Goldman Sachs has acquired Innovator ETFs for $2,000,000,000, significantly expanding its footprint in the exchange-traded fund market. This transaction sees Goldman Sachs buying the firm, known for its pioneering role in defined outcome investment products.
Innovator ETFs, established in 2017 by industry veterans Bruce Bond and John Southard, who previously founded the PowerShares ETF lineup, launched the world’s first Defined Outcome ETFs™ in August 2018. The company is dedicated to providing investment vehicles with built-in risk management, aiming to offer investors a high level of predictability around their investment outcomes. As of October 1, 2025, Innovator manages over $28 billion in assets across more than 150 ETFs, positioning it as the leading provider in the Defined Outcome ETF™ sector.
This acquisition is a strategic move for Goldman Sachs to bolster its asset management division and diversify its product offerings. Innovator’s specialized suite of ETFs, including Buffer ETFs™, Defined Income ETFs™, and Defined Protection ETFs™, complements Goldman Sachs' existing investment solutions by adding advanced risk-managed equity exposure. The integration is expected to create synergies by combining Innovator’s specialized product innovation with Goldman Sachs’ global distribution network and extensive client base.
The combined entity will aim to meet the increasing investor demand for sophisticated, outcome-oriented investment strategies. This union is positioned to offer a more comprehensive range of investment solutions to clients seeking both growth potential and downside protection in evolving market conditions.