending

Account

Value

   

Expenses

Paid

During the

Period

     

Annualized

Expense

Ratio for

the Period

 

Innovator International Developed Power Buffer ETF - January (NAV)

  $ 1,000.00     $ 1,029.30     $ 4.35  

(a)

    0.85

%

Innovator International Developed Power Buffer ETF - April (NAV)

    1,000.00       1,026.30       4.34  

(a)

    0.85

%

Innovator International Developed Power Buffer ETF - July (NAV)

    1,000.00       1,007.60       4.30  

(a)

    0.85

%

Innovator International Developed Power Buffer ETF - October (NAV)

    1,000.00       1,017.20       0.73  

(b)

    0.85

%

Innovator Emerging Markets Power Buffer ETF - January (NAV)

    1,000.00       980.20       4.44  

(a)

    0.89

%

Innovator Emerging Markets Power Buffer ETF - April (NAV)

    1,000.00       986.00       4.46  

(a)

    0.89

%

Innovator Emerging Markets Power Buffer ETF - July (NAV)

    1,000.00       964.20       4.41  

(a)

    0.89

%

Innovator Emerging Markets Power Buffer ETF - October (NAV)

    1,000.00       1,009.80       0.76  

(b)

    0.89

%

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

    1,000.00       1,057.90       4.10  

(a)

    0.79

%

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

    1,000.00       1,049.70       4.08  

(a)

    0.79

%

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

    1,000.00       1,037.20       4.06  

(a)

    0.79

%

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

    1,000.00       1,061.00       4.10  

(a)

    0.79

%

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

    1,000.00       1,030.80       4.04  

(a)

    0.79

%

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

    1,000.00       1,021.70       4.03  

(a)

    0.79

%

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

    1,000.00       1,005.10       3.99  

(a)

    0.79

%

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

    1,000.00       1,034.70       4.05  

(a)

    0.79

%

Innovator Double Stacker ETF - January (NAV)

    1,000.00       1,075.30       4.13  

(a)

    0.79

%

Innovator Double Stacker ETF - October (NAV)

    1,000.00       1,089.20       4.16  

(a)

    0.79

%

Innovator Triple Stacker ETF - January (NAV)

    1,000.00       1,063.70       4.11  

(a)

    0.79

%

Innovator Triple Stacker ETF - October (NAV)

    1,000.00       1,068.40       4.12  

(a)

    0.79

%

Innovator Double Stacker 9 Buffer ETF - January (NAV)

    1,000.00       1,044.60       4.07  

(a)

    0.79

%

Innovator Double Stacker 9 Buffer ETF - October (NAV)

    1,000.00       1,049.80       4.08  

(a)

    0.79

%

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

    1,000.00       1,076.50       4.13  

(a)

    0.79

%

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

    1,000.00       1,059.80       2.74  

(c)

    0.79

%

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

    1,000.00       1,051.10       0.69  

(b)

    0.79

%

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

    1,000.00       1,070.30       4.12  

(a)

    0.79

%

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

    1,000.00       1,055.60       2.74  

(c)

    0.79

%

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

    1,000.00       1,052.00       0.69  

(b)

    0.79

%

 

85

 

INNOVATOR ETFs TRUST

 

Expense Example

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

 

   

Beginning

Account

Value

   

Ending

Account

Value

   

Expenses

Paid

During the

Period

     

Annualized

Expense

Ratio for

the Period

 

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

    1,000.00       1,045.70       4.07  

(a)

    0.79

%

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

    1,000.00       1,031.60       2.70  

(c)

    0.79

%

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

    1,000.00       1,030.30       0.68  

(b)

    0.79

%

Innovator Growth Accelerated Plus ETF - April (NAV)

    1,000.00       1,099.20       4.18  

(a)

    0.79

%

Innovator Growth Accelerated Plus ETF - July (NAV)

    1,000.00       1,077.50       2.77  

(c)

    0.79

%

Innovator Growth Accelerated Plus ETF - October (NAV)

    1,000.00       1,056.90       0.69  

(b)

    0.79

%

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

    1,000.00       1,061.30       4.10  

(a)

    0.79

%

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

    1,000.00       1,007.60       4.00  

(a)

    0.79

%

Innovator Defined Wealth Shield ETF (NAV)

    1,000.00       1,006.50       2.33  

(c)

    0.69

%

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

    1,000.00       1,074.90       4.13  

(a)

    0.79

%

Innovator Growth Accelerated ETF - Quarterly (NAV)

    1,000.00       1,116.50       4.21  

(a)

    0.79

%

 

(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, multiplied by the average account value over the period, multiplied by 31/365 (to reflect the period since the Fund's inception).

(c)         Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 123/365 (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.

