Fund Description: Innovator S&P 500 Buffer ETF - June is an actively managed exchange-traded fund or Actively Managed ETF which is a separate investment portfolio of the Innovator ETFs Trust, an open-end investment management company. INVESTMENT OBJECTIVE: The Innovator S&P 500 Buffer ETF - June seeks to provide investors with returns that match those of the S&P 500 Price Index, up to the upside cap of 16.45% (prior to taking into account management fees and other fees) and 15.66% (after taking into account management fees and other fees) while providing a buffer against the first 9% of S&P 500 Price Index losses, over the period from 6/1/2019 to 5/31/2020. The Fund is an actively managed ETF and thus, does not seek to replicate the performance of a specific index, but rather uses an active investment strategy to meet its investment objective, however, an actively managed ETF may have an index-based benchmark. Accordingly, the ETF’s investment advisors has discretion on a daily basis to actively manage the Fund’s portfolio in accordance with the Fund’s investment objective and investment policies. FUND STRATEGY: The Fund invests at least 80% of its net assets in FLexible EXchange Options (FLEX Options) that reference the S&P 500 Price Return Index (S&P 500 Price Index). FLEX Options are exchange-traded options contracts with uniquely customizable terms. Although guaranteed for settlement by the Options Clearing Corporation (the OCC), In general, an option contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy or sell a particular asset at a specified future date at an agreed upon price. The reference asset for all of the Fund’s FLEX Options is the S&P 500 Price Index, a large-cap, market-weighted, U.S. equities index that tracks the price (excluding dividends) of the 500 leading companies in leading industries. The pre-determined outcomes sought by the Fund, which include the buffer and Cap are based upon the performance of the S&P 500 Price Index over the period of 6/1/2019 through 5/31/2020. This period is referred to as the initial Outcome Period. FUND MANAGEMENT: Innovator Capital Management, LLC serves as the investment adviser to the Fund. Milliman Financial Risk Management LLC serves as the Sub- Adviser to the Fund.