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TABLE OF CONTENTS

 

Letter to Shareholders         

3

Fund Performance         

7

Expense Example         

93

Schedules of Investments and Options Written         

96

Statements of Assets and Liabilities         

182

Statements of Operations         

208

Statements of Changes in Net Assets         

234

Financial Highlights         

260

Notes to Financial Statements         

286

Trustees and Officers         

319

Board Considerations Regarding Approval of Investment Management Agreement         

321

Additional Information         

327

 

 

 

Letter to Shareholders (Unaudited)

 

 

Dear Valued Shareholders,

 

Thank you for your interest in Innovator ETFs.

 

The six-month period ended April 30, 2022 was marked by a number of confounding challenges. Just when much of the world was beginning to move beyond many of the constraints imposed from the Covid pandemic, a war broke out in Europe and inflation climbed to its highest level in 40 years. Central banks began to tighten monetary policy even as disruptions to global supply chains persisted.

 

In recent years, prior to the 2022 bond market selloff, historically-low bond yields meant that one of the few remaining portfolio benefits from a bond allocation was as a diversifier against a downturn in stocks. In 2022, however, we believe the traditional bond allocation that investors have relied on for decades has not lived up to the task. In the face of these economic challenges, not only did the stock market fall 10%, but the bond market also suffered a 9.5% loss, its worst six-month return since March 1980.1

 

At Innovator, we have been focused for several years on the challenges posed by bonds and the potential solution that Defined Outcome ETFs™ can provide - and the industry has been listening. During the six months ended April 30, 2022, Defined Outcome ETFs™ saw $3.3 billion in net flows, representing industry growth of 38%. Not surprisingly, ETFs with 15% and 30% buffers garnered the lion’s share of flows as investors sought out higher levels of risk management.

 

Among the 148 ETFs receiving Morningstar’s “Defined Outcome ETF” designation, Innovator remains the leader with a total of 79 ETFs and more than $6.2 billion in assets.

 

During this period, Innovator rounded out its industry-first suite of US Equity Accelerated ETFs®, which seek to offer 2x or 3x the upside of the SPDR S&P 500 ETF (SPY) to a cap, with 1-to-1 exposure on the downside over the outcome period.

 

I’m also pleased to be able to report that Innovator’s Buffer ETFs™ have performed as they were designed to, mitigating equity market drawdown and volatility during this period. On average, our 36 US Equity Buffer ETFs™ exhibited just 43% participation in the downside of the SPY and only 48% of its volatility.

 

3

 

 

Letter to Shareholders (Unaudited) (Continued)

 

 

Amidst these challenging market conditions, Innovator remains committed to providing products that enable investors to redefine the risk and reward of their market exposures. We intend to continue striving to earn your trust and look forward to working together to bring meaningful solutions to the ever-changing investment landscape.

 

On behalf of the team at Innovator, thank you for your confidence in us and in the products we offer. May the Lord grant all of us wisdom and peace in the months ahead.

 

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Bruce Bond

 

Chief Executive Officer

 

 

The views in this report were those of the Funds CEO as of April 30, 2022 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.

 

 

1.

Source: Bloomberg LP. Stock and bond market measured by the S&P 500 Index and Bloomberg US Aggregate Bond Index, respectively.

 

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 

April 30, 2022 (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 April 30, 2022 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

idpjan.jpg
 
   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator International Developed Power Buffer ETF - January

               

NAV Return

    -3.30

%

    1.66

%

Market Return

    -3.71

%

    1.73

%

MSCI EAFE Index - Price Return

    -10.35

%

    -0.07

%

MSCI EAFE Index - Total Return

    -8.15

%

    2.35

%

 

(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 investor’s 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 Fund’s website at innovatoretfs.com. 

 

7

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JANUARY

 

Fund Performance 

April 30, 2022 (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 atInnovatoretfs.com/IJAN. 

 

8

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - APRIL

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

idpapr.jpg
 
   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - April

               

NAV Return

    -5.92

%

    -4.42

%

Market Return

    -6.40

%

    -4.36

%

MSCI EAFE Index - Price Return

    -10.35

%

    -7.33

%

MSCI EAFE Index - Total Return

    -8.15

%

    -4.98

%

 

(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 

April 30, 2022 (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 atInnovatoretfs.com/IAPR. 

 

10

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JULY

 

Fund Performance

April 30, 2022 (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 April 30, 2022 as compared with the MSCI EAFE Index – Price Return and Total Return.

