The Innovator U.S. Equity Buffer ETF (BFEB) is designed to replicate the performance of the SPDR S&P 500 ETF Trust (SPY), albeit with returns capped at a predefined limit. Concurrently, it offers investors protection by absorbing the first 9% of any losses experienced during a specific outcome period. This ETF is suitable for long-term investment, as its buffer and cap parameters are recalibrated approximately once a year.