Innovator U.S. Equity Ultra Buffer ETF - August

Frequently Asked Questions About UAUG

What does UAUG invest in?

Innovator ETFs Trust - Innovator U.S. Equity Ultra Buffer ETF - August 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. The fund invests through derivatives in stocks of companies operating across diversified sectors. It uses derivatives such as FLexible EXchange Options that reference the performance of the SPDR S&P 500 ETF Trust to create its portfolio. The fund invests in growth and value stocks of large-cap companies. Innovator ETFs Trust - Innovator U.S. Equity Ultra Buffer ETF - August was formed on July 31, 2019 and is domiciled in the United States.

What is the expense ratio of UAUG?

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

Is UAUG a good long-term hold?

UAUG is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does UAUG's daily reset work?

UAUG rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is UAUG?

Innovator U.S. Equity Ultra Buffer ETF - August (UAUG) manages $164.9M 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 UAUG actively managed or an index fund?

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