Innovator ETFs Trust

10/22/2025 | Press release | Distributed by Public on 10/22/2025 14:34

Prospectus by Investment Company (Form 497)

Rule 497(e)

File No. 333-146827

Innovator ETFs® Trust

(the "Trust")

Supplement to the Statement of Additional Information ("SAI")
for each series listed in Appendix A (each a "Fund")

Dated October 22, 2025

Effective November 1, 2025, Jim Nash has been appointed Chief Compliance Officer and Anti-Money Laundering Officer of the Trust. Accordingly, the "Trustees and Officers" table contained in the "Management of the Trust" section in each Fund's SAI is amended to reflect the below, and any other references to Kenneth Kalina in each Fund's SAI are deleted in their entirety and replaced with "James Nash":

Name, Address and Year
of Birth
Position(s) Held
with the Trust
Length of
Time
Served
Principal Occupation(s)
During Past 5 Years
Number of
Portfolios in
Fund Complex
Overseen by
Trustee or
Officer
Other Directorships Held
by Trustee or Officer in the
Past Five Years

James Nash
3 Canal Plaza, Suite 100
Portland, ME 04101


Year of Birth: 1981

Chief Compliance Officer and Anti-Money Laundering Officer Since 2025 Director, ACA Group, LLC (July 2025 - Present); Chief Compliance Officer, Simplify Asset Management, Inc. (March 2025 - July 2025); Director, Lead Fund Chief Compliance Officer, ACA Group, LLC (2016 - March 2025) 160 None

Please Keep This Supplement With Your Statement of
Additional Information For Future Reference

