Which has more room to gain, BAPR or BJUL?

From their prices on Oct 13, 2026, BAPR can gain about 4.9% before its cap and BJUL about 13.8%, so BJUL has more room left this period.

Which resets first, BAPR or BJUL?

BAPR ends its outcome period on Mar 31, 2027 and BJUL on Jun 30, 2027. A new cap is set the day after each.

Which is cheaper, BAPR or BJUL?

BAPR and BJUL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

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BAPR vs BJUL: Cap, Buffer & Days Left

As of Oct 13, 2026 BAPR can fall 11.5% before its buffer engages and BJUL 3.7%, and BAPR resets 91 days sooner. Net assets on Oct 13, 2026: $418m for Innovator U.S. Equity Buffer ETF - Apr and $364m for Innovator U.S. Equity Buffer ETF - Jul.

Both cost 0.79% a year; their one-year returns differ by 3.9 points; BAPR is 1.1 times larger.

Points (pts) are percentage points.

BAPR vs BJUL: Cap, Buffer & Days Left
	BAPR	BJUL
Expense ratio	0.79%	0.79%
Net assets	$418m	$364m
Total return, 1 year	+17.5%	+13.6%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	16.4%	4.0%

11.5%

BAPR can fall this far before its buffer

3.7%

BJUL can fall this far before its buffer

4.9%

BAPR can still gain

13.8%

BJUL can still gain

BAPRAt its cap

BAPR: reference +19.6% since period start, fund +12.5%; buffer 0 to −9; cap +18.5%; At its cap. Figures to Oct 13, 2026.

BJULBetween buffer and cap

BJUL: reference +4.2% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

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

BAPR 15.6

BJUL 20

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 →

BAPR is already at its cap, so more rise in the index adds nothing to it before the period ends.

They do not reset together. BAPR has 169 days of its period left and BJUL has 260, 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

BAPR resets first, on Mar 31, 2027, 169 days from now; BJUL runs to Jun 30, 2027, 260 days. BAPR can still gain 4.9% before its cap, BJUL 13.8%. A fall from here reaches BAPR’s buffer after 11.5% and BJUL’s after 3.7%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BAPR vs BJUL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BAPR	BJUL	BAPR	BJUL
3 months	+3.0%	+2.9%	−0.5 pts	−0.6 pts
6 months	+7.5%	+8.2%	−4.5 pts	−3.9 pts
1 year	+17.5%	+13.6%	+0.2 pts	−3.8 pts
3 years	+56.2%	+62.0%	−24.1 pts	−18.3 pts
Since launch Not the same days: BAPR Apr 2019 · BJUL Aug 2018	+117.9%	+119.3%	−54.3 pts	−47.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

BAPR

Innovator U.S. Equity Buffer ETF - Apr · Absorbs the first 9% of loss on SPY and caps the gain at 18.5%, over a period ending Mar 31, 2027

BJUL

Innovator U.S. Equity Buffer ETF - Jul · Absorbs the first 9% of loss on SPY and caps the gain at 18.1%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 9%

Outcome period Mar 31, 2026 to Mar 31, 2027 Jun 30, 2026 to Jun 30, 2027

Days left 169 260

Starting cap +18.5% +18.1%

Can still gain 4.9% 13.8%

Fall before buffer 11.5% 3.7%

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

Index return this period +19.6% +4.2%

Fund return this period +12.5% +3.6%

State today At cap Open

Expense ratio 0.79% 0.79%

Net assets $418m $364m

As of Oct 13, 2026. Source: ETFIQ.

About BAPR

SPY had already risen past this fund's cap of +18.5% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.9% as the period runs out. The fund's price can fall 11.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 16.4% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 169 days remained on Oct 13, 2026. On Mar 31, 2027 the period ends and a new cap is set.

About BJUL

From its price on Oct 13, 2026, the fund can gain about 13.8% more before it reaches its cap. The fund's price can fall 3.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 4.0% from today's level to the point where the buffer begins. 260 days remained on Oct 13, 2026. On Jun 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BAPR or BJUL?: From their prices on Oct 13, 2026, BAPR can gain about 4.9% before its cap and BJUL about 13.8%, so BJUL has more room left this period.
Which resets first, BAPR or BJUL?: BAPR ends its outcome period on Mar 31, 2027 and BJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, BAPR or BJUL?: BAPR and BJUL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAPR vs BJAN BAPR vs PNOV BAPR vs PJUN BAPR vs PFEB BJUL vs DOCT BJUL vs GJAN BJUL vs DJAN BJUL vs BSEP

SPY →BAPR on its own →BJUL on its own →How every figure is computed →Standards and sources →

Where these figures came from

BAPR and BJUL filings on SEC EDGAR ↗Innovator page for BAPR ↗Innovator page for BJUL ↗

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 pageCitation, APA and Markdown

ETFIQ, BAPR against BJUL, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bapr-vs-bjul

Open data

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