 

idpjul.jpg
 
   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator International Developed Power Buffer ETF - July

               

NAV Return

    -4.05

%

    1.05

%

Market Return

    -3.64

%

    1.02

%

MSCI EAFE Index - Price Return

    -10.35

%

    2.00

%

MSCI EAFE Index - Total Return

    -8.15

%

    4.38

%

 

(a) Inception date is June 28, 2019.

 

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.85%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

11

 

INNOVATOR INTERNATIONAL DEVELOPED POWER BUFFER ETF - JULY

 

Fund Performance

April 30, 2022 (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 

April 30, 2022 (Unaudited) 

 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator International Developed Power Buffer ETF - October from its inception (September 30, 2021) to April 30, 2022 as compared with the MSCI EAFE Index - Price Return and Total Return.

 

idpoct.jpg
 
   

Total Returns as

of April 30, 2022

 
   

Since Inception (a)

 

Innovator International Developed Power Buffer ETF - October

       

NAV Return

    -5.02

%

Market Return

    -4.87

%

MSCI EAFE Index - Price Return

    -10.85

%

MSCI EAFE Index - Total Return

    -9.63

%

 

(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 

April 30, 2022 (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 atInnovatoretfs.com/IOCT. 

 

14

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JANUARY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

empjan.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - January

               

NAV Return

    -9.63

%

    1.29

%

Market Return

    -9.82

%

    1.25

%

MSCI Emerging Markets Index - Price Return

    -20.14

%

    -1.50

%

MSCI Emerging Markets Index - Total Return

    -18.33

%

    0.55

%

 

(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 investor’s 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 Fund’s website at innovatoretfs.com. 

 

15

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JANUARY

 

Fund Performance 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

empapr.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - April

               

NAV Return

    -5.05

%

    -4.18

%

Market Return

    -5.97

%

    -4.55

%

MSCI Emerging Markets Index - Price Return

    -20.14

%

    -16.99

%

MSCI Emerging Markets Index - Total Return

    -18.33

%

    -15.16

%

 

(a) Inception date is March 31, 2021.

 

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.89%. For the most recent performance, please visit the Funds website at innovatoretfs.com. 

 

17

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - APRIL

 

Fund Performance 

April 30, 2022 (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 atInnovatoretfs.com/EAPR. 

 

18

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JULY

 

Fund Performance

April 30, 2022 (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 April 30, 2022 as compared with the MSCI Emerging Markets Index – Price Return and Total Return.

 

empjul.jpg

 

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - July

               

NAV Return

    -9.65

%

    -1.37

%

Market Return

    -9.49

%

    -1.39

%

MSCI Emerging Markets Index - Price Return

    -20.14

%

    0.71

%

MSCI Emerging Markets Index - Total Return

    -18.33

%

    2.90

%

 

(a) Inception date is June 28, 2019.

 

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. As of the latest prospectus, the net expense ratio of the Fund was 0.89%. For the most recent performance, please visit the Funds website at innovatoretfs.com.

 

19

 

INNOVATOR EMERGING MARKETS POWER BUFFER ETF - JULY

 

Fund Performance

April 30, 2022 (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 

April 30, 2022 (Unaudited) 

     

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Emerging Markets Power Buffer ETF - October from its inception (September 30, 2021) to April 30, 2022 as compared with the MSCI Emerging Markets Index - Price Return and Total Return.

 

empoct.jpg

 

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator Emerging Markets Power Buffer ETF - October

       

NAV Return

    -6.20

%

Market Return

    -6.50

%

MSCI Emerging Markets Index - Price Return

    -14.12

%

MSCI Emerging Markets Index - Total Return

    -13.30

%

 

(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 

April 30, 2022 (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 atInnovatoretfs.com/EOCT. 

 

22

 

INNOVATOR GROWTH-100 POWER BUFFER ETF JANUARY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gpjan.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator Growth-100 Power Buffer ETF - January

               

NAV Return

    -5.53

%

    3.16

%

Market Return

    -5.44

%

    3.15

%

NASDAQ-100 Index - Price Return

    -7.26

%

    18.04

%

NASDAQ-100 Index - Total Return

    -6.61

%

    18.94

%

 

(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 investor’s 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 Fund’s website at innovatoretfs.com. 