 

86

 

INNOVATOR ETFs TRUST

 

Expense Example

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

 

   

Beginning

Account

Value

   

Ending

Account

Value

   

Expenses

Paid

During the

Period (a)

     

Annualized

Expense

Ratio for

the Period

 

Innovator International Developed Power Buffer ETF - January (NAV)

  $ 1,000.00     $ 1,020.92     $ 4.33         0.85

%

Innovator International Developed Power Buffer ETF - April (NAV)

    1,000.00       1,020.92       4.33         0.85

%

Innovator International Developed Power Buffer ETF - July (NAV)

    1,000.00       1,020.92       4.33         0.85

%

Innovator International Developed Power Buffer ETF - October (NAV)

    1,000.00       1,020.92       4.33  

(b)

    0.85

%

Innovator Emerging Markets Power Buffer ETF - January (NAV)

    1,000.00       1,020.72       4.53         0.89

%

Innovator Emerging Markets Power Buffer ETF - April (NAV)

    1,000.00       1,020.72       4.53         0.89

%

Innovator Emerging Markets Power Buffer ETF - July (NAV)

    1,000.00       1,020.72       4.53         0.89

%

Innovator Emerging Markets Power Buffer ETF - October (NAV)

    1,000.00       1,020.72       4.53  

(b)

    0.89

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

Innovator Double Stacker ETF - January (NAV)

    1,000.00       1,021.22       4.02         0.79

%

Innovator Double Stacker ETF - October (NAV)

    1,000.00       1,021.22       4.02         0.79

%

Innovator Triple Stacker ETF - January (NAV)

    1,000.00       1,021.22       4.02         0.79

%

Innovator Triple Stacker ETF - October (NAV)

    1,000.00       1,021.22       4.02         0.79

%

Innovator Double Stacker 9 Buffer ETF - January (NAV)

    1,000.00       1,021.22       4.02         0.79

%

Innovator Double Stacker 9 Buffer ETF - October (NAV)

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

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

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

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

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

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

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

Innovator Growth Accelerated Plus ETF - April (NAV)

    1,000.00       1,021.22       4.02         0.79

%

Innovator Growth Accelerated Plus ETF - July (NAV)

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

Innovator Growth Accelerated Plus ETF - October (NAV)

    1,000.00       1,021.22       4.02  

(b)

    0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

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

    1,000.00       1,021.22       4.02         0.79

%

Innovator Defined Wealth Shield ETF (NAV)

    1,000.00       1,021.73       3.52  

(b)

    0.69

%

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

    1,000.00       1,021.22       4.02         0.79

%

Innovator Growth Accelerated ETF - Quarterly (NAV)

    1,000.00       1,021.22       4.02         0.79

%

 

(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) 

For comparative purposes only as the Fund was not in operation for the full six month period. 

 

87

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

Schedule of Investments

October 31, 2021

 

   

Contracts

   

Notional

Amount

   

Value

 

PURCHASED OPTIONS - 103.03% (a)(b)

                       

CALL OPTIONS - 102.49%

                       

EFA iShares MSCI EAFE ETF, Expires 12/31/2021, Strike Price $0.58         

   

7,439

   

$

59,876,511

   

$

58,883,381

 
                     

58,883,381

 

PUT OPTIONS - 0.54%

                       

EFA iShares MSCI EAFE ETF, Expires 12/31/2021, Strike Price $72.96         

   

7,439

     

59,876,511

     

309,438

 
                     

309,438

 

TOTAL PURCHASED OPTIONS (Cost $57,338,251)         

                   

59,192,819

 
                         

SHORT TERM INVESTMENTS - 0.21%

 

Principal

Amount

                 

Money Market Deposit Account - 0.21%

                       

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

 

$

119,190

             

119,190

 

TOTAL SHORT TERM INVESTMENTS (Cost $119,190)         

                   

119,190

 
                         

Total Investments (Cost $57,457,441) - 103.24%         

                   

59,312,009

 

Liabilities in Excess of Other Assets - (3.24)%         

                   

(1,862,415

)

TOTAL NET ASSETS - 100.00%         

                 

$

57,449,594

 
                         

Asset Type

 

% of Net

Assets

                 

Purchased Options         

   

103.03

%

               

Short Term Investments         

   

0.21

                 

Total Investments         

   

103.24

                 

Liabilities in Excess of Other Assets         

   

(3.24

)

               

Net Assets         

   

100.00

%

               

 

Percentages are stated as a percent of net assets.

                 
           

 

(a) 

Exchange-Traded. 

(b)

Purchased option contracts are held in connection with corresponding option contracts written short.

(c)

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

 

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

 

88

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

Schedule of Options Written (a)

     

October 31, 2021 

     

 

Description

 

Expiration

   

Strike

Price

   

Contracts

   

Notional

Amount

   

Value

 

Call Options

                                       

EFA iShares MSCI EAFE ETF         

 

12/31/2021

   

$

79.40

     

7,439

   

$

(59,876,511

)

 

$

(1,688,236

)

                                     

(1,688,236

)

Put Options

                                       

EFA iShares MSCI EAFE ETF         

 

12/31/2021

     

62.02

     

7,439

     

(59,876,511

)

   

(120,008

)

                                     

(120,008

)

Total Options Written (Premiums Received $3,426,249)         

                           

$

(1,808,244

)

 

(a)  Exchange-Traded.

                     

 

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

 

89

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - APRIL

 

Schedule of Investments

       

October 31, 2021

       

 

   

Contracts

   

Notional

Amount

   

Value

 

PURCHASED OPTIONS - 102.38% (a)(b)<