Data as of . Every figure is the buffer desk's own, on published data.
BJAN vs PNOV
Where each one stands today
PNOV resets first, on Oct 31, 2026, 57 days from now; BJAN runs to Dec 31, 2026, 118 days. BJAN can still gain 5.3% before its cap, PNOV 2.3%. A fall from here reaches BJAN’s buffer after 9.7% and PNOV’s after 9.7%. Both track SPY, so what separates them is where each is in its own period.
Every figure is the buffer desk’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| BJAN | PNOV | BJAN | PNOV | |
| 3 months | +4.0% | +3.8% | −0.7 pts | −0.9 pts |
| 6 months | +11.1% | +9.7% | −4.0 pts | −5.4 pts |
| 1 year | +16.2% | +12.1% | −3.8 pts | −7.9 pts |
| 3 years | +58.3% | +32.2% | −19.7 pts | −45.7 pts |
| BJAN Innovator U.S. Equity Buffer ETF - Jan | PNOV Innovator U.S. Equity Power Buffer ETF - Nov | |
|---|---|---|
| Issuer | Innovator | Innovator |
| Reference index | SPY | SPY |
| Buffer | ||
| Outcome period | Dec 31, 2025 to Dec 31, 2026 | Oct 31, 2025 to Oct 31, 2026 |
| Days left | 118 | 57 |
| Starting cap | +16.5% | +13.2% |
| Can still gain | 5.3% | 2.3% |
| Fall before buffer | 9.7% | 9.7% |
| Protection left, index points | 9.0% of 9.0% | 15.0% of 15.0% |
| Index return this period | +12.9% | +12.9% |
| Fund return this period | +10.1% | +10.0% |
| State today | Open | Open |
| Expense ratio | 0.79% | 0.79% |
BJAN in plain words
From its price on Sep 4, 2026, the fund can gain about 5.3% more before it reaches its cap. The fund's price can fall 9.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.5% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 118 days remained on Sep 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.
PNOV in plain words
From its price on Sep 4, 2026, the fund can gain about 2.3% more before it reaches its cap. The fund's price can fall 9.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.4% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 57 days remained on Sep 4, 2026. On Oct 31, 2026 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, BJAN or PNOV?
- From their prices on Sep 4, 2026, BJAN can gain about 5.3% before its cap and PNOV about 2.3%, so BJAN has more room left this period.
- Which resets first, BJAN or PNOV?
- BJAN ends its outcome period on Dec 31, 2026 and PNOV on Oct 31, 2026. A new cap is set the day after each.
- Which is cheaper, BJAN or PNOV?
- BJAN charges 0.79% a year and PNOV charges 0.79%, so BJAN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BJAN against PNOV, data as of Sep 4, 2026. https://etfiq.com/compare/buffer/BJAN-PNOV.html Free to use with attribution; the underlying files are at Open data.