INNOVATOR ETFS TRUST INNOVATOR S&P 500 BUFFER ETF - JULY ETF

The investment seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust. The fund invests at least 80% of its net assets in FLexible EXchange® Options (FLEX Options) that reference SPDR® S&P 500® ETF Trust (the ?Underlying ETF?). FLEX Options are exchange-traded options contracts with uniquely customizable terms. The Sub-Adviser has constructed a portfolio principally composed of FLEX Options that reference the Underlying ETF that are each set to expire on the last day of the Outcome Period. The fund is non-diversified.