# EDGAR Filing Document

**Accession Number:** 0001415726
**File Stem:** 0001213900-25-105133
**Filing Date:** 2025-11
**Character Count:** 11072
**Document Hash:** 3185a92fd8003960ca1a5a36eae711cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-105133.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001213900-25-105133

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**EFFECTIVENESS DATE**: 20251103

**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:** 251443543

**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 U.S. Equity Ultra Buffer ETF - November (Series ID: S000066826)

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|  |  |
|:---|:---|
| Class Name                                        | Class ID   |
| Innovator U.S. Equity Ultra Buffer ETF - November | C000215175 |

---

### Innovator U.S. Equity Power Buffer ETF - November (Series ID: S000066827)

---

|  |  |
|:---|:---|
| Class Name                                        | Class ID   |
| Innovator U.S. Equity Power Buffer ETF - November | C000215176 |

---

### Innovator U.S. Equity Buffer ETF - November (Series ID: S000066828)

---

|  |  |
|:---|:---|
| Class Name                                  | Class ID   |
| Innovator U.S. Equity Buffer ETF - November | C000215177 |

---

### Innovator International Developed Power Buffer ETF - November (Series ID: S000081710)

---

|  |  |
|:---|:---|
| Class Name                                                    | Class ID   |
| Innovator International Developed Power Buffer ETF - November | C000244688 |

---

### Innovator Growth-100 Power Buffer ETF - November (Series ID: S000085953)

---

|  |  |
|:---|:---|
| Class Name                                       | Class ID   |
| Innovator Growth-100 Power Buffer ETF - November | C000251353 |

---

### Innovator U.S. Small Cap Power Buffer ETF - November (Series ID: S000085970)

---

|  |  |
|:---|:---|
| Class Name                                           | Class ID   |
| Innovator U.S. Small Cap Power Buffer ETF - November | C000251370 |

---

### Innovator Equity Defined Protection ETF - 1 Yr November (Series ID: S000088148)

---

|  |  |
|:---|:---|
| Class Name                                              | Class ID   |
| Innovator Equity Defined Protection ETF - 1 Yr November | C000254202 |

---

## Series and Classes Contracts Data

### Innovator U.S. Equity Ultra Buffer ETF - November (Series ID: S000066826)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000215175 | Innovator U.S. Equity Ultra Buffer ETF - November |  |

### Innovator U.S. Equity Power Buffer ETF - November (Series ID: S000066827)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000215176 | Innovator U.S. Equity Power Buffer ETF - November |  |

### Innovator U.S. Equity Buffer ETF - November (Series ID: S000066828)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000215177 | Innovator U.S. Equity Buffer ETF - November |  |

### Innovator International Developed Power Buffer ETF - November (Series ID: S000081710)

| Class ID   | Class Name                                                    | Ticker Symbol   |
|:---|:---|:---|
| C000244688 | Innovator International Developed Power Buffer ETF - November |  |

### Innovator Growth-100 Power Buffer ETF - November (Series ID: S000085953)

| Class ID   | Class Name                                       | Ticker Symbol   |
|:---|:---|:---|
| C000251353 | Innovator Growth-100 Power Buffer ETF - November |  |

### Innovator U.S. Small Cap Power Buffer ETF - November (Series ID: S000085970)

| Class ID   | Class Name                                           | Ticker Symbol   |
|:---|:---|:---|
| C000251370 | Innovator U.S. Small Cap Power Buffer ETF - November |  |

### Innovator Equity Defined Protection ETF - 1 Yr November (Series ID: S000088148)

| Class ID   | Class Name                                              | Ticker Symbol   |
|:---|:---|:---|
| C000254202 | Innovator Equity Defined Protection ETF - 1 Yr November |  |

Rule 497(e)

File No. 333-146827

Innovator ETFs<sup>®</sup> Trust

(the "*Trust*")

Innovator Equity Defined Protection ETF<sup>®</sup> – 1 Yr November

Innovator Growth-100 Power Buffer ETFÔ – November

Innovator International Developed Power Buffer ETFÔ – November

Innovator U.S. Equity Buffer ETFÔ – November

Innovator U.S. Equity Power Buffer ETFÔ – November

Innovator U.S. Equity Ultra Buffer ETFÔ – November

Innovator U.S. Small Cap Power Buffer ETFÔ – November

(each, a *"Fund"* and together, the *"Funds"*)

Supplement to Each Fund's Prospectus

Dated February 27, 2025 or February 28, 2025

November 3, 2025

As described in detail in each Fund's prospectus, an investment in shares of each Fund is subject to an upside return cap (the *"Cap"*) that represents the maximum percentage return an investor can achieve from an investment in such Fund for the Outcome Period of approximately one year. The prior Outcome Period ended on October 31, 2025. Each Fund has commenced a new Outcome Period that began on November 1, 2025 and will end on October 31, 2026. An investment in each Fund over the course of the Outcome Period will be subject to such Fund's Cap as set forth in the table below.

