# EDGAR Filing Document

**Accession Number:** 0001415726
**File Stem:** 0001213900-25-059911
**Filing Date:** 2025-7
**Character Count:** 4356
**Document Hash:** d92f990397c4cd30b3849df7be4e7506
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-059911.hdr.sgml**: 20250701

**ACCESSION NUMBER**: 0001213900-25-059911

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250701

**DATE AS OF CHANGE**: 20250630

**EFFECTIVENESS DATE**: 20250701

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Innovator ETFs Trust
- **CENTRAL INDEX KEY:** 0001415726

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146827
- **FILM NUMBER:** 251093936

**BUSINESS ADDRESS:**
- **STREET 1:** 200 W. FRONT STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 800-621-1675

**MAIL ADDRESS:**
- **STREET 1:** 200 W. FRONT STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INNOVATOR ETFS TRUST
- **DATE OF NAME CHANGE:** 20170825

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Academy Funds Trust
- **DATE OF NAME CHANGE:** 20071019

## Series and Classes Contracts Data

### Innovator Defined Wealth Shield ETF (Series ID: S000072431)

---

|  |  |
|:---|:---|
| Class Name                          | Class ID   |
| Innovator Defined Wealth Shield ETF | C000228657 |

---

## Series and Classes Contracts Data

### Innovator Defined Wealth Shield ETF (Series ID: S000072431)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000228657 | Innovator Defined Wealth Shield ETF |  |

Rule 497(e)

File No. 333-146827

Innovator ETFs<sup>Ò</sup> Trust

(the "*Trust*")

Innovator Defined Wealth Shield ETF

(the *"Fund"*)

Supplement to the Fund's Prospectus <br> Dated February 28, 2025

June 30, 2025

As described in detail in the Fund's prospectus, an investment in shares of the Fund is subject to an upside return cap (the *"Cap"*) that represents the maximum percentage return an investor can achieve from an investment in the Fund for the Outcome Period of approximately three months. The Fund also seeks to provide investors that hold Fund shares with a buffer (the *"Buffer"*) against SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust losses during the Outcome Period. The current Outcome Period will end on June 30, 2025, and the Fund will commence a new Outcome Period that will begin on July 1, 2025 and end on September 30, 2025. An investment in the Fund over the course of the Outcome Period will be subject to the Cap and Buffer set forth in the table below.

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Fund Name** | &nbsp;&nbsp;**Ticker** | &nbsp;&nbsp;**Cap** | &nbsp;&nbsp;**Buffer** |
| &nbsp;&nbsp;Innovator Defined Wealth Shield ETF | &nbsp;&nbsp;BALT | &nbsp;&nbsp;Gross: 2.40%<br> Net: 2.22%\* | &nbsp;&nbsp; 20%<br>(19.82% after taking into account the Fund's unitary management fee)<br>&nbsp;&nbsp;The Fund seeks capital appreciation with a measure of downside protection by providing investors with returns that match the price return of the SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust, up to the upside cap of 2.40% (prior to taking into account management fees and other Fund operating expenses) while seeking to provide a buffer against the first 20% (prior to taking into account management fees and other Fund operating expenses) of SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust losses, over the period from July 1, 2025 through September 30, 2025. |

---

\* Takes into account the Fund's unitary management fee for the Outcome period.

In connection with the onset of the new Outcome Period, the Fund's prospectus is amended as set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;1. The Fund's investment objective is deleted in its entirety and replaced with the investment objective
set forth in the table above.

&nbsp;&nbsp;&nbsp;&nbsp;2. All references to the dates associated with the prior Outcome Period are deleted in their entirety and
replaced with references to the new Outcome Period: July 1, 2025 through September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;3. All references to the Cap and Buffer for the prior Outcome Period are deleted in their entirety and replaced
with the corresponding Cap and Buffer set forth in the table above.

Please Keep This Supplement With Your Prospectus For Future Reference