Data as of . Every figure is the buffer desk's own, on published data.
UJAN vs UJUL
Where each one stands today
UJAN resets first, on Dec 31, 2026, 118 days from now; UJUL runs to Jun 30, 2027, 299 days. UJAN can still gain 3.4% before its cap, UJUL 11.9%. A fall from here reaches UJAN’s buffer after 11.9% 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 | ||
|---|---|---|---|---|
| UJAN | UJUL | UJAN | UJUL | |
| 3 months | +3.0% | +2.5% | −1.7 pts | −2.2 pts |
| 6 months | +7.5% | +7.1% | −7.6 pts | −8.0 pts |
| 1 year | +11.5% | +10.0% | −8.5 pts | −10.0 pts |
| 3 years | +39.9% | +42.9% | −38.1 pts | −35.1 pts |
| UJAN Innovator U.S. Equity Ultra Buffer ETF - Jan | UJUL Innovator U.S. Equity Ultra Buffer ETF - Jul | |
|---|---|---|
| Issuer | Innovator | Innovator |
| Reference index | SPY | SPY |
| Buffer | ||
| Outcome period | Dec 31, 2025 to Dec 31, 2026 | Jun 30, 2026 to Jun 30, 2027 |
| Days left | 118 | 299 |
| Starting cap | +11.4% | +14.2% |
| Can still gain | 3.4% | 11.9% |
| Fall before buffer | 11.9% | 6.9% |
| Protection left, index points | 30.0% of 30.0% | 30.0% of 30.0% |
| Index return this period | +12.9% | +3.1% |
| Fund return this period | +7.2% | +1.9% |
| State today | At cap | Open |
| Expense ratio | 0.79% | 0.79% |
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.
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, UJAN or UJUL?
- From their prices on Sep 4, 2026, UJAN can gain about 3.4% before its cap and UJUL about 11.9%, so UJUL has more room left this period.
- Which resets first, UJAN or UJUL?
- UJAN ends its outcome period on Dec 31, 2026 and UJUL on Jun 30, 2027. A new cap is set the day after each.
- Which is cheaper, UJAN or UJUL?
- UJAN charges 0.79% a year and UJUL 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, UJAN against UJUL, data as of Sep 4, 2026. https://etfiq.com/compare/buffer/UJAN-UJUL.html Free to use with attribution; the underlying files are at Open data.