Innovator U.S. Equity Buffer ETF

The Innovator U.S. Equity Buffer ETF - October (BOCT) is an actively managed exchange-traded fund listed on the Chicago Board Options Exchange (CBOE), issued by Innovator Capital Management LLC — the pioneer of defined outcome ETFs and creator of the world's first Buffer ETFs™ in 2018. The fund seeks to replicate the price return of the SPDR S&P 500 ETF Trust (SPY) up to a predetermined upside cap, while simultaneously providing investors with a buffer against the first 9% of losses over a one-year outcome period beginning each October, achieved through the use of FLEX options. With a net expense ratio of 0.79% and approximately $230–315 million in assets under management, BOCT is designed as a long-term holding, as its protective buffer and upside cap characteristics reset annually at the end of each outcome period. Innovator Capital Management, headquartered in Wheaton, Illinois, manages more than $31 billion in AUM across 159 defined outcome ETFs, and in December 2025 announced an agreement to be acquired by Goldman Sachs.