TFJL — Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly

TFJL Fund Overview

TFJL — Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly is a US ETF managed by Innovator ETFs Trust, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: Innovator ETFs Trust
• Category: Alternative
• Assets under management: $7.06M
• 1-year return: -4.9%
• Ticker: TFJL
• SEC CIK: 0001415726
• SEC series ID: S000068658
• Share class ID: C000219606

TFJL Investment Objective and Strategy

Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Innovator ETFs Trust.

Investment objective

The Fund seeks to provide investors with returns that match the return of the Underlying ETF (prior to taking into account management fees and other fees) up to the upside cap of 26.81% while providing a maximum loss of 5% (prior to taking into account management fees and other fees) of Underlying ETF losses, over the period from April 1, 2026 through June 30, 2026.

Principal investment strategy

General Strategy Description. Due to the unique mechanics of the Funds strategy, the return an investor can expect to receive from an investment in the Fund has characteristics that are distinct from many other investment vehicles. It is important that an investor understand these characteristics before making an investment in the Fund. The Fund has adopted a policy pursuant to Rule 35d -1 under the 1940 Act to invest, under normal circumstances, at least 80% of its net assets (plus any borrowings for investment purposes) in investments that provide exposure to the iShares 20+ Year Treasury Bond ETF. The Funds strategy has been specifically designed to produce the Outcomes described below based upon the performance of the Underlying ETF over the duration of the Outcome Period. The Fund seeks replicate the performance of the Underlying ETF over the duration of the Outcome Period, subject to the below pre -determined Outcomes.

There is no guarantee that the Fund will be successful in its attempt to provide the Outcomes for an Outcome Period. Upside Cap. Fund shareholders are subject to the Cap, which represents the maximum percentage return an investor can achieve from an investment in the Fund over the duration of the Outcome Period. The Cap is set on the first day of the Outcome Period and is 26.81% prior to taking into account any fees or expenses charged to shareholders. When the Funds annual Fund management fee of 0.79% of the Funds average daily net assets is taken into account for the Outcome Period, the Cap is 26.61%. Floor. The Fund seeks to provide shareholders that hold Shares for the entire Outcome Period with a decrease in value that approximately matches the decrease experienced by the Underlying ETF, with a maximum loss ( i.e.

, the Floor) of 5% during the Outcome Period. The Funds shareholders will experience all Underlying ETF losses of less than 5% on a one -to-one basis. When the Funds annual management fee of 0.79% of the Funds daily net assets is taken into account, the net Floor for the Outcome Period is approximately 5.20%. To produce the Outcomes, the Fund invests in FLEX Options that reference the Underlying ETF and may also invest in the Underlying ETF (or the components thereof) directly. The Underlying ETF is an ETF that seeks to provide investment results that, before fees expenses, correspond generally to the total return performance of an index composed of U.S. Treasury bonds with remaining maturities greater than twenty years. For additional information regarding the Underlying ETF, see Additional Information Regarding the Funds Principal Investment Strategies.

The hypothetical graphical illustration provided below is designed to illustrate the Outcomes that the Fund seeks to provide for investors who hold Shares for the entirety of the Outcome Period. The returns that the Fund seeks to provide do not include the costs associated with purchasing Shares and certain expenses incurred by the Fund. The following table contains hypothetical examples designed to illustrate the Outcomes the Fund seeks to provide over an Outcome Period, based upon the performance of the Underlying ETF from -100 % to 100%. The table is provided for illustrative purposes and does not provide every possible performance scenario for Shares over the course of an Outcome Period. The table is not intended to predict or project the performance of the Fund or its holdings. Fund shareholders should not take this information as an assurance of the expected performance of the Underlying ETF or return on Shares.

The actual overall performance of the Fund will vary with fluctuations in the value of its assets during the Outcome Period, among other factors. Please refer to the Funds website, www.innovatoretfs.com/tfjl , which provides updated information relating to this table on a daily basis throughout the Outcome Period. Underlying ETF Performance Fund Performance* 100% 26.81% 50% 26.81% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% (5)% (5)% (10)% (5)% (15)% (5)% (20)% (5)% (50)% (5)% (100)% (5)% * The Funds returns listed herein are provided prior to taking into account any fees or expenses charged to shareholders. The Funds annual management fee of 0.79% of the Funds average daily net assets, any shareholder transaction fees, any acquired fund fees and expenses, and any extraordinary expenses incurred by the Fund will have the effect of reducing the returns listed herein.

