Blue Buffalo Pet Products Inc. [BUFF]

BUFF is a collection of buffer ETFs in one ticket. The fund seeks to offer investors a passively managed fund-of-funds portfolio that invests equally across the issuers own, monthly S&P 500 Power Buffer ETFs. Each underlying ETF uses FLEX options in an effort to provide a buffer against the first 15% of losses in the SPDR S&P 500 ETF and capped upside performance over a one-year holding period. The fund's laddered approach allows each ETF to conclude its one-year outcome period and then roll to a new outcome period. Thus, resetting both buffer and cap level for another twelve months and helping to mitigate timing risks associated with the strategy. In addition, the portfolio is rebalanced semi-annually to equal weighting. It is important to note though that the fund itself does not pursue a defined outcome strategy. Prior to Feb. 9, 2022, the fund name was Innovator Fund of US Equity Power Buffer ETF. Prior to August 11, 2020, the fund traded as Innovator Lunt Low Vol/High Beta Tactical ETF under ticker: LVHB and tracked Lunt Capital U.S. Large Cap Equity Rotation Index.