 

23

 

INNOVATOR GROWTH-100 POWER BUFFER ETF JANUARY

 

Fund Performance 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gpapr.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator Growth-100 Power Buffer ETF - April

               

NAV Return

    -1.12

%

    7.21

%

Market Return

    -1.00

%

    7.20

%

NASDAQ-100 Index - Price Return

    -7.26

%

    27.01

%

NASDAQ-100 Index - Total Return

    -6.61

%

    27.94

%

 

(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 investor’s 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 Fund’s website at innovatoretfs.com. 

 

25

 

INNOVATOR GROWTH-100 POWER BUFFER ETF APRIL

 

Fund Performance 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gpjul.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Growth-100 Power Buffer ETF - July

               

NAV Return

    -3.70

%

    4.74

%

Market Return

    -3.49

%

    4.78

%

NASDAQ-100 Index - Price Return

    -7.26

%

    13.71

%

NASDAQ-100 Index - Total Return

    -6.61

%

    14.51

%

 

(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 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gpoct.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

Innovator Growth-100 Power Buffer ETF - October

               

NAV Return

    -2.70

%

    7.23

%

Market Return

    -2.55

%

    7.20

%

NASDAQ-100 Index - Price Return

    -7.26

%

    21.64

%

NASDAQ-100 Index - Total Return

    -6.61

%

    22.61

%

 

(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 investor’s 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 Fund’s website at innovatoretfs.com. 

 

29

 

INNOVATOR GROWTH-100 POWER BUFFER ETF OCTOBER

 

Fund Performance 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the Russell 2000 Index - Price Return and Total Return.

 

scpjan.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

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

               

NAV Return

    -4.26

%

    4.37

%

Market Return

    -4.24

%

    4.29

%

Russell 2000 Index - Price Return

    -17.75

%

    4.87

%

Russell 2000 Index - Total Return

    -16.87

%

    6.08

%

 

(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 investor’s 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 Fund’s website at innovatoretfs.com. 

 

31

 

INNOVATOR U.S. SMALL CAP POWER BUFFER ETF JANUARY

 

Fund Performance 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the Russell 2000 Index - Price Return and Total Return.

 

scpapr.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

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

               

NAV Return

   

-7.14

%

   

4.56

%

Market Return

   

-7.23

%

   

4.53

%

Russell 2000 Index - Price Return         

   

-17.75

%

   

25.95

%

Russell 2000 Index - Total Return         

   

-16.87

%

   

27.33

%

 

(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 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the Russell 2000 Index - Price Return and Total Return.

 

scpjul.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

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

               

NAV Return

   

-7.19

%

   

3.68

%

Market Return

   

-7.18

%

   

3.50

%

Russell 2000 Index - Price Return         

   

-17.75

%

   

15.06

%

Russell 2000 Index - Total Return         

   

-16.87

%

   

16.29

%

 

(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 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the Russell 2000 Index - Price Return and Total Return.

 

scpoct.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since

Inception (a)

 

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

               

NAV Return

   

-6.34

%

   

1.33

%

Market Return

   

-6.26

%

   

1.27

%

Russell 2000 Index - Price Return         

   

-17.75

%

   

8.13

%

Russell 2000 Index - Total Return         

   

-16.87

%

   

9.41

%

 

(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 

April 30, 2022 (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 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return.

 

dsjan.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker ETF - January

               

NAV Return         

   

-6.61

%

   

1.24

%

Market Return         

   

-6.73

%

   

1.11

%

S&P 500® Index - Price Return         

   

-1.18

%

   

7.44

%

S&P 500® Index - Total Return         

   

0.21

%

   

8.96

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

-0.20

%

 

(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 

April 30, 2022 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any. 

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

40

 

INNOVATOR DOUBLE STACKER ETF OCTOBER

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return.

 

dsoct.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker ETF - October

               

NAV Return

   

-1.17

%

   

10.00

%

Market Return         

   

-1.48

%

   

9.86

%

S&P 500® Index - Price Return         

   

-1.18

%

   

13.91

%

S&P 500® Index - Total Return         

   

0.21

%

   

15.57

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

7.79

%

 

(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. 

 

41

 

INNOVATOR DOUBLE STACKER ETF OCTOBER

 

Fund Performance 

April 30, 2022 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

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

 

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

 

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

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

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

 

42

 

INNOVATOR TRIPLE STACKER ETF JANUARY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return, NASDAQ-100 Index - Price Return and Russell 2000 Index - Price Return.

