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BALT vs JANT: which one stands where?

As of Oct 1, 2026 JANT can fall 9.6% before its buffer engages and BALT 0.0%. Innovator Defined Wealth Shield ETF - Quarterly and AllianzIM U.S. Equity Buffer10 ETF - Jan.

0.0%
BALT can fall this far before its buffer
9.6%
JANT can fall this far before its buffer
2.4%
BALT can still gain
4.7%
JANT can still gain
BALTBetween buffer and cap
Between buffer and capBALT: reference 0.0% since period start, fund 0.0%; buffer 0 to −20; cap +2.4%; Between buffer and cap.20 pts of buffer−20.0% floor0% period start+2.4% capTODAY · SPY 0.0%Between buffer and capBALT: reference 0.0% since period start, fund 0.0%; buffer 0 to −20; cap +2.4%; Between buffer and cap.20 pts of buffer−20.0% floor0% start+2.4% capTODAY · SPY 0.0%

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

JANTBetween buffer and cap
Between buffer and capJANT: reference +11.8% since period start, fund +9.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap.10 pts of buffer+11.8% gain captured−10.0% floor0% period start+15.6% capTODAY · SPY +11.8%Between buffer and capJANT: reference +11.8% since period start, fund +9.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap.10 pts+11.8%−10.0% floor0% start+15.6% capTODAY · SPY +11.8%

JANT: reference +11.8% since period start, fund +9.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap.

ETFIQ Downside Cover Score · BALT scores higherIf the market falls into a bear market from here, how much does the buffer absorb?
0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

Where each one stands today

BALT resets first, on Dec 31, 2026, 92 days from now; JANT runs to Dec 31, 2026, 92 days. BALT can still gain 2.4% before its cap, JANT 4.7%. A fall from here reaches BALT’s buffer after 0.0% and JANT’s after 9.6%. 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 returnGap to the reference
WindowBALTJANTBALTJANT
3 months+2.0%+2.8%−0.6 pts+0.3 pts
6 months+4.3%+12.1%−12.7 pts−4.9 pts
1 year+6.5%+13.7%−9.2 pts−2.0 pts
3 years+25.7%+60.9%−59.3 pts−24.1 pts

BALT and JANT 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
JANT
AllianzIM U.S. Equity Buffer10 ETF - Jan · Absorbs the first 10% of loss on SPY and caps the gain at 15.6%, over a period ending Dec 31, 2026
Issuer Innovator AllianzIM
Reference index SPY SPY
Buffer 20% 10%
Outcome period Sep 30, 2026 to Dec 31, 2026 Jan 1, 2026 to Dec 31, 2026
Days left 92 92
Starting cap +2.4% +15.6%
Can still gain 2.4% 4.7%
Fall before buffer 0.0% 9.6%
Protection left, index points 20.0% of 20.0% 10.0% of 10.0%
Index return this period 0.0% +11.8%
Fund return this period 0.0% +9.7%
State today Open Open
Expense ratio 0.69% 0.74%
Net assets $3.0bn $62m

BALT and JANT 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.

JANT in plain words

From its price on Oct 1, 2026, the fund can gain about 4.7% more before it reaches its cap. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% 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.

Questions people ask

Which has more room to gain, BALT or JANT?
From their prices on Oct 1, 2026, BALT can gain about 2.4% before its cap and JANT about 4.7%, so JANT has more room left this period.
Which resets first, BALT or JANT?
BALT ends its outcome period on Dec 31, 2026 and JANT on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, BALT or JANT?
BALT charges 0.69% a year and JANT charges 0.74%, so BALT is cheaper. Fees come from each fund's prospectus.
Other comparisons
BALT vs XSEPBALT vs ZALTBALT vs ZJANBALT vs ZOCTJANT vs PQXVJANT vs PQXXJANT vs QBSFJANT vs QBSV
SPY →BALT on its own →JANT on its own →How every figure is computed →Standards and sources →
Where these figures came from
Innovator page for BALT ↗JANT filings on SEC EDGAR ↗AllianzIM page for JANT ↗

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 JANT, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/balt-vs-jant

Open data

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