Which has more room to gain, AJUL or XBJL?

From their prices on Oct 2, 2026, AJUL can gain about 17.1% before its cap and XBJL about 10.3%, so AJUL has more room left this period.

Which resets first, AJUL or XBJL?

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

Which is cheaper, AJUL or XBJL?

AJUL charges 0.79% a year and XBJL charges 0.79%, so AJUL is cheaper. Fees come from each fund's prospectus.

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AJUL vs XBJL: which one stands where?

As of Oct 2, 2026 XBJL can fall 3.1% before its buffer engages and AJUL 1.1%, and XBJL resets 366 days sooner. Innovator Equity Defined Protection ETF - Jul 2028 and Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul.

their one-year returns differ by 4.1 points; AJUL is 1.3 times larger.

	AJUL	XBJL
Expense ratio	0.79%	0.79%
Net assets	$99m	$77m
Total return, 1 year	+5.8%	+9.9%
What it tracks	SPY	SPY
Holdings in common	not published

1.1%

AJUL can fall this far before its buffer

3.1%

XBJL can fall this far before its buffer

17.1%

AJUL can still gain

10.3%

XBJL can still gain

AJULFull floor

AJUL: reference +3.1% since period start, fund +0.9%; buffer Floor; cap +18.3%; Full floor.

XBJLBetween buffer and cap

XBJL: reference +3.1% since period start, fund +3.0%; buffer 0 to −9; cap +13.8%; Between buffer and cap.

These are two different products. AJUL is a floor fund, which caps how far a holder can fall. XBJL 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. XBJL has 271 days of its period left and AJUL has 637, 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

XBJL resets first, on Jun 30, 2027, 271 days from now; AJUL runs to Jun 30, 2028, 637 days. AJUL can still gain 17.1% before its cap, XBJL 10.3%. A fall from here reaches AJUL’s buffer after 1.1% and XBJL’s after 3.1%. 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	AJUL	XBJL	AJUL	XBJL
3 months	+0.9%	+3.2%	−2.7 pts	−0.4 pts
6 months	+4.1%	+7.8%	−13.8 pts	−10.1 pts
1 year	+5.8%	+9.9%	−10.5 pts	−6.4 pts
3 years	not published	+46.3%	not published	−43.0 pts

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

On the same fields

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

XBJL

Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul · Absorbs the first 9% of loss on SPY and caps the gain at 13.8%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 100% 9%

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

Days left 637 271

Starting cap +18.3% +13.8%

Can still gain 17.1% 10.3%

Fall before buffer 1.1% 3.1%

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

Index return this period +3.1% +3.1%

Fund return this period +0.9% +3.0%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $99m $77m

AJUL and XBJL on the same fields, as of Oct 2, 2026. Source: ETFIQ.

AJUL in plain words

From its price on Oct 2, 2026, the fund can gain about 17.1% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.0% 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. 637 days remained on Oct 2, 2026. On Jun 30, 2028 the period ends and a new cap is set.

XBJL in plain words

From its price on Oct 2, 2026, the fund can gain about 10.3% more before it reaches its cap. The fund's price can fall 3.1% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 271 days remained on Oct 2, 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 XBJL?: From their prices on Oct 2, 2026, AJUL can gain about 17.1% before its cap and XBJL about 10.3%, so AJUL has more room left this period.
Which resets first, AJUL or XBJL?: AJUL ends its outcome period on Jun 30, 2028 and XBJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, AJUL or XBJL?: AJUL charges 0.79% a year and XBJL charges 0.79%, so AJUL is cheaper. Fees come from each fund's prospectus.

Other comparisons

AJUL vs UJUL AJUL vs CJUL AJUL vs CPSJ AJUL vs CTJL XBJL vs BJUL XBJL vs CJUL XBJL vs CPSJ XBJL vs CTJL

SPY →AJUL on its own →XBJL on its own →How every figure is computed →Standards and sources →

Where these figures came from

Innovator page for AJUL ↗XBJL filings on SEC EDGAR ↗Innovator page for XBJL ↗

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, AJUL against XBJL, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/ajul-vs-xbjl

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.