# EDGAR Filing Document

**Accession Number:** 0001415726
**File Stem:** 0001437749-23-002182
**Filing Date:** 2023-2
**Character Count:** 6583
**Document Hash:** 7b17a06bd88a2043eae452b682db7535
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-23-002182.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001437749-23-002182

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230131

**EFFECTIVENESS DATE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Innovator ETFs Trust
- **CENTRAL INDEX KEY:** 0001415726
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-146827
- **FILM NUMBER:** 23574264

**BUSINESS ADDRESS:**
- **STREET 1:** 109 NORTH HALE STREET
- **CITY:** WHEATON
- **STATE:** IL
- **ZIP:** 60187
- **BUSINESS PHONE:** 800-621-1675

**MAIL ADDRESS:**
- **STREET 1:** 109 NORTH HALE 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 - February (Series ID: S000067825)

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|  |  |
|:---|:---|
| Class Name                                        | Class ID   |
| Innovator U.S. Equity Ultra Buffer ETF - February | C000217571 |

---

### Innovator U.S. Equity Power Buffer ETF - February (Series ID: S000067826)

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|  |  |
|:---|:---|
| Class Name                                        | Class ID   |
| Innovator U.S. Equity Power Buffer ETF - February | C000217572 |

---

### Innovator U.S. Equity Buffer ETF - February (Series ID: S000067827)

---

|  |  |
|:---|:---|
| Class Name                                  | Class ID   |
| Innovator U.S. Equity Buffer ETF - February | C000217573 |

---

## Series and Classes Contracts Data

### Innovator U.S. Equity Ultra Buffer ETF - February (Series ID: S000067825)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000217571 | Innovator U.S. Equity Ultra Buffer ETF - February |  |

### Innovator U.S. Equity Power Buffer ETF - February (Series ID: S000067826)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000217572 | Innovator U.S. Equity Power Buffer ETF - February |  |

### Innovator U.S. Equity Buffer ETF - February (Series ID: S000067827)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000217573 | Innovator U.S. Equity Buffer ETF - February |  |

Rule 497(e)

File No. 333-146827

Innovator ETFs Trust

(the "*Trust*")

Innovator U.S. Equity Buffer ETF™ – February

Innovator U.S. Equity Power Buffer ETF™ – February

Innovator U.S. Equity Ultra Buffer ETF™ – February

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

Supplement to Each Fund's Prospectus<br> Dated March 1, 2022<br>January 31, 2023

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 current Outcome Period will end on January 31, 2023. Each Fund will commence a new outcome period that will begin on February 1, 2023 and end on January 31, 2024. 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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| | | | |
|:---|:---|:---|:---|
| <br> **Fund**<br>| <br> **Ticker** | <br> **Cap** | <br> **Investment Objective** |
| <br> Innovator U.S. Equity<br> Buffer ETF™ – February | <br> BFEB | <br> Gross: 19.47%<br> Net: 18.68%\* | &nbsp;&nbsp;&nbsp; <br> The Fund seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 19.47% (prior to taking into account management fees and other fees) and 18.68% (after taking into account management fees) while providing a buffer against the first 9% (prior to taking into account management fees and other fees) and 8.21% (after taking into account management fees) of SPDR® S&P 500® ETF Trust losses, over the period from February 1, 2023 to January 31, 2024. |
| <br> Innovator U.S. Equity<br> Power Buffer ETF™ – <br> February | <br> PFEB | <br> Gross: 14.34%<br> Net: 13.55%\* | &nbsp;&nbsp;&nbsp; <br> The Fund seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 14.34% (prior to taking into account management fees and other fees) and 13.55% (after taking into account management fees) while providing a buffer against the first 15% (prior to taking into account management fees and other fees) and 14.21% (after taking into account management fees) of SPDR® S&P 500® ETF Trust losses, over the period from February 1, 2023 to January 31, 2024. |
| <br> Innovator U.S. Equity<br> Ultra Buffer ETF™ – <br> February | <br> UFEB | <br> Gross: 13.29%<br> Net: 12.50%\* | &nbsp;&nbsp;&nbsp; <br> The Fund seeks to provide investors with returns that match the price return of the SPDR® S&P 500® ETF Trust, up to the upside cap of 13.29% (prior to taking into account management fees and other fees) and 12.50% (after taking into account management fees) while providing a buffer against SPDR® S&P 500® ETF Trust losses of between 5% and 35% (prior to taking into account management fees and other fees) and between 4.21% and 34.21% (after taking into account management fees), over the period from February 1, 2023 to January 31, 2024. |

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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;&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;&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: February 1, 2023 through January 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&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