Which has more room to gain, BAPR or FJUL?

From their prices on Oct 2, 2026, BAPR can gain about 5.5% before its cap and FJUL about 12.8%, so FJUL has more room left this period.

Which resets first, BAPR or FJUL?

BAPR ends its outcome period on Mar 31, 2027 and FJUL on Jul 16, 2027. A new cap is set the day after each.

Which is cheaper, BAPR or FJUL?

BAPR charges 0.79% a year and FJUL charges 0.85%, so BAPR is cheaper. Fees come from each fund's prospectus.

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BAPR vs FJUL: which one stands where?

As of Oct 2, 2026 BAPR can fall 11.0% before its buffer engages and FJUL 3.6%, and BAPR resets 107 days sooner. Innovator U.S. Equity Buffer ETF - Apr and FT Vest U.S. Equity Buffer ETF - July.

BAPR costs 0.06 points a year less; their one-year returns differ by 4.7 points; FJUL is 3.4 times larger.

	BAPR	FJUL
Expense ratio	0.79%	0.85%
Net assets	$418m	$1.4bn
Total return, 1 year	+16.9%	+12.2%
What it tracks	SPY	SPY
Holdings in common	not published

11.0%

BAPR can fall this far before its buffer

3.6%

FJUL can fall this far before its buffer

5.5%

BAPR can still gain

12.8%

FJUL can still gain

BAPRBetween buffer and cap

BAPR: reference +18.3% since period start, fund +11.8%; buffer 0 to −9; cap +18.5%; Between buffer and cap.

FJULBetween buffer and cap

FJUL: reference +3.5% since period start, fund +2.9%; buffer 0 to −10; cap +16.8%; Between buffer and cap.

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

BAPR 16.5

FJUL 35.9

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

A percentile among the 294 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 →

They do not reset together. BAPR has 180 days of its period left and FJUL has 287, so the two are not the same bet on the same months.

Where each one stands today

BAPR resets first, on Mar 31, 2027, 180 days from now; FJUL runs to Jul 16, 2027, 287 days. BAPR can still gain 5.5% before its cap, FJUL 12.8%. A fall from here reaches BAPR’s buffer after 11.0% and FJUL’s after 3.6%. 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 return		Gap to the reference
Window	BAPR	FJUL	BAPR	FJUL
3 months	+3.0%	+3.3%	−0.6 pts	−0.3 pts
6 months	+11.1%	+11.7%	−6.9 pts	−6.2 pts
1 year	+16.9%	+12.2%	+0.7 pts	−4.0 pts
3 years	+58.1%	+62.1%	−31.1 pts	−27.2 pts

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

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

FJUL

FT Vest U.S. Equity Buffer ETF - July · Absorbs the first 10% of loss on SPY and caps the gain at 16.8%, over a period ending Jul 16, 2027

Issuer Innovator First Trust

Reference index SPY SPY

Buffer 9% 10%

Outcome period Mar 31, 2026 to Mar 31, 2027 Jul 20, 2026 to Jul 16, 2027

Days left 180 287

Starting cap +18.5% +16.8%

Can still gain 5.5% 12.8%

Fall before buffer 11.0% 3.6%

Protection left, index points 9.0% of 9.0% 10.0% of 10.0%

Index return this period +18.3% +3.5%

Fund return this period +11.8% +2.9%

State today Open Open

Expense ratio 0.79% 0.85%

Net assets $418m $1.4bn

BAPR and FJUL on the same fields, as of Oct 2, 2026. Source: ETFIQ.

BAPR in plain words

From its price on Oct 2, 2026, the fund can gain about 5.5% more before it reaches its cap. The fund's price can fall 11.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.5% 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. 180 days remained on Oct 2, 2026. On Mar 31, 2027 the period ends and a new cap is set.

FJUL in plain words

From its price on Oct 2, 2026, the fund can gain about 12.8% more before it reaches its cap. The fund's price can fall 3.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.4% 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. 287 days remained on Oct 2, 2026. On Jul 16, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BAPR or FJUL?: From their prices on Oct 2, 2026, BAPR can gain about 5.5% before its cap and FJUL about 12.8%, so FJUL has more room left this period.
Which resets first, BAPR or FJUL?: BAPR ends its outcome period on Mar 31, 2027 and FJUL on Jul 16, 2027. A new cap is set the day after each.
Which is cheaper, BAPR or FJUL?: BAPR charges 0.79% a year and FJUL charges 0.85%, so BAPR is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAPR vs ZAPR BAPR vs APOC BAPR vs BJAN BAPR vs BJUL FJUL vs GJAN FJUL vs PAUG FJUL vs PDEC FJUL vs PFEB

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

Where these figures came from

BAPR filings on SEC EDGAR ↗Innovator page for BAPR ↗FJUL filings on SEC EDGAR ↗First Trust page for FJUL ↗

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, BAPR against FJUL, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/bapr-vs-fjul

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.