 

tsjan.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Triple Stacker ETF - January

               

NAV Return         

   

-7.26

%

   

0.64

%

Market Return         

   

-7.67

%

   

0.59

%

S&P 500® Index - Price Return         

   

-1.18

%

   

7.44

%

S&P 500® Index - Total Return         

   

0.21

%

   

8.96

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

-0.20

%

Russell 2000 Index - Price Return         

   

-17.75

%

   

-4.25

%

 

(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 

April 30, 2022 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return, NASDAQ 100 Index - Price Return and Russell 2000 Index - Price Return do not include the reinvestment of dividends, if any. 

 

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

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

44

 

INNOVATOR TRIPLE STACKER ETF OCTOBER

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return, NASDAQ-100 Index - Price Return and Russell 2000 Index - Price Return.

 

tsoct.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Triple Stacker ETF - October

               

NAV Return         

   

-2.89

%

   

8.39

%

Market Return         

   

-3.06

%

   

8.26

%

S&P 500® Index - Price Return         

   

-1.18

%

   

13.91

%

S&P 500® Index - Total Return         

   

0.21

%

   

15.57

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

7.79

%

Russell 2000 Index - Price Return         

   

-17.75

%

   

-14.37

%

 

(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 

April 30, 2022 (Unaudited) (Continued) 

 

 

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

 

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

 

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

 

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

 

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

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

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

 

46

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF JANUARY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return.

 

ds9jan.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker 9 Buffer ETF - January

               

NAV Return         

   

-4.38

%

   

0.86

%

Market Return         

   

-4.52

%

   

0.75

%

S&P 500® Index - Price Return         

   

-1.18

%

   

7.44

%

S&P 500® Index - Total Return         

   

0.21

%

   

8.96

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

-0.20

%

 

(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 

April 30, 2022 (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 and S&P 500® Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the S&P 500® Index - Price Return and NASDAQ 100 Index - Price Return do not include the reinvestment of dividends, if any. 

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

48

 

INNOVATOR DOUBLE STACKER 9 BUFFER ETF OCTOBER 

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Total Return, S&P 500® Index - Price Return and NASDAQ-100 Index - Price Return.

 

ds9oct.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Double Stacker 9 Buffer ETF - October

               

NAV Return         

   

-0.45

%

   

6.69

%

Market Return         

   

-0.57

%

   

6.64

%

S&P 500® Index - Price Return         

   

-1.18

%

   

13.91

%

S&P 500® Index - Total Return         

   

0.21

%

   

15.57

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

7.79

%

 

(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 

April 30, 2022 (Unaudited) (Continued) 

 

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

 

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

 

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

 

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

 

You cannot invest directly in an index.

 

Premium/Discount Information:

 

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

 

50

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JANUARY

 

Fund Performance 

April 30, 2022 (Unaudited) 

   

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - January from its inception (December 31, 2021) to April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eajan.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - January

       

NAV Return         

   

-13.69

%

Market Return         

   

-13.86

%

S&P 500® Index - Price Return         

   

-13.31

%

S&P 500® Index - Total Return         

   

-12.92

%

 

(a) Inception date is December 31, 2021.

 

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

 

51

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JANUARY

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

 

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

52

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - APRIL

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eaapr.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - April

               

NAV Return         

   

2.25

%

   

5.75

%

Market Return         

   

1.83

%

   

5.51

%

S&P 500® Index - Price Return         

   

-1.18

%

   

3.69

%

S&P 500® Index - Total Return         

   

0.21

%

   

5.13

%

 

(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. 

 

53

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - APRIL

 

Fund Performance 

April 30, 2022 (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. 

 

54

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JULY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eajul.jpg

 

 

Total Returns as of

April 30, 2022

 
 

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - July

     

NAV Return         

 

-2.86

%

Market Return         

 

-3.05

%

S&P 500® Index - Price Return         

 

-3.85

%

S&P 500® Index - Total Return         

 

-2.75

%

 

(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. 

 

55

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - JULY

 

Fund Performance 

April 30, 2022 (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. 

 

56

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - OCTOBER

 

Fund Performance 

April 30, 2022 (Unaudited)

 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated ETF - October from its inception (September 30, 2021) to April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eaoct.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - October

       

NAV Return         

   

-3.09

%

Market Return         

   

-3.10

%

S&P 500® Index - Price Return         

   

-4.08

%

S&P 500® Index - Total Return         

   

-3.32

%

 

(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. 

