Prospectus by Investment Company - Form 497

Rule 497(e)

File No. 333-146827

Innovator ETFs Trust

(the "Trust")

Innovator Growth Accelerated Plus ETFÔ- October

Innovator U.S. Equity Accelerated 9 Buffer ETFÔ- October

Innovator U.S. Equity Accelerated ETFÔ- October

Innovator U.S. Equity Accelerated Plus ETFÔ- October

(each, a "Fund" and together, the "Funds")

Supplement To each Fund's Prospectus
Dated February 27, 2024

September 23, 2024

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 September 30, 2024, and each Fund will commence a new Outcome Period that will begin on October 1, 2024 and end on September 30, 2025. Each Fund's Cap will not be determined until the start of the new Outcome Period on October 1, 2024. A supplement to each Fund's prospectus will be filed on September 30, 2024 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 September 23, 2024, the expected range of each Fund's Cap is set forth below.

Fund Name	Ticker	Estimated Cap Range
Innovator Growth Accelerated Plus ETFÔ - October	QTOC	19.11% - 21.44% (18.32% - 20.65% after taking into account the Fund's unitary management fee)
Innovator U.S. Equity Accelerated 9 Buffer ETFÔ - October	XBOC	11.44% - 11.94% (10.65% - 11.15% after taking into account the Fund's unitary management fee)
Innovator U.S. Equity Accelerated ETFÔ - October	XDOC	15.52% - 16.48% (14.73% - 15.69% after taking into account the Fund's unitary management fee)
Innovator U.S. Equity Accelerated Plus ETFÔ - October	XTOC	14.40% - 15.37% (13.61% - 14.58% after taking into account the Fund's unitary management fee)

Please Keep This Supplement With Your Prospectus For Future Reference

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