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 Periods conclusion may experience investment returns that are very different from those that the Fund seeks to provide . In addition, because the Fund is designed to achieve Outcomes that change for each three -month Outcome Period, the Outcomes that are achieved by the Fund for a three -month Outcome Period will be different than the Outcomes achieved by the Fund over multiple Outcome Periods, or on an annualized basis. Similarly, investors holding Shares over multiple Outcome Periods will experience different investment results than holding a fund that has a longer Outcome Period ( e.g.

, one year). Upon conclusion of the Outcome Period, the Fund will receive the cash value of all the FLEX Options it held for the prior Outcome Period. It will then invest in a new series of FLEX Options with an expiration date of approximately three months in the future, and a new Outcome Period will begin. The Outcomes the Fund seeks to provide and discussed herein are provided based on the Funds NAV, whereas shareholders purchase or sell Shares on the Exchange at market prices. Any disconnect between the Funds NAV and market prices of Shares will result in returns that deviate from the Outcomes the Fund seeks to provide. The Funds investment adviser is Innovator Capital Management, LLC ( Innovator or the Adviser ) and the Funds investment sub -adviser is Milliman Financial Risk Management LLC ( Milliman or the Sub -Adviser ).

The Fund is classified as a non -diversified company under the Investment Company Act of 1940, as amended (the 1940 Act ). The Outcome Period. The Outcome Period is an approximately three -month period. The current Outcome Period is from April 1, 2026 through June 30, 2026. The Funds sought -after Outcomes are designed to be provided at the conclusion of the Outcome Period, and are based upon the Funds NAV at the outset of the Outcome Period. Each FLEX Options value is ultimately derived from the performance of the Underlying ETF during that time. Because the terms of the FLEX Options dont change, the Cap and Floor both relate to the Funds NAV on the first day of the Outcome Period. Further, since the Funds option contracts are exercisable at the conclusion of the Outcome Period, the Outcomes are only provided at the end of the Outcome Period.

Therefore, to achieve the Outcomes sought by the Fund for the Outcome Period, an investor must hold Shares from the commencement of the Outcome Period through its conclusion. There is no guarantee that the Fund will be successful in its attempt to provide the Outcomes. The Funds NAV is based upon the value of its portfolio which consists of FLEX Options, and may also include shares of the Underlying ETF (or the components thereof). Although the value of the Underlying ETFs share price is a significant component of the value of the Funds FLEX Options, the value of the Funds FLEX Options (and therefore, the Funds NAV) will not increase or decrease at the same rate as the Underlying ETFs share price on a daily basis. The time remaining until those FLEX Options expire, which is at the conclusion of the Outcome Period, also affects their value.

The Sub -Adviser generally anticipates that the Funds NAV will increase on days when the Underlying ETFs share price increases and will decrease on days when the Underlying ETFs share price decreases, but that the rate of such increase or decrease will be less than that experienced by the Underlying ETF. For additional information regarding the Outcome Period, including the potential impacts of purchasing and selling intra -Outcome Period, see Additional Information Regarding the Funds Principal Investment Strategies. Cap on Potential Upside Returns. Unlike other investment products, the potential upside returns an investor can receive from an investment in the Fund over the Outcome Period is subject to the Cap. The Cap represents the maximum percentage return an investor can achieve from an investment in the Fund over the duration of the Outcome Period.

Therefore, even though the Funds returns are based upon the performance of the Underlying ETF, if the Underlying ETF experiences returns for the Outcome Period in excess of the Cap, the Fund will not participate in such excess returns. The Cap is determined on the first day of the Outcome Period and is 26.81% prior to taking into account any fees or expenses charged to shareholders. When the Funds annual Fund management fee of 0.79% of the Funds average daily net assets is taken into account for the Outcome Period, the Cap is 26.61%. The Cap will be further reduced by any shareholder transaction fees, any acquired fund fees and expenses, and any extraordinary expenses incurred by the Fund. The Cap will change from one Outcome Period to the next based upon prevailing market conditions at the beginning of the Outcome Period.