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Ticker** | &nbsp;&nbsp;**Cap** | &nbsp;&nbsp;**Investment Objective** |
| &nbsp;&nbsp;Innovator Equity Defined Protection ETFÔ – 1 Yr November | &nbsp;&nbsp;ZNOV | &nbsp;&nbsp;Gross: 6.84%<br> Net: 6.05%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the upside price return of the SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust, up to the upside cap of 6.84% (prior to taking into account management fees and other fees) while providing a buffer against 100% of SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust losses (prior to taking into account management fees and other fees), over the period from November 1, 2025 to October 31, 2026. |
| &nbsp;&nbsp;Innovator Growth-100 Power Buffer ETFÔ – November | &nbsp;&nbsp;NNOV | &nbsp;&nbsp;Gross: 15.92%<br> Net: 15.13%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the price return of the Invesco QQQ Trust<sup>SM</sup>, Series 1, up to the upside cap of 15.92% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of Invesco QQQ Trust<sup>SM</sup>, Series 1 losses, over the period from November 1, 2025 to October 31, 2026. |
| &nbsp;&nbsp;Innovator International Developed Power Buffer ETFÔ – November | &nbsp;&nbsp;INOV | &nbsp;&nbsp;Gross: 18.86%<br> Net: 18.01%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the price return of the iShares MSCI EAFE ETF, up to the upside cap of 18.86% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of iShares MSCI EAFE ETF losses, over the period from November 1, 2025 to October 31, 2026. |

---

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| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;Innovator U.S. Equity Buffer ETF™ – November | &nbsp;&nbsp;BNOV | &nbsp;&nbsp;Gross: 17.60%<br> Net: 16.81%\* | &nbsp;&nbsp;The Fund seeks to provide 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 17.60% (prior to taking into account management fees and other fees) while providing a buffer against the first 9% (prior to taking into account management fees and other fees) of SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust losses, over the period from November 1, 2025 to October 31, 2026. |
| &nbsp;&nbsp;Innovator U.S. Equity Power Buffer ETF™ – November | &nbsp;&nbsp;PNOV | &nbsp;&nbsp;Gross:13.25%<br> Net: 12.46%\* | &nbsp;&nbsp;The Fund seeks to provide 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 13.25% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust losses, over the period from November 1, 2025 to October 31, 2026. |
| &nbsp;&nbsp;Innovator U.S. Equity Ultra Buffer ETF™ – November | &nbsp;&nbsp;UNOV | &nbsp;&nbsp;Gross: 12.00%<br> Net: 11.21%\* | &nbsp;&nbsp;The Fund seeks to provide 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 12.00% (prior to taking into account management fees and other fees) while providing a buffer against SPDR<sup>®</sup> S&P 500<sup>®</sup> ETF Trust losses of between 5% and 35% (prior to taking into account management fees and other fees) over the period from November 1, 2025 to October 31, 2026. |
| &nbsp;&nbsp;Innovator U.S. Small Cap Power Buffer ETFÔ – November | &nbsp;&nbsp;KNOV | &nbsp;&nbsp;Gross: 18.27%<br> Net: 17.48%\* | &nbsp;&nbsp;The Fund seeks to provide investors with returns that match the price return of the iShares Russell 2000 ETF, up to the upside cap of 18.27% (prior to taking into account management fees and other fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) of iShares Russell 2000 ETF losses, over the period from November 1, 2025 to October 31, 2026. |

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

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

&nbsp;&nbsp;&nbsp;&nbsp;1. Each Fund's investment objective is deleted in its entirety and replaced with the corresponding
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 new Outcome Period: November 1, 2025 through October 31, 2026.

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

Please Keep This Supplement With Your Prospectus For Future Reference