AJUL vs TJUL: Cap, Buffer & Days Left
As of Oct 9, 2026 TJUL can fall 7.9% before its buffer engages and AJUL 1.6%, and TJUL resets 366 days sooner. Net assets on Oct 9, 2026: $98m for Innovator Equity Defined Protection ETF - Jul 2028 and $115m for Innovator Equity Defined Protection ETF - Jul 2027.
Both cost 0.79% a year; their one-year returns differ by 1.4 points; TJUL is 1.2 times larger.
| AJUL | TJUL | |
|---|---|---|
| Expense ratio | 0.79% | 0.79% |
| Net assets | $98m | $115m |
| Total return, 1 year | +6.2% | +4.8% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 4.1% | 20.6% |
AJUL: reference +4.3% since period start, fund +1.4%; buffer Floor; cap +18.3%; Full floor. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
TJUL: reference +26.0% since period start, fund +7.4%; buffer Floor; cap +13.6%; At its cap. Figures to Oct 9, 2026.
Figures to Oct 9, 2026.
TJUL is already at its cap, so more rise in the index adds nothing to it before the period ends.
They do not reset together. TJUL has 264 days of its period left and AJUL has 630, 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
TJUL resets first, on Jun 30, 2027, 264 days from now; AJUL runs to Jun 30, 2028, 630 days. AJUL can still gain 16.5% before its cap, TJUL 4.8%. A fall from here reaches AJUL’s buffer after 1.6% and TJUL’s after 7.9%. Both track SPY, so what separates them is where each is in its own period.
Performance, window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | AJUL | TJUL | AJUL | TJUL |
| 3 months | +1.1% | +1.6% | −2.0 pts | −1.6 pts |
| 6 months | +3.4% | +3.5% | −11.2 pts | −11.0 pts |
| 1 year | +6.2% | +4.8% | −9.8 pts | −11.2 pts |
| 3 years | not published | +25.1% | not published | −54.1 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
AJUL in plain words
From its price on Oct 9, 2026, the fund can gain about 16.5% 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 figure. In index terms, SPY can fall 4.1% 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. 630 days remained on Oct 9, 2026. On Jun 30, 2028 the period ends and a new cap is set.
TJUL in plain words
SPY had already risen past this fund's cap of +13.6% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.8% as the period runs out. The fund's price can fall 7.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 20.6% from today's level to the point where the buffer begins. 264 days remained on Oct 9, 2026. On Jun 30, 2027 the period ends and a new cap is set.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every figure 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 figure is an ETFIQ calculation with distributions reinvested.
ETFIQ, AJUL against TJUL, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/ajul-vs-tjul
ETFIQ. (Oct 9, 2026). AJUL against TJUL. Retrieved from https://etfiq.com/compare/buffer/ajul-vs-tjul
[AJUL against TJUL (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/ajul-vs-tjul)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.