Data as of . Every figure is the buffer desk's own, on published data.
FJUL vs UJAN
Where each one stands today
UJAN resets first, on Dec 31, 2026, 118 days from now; FJUL runs to Jul 16, 2027, 315 days. FJUL can still gain 13.0% before its cap, UJAN 3.4%. A fall from here reaches FJUL’s buffer after 3.4% and UJAN’s after 11.9%. 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 | ||
|---|---|---|---|---|
| FJUL | UJAN | FJUL | UJAN | |
| 3 months | +4.2% | +3.0% | −0.5 pts | −1.7 pts |
| 6 months | +10.3% | +7.5% | −4.9 pts | −7.6 pts |
| 1 year | +14.1% | +11.5% | −5.9 pts | −8.5 pts |
| 3 years | +55.0% | +39.9% | −23.0 pts | −38.1 pts |
| FJUL FT Vest U.S. Equity Buffer ETF - July | UJAN Innovator U.S. Equity Ultra Buffer ETF - Jan | |
|---|---|---|
| Issuer | First Trust | Innovator |
| Reference index | SPY | SPY |
| Buffer | ||
| Outcome period | Jul 20, 2026 to Jul 16, 2027 | Dec 31, 2025 to Dec 31, 2026 |
| Days left | 315 | 118 |
| Starting cap | +16.8% | +11.4% |
| Can still gain | 13.0% | 3.4% |
| Fall before buffer | 3.4% | 11.9% |
| Protection left, index points | 10.0% of 10.0% | 30.0% of 30.0% |
| Index return this period | +3.6% | +12.9% |
| Fund return this period | +2.6% | +7.2% |
| State today | Open | At cap |
| Expense ratio | 0.85% | 0.79% |
FJUL in plain words
From its price on Sep 4, 2026, the fund can gain about 13.0% more before it reaches its cap. The fund's price can fall 3.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.5% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 315 days remained on Sep 4, 2026. On Jul 16, 2027 the period ends and a new cap is set.
UJAN in plain words
SPY had already risen past this fund's cap of +11.4% for the period on Sep 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.4% as the period runs out. The fund's price can fall 11.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.9% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% 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.
Questions people ask
- Which has more room to gain, FJUL or UJAN?
- From their prices on Sep 4, 2026, FJUL can gain about 13.0% before its cap and UJAN about 3.4%, so FJUL has more room left this period.
- Which resets first, FJUL or UJAN?
- FJUL ends its outcome period on Jul 16, 2027 and UJAN on Dec 31, 2026. A new cap is set the day after each.
- Which is cheaper, FJUL or UJAN?
- FJUL charges 0.85% a year and UJAN charges 0.79%, so UJAN 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, FJUL against UJAN, data as of Sep 4, 2026. https://etfiq.com/compare/buffer/FJUL-UJAN.html Free to use with attribution; the underlying files are at Open data.