Which has more room to gain, BALT or JANT?

From their prices on Oct 9, 2026, BALT can gain about 1.9% before its cap and JANT about 3.4%, 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.

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BALT vs JANT: Cap, Buffer & Days Left

As of Oct 9, 2026 JANT can fall 10.8% before its buffer engages and BALT 0.5%. Net assets: $3.1bn on Oct 9, 2026 for Innovator Defined Wealth Shield ETF - Quarterly, and $62m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Jan.

BALT costs 0.05 points a year less; their one-year returns differ by 7.8 points; BALT is far larger, $3.1bn against $62m.

	BALT	JANT
Expense ratio	0.69%	0.74%
Net assets, as of Oct 8, 2026	$3.1bn	$62m
Total return, 1 year	+6.9%	+14.7%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	2.0%	12.4%

0.5%

BALT can fall this far before its buffer

10.8%

JANT can fall this far before its buffer

1.9%

BALT can still gain

3.4%

JANT can still gain

BALTBetween buffer and cap

BALT: reference +2.1% since period start, fund +0.5%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Figures to Oct 9, 2026.

JANTBetween buffer and cap

JANT: reference +14.2% since period start, fund +11.1%; buffer 0 to −10; cap +15.6%; Between buffer and cap. Figures to Oct 9, 2026.

ETFIQ Downside Cover Score · BALT scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

BALT 99.8

JANT 22.4

0.2, the lowest in this set99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it → How it is computed →

Where each one stands today

BALT resets first, on Dec 31, 2026, 83 days from now; JANT runs to Dec 31, 2026, 83 days. BALT can still gain 1.9% before its cap, JANT 3.4%. A fall from here reaches BALT’s buffer after 0.5% and JANT’s after 10.8%. 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	BALT	JANT	BALT	JANT
3 months	+2.0%	+3.2%	−1.1 pts	+0.1 pts
6 months	+4.1%	+10.6%	−10.5 pts	−4.0 pts
1 year	+6.9%	+14.7%	−9.1 pts	−1.3 pts
3 years	+25.7%	+60.4%	−53.5 pts	−18.8 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

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 83 83

Starting cap +2.4% +15.6%

Can still gain 1.9% 3.4%

Fall before buffer 0.5% 10.8%

Protection left, index points 20.0% of 20.0% 10.0% of 10.0%

Index return this period +2.1% +14.2%

Fund return this period +0.5% +11.1%

State today Open Open

Expense ratio 0.69% 0.74%

Net assets, BALT as of Oct 9, 2026 and JANT as of Oct 8, 2026 $3.1bn $62m

As of Oct 9, 2026. Source: ETFIQ.

BALT in plain words

From its price on Oct 9, 2026, the fund can gain about 1.9% more before it reaches its cap. The fund's price can fall 0.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 83 days remained on Oct 9, 2026. On Dec 31, 2026 the period ends and a new cap is set.

JANT in plain words

From its price on Oct 9, 2026, the fund can gain about 3.4% more before it reaches its cap. The fund's price can fall 10.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.4% 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 9, 2026, BALT can gain about 1.9% before its cap and JANT about 3.4%, 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 PBJA BALT vs JANP BALT vs DDFJ BALT vs JANU JANT vs PJAN JANT vs FDEC JANT vs ZALT JANT vs DDEC

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; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

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.

Cite this page

ETFIQ, BALT against JANT, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/balt-vs-jant

Open data

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