"This [strategy] fits a group of people that are interested in getting exposure to the market, but not taking the full risk of the market," Bond told CNBC's "ETF Edge" on Wednesday.

Bruce Bond, CEO of Innovator ETFs, sees an opportunity in buffer exchange-traded funds to offer some protection from the market's downside.

Investors may want to consider buffer ETFs to hedge the recent market volatility.

"If someone wants to invest in the S&P 500, they can get right in and do that," Bond said. "They have 15% protection on the downside, and they have 12.8% opportunity on the upside."

Bond recommends investors hold these ETFs until the end of the year, as the funds are constructed around one-year options within the portfolio.

"At the end of the year, the options are fully valued, and then we reset it for a following year," Bond said. "Next August, they would fully value, then we would reset it for another year."

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