 

57

 

INNOVATOR U.S. EQUITY ACCELERATED ETF - OCTOBER

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

   

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

58

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

April 30, 2022 (Unaudited) 

 

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated Plus ETF - January from its inception (December 31, 2021) to April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eapjan.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - January

       

NAV Return         

   

-13.37

%

Market Return         

   

-13.55

%

S&P 500® Index - Price Return         

   

-13.31

%

S&P 500® Index - Total Return         

   

-12.92

%

 

(a) Inception date is December 31, 2021.

           

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

 

59

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

   

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

60

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eapapr.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - April

               

NAV Return         

   

1.96

%

   

5.40

%

Market Return         

   

1.33

%

   

5.15

%

S&P 500® Index - Price Return         

   

-1.18

%

   

3.69

%

S&P 500® Index - Total Return         

   

0.21

%

   

5.13

%

 

(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. 

 

61

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

April 30, 2022 (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. 

 

62

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JULY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eapjul.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - July

       

NAV Return         

   

-2.11

%

Market Return         

   

-2.10

%

S&P 500® Index - Price Return         

   

-3.85

%

S&P 500® Index - Total Return         

   

-2.75

%

 

(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. 

 

63

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - JULY

 

Fund Performance 

April 30, 2022 (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. 

 

64

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

April 30, 2022 (Unaudited) 

     

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated Plus ETF - October from its inception (September 30, 2021) to April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eapoct.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator U.S. Equity Accelerated Plus ETF - October

       

NAV Return         

   

-2.44

%

Market Return         

   

-2.55

%

S&P 500® Index - Price Return         

   

-4.08

%

S&P 500® Index - Total Return         

   

-3.32

%

 

(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.

 

65

 

INNOVATOR U.S. EQUITY ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

   

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

66

 

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

 

Fund Performance 

April 30, 2022 (Unaudited) 

     

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated 9 Buffer ETF - January from its inception (December 31, 2021) to April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

ea9jan.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

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

       

NAV Return         

   

-8.75

%

Market Return         

   

-8.78

%

S&P 500® Index - Price Return         

   

-13.31

%

S&P 500® Index - Total Return         

   

-12.92

%

 

(a) Inception date is December 31, 2021.

 

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

 

67

 

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

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

 

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

68

 

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

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

ea9apr.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

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

               

NAV Return         

   

0.68

%

   

2.58

%

Market Return         

   

0.50

%

   

2.66

%

S&P 500® Index - Price Return         

   

-1.18

%

   

3.69

%

S&P 500® Index - Total Return         

   

0.21

%

   

5.13

%

 

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

 

Fund Performance 

April 30, 2022 (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. 

 

70

 

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

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

ea9jul.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

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

       

NAV Return         

   

-0.28

%

Market Return         

   

-0.39

%

S&P 500® Index - Price Return         

   

-3.85

%

S&P 500® Index - Total Return         

   

-2.75

%

 

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

 

Fund Performance 

April 30, 2022 (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. 

 

72

 

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

 

Fund Performance 

April 30, 2022 (Unaudited) 

   

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator U.S. Equity Accelerated 9 Buffer ETF - October from its inception (September 30, 2021) to April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

ea9oct.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

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

       

NAV Return         

   

-1.33

%

Market Return         

   

-1.40

%

S&P 500® Index - Price Return         

   

-4.08

%

S&P 500® Index - Total Return         

   

-3.32

%

 

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

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

   

 

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

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

74

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

April 30, 2022 (Unaudited) 

     

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated Plus ETF - January from its inception (December 31, 2021) to April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gapjan.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - January

       

NAV Return         

   

-21.32

%

Market Return         

   

-21.48

%

NASDAQ-100 Index - Price Return         

   

-21.23

%

NASDAQ-100 Index - Total Return         

   

-21.06

%

 

(a) Inception date is December 31, 2021.

 

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

 

75

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JANUARY

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

   

 

The line graph and performance table does not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

76

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gapapr.jpg

 

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - April

               

NAV Return         

   

-0.36

%

   

4.46

%

Market Return         

   

-0.58

%

   

4.20

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

-1.67

%

NASDAQ-100 Index - Total Return         

   

-6.61

%

   

-1.01

%

 

(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. 

 

77

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - APRIL

 

Fund Performance 

April 30, 2022 (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. 

