Which has more room to gain, BALT or FLJJ?

From their prices on Oct 1, 2026, BALT can gain about 2.4% before its cap and FLJJ about 4.9%, so FLJJ has more room left this period.

Which resets first, BALT or FLJJ?

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

Which is cheaper, BALT or FLJJ?

BALT charges 0.69% a year and FLJJ charges 0.74%, so BALT is cheaper. Fees come from each fund's prospectus.

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BALT vs FLJJ: which one stands where?

As of Oct 1, 2026 FLJJ can fall 6.9% before its buffer engages and BALT 0.0%. Innovator Defined Wealth Shield ETF - Quarterly and AllianzIM U.S. Equity Floor5 ETF - Jan.

0.0%

BALT can fall this far before its buffer

6.9%

FLJJ can fall this far before its buffer

2.4%

BALT can still gain

4.9%

FLJJ can still gain

BALTBetween buffer and cap

BALT: reference 0.0% since period start, fund 0.0%; buffer 0 to −20; cap +2.4%; Between buffer and cap.

FLJJFull floor

FLJJ: reference +2.1% since period start, fund +1.6%; buffer −5 to floor; cap +7.0%; Full floor.

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

Where each one stands today

BALT resets first, on Dec 31, 2026, 92 days from now; FLJJ runs to Dec 31, 2026, 92 days. BALT can still gain 2.4% before its cap, FLJJ 4.9%. A fall from here reaches BALT’s buffer after 0.0% and FLJJ’s after 6.9%. 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	BALT	FLJJ	BALT	FLJJ
3 months	+2.0%	+1.8%	−0.6 pts	−0.8 pts
6 months	+4.3%	+9.1%	−12.7 pts	−7.9 pts
1 year	+6.5%	+10.1%	−9.2 pts	−5.7 pts
3 years	+25.7%	not published	−59.3 pts	not published

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

On the same fields

BALT

Innovator Defined Wealth Shield ETF - Quarterly · Absorbs the first 20% of loss on SPY and caps the gain at 2.4%, over a period ending Dec 31, 2026

FLJJ

AllianzIM U.S. Equity Floor5 ETF - Jan · Absorbs losses from 5.0% to 100.0% on SPY and caps the gain at 7.0%, over a period ending Dec 31, 2026

Issuer Innovator AllianzIM

Reference index SPY SPY

Buffer 20% 5% to 100%

Outcome period Sep 30, 2026 to Dec 31, 2026 Jul 1, 2026 to Dec 31, 2026

Days left 92 92

Starting cap +2.4% +7.0%

Can still gain 2.4% 4.9%

Fall before buffer 0.0% 6.9%

Protection left, index points 20.0% of 20.0% 95.0% of 95.0%

Index return this period 0.0% +2.1%

Fund return this period 0.0% +1.6%

State today Open Open

Expense ratio 0.69% 0.74%

Net assets $3.0bn $9m

BALT and FLJJ on the same fields, as of Oct 1, 2026. Source: ETFIQ.

BALT in plain words

From its price on Oct 1, 2026, the fund can gain about 2.4% more before it reaches its cap. Protection left, in index points: 20.0% of the 20.0% 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.

FLJJ in plain words

From its price on Oct 1, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 6.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 7.0% from today's level to the point where the buffer begins. Protection left, in index points: 95.0% of the 95.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BALT or FLJJ?: From their prices on Oct 1, 2026, BALT can gain about 2.4% before its cap and FLJJ about 4.9%, so FLJJ has more room left this period.
Which resets first, BALT or FLJJ?: BALT ends its outcome period on Dec 31, 2026 and FLJJ on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, BALT or FLJJ?: BALT charges 0.69% a year and FLJJ charges 0.74%, so BALT is cheaper. Fees come from each fund's prospectus.

Other comparisons

BALT vs FDEC BALT vs JANP BALT vs JANT BALT vs JANU FLJJ vs PQV FLJJ vs PQX FLJJ vs PQXV FLJJ vs PQXX

SPY →BALT on its own →FLJJ on its own →How every figure is computed →Standards and sources →

Where these figures came from

Innovator page for BALT ↗FLJJ filings on SEC EDGAR ↗AllianzIM page for FLJJ ↗

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, BALT against FLJJ, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/balt-vs-fljj

Open data

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