Data as of Nov 4, 2026.

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Buffer ETFs

AJAN vs SIXJ: Cap, Buffer & Days Left

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As of Nov 4, 2026 AJAN can fall 4.0% before its buffer engages and SIXJ 3.0%, and SIXJ resets 365 days sooner.

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Net assets: $43m on Nov 4, 2026 for Innovator Equity Defined Protection ETF - Jan 2028, and $148m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Jan.

At a glance
4.0%
AJAN can fall this far before its buffer
3.0%
SIXJ can fall this far before its buffer
8.8%
AJAN can still gain
5.0%
SIXJ can still gain
AJAN Full floor
Full floorAJAN: reference +12.4% since period start, fund +3.5%; buffer Floor; cap +13.3%; Full floor. Data to Nov 4, 2026.full floor beneath+12.4% gain capturedfull floor0% period start+13.3% cap+0.9% more to the capTODAY · SPY +12.4%Full floorAJAN: reference +12.4% since period start, fund +3.5%; buffer Floor; cap +13.3%; Full floor. Data to Nov 4, 2026.full floor beneath+12.4%full floor0% start+13.3% cap+0.9% more to the capTODAY · SPY +12.4%

AJAN: reference +12.4% since period start, fund +3.5%; buffer Floor; cap +13.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.
SIXJ Between buffer and cap
Between buffer and capSIXJ: reference +2.7% since period start, fund +2.7%; buffer 0 to −10; cap +8.2%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer−10.0% floor0% period start+8.2% cap+2.7% gain captured+5.5% more to the capTODAY · SPY +2.7%Between buffer and capSIXJ: reference +2.7% since period start, fund +2.7%; buffer 0 to −10; cap +8.2%; Between buffer and cap. Data to Nov 4, 2026.−10.0% floor0% start+8.2% cap10 pts of buffer+2.7% gain captured+5.5% more to the capTODAY · SPY +2.7%

SIXJ: reference +2.7% since period start, fund +2.7%; buffer 0 to −10; cap +8.2%; Between buffer and cap. Data to Nov 4, 2026.

SIXJ: reference +2.7% since period start, fund +2.7%; buffer 0 to −10; cap +8.2%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

SIXJ costs 0.05 points a year less; their one-year returns differ by 7.4 points; SIXJ is 3.5 times larger.

Points (pts) are percentage points.

AJAN vs SIXJ: Cap, Buffer & Days Left
MeasureAJANSIXJ
Return
Total return, 1 year+4.3%+11.7%
Drawdown
Index fall to the buffer11.0%2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.74%
Net assets, as of Nov 3, 2026$42m$148m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: AJAN vs SIXJ: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowAJANSIXJAJANSIXJ
3 months+0.8%+0.8%+1.2 pts+1.2 pts
6 months+1.6%+4.7%−2.9 pts+0.2 pts
1 year+4.3%+11.7%−9.3 pts−1.8 pts
3 years–+51.3%–−25.1 pts
Since launchNot the same days: AJAN Jan 2024 · SIXJ Jan 2022+18.3%+48.9%−44.0 pts−11.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

AJAN Innovator Equity Defined Protection ETF - Jan 2028 · Absorbs the whole loss on SPY and caps the gain at 13.3%, over a period ending Dec 31, 2027 SIXJ AllianzIM U.S. Equity Buffer10 ETF - Jan · Absorbs the first 10% of loss on SPY and caps the gain at 8.2%, over a period ending Dec 31, 2026
Reference index SPY SPY
Buffer 100% 10%
Outcome period Dec 31, 2025 to Dec 31, 2027 Jul 1, 2026 to Dec 31, 2026
Days left 422 57
Starting cap +13.3% +8.2%
Can still gain 8.8% 5.0%
Fall before buffer 4.0% 3.0%
Protection left, index points 100.0% of 100.0% 10.0% of 10.0%
Index return this period +12.4% +2.7%
Fund return this period +3.5% +2.7%
State today Open Open
Expense ratio 0.79% 0.74%
Net assets, AJAN as of Nov 4, 2026 and SIXJ as of Nov 3, 2026 $43m $148m

As of Nov 4, 2026. Source: ETFIQ.

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

They do not reset together. SIXJ has 57 days of its period left and AJAN has 422, so the two are not the same bet on the same months.

Where each one stands today

SIXJ resets first, on Dec 31, 2026, 57 days from now; AJAN runs to Dec 31, 2027, 422 days. AJAN can still gain 8.8% before its cap, SIXJ 5.0%. A fall from here reaches AJAN’s buffer after 4.0% and SIXJ’s after 3.0%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
AJAN

From its price on Nov 4, 2026, the fund can gain about 8.8% more before it reaches its cap. The fund's price can fall 4.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.0% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 422 days remained on Nov 4, 2026. On Dec 31, 2027 the period ends and a new cap is set.

SIXJ

From its price on Nov 4, 2026, the fund can gain about 5.0% more before it reaches its cap. The fund's price can fall 3.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% 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. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, AJAN or SIXJ?
From their prices on Nov 4, 2026, AJAN can gain about 8.8% before its cap and SIXJ about 5.0%, so AJAN has more room left this period.
Which resets first, AJAN or SIXJ?
AJAN ends its outcome period on Dec 31, 2027 and SIXJ on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, AJAN or SIXJ?
AJAN charges 0.79% a year and SIXJ charges 0.74%, so SIXJ is cheaper. Fees come from each fund's prospectus.
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, AJAN against SIXJ, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ajan-vs-sixj

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