 

78

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JULY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gapjul.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - July

       

NAV Return         

   

-11.67

%

Market Return         

   

-11.67

%

NASDAQ-100 Index - Price Return         

   

-11.68

%

NASDAQ-100 Index - Total Return         

   

-11.20

%

 

(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. 

 

79

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - JULY

 

Fund Performance 

April 30, 2022 (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. 

 

80

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

April 30, 2022 (Unaudited) 

   

 

The following chart compares the value of a hypothetical $10,000 investment in the Innovator Growth Accelerated Plus ETF - October from its inception (September 30, 2021) to April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gapoct.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator Growth Accelerated Plus ETF - October

       

NAV Return         

   

-11.40

%

Market Return         

   

-11.65

%

NASDAQ-100 Index - Price Return         

   

-12.49

%

NASDAQ-100 Index - Total Return         

   

-12.16

%

 

(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.

 

81

 

INNOVATOR GROWTH ACCELERATED PLUS ETF - OCTOBER

 

Fund Performance 

April 30, 2022 (Unaudited) (Continued)

   

 

The line graph and performance table does not reflect the deduction of taxes that a shareholder may pay on fund distributions or the redemption of Fund shares. Returns shown for the Fund and NASDAQ-100 Index - Total Return include the reinvestment of all dividends, if any. Returns shown for the NASDAQ-100 Index - Price Return do not include the reinvestment of dividends, if any.

 

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

 

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

 

You cannot invest directly in an index. 

 

Premium/Discount Information: 

 

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

 

82

 

INNOVATOR 20+ YEAR TREASURY BOND 9 BUFFER ETF JULY

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the ICE U.S. Treasury 20+ Year Index - Total Return.

 

tb9jul.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

               

NAV Return         

   

-5.49

%

   

-7.50

%

Market Return         

   

-5.51

%

   

-7.65

%

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

   

-11.99

%

   

-15.51

%

 

(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.

 

83

 

INNOVATOR 20+ YEAR TREASURY BOND 9 BUFFER ETF JULY

 

Fund Performance 

April 30, 2022 (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.

 

84

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the ICE U.S. Treasury 20+ Year Index - Total Return.

 

tb5q.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly

               

NAV Return         

   

-7.25

%

   

-7.36

%

Market Return         

   

-6.86

%

   

-7.30

%

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

   

-11.99

%

   

-15.51

%

 

(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.

 

85

INNOVATOR 20+ YEAR TREASURY BOND 5 FLOOR ETF QUARTERLY

 

Fund Performance 

April 30, 2022 (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.

 

86

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

dws.jpg

 

   

Total Returns as of

April 30, 2022

 
   

Since Inception (a)

 

Innovator Defined Wealth Shield ETF

       

NAV Return         

   

-0.71

%

Market Return         

   

-0.58

%

S&P 500® Index - Price Return         

   

-3.85

%

S&P 500® Index - Total Return         

   

-2.75

%

 

(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. 

 

87

INNOVATOR DEFINED WEALTH SHIELD ETF

 

Fund Performance 

April 30, 2022 (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. 

 

 

88

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the S&P 500® Index - Price Return and Total Return.

 

eaq.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator U.S. Equity Accelerated ETF - Quarterly

               

NAV Return         

   

-5.14

%

   

-1.58

%

Market Return         

   

-5.35

%

   

-1.77

%

S&P 500® Index - Price Return         

   

-1.18

%

   

3.69

%

S&P 500® Index - Total Return         

   

0.21

%

   

5.13

%

 

(a) Inception date is March 31, 2021.

           

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

 

89

 

Fund Performance 

April 30, 2022 (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. 

 

90

 

Fund Performance 

April 30, 2022 (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 April 30, 2022 as compared with the NASDAQ-100 Index - Price Return and Total Return.

 

gaq.jpg

 

   

Average Annual Total Returns as of

April 30, 2022

 
   

One Year

   

Since Inception (a)

 

Innovator Growth Accelerated ETF - Quarterly

               

NAV Return         

   

-10.02

%

   

-5.27

%

Market Return         

   

-10.21

%

   

-5.40

%

NASDAQ-100 Index - Price Return         

   

-7.26

%

   

-1.67

%

NASDAQ-100 Index - Total Return         

   

-6.61

%

   

-1.01

%

 

(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. 

 

91

INNOVATOR GROWTH ACCELERATED ETF QUARTERLY  

 

 

Fund Performance 

April 30, 2022 (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. 

