The Fund is an actively managed exchange-traded fund (ETF) that seeks to provide risk-managed investment exposure to the common share price of Tesla Inc. (NASDAQ: TSLA) (TSLA) through an active hedging strategy. The Fund seeks to achieve its investment objective by investing the Funds net assets (including borrowings for investment purposes) in options contracts that reference TSLA (the Options Portfolio) and in U.S. Treasury Bills (the Treasury Portfolio). The Fund's investment adviser is Innovator Capital Management LLC (Innovator or the Adviser) and the Fund's investment sub-adviser is Milliman Financial Risk Management LLC (Milliman or the Sub-Adviser). As discussed in greater detail below the Fund seeks to provide investment exposure to the price performance experienced by TSLA while seeking to limit significant losses against decreases in the price of TSLA (the Floor). There is no guarantee the Fund will be successful in implementing this strategy. The Fund does not invest directly in TSLA.