Which resets first, AIOO or BJAN?

AIOO ends its outcome period on Dec 31, 2026 and BJAN on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, AIOO or BJAN?

AIOO charges 0.64% a year and BJAN charges 0.79%, so AIOO is cheaper. Fees come from each fund's prospectus.

AIOO vs BJAN: which one stands where?

As of Oct 1, 2026 BJAN can fall 9.6% before its buffer engages and AIOO 0.0%. AllianzIM U.S. Equity Buffer100 ETF - Jan and Innovator U.S. Equity Buffer ETF - Jan.

0.0%

AIOO can fall this far before its buffer

9.6%

BJAN can fall this far before its buffer

uncapped

AIOO can still gain

5.3%

BJAN can still gain

AIOONo cap

AIOO: reference 0.0% since period start, fund 0.0%; buffer Floor; no cap; No cap.

BJANBetween buffer and cap

BJAN: reference +11.8% since period start, fund +9.9%; buffer 0 to −9; cap +16.5%; Between buffer and cap.

These are two different products. AIOO is a floor fund, which caps how far a holder can fall. BJAN is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

AIOO has no cap. It takes 30% of whatever the index does, where BJAN takes all of the rise up to 16.5% and nothing above it.

Where each one stands today

AIOO resets first, on Dec 31, 2026, 92 days from now; BJAN runs to Dec 31, 2026, 92 days. A fall from here reaches AIOO’s buffer after 0.0% and BJAN’s after 9.6%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’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

	Total return		Gap to the reference
Window	AIOO	BJAN	AIOO	BJAN
3 months	+0.4%	+2.9%	−2.1 pts	+0.4 pts
6 months	+2.9%	+12.6%	−14.1 pts	−4.4 pts
1 year	+3.6%	+14.2%	−12.1 pts	−1.5 pts
3 years	not published	+64.7%	not published	−20.2 pts

AIOO and BJAN over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

AIOO

AllianzIM U.S. Equity Buffer100 ETF - Jan · Absorbs the whole loss on SPY and does not cap the gain, over a period ending Dec 31, 2026

BJAN

Innovator U.S. Equity Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 16.5%, over a period ending Dec 31, 2026

Issuer AllianzIM Innovator

Reference index SPY SPY

Buffer 100% 9%

Outcome period Oct 1, 2026 to Dec 31, 2026 Dec 31, 2025 to Dec 31, 2026

Days left 92 92

Starting cap uncapped +16.5%

Can still gain uncapped 5.3%

Fall before buffer 0.0% 9.6%

Protection left, index points 100.0% of 100.0% 9.0% of 9.0%

Index return this period 0.0% +11.8%

Fund return this period 0.0% +9.9%

State today Uncapped Open

Expense ratio 0.64% 0.79%

Net assets $50m $349m

AIOO and BJAN on the same fields, as of Oct 1, 2026. Source: ETFIQ.

AIOO in plain words

This fund has no cap. It takes a share of any further rise in SPY. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

BJAN in plain words

From its price on Oct 1, 2026, the fund can gain about 5.3% more before it reaches its cap. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% 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.

Questions people ask

Which resets first, AIOO or BJAN?: AIOO ends its outcome period on Dec 31, 2026 and BJAN on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, AIOO or BJAN?: AIOO charges 0.64% a year and BJAN charges 0.79%, so AIOO is cheaper. Fees come from each fund's prospectus.

Other comparisons

AIOO vs FDEC AIOO vs FLJJ AIOO vs FSEP AIOO vs GDEC BJAN vs BJUL BJAN vs BOCT BJAN vs BSEP BJAN vs CPSD

SPDR® S&P 500® ETF Trust →AIOO on its own →BJAN on its own →How every figure is computed →Standards and sources →

Where these figures came from

AIOO filings on SEC EDGAR ↗AllianzIM page for AIOO ↗BJAN filings on SEC EDGAR ↗Innovator page for BJAN ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AIOO against BJAN, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/aioo-vs-bjan

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.