  

92

INNOVATOR ETFs TRUST

 

Expense Example

For the Period Ended April 30, 2022 (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 April 30, 2022 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

   

$

939.40

   

$

4.09

 

(a)

   

0.85

%

Innovator International Developed Power Buffer ETF - April (NAV)         

   

1,000.00

     

916.70

     

4.04

 

(a)

   

0.85

%

Innovator International Developed Power Buffer ETF - July (NAV)         

   

1,000.00

     

952.20

     

4.11

 

(a)

   

0.85

%

Innovator International Developed Power Buffer ETF - October (NAV)         

   

1,000.00

     

933.70

     

4.08

 

(a)

   

0.85

%

Innovator Emerging Markets Power Buffer ETF - January (NAV)         

   

1,000.00

     

922.00

     

4.24

 

(a)

   

0.89

%

Innovator Emerging Markets Power Buffer ETF - April (NAV)         

   

1,000.00

     

963.00

     

4.33

 

(a)

   

0.89

%

Innovator Emerging Markets Power Buffer ETF - July (NAV)         

   

1,000.00

     

937.00

     

4.27

 

(a)

   

0.89

%

Innovator Emerging Markets Power Buffer ETF - October (NAV)         

   

1,000.00

     

929.00

     

4.26

 

(a)

   

0.89

%

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

   

1,000.00

     

893.00

     

3.71

 

(a)

   

0.79

%

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

   

1,000.00

     

941.90

     

3.80

 

(a)

   

0.79

%

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

   

1,000.00

     

928.50

     

3.78

 

(a)

   

0.79

%

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

   

1,000.00

     

917.00

     

3.75

 

(a)

   

0.79

%

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

   

1,000.00

     

928.90

     

3.78

 

(a)

   

0.79

%

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

   

1,000.00

     

908.90

     

3.74

 

(a)

   

0.79

%

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

   

1,000.00

     

923.40

     

3.77

 

(a)

   

0.79

%

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

   

1,000.00

     

905.10

     

3.73

 

(a)

   

0.79

%

Innovator Double Stacker ETF - January (NAV)         

   

1,000.00

     

868.50

     

3.66

 

(a)

   

0.79

%

Innovator Double Stacker ETF - October (NAV)         

   

1,000.00

     

907.40

     

3.74

 

(a)

   

0.79

%

Innovator Triple Stacker ETF - January (NAV)         

   

1,000.00

     

871.90

     

3.67

 

(a)

   

0.79

%

Innovator Triple Stacker ETF - October (NAV)         

   

1,000.00

     

909.00

     

3.74

 

(a)

   

0.79

%

Innovator Double Stacker 9 Buffer ETF - January (NAV)         

   

1,000.00

     

915.30

     

3.75

 

(a)

   

0.79

%

Innovator Double Stacker 9 Buffer ETF - October (NAV)         

   

1,000.00

     

948.30

     

3.82

 

(a)

   

0.79

%

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

   

1,000.00

     

863.10

     

2.36

 

(b)

   

0.79

%

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

   

1,000.00

     

949.80

     

3.82

 

(a)

   

0.79

%

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

   

1,000.00

     

916.60

     

3.75

 

(a)

   

0.79

%

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

   

1,000.00

     

922.00

     

3.76

 

(a)

   

0.79

%

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

   

1,000.00

     

866.30

     

2.36

 

(b)

   

0.79

%

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

   

1,000.00

     

952.60

     

3.82

 

(a)

   

0.79

%

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

   

1,000.00

     

927.40

     

3.78

 

(a)

   

0.79

%

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

   

1,000.00

     

927.40

     

3.78

 

(a)

   

0.79

%

 

93

INNOVATOR ETFs TRUST

 

Expense Example

For the Period Ended April 30, 2022 (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 - January (NAV)

    1,000.00       912.50       2.42  

(b)

    0.79

%

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

    1,000.00       962.80       3.84  

(a)

    0.79

%

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

    1,000.00       966.60       3.85  

(a)

    0.79

%

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

    1,000.00       957.70       3.83  

(a)

    0.79

%

Innovator Growth Accelerated Plus ETF - January (NAV)

    1,000.00       786.80       2.26  

(b)

    0.79

%

Innovator Growth Accelerated Plus ETF - April (NAV)

    1,000.00       906.50       3.73  

(a)

    0.79

%

Innovator Growth Accelerated Plus ETF - July (NAV)

    1,000.00       819.70       3.56  

(a)

    0.79

%

Innovator Growth Accelerated Plus ETF - October (NAV)

    1,000.00       838.30       3.60  

(a)

    0.79

%

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

    1,000.00       890.50       3.70  

(a)

    0.79

%

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

    1,000.00       920.50       3.76  

(a)

    0.79

%

Innovator Defined Wealth Shield ETF (NAV)

    1,000.00       986.50       3.40  

(a)

    0.69

%

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

    1,000.00       882.50       3.69  

(a)

    0.79

%

Innovator Growth Accelerated ETF - Quarterly (NAV)

    1,000.00       805.90       3.54  

(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 181/365 (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 117/365 (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.

