Which has more room to gain, AJUL or DDFL?

From their prices on Nov 4, 2026, AJUL can gain about 16.4% before its cap and DDFL about 7.8%, so AJUL has more room left this period.

Which resets first, AJUL or DDFL?

AJUL ends its outcome period on Jun 30, 2028 and DDFL on Jun 30, 2027. A new cap is set the day after each.

Which is cheaper, AJUL or DDFL?

AJUL and DDFL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

AJUL vs DDFL: Cap, Buffer & Days Left

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As of Nov 4, 2026 DDFL can fall 2.8% before its buffer engages and AJUL 1.6%, and DDFL resets 366 days sooner.

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Net assets on Nov 4, 2026: $99m for Innovator Equity Defined Protection ETF - Jul 2028 and $160m for Innovator Equity Dual Directional 15 Buffer ETF - Jul.

AJUL on its own →DDFL on its own →

At a glance

1.6%

AJUL can fall this far before its buffer

2.8%

DDFL can fall this far before its buffer

16.4%

AJUL can still gain

7.8%

DDFL can still gain

AJUL Full floor

AJUL: reference +2.6% since period start, fund +1.4%; buffer Floor; cap +18.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

DDFL Between buffer and cap

DDFL: reference +2.6% since period start, fund +2.6%; buffer 0 to −15; cap +10.9%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 1.3 points; DDFL is 1.6 times larger.

Points (pts) are percentage points.

AJUL vs DDFL: Cap, Buffer & Days Left
Measure	AJUL	DDFL
Return
Measure	AJUL	DDFL
Total return, 1 year	+6.0%	+7.3%
Drawdown
Measure	AJUL	DDFL
Index fall to the buffer	2.6%
Benchmark
Measure	AJUL	DDFL
What it tracks	SPY	SPY
Cost and size
Measure	AJUL	DDFL
Expense ratio	0.79%	0.79%
Net assets	$99m	$160m
Holdings
Measure	AJUL	DDFL
Holdings in common	not published

Method

Window by window

Window by window: AJUL vs DDFL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AJUL	DDFL	AJUL	DDFL
3 months	+0.2%	+1.1%	+0.6 pts	+1.5 pts
6 months	+2.0%	+3.5%	−2.4 pts	−1.0 pts
1 year	+6.0%	+7.3%	−7.5 pts	−6.2 pts
Since launchNot the same days: AJUL Jul 2024 · DDFL Jul 2025	+17.7%	+10.8%	−22.9 pts	−13.3 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

AJUL Innovator Equity Defined Protection ETF - Jul 2028 · Absorbs the whole loss on SPY and caps the gain at 18.3%, over a period ending Jun 30, 2028 DDFL Innovator Equity Dual Directional 15 Buffer ETF - Jul · Absorbs the first 15% of loss on SPY and caps the gain at 10.9%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 100% 15%

Outcome period Jun 30, 2026 to Jun 30, 2028 Jun 30, 2026 to Jun 30, 2027

Days left 604 238

Starting cap +18.3% +10.9%

Can still gain 16.4% 7.8%

Fall before buffer 1.6% 2.8%

Protection left, index points 100.0% of 100.0% 15.0% of 15.0%

Index return this period +2.6% +2.6%

Fund return this period +1.4% +2.6%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $99m $160m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. AJUL is a floor fund, which caps how far a holder can fall. DDFL 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. DDFL has 238 days of its period left and AJUL has 604, so the two are not the same bet on the same months.

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

DDFL resets first, on Jun 30, 2027, 238 days from now; AJUL runs to Jun 30, 2028, 604 days. AJUL can still gain 16.4% before its cap, DDFL 7.8%. A fall from here reaches AJUL’s buffer after 1.6% and DDFL’s after 2.8%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

AJUL

From its price on Nov 4, 2026, the fund can gain about 16.4% more before it reaches its cap. The fund's price can fall 1.6% 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: 100.0% of the 100.0% buffer still sits below today's SPY level. 604 days remained on Nov 4, 2026. On Jun 30, 2028 the period ends and a new cap is set.

DDFL

From its price on Nov 4, 2026, the fund can gain about 7.8% more before it reaches its cap. The fund's price can fall 2.8% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 238 days remained on Nov 4, 2026. On Jun 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, AJUL or DDFL?: From their prices on Nov 4, 2026, AJUL can gain about 16.4% before its cap and DDFL about 7.8%, so AJUL has more room left this period.
Which resets first, AJUL or DDFL?: AJUL ends its outcome period on Jun 30, 2028 and DDFL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, AJUL or DDFL?: AJUL and DDFL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

AJUL vs XJUN AJUL vs ZJUL AJUL vs TJUL AJUL vs JULW DDFL vs DDTL DDFL vs TJUL DDFL vs JULU DDFL vs XBJL

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →AJUL on its own →DDFL on its own →Method →Standards and sources →

Sources and dates

Innovator page for AJUL ↗

DDFL filings on SEC EDGAR ↗

Innovator page for DDFL ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, AJUL against DDFL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ajul-vs-ddfl

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.