Innovator U.S. Equity Power Buffer ETF - May

Frequently Asked Questions About PMAY

What does PMAY invest in?

Innovator ETFs Trust - Innovator U.S. Equity Power Buffer ETF - May is an exchange traded fund launched and managed by Innovator Capital Management, LLC. The fund is co-managed by Milliman Financial Risk Management LLC. It invests in public equity markets of the United States. It invests through derivatives in stocks of companies operating across information technology sectors. The fund uses derivatives such as FLexible EXchange Options that reference the performance of the SPDR S&P 500 ETF Trust to create its portfolio. It invests in growth and value stocks of large-cap companies. Innovator ETFs Trust - Innovator U.S. Equity Power Buffer ETF - May was formed on April 30, 2020 and is domiciled in the United States.

What is the expense ratio of PMAY?

Innovator U.S. Equity Power Buffer ETF - May (PMAY) charges an expense ratio of 0.79%. This is the annual fee deducted from fund assets to cover management and operations.

What is PMAY's distribution yield?

PMAY's trailing-twelve-month yield is —, calculated from the sum of distributions over the past year divided by the current price.

How does PMAY's covered-call strategy work?

PMAY sells call options against the stocks (or index) it holds, collecting premium income that gets passed through to shareholders as distributions. The strategy generates above-market income in flat or rising markets but caps upside. When the underlying rallies past the strike, the gains above the strike go to the option buyer, not the fund.

How big is PMAY?

Innovator U.S. Equity Power Buffer ETF - May (PMAY) manages $782.8M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.

Is PMAY actively managed or an index fund?

PMAY's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.