Appendix A

Innovator 20+ Year Treasury Bond 5 Floor ETF® - Quarterly

Innovator 20+ Year Treasury Bond 9 Buffer ETFÔ - July

Innovator Buffer Step Up Strategy ETF®

Innovator Deepwater Frontier Tech ETF

Innovator Defined Wealth Shield ETF

Innovator Emerging Markets 10 Buffer ETFÔ - Quarterly

Innovator Emerging Markets Power Buffer ETFÔ - January

Innovator Emerging Markets Power Buffer ETFÔ - April

Innovator Emerging Markets Power Buffer ETFÔ - July

Innovator Emerging Markets Power Buffer ETFÔ - October

Innovator Equity Autocallable Income Strategy ETF

Innovator Equity Defined Protection ETF® - 1 Yr January

Innovator Equity Defined Protection ETF® - 1 Yr February

Innovator Equity Defined Protection ETF® - 1 Yr March

Innovator Equity Defined Protection ETF® - 1 Yr April

Innovator Equity Defined Protection ETF® - 1 Yr May

Innovator Equity Defined Protection ETF® - 1 Yr June

Innovator Equity Defined Protection ETF® - 1 Yr July

Innovator Equity Defined Protection ETF® - 1 Yr August

Innovator Equity Defined Protection ETF® - 1 Yr September

Innovator Equity Defined Protection ETF® - 1 Yr October

Innovator Equity Defined Protection ETF® - 1 Yr November

Innovator Equity Defined Protection ETF® - 1 Yr December

Innovator Equity Defined Protection ETF® - 2 Yr to January 2026

Innovator Equity Defined Protection ETF® - 2 Yr to April 2026

Innovator Equity Defined Protection ETF® - 2 Yr to July 2026

Innovator Equity Defined Protection ETF® - 2 Yr to October 2026

Innovator Equity Defined Protection ETF® - 2 Yr to January 2027

Innovator Equity Defined Protection ETF® - 2 Yr to April 2027

Innovator Equity Defined Protection ETF® - 2 Yr to July 2027

Innovator Equity Defined Protection ETF® - 2 Yr to October 2027

Innovator Equity Defined Protection ETF® - 6 Mo Jan/Jul

Innovator Equity Defined Protection ETF® - 6 Mo Apr/Oct

Innovator Equity Dual Directional 10 Buffer ETF™ - July

Innovator Equity Dual Directional 10 Buffer ETF™ - September

Innovator Equity Dual Directional 10 Buffer ETF™ - October

Innovator Equity Dual Directional 15 Buffer ETF™ - July

Innovator Equity Dual Directional 15 Buffer ETF™ - September

Innovator Equity Dual Directional 15 Buffer ETF™ - October

Innovator Equity Managed Floor ETF®

Innovator Equity Managed 100 Buffer ETF™

Innovator Equity Premium Income - Daily PutWrite ETF

Innovator Gradient Tactical Rotation Strategy ETF

Innovator Growth Accelerated ETF® - Quarterly

Innovator Growth Accelerated Plus ETF® - January

Innovator Growth Accelerated Plus ETF® - April

Innovator Growth Accelerated Plus ETF® - July

Innovator Growth Accelerated Plus ETF® - October

Innovator Growth-100 Power Buffer ETFÔ - January

Innovator Growth-100 Power Buffer ETFÔ - February

Innovator Growth-100 Power Buffer ETFÔ - March

Innovator Growth-100 Power Buffer ETFÔ - April

Innovator Growth-100 Power Buffer ETFÔ - May

Innovator Growth-100 Power Buffer ETFÔ - June

Innovator Growth-100 Power Buffer ETFÔ - July

Innovator Growth-100 Power Buffer ETFÔ - August

Innovator Growth-100 Power Buffer ETFÔ - September

Innovator Growth-100 Power Buffer ETFÔ - October

Innovator Growth-100 Power Buffer ETFÔ - November

Innovator Growth-100 Power Buffer ETFÔ - December

Innovator Hedged Nasdaq-100â ETF

Innovator IBD® 50 ETF

Innovator IBD® Breakout Opportunities ETF

Innovator Index Autocallable Income Strategy ETF

Innovator International Developed 10 Buffer ETFÔ - Quarterly

Innovator International Developed Power Buffer ETFÔ - January

Innovator International Developed Power Buffer ETFÔ - February

Innovator International Developed Power Buffer ETFÔ - March

Innovator International Developed Power Buffer ETFÔ - April

Innovator International Developed Power Buffer ETFÔ - May

Innovator International Developed Power Buffer ETFÔ - June

Innovator International Developed Power Buffer ETFÔ - July

Innovator International Developed Power Buffer ETFÔ - August

Innovator International Developed Power Buffer ETFÔ - September

Innovator International Developed Power Buffer ETFÔ - October

Innovator International Developed Power Buffer ETFÔ - November

Innovator International Developed Power Buffer ETFÔ - December

Innovator Laddered Allocation Buffer ETF™

