UMAY Profile
The
Innovator S&P 500 Ultra Buffer ETF - May (UMAY) is an exchange-traded
fund that seeks to provide investors with exposure to the S&P 500
Index while offering a buffer against losses of up to 9%. The ETF uses
a defined outcome investment strategy that employs options contracts
to establish downside buffers of 9% and 30% for the S&P 500 Index over
a one-year period.
UMAY seeks to provide investors with
exposure to the S&P 500 Index with a downside buffer of 9% from the
index's price at the beginning of the outcome period (in this case,
May 1st). This means that if the S&P 500 Index declines by up to 9%
during the outcome period, the ETF aims to absorb the first 9% of
losses, while any losses beyond 9% would be borne by the investor.
At the same time, UMAY also sets an upside cap of 14.12% for the
outcome period, meaning that investors can participate in gains up to
that level, but no more. This is achieved through the sale of call
options on the S&P 500 Index.
The UMAY ETF is designed for
investors seeking downside protection against market volatility while
still having the potential for some upside participation in the S&P
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