Innovator ETFs Trust
02/20/2026 | Press release | Distributed by Public on 02/20/2026 16:13
Prospectus by Investment Company (Form 497)
Rule 497(e)
File No. 333-146827
Innovator ETFs® Trust
(the "Trust")
Innovator Growth-100 Power Buffer ETF™ - March
Innovator International Developed Power Buffer ETF™ - March
Innovator U.S. Equity Buffer ETF™ - March
Innovator U.S. Equity Power Buffer ETF™ - March
Innovator U.S. Small Cap Power Buffer ETF™ - March
(each, a "Fund" and together, the "Funds")
Supplement to Each Fund's Prospectus
Dated February 27, 2025 or March 3, 2025
February 20, 2026
As described in detail in each Fund's prospectus, an investment in shares of a Fund is subject to an upside return cap (the "Cap") that represents the maximum percentage return an investor can achieve from an investment in the Fund for the Outcome Period of approximately one year. The current Outcome Period will end on February 28, 2026, and each Fund will commence a new Outcome Period that will begin on March 1, 2026 and end on February 28, 2027. Each Fund's Cap will not be determined until the start of the new Outcome Period. At the commencement of the new Outcome Period, each Fund will file a supplement to its prospectus that will include the actual Cap for the new Outcome Period, which may be higher or lower than the estimated Cap ranges set forth below. As of February 20, 2026, the expected range of each Fund's Cap is set forth below.
| Fund Name | Ticker | Estimated Cap Range |
| Innovator Growth-100 Power Buffer ETF™ - March | NMAR |
13.59% - 16.59% (12.80% - 15.80% after taking into account the Fund's unitary management fee) |
| Innovator International Developed Power Buffer ETF™ - March | IMAR |
10.70% - 15.70% (9.85% - 14.85% after taking into account the Fund's unitary management fee) |
| Innovator U.S. Equity Buffer ETF™ - March | BMAR |
15.16% - 16.66% (14.37% - 15.87% after taking into account the Fund's unitary management fee) |
| Innovator U.S. Equity Power Buffer ETF™ - March | PMAR |
11.27% - 12.77% (10.48% - 11.98% after taking into account the Fund's unitary management fee) |
| Innovator U.S. Small Cap Power Buffer ETF™ - March | KMAR |
15.63% - 18.63% (14.84% - 17.84% after taking into account the Fund's unitary management fee) |
Please Keep This Supplement With Your Prospectus For Future Reference
Innovator ETFs Trust published this content on February 20, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 20, 2026 at 22:13 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]