Innovator Laddered Allocation Power Buffer ETF™

Innovator Nasdaq-100® 10 Buffer ETFÔ - Quarterly

Innovator Nasdaq-100® Managed Floor ETF®

Innovator Power Buffer Step Up Strategy ETF®

Innovator Premium Income 15 Buffer ETFÔ - January

Innovator Premium Income 15 Buffer ETFÔ - April

Innovator Premium Income 15 Buffer ETFÔ - July

Innovator Premium Income 15 Buffer ETFÔ - October

Innovator Premium Income 20 Barrier ETF® - January

Innovator Premium Income 20 Barrier ETF® - April

Innovator Premium Income 20 Barrier ETF® - July

Innovator Premium Income 20 Barrier ETF® - October

Innovator Premium Income 30 Barrier ETF® - January

Innovator Premium Income 30 Barrier ETF® - April

Innovator Premium Income 30 Barrier ETF® - July

Innovator Premium Income 30 Barrier ETF® - October

Innovator S&P Investment Grade Preferred ETF

Innovator U.S. Equity 5 to 15 Buffer ETFÔ - Quarterly

Innovator U.S. Equity 10 Buffer ETFÔ - Quarterly

Innovator U.S. Equity Accelerated ETF® - Quarterly

Innovator U.S. Equity Accelerated 9 Buffer ETFÔ - January

Innovator U.S. Equity Accelerated 9 Buffer ETFÔ - April

Innovator U.S. Equity Accelerated 9 Buffer ETFÔ - July

Innovator U.S. Equity Accelerated 9 Buffer ETFÔ - October

Innovator U.S. Equity Accelerated Plus ETF® - January

Innovator U.S. Equity Accelerated Plus ETF® - April

Innovator U.S. Equity Accelerated Plus ETF® - July

Innovator U.S. Equity Accelerated Plus ETF® - October

Innovator U.S. Equity Buffer ETFÔ - January

Innovator U.S. Equity Buffer ETFÔ - February

Innovator U.S. Equity Buffer ETFÔ - March

Innovator U.S. Equity Buffer ETFÔ - April

Innovator U.S. Equity Buffer ETFÔ - May

Innovator U.S. Equity Buffer ETFÔ - June

Innovator U.S. Equity Buffer ETFÔ - July

Innovator U.S. Equity Buffer ETFÔ - August

Innovator U.S. Equity Buffer ETFÔ - September

Innovator U.S. Equity Buffer ETFÔ - October

Innovator U.S. Equity Buffer ETFÔ - November

Innovator U.S. Equity Buffer ETFÔ - December

Innovator U.S. Equity Power Buffer ETFÔ - January

Innovator U.S. Equity Power Buffer ETFÔ - February

Innovator U.S. Equity Power Buffer ETFÔ - March

Innovator U.S. Equity Power Buffer ETFÔ - April

Innovator U.S. Equity Power Buffer ETFÔ - May

Innovator U.S. Equity Power Buffer ETFÔ - June

Innovator U.S. Equity Power Buffer ETFÔ - July

Innovator U.S. Equity Power Buffer ETFÔ - August

Innovator U.S. Equity Power Buffer ETFÔ - September

Innovator U.S. Equity Power Buffer ETFÔ - October

Innovator U.S. Equity Power Buffer ETFÔ - November

Innovator U.S. Equity Power Buffer ETFÔ - December

Innovator U.S. Equity Ultra Buffer ETFÔ - January

Innovator U.S. Equity Ultra Buffer ETFÔ - February

Innovator U.S. Equity Ultra Buffer ETFÔ - March

Innovator U.S. Equity Ultra Buffer ETFÔ - April

Innovator U.S. Equity Ultra Buffer ETFÔ - May

Innovator U.S. Equity Ultra Buffer ETFÔ - June

Innovator U.S. Equity Ultra Buffer ETFÔ - July

Innovator U.S. Equity Ultra Buffer ETFÔ - August

Innovator U.S. Equity Ultra Buffer ETFÔ - September

Innovator U.S. Equity Ultra Buffer ETFÔ - October

Innovator U.S. Equity Ultra Buffer ETFÔ - November

Innovator U.S. Equity Ultra Buffer ETFÔ - December

Innovator U.S. Small Cap 10 Buffer ETFÔ - Quarterly

Innovator U.S. Small Cap Managed Floor ETF®

Innovator U.S. Small Cap Power Buffer ETFÔ - January

Innovator U.S. Small Cap Power Buffer ETFÔ - February

Innovator U.S. Small Cap Power Buffer ETFÔ - March

Innovator U.S. Small Cap Power Buffer ETFÔ - April

Innovator U.S. Small Cap Power Buffer ETFÔ - May

Innovator U.S. Small Cap Power Buffer ETFÔ - June

Innovator U.S. Small Cap Power Buffer ETFÔ - July

Innovator U.S. Small Cap Power Buffer ETFÔ - August

Innovator U.S. Small Cap Power Buffer ETFÔ - September

Innovator U.S. Small Cap Power Buffer ETFÔ - October

Innovator U.S. Small Cap Power Buffer ETFÔ - November

Innovator U.S. Small Cap Power Buffer ETFÔ - December

Innovator Uncapped Accelerated U.S. Equity ETFÔ

Innovator Uncapped Bitcoin 20 Floor ETF® - Quarterly

Innovator ETFs Trust published this content on October 22, 2025, and is solely responsible for the information contained herein. Distributed via EDGAR on October 22, 2025 at 20:34 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]