Information regarding the Cap is also set forth on the Funds website at www.innovatoretfs.com/tfjl. Floor. The Fund seeks to provide shareholders who hold Shares for the entire Outcome Period with the Floor, representing the maximum amount of loss experienced by the Underlying ETF ( i.e. , losses of 5%) that the Fund will participate in. However, there is no guarantee that the Fund will be successful in its attempt to provide the Floor. The Fund will experience all Underlying ETF losses of less than 5% on a one -to-one basis. The effect sought to be created by the Floor is that if the Underlying ETFs share price has decreased by less than 5%, the Fund will experience the entirety of such losses, however if the Underlying ETFs share price has decreased by more than 5% over the Outcome Period, the Fund seeks to limit its losses to 5%.

A shareholder may lose their entire investment. While the Fund seeks to limit losses to 5% for shareholders who hold Shares for the entire Outcome Period, there is no guarantee it will successfully do so. An investment in the Fund is only appropriate for shareholders willing to bear those losses. The Floor is provided prior to taking into account annual Fund management fees, transaction fees, any acquired fund fees and expenses, and any extraordinary expenses incurred by the Fund. These fees and any expenses will have the effect of reducing the Floor amount for Fund shareholders for an Outcome Period. When the Funds annual management fee equal to 0.79% of the Funds daily net assets is taken into account for the Outcome Period, the net Floor for an Outcome Period is approximately 5.20%. Since the Funds strategy is designed to produce the Outcomes on the last day of the Outcome Period, it should not be expected that the Floor, including the net effect of the Funds annual management fee on the Floor, will be provided at any point prior to the last day of the Outcome Period.

The Funds Portfolio. The Fund invests in FLEX Options that reference the Underlying ETF and may also invest directly in shares of the Underlying ETF (or the components thereof). In general, an option contract is an agreement between a buyer and seller that gives the purchaser of the option the right to buy or sell a particular asset at a specified future date at an agreed upon price. FLEX Options are exchange -traded option contracts with uniquely customizable terms.

TFJL Holdings

Top 1 holdings of Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly by percentage of net assets, from the fund's latest SEC N-PORT filing.

View all TFJL holdings

TFJL Portfolio Allocation

Asset-class allocation of Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly by percentage of net assets, from the latest SEC N-PORT filing.

TFJL Performance

Total returns for TFJL (as of 2026-10-01), from SEC filings.

TFJL Risk Information

Risk metrics for TFJL, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 8.7%

TFJL Costs and Fees

TFJL costs about $79 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.79%
• Gross expense ratio: 0.79%
• Portfolio turnover: 0%
• Brokerage commissions: 18.91 bps of average net assets (SEC N-CEN)

TFJL Cashflows

Over the 12 months to 2026-07, Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly had net inflows of $22.23K, from monthly SEC N-PORT filings.

TFJL Debt Constituents

No individual debt constituents are reported in Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly's latest SEC N-PORT filing.

TFJL Prospectus and SEC Filings

Official Innovator 20+ Year Treasury Bond 5 Floor ETF - Quarterly filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus supplement (497) — filed 2026-04-01
• Prospectus supplement (497) — filed 2025-10-01
• Prospectus supplement (497) — filed 2025-04-01
• Portfolio holdings (N-PORT) — filed 2026-09-28
• Portfolio holdings (N-PORT) — filed 2026-06-26
• Portfolio holdings (N-PORT) — filed 2026-03-27
• Annual census (N-CEN) — filed 2026-01-13
• Annual census (N-CEN) — filed 2025-01-15

Related Funds

Other Alternative funds tracked on ABC INVEST:

• iShares 0-3 Month Treasury Bond ETF (SGOV)
• Vanguard Short-Term Inflation-Protected Securities Index Fund (VTAPX)
• SPDR® Bloomberg Barclays 1-3 Month T-Bill ETF (BIL)
• Vanguard Inflation-Protected Securities Fund (VIPSX)
• iShares 0-1 Year Treasury Bond ETF (SHV)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.