Before investing in buffer ETFs, it's important to understand the risks and potential returns.

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

Innovator ETFs CEO Bruce Bond sees potential in buffer exchange-traded funds to provide market protection.

Bond stated on CNBC's "ETF Edge" on Wednesday that this strategy is suitable for individuals who want to gain market exposure but are not willing to take on the full risk of the market.

ETFs that are innovative issue monthly buffer ETFs. Their August ETF, under the ticker PAUG, provides 15% downside protection.

"Bond stated that if someone wants to invest in the S&P 500, they can easily do so and will have 15% protection against downside losses and 12.8% potential gains on the upside."

Until the end of the year, Bond suggests that investors hold these ETFs, as they are built on one-year options within the portfolio.

"Bond stated that at the conclusion of the year, the options are fully valued, and then they are reset for the next year."

Mark Higgins, an advisor at Index Fund Advisors, expressed his doubts about the effectiveness of buffer ETFs in managing market volatility.

"The senior vice president at Index Fund Advisors expressed concern that many investors are investing in expensive solutions to solve simple problems, and they need to become more comfortable with market volatility."

Higgins suggests that the cheapest way to handle uncertainty in the markets is to avoid frequently checking your portfolio and to consult with your advisor before making any sudden decisions out of fear or surprise.

Higgins stated that financial advisors who perform their duties can offer tranquility.