Data as of . Every figure is the buffer desk's own, on published data.
PNOV vs UJUL
Where each one stands today
PNOV resets first, on Oct 31, 2026, 57 days from now; UJUL runs to Jun 30, 2027, 299 days. PNOV can still gain 2.3% before its cap, UJUL 11.9%. A fall from here reaches PNOV’s buffer after 9.7% and UJUL’s after 6.9%. 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 | ||
|---|---|---|---|---|
| PNOV | UJUL | PNOV | UJUL | |
| 3 months | +3.8% | +2.5% | −0.9 pts | −2.2 pts |
| 6 months | +9.7% | +7.1% | −5.4 pts | −8.0 pts |
| 1 year | +12.1% | +10.0% | −7.9 pts | −10.0 pts |
| 3 years | +32.2% | +42.9% | −45.7 pts | −35.1 pts |
| PNOV Innovator U.S. Equity Power Buffer ETF - Nov | UJUL Innovator U.S. Equity Ultra Buffer ETF - Jul | |
|---|---|---|
| Issuer | Innovator | Innovator |
| Reference index | SPY | SPY |
| Buffer | ||
| Outcome period | Oct 31, 2025 to Oct 31, 2026 | Jun 30, 2026 to Jun 30, 2027 |
| Days left | 57 | 299 |
| Starting cap | +13.2% | +14.2% |
| Can still gain | 2.3% | 11.9% |
| Fall before buffer | 9.7% | 6.9% |
| Protection left, index points | 15.0% of 15.0% | 30.0% of 30.0% |
| Index return this period | +12.9% | +3.1% |
| Fund return this period | +10.0% | +1.9% |
| State today | Open | Open |
| Expense ratio | 0.79% | 0.79% |
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.
UJUL in plain words
From its price on Sep 4, 2026, the fund can gain about 11.9% more before it reaches its cap. The fund's price can fall 6.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 7.9% 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. 299 days remained on Sep 4, 2026. On Jun 30, 2027 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, PNOV or UJUL?
- From their prices on Sep 4, 2026, PNOV can gain about 2.3% before its cap and UJUL about 11.9%, so UJUL has more room left this period.
- Which resets first, PNOV or UJUL?
- PNOV ends its outcome period on Oct 31, 2026 and UJUL on Jun 30, 2027. A new cap is set the day after each.
- Which is cheaper, PNOV or UJUL?
- PNOV charges 0.79% a year and UJUL charges 0.79%, so PNOV 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, PNOV against UJUL, data as of Sep 4, 2026. https://etfiq.com/compare/buffer/PNOV-UJUL.html Free to use with attribution; the underlying files are at Open data.