 

94

INNOVATOR ETFs TRUST

 

Expense Example

For the Period Ended April 30, 2022 (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

   

$

1,020.58

   

$

4.26

       

0.85

%

Innovator International Developed Power Buffer ETF - April (NAV)         

   

1,000.00

     

1,020.58

     

4.26

       

0.85

%

Innovator International Developed Power Buffer ETF - July (NAV)         

   

1,000.00

     

1,020.58

     

4.26

       

0.85

%

Innovator International Developed Power Buffer ETF - October (NAV)         

   

1,000.00

     

1,020.58

     

4.26

       

0.85

%

Innovator Emerging Markets Power Buffer ETF - January (NAV)         

   

1,000.00

     

1,020.38

     

4.46

       

0.89

%

Innovator Emerging Markets Power Buffer ETF - April (NAV)         

   

1,000.00

     

1,020.38

     

4.46

       

0.89

%

Innovator Emerging Markets Power Buffer ETF - July (NAV)         

   

1,000.00

     

1,020.38

     

4.46

       

0.89

%

Innovator Emerging Markets Power Buffer ETF - October (NAV)         

   

1,000.00

     

1,020.38

     

4.46

       

0.89

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Double Stacker ETF - January (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Double Stacker ETF - October (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Triple Stacker ETF - January (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Triple Stacker ETF - October (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Double Stacker 9 Buffer ETF - January (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Double Stacker 9 Buffer ETF - October (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

 

(b)

   

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

 

(b)

   

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

 

(b)

   

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Growth Accelerated Plus ETF - January (NAV)         

   

1,000.00

     

1,020.88

     

3.96

 

(b)

   

0.79

%

Innovator Growth Accelerated Plus ETF - April (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Growth Accelerated Plus ETF - July (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Growth Accelerated Plus ETF - October (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Defined Wealth Shield ETF (NAV)         

   

1,000.00

     

1,021.37

     

3.46

       

0.69

%

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

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

Innovator Growth Accelerated ETF - Quarterly (NAV)         

   

1,000.00

     

1,020.88

     

3.96

       

0.79

%

 

(a)   Expenses are equal to the Fund’s annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the six month period).

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

  

The accompanying notes are an integral part of these financial statements.
95

 

Schedule of Investments

April 30, 2022 (Unaudited)

 

   

Contracts

   

Notional

Amount

   

Value

 

PURCHASED OPTIONS - 109.14% (a)(b)

                       

CALL OPTIONS - 90.46%

                       

EFA iShares MSCI EAFE ETF, Expires 12/30/2022, Strike Price $0.67

    12,153     $ 83,418,192     $ 80,411,946  
                      80,411,946  

PUT OPTIONS - 18.68%

                       

EFA iShares MSCI EAFE ETF, Expires 12/30/2022, Strike Price $78.68

    12,153       83,418,192       16,604,232  
                      16,604,232  

TOTAL PURCHASED OPTIONS (Cost $99,040,927)

                    97,016,178  
                         

SHORT TERM INVESTMENTS - 0.64%

 

Principal

Amount

                 

Money Market Deposit Account - 0.64%

                       

U.S. Bank Money Market Deposit Account, 0.130% (c)

  $ 568,862               568,862  

TOTAL SHORT TERM INVESTMENTS (Cost $568,862)

                    568,862  
                         

Total Investments (Cost $99,609,789) - 109.78%

                    97,585,040  

Liabilities in Excess of Other Assets - (9.78)%

                    (8,697,115

)

TOTAL NET ASSETS - 100.00%

                  $ 88,887,925  
                         

Asset Type

 

% of Net

Assets

                 

Purchased Options

    109.14

%

               

Short Term Investments

    0.64                  

Total Investments

    109.78                  

Liabilities in Excess of Other Assets