Positioning Portfolios with Rising Recessionary Risks

For many advisors, a recession is quickly turning from a bear case scenario to a base case scenario.

During this webinar Sam Stovall, Chief Investment Strategist, CFRA, Aniket Ullal, Head of ETF Data & Analytics, CFRA and Tim Urbanowicz, CFA, Head of Institutional Strategy, Innovator ETFs learned how the Innovator Buffer ETFs™ can help investors stay fully invested in the market, to a cap, with built-in buffers against equity downside. Buffer ETFs™ can be a solution to address the challenges advisors face with client portfolios, particularly in the current market environment.

Speakers 

	Sam Stovall Chief Investment Strategist, CFRA As Chief Investment Strategist, Sam Stovall serves as analyst, publisher, and communicator of CFRA’s outlooks for the economy, market, and sectors.  He is the author of The Seven Rules of Wall Street and The S&P Guide to Sector Investing. He also writes weekly “Sector Watch” and “Investment Policy” reports on CFRA’s MarketScope Advisor platform, and maintains the Industry Momentum and Seasonal Rotation portfolios. His work is also found in CFRA’s flagship weekly newsletter The Outlook.
	Aniket Ullal Head, ETF Data & Analytics, CFRA Aniket Ullal heads CFRA’s Exchange Traded Fund (ETF) data and analytics business and has worked in the ETF industry since early in its development. He founded First Bridge, one of the industry’s leading ETF data sets that became acquired by CFRA in 2019. Previously, he was the product head for US index products at S&P Dow Jones Indices, which included responsibility for the widely tracked S&P 500 and S&P /Case-Shiller indices. In that role, he partnered with several global asset managers to successfully launch a wide range of index-linked ETFs. He is the author of ETF Investment Strategies (McGraw-Hill; 2013), a featured contributor for Nasdaq.com and his work is frequently cited in the financial press.
	Tim Urbanowicz, CFA Head of Institutional Strategy, Innovator ETFs Tim Urbanowicz, CFA is the Head of Institutional Strategy for Innovator Capital Management.  In his role, Tim is responsible for institutional research, investment strategy, and portfolio solutions.  Prior to joining Innovator, Tim was a Sr. Investment Strategist for Northern Trust, serving as a subject matter expert on global markets and portfolio construction. Prior to joining Northern Trust Tim served as the Director of Fixed Income ETFs and Head Capital Markets Strategist for Invesco.

For Financial Professionals Only.

The Defined Outcome ETFs seek to generate returns that match the Price Index, up to the Cap, while buffering against losses, before fees and expenses, over the course of a 3-month or 1-year period. The Defined Outcome Series Funds have characteristics unlike many other traditional investment products and may not be suitable for all investors. For more information regarding whether an investment in the Fund is right for you, please see "Investor Suitability" in the prospectus. There is no guarantee the fund will achieve its investment objective.

The Funds are designed to provide point-to-point exposure to the price return of an index via a basket of Flex Options. As a result, the ETFs are not expected to move directly in line with the index during the interim period. Additionally, FLEX Options may be less liquid than standard options. In a less liquid market for the FLEX Options, the Fund may have difficulty closing out certain FLEX Options positions at desired times and prices.

If the Outcome Period has begun and the Fund has experienced an Accelerated Return, an investor purchasing Shares at that price may be subject to losses that exceed any losses of the Underlying ETF for the remainder of the Outcome Period and may have diminished or no ability to experience further Accelerated Return, therefore exposing the investor to greater downside risks.

The Outcomes may only be realized by investors who continuously hold Shares from the commencement of the Outcome Period until its conclusion. Investors who purchase Shares after the Outcome Period has begun, or sell Shares prior to the Outcome Period’s conclusion, may experience investment returns very different from those that the Fund seeks to provide.

Fund shareholders are subject to an upside return cap (the Cap) that represents the maximum percentage return an investor can achieve from an investment in the funds' for the Outcome Period, before fees and expenses. If the Outcome Period has begun and the Fund has increased in value to a level near to the Cap, an investor purchasing at that price has little or no ability to achieve gains but remains vulnerable to downside risks. Additionally, the Cap may rise or fall from one Outcome Period to the next. The Cap, and the Fund's position relative to it, should be considered before investing in the Fund. The Funds' website, www.innovatoretfs.com, provides important Fund information as well information relating to the potential outcomes of an investment in a Fund on a daily basis.

The Funds only seek to provide shareholders that hold shares for the entire Outcome Period with their respective buffer level against index losses during the Outcome Period. You will bear all index losses exceeding 9, 15 or 30%. Depending upon market conditions at the time of purchase, a shareholder that purchases shares after the Outcome Period has begun may also lose their entire investment. For instance, if the Outcome Period has begun and the Fund has decreased in value beyond the pre-determined buffer, an investor purchasing shares at that price may not benefit from the buffer. Similarly, if the Outcome Period has begun and the Fund has increased in value, an investor purchasing shares at that price may not benefit from the buffer until the Fund's value has decreased to its value at the commencement of the Outcome Period.

The Funds' investment objectives, risks, charges and expenses should be considered carefully before investing. The prospectus contains this and other important information, and it may be obtained at innovatoretfs.com. Read it carefully before investing.

Innovator ETFs are distributed by Foreside Fund Services, LLC.
 

Some or all of the non-CFRA speakers in these materials have compensated CFRA for the production of and the right to participate in the discussions captured in these materials.  Apart from the production of these materials, CFRA may license certain intellectual property or provide services to, or otherwise have a business relationship with, certain issuers of funds or securities that are the subject of or that have participated in the production of these materials.   Irrespective of CFRA’s relationship with any participant in these materials, no part of CFRA’s compensation is tied to any particular CFRA recommendation or rating. The views expressed in these materials by non-CFRA participants do not necessarily reflect the views of CFRA.  CFRA makes no warranty or representation that these materials are accurate, timely or complete, and references to any investment, fund or security are not a recommendation to buy, sell, or hold such investment, fund or security. These materials are only for authorized recipients and may not be redistributed or reproduced without the express consent of CFRA. Additional information on the legal disclosures for these materials is available at https://cfraresearch.com/legal/.