Data as of Nov 4, 2026.
BFEB vs DJAN: Cap, Buffer & Days Left
As of Nov 4, 2026 DJAN can fall 12.5% before its buffer engages and BFEB 9.2%, and DJAN resets 16 days sooner.
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Net assets: $204m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Feb, and $459m on Nov 3, 2026 for FT Vest U.S. Equity Deep Buffer ETF - January.
BFEB: reference +10.8% since period start, fund +9.4%; buffer 0 to −9; cap +16.6%; Between buffer and cap. Data to Nov 4, 2026.
BFEB: reference +10.8% since period start, fund +9.4%; buffer 0 to −9; cap +16.6%; Between buffer and cap. Data to Nov 4, 2026.DJAN: reference +10.8% since period start, fund +7.7%; buffer −5 to −30; cap +11.6%; Between buffer and cap. Data to Nov 4, 2026.
DJAN: reference +10.8% since period start, fund +7.7%; buffer −5 to −30; cap +11.6%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
BFEB costs 0.06 points a year less; their one-year returns differ by 3.4 points; DJAN is 2.3 times larger.
Points (pts) are percentage points.
| Measure | BFEB | DJAN |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.2% | +10.8% |
| Drawdown | ||
| Index fall to the buffer | 9.7% | 14.3% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $204m | $459m |
| Holdings | ||
| Holdings in common | not published | |
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
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 →
Risk and return
Jan 29, 2021 to Oct 30, 2026 · 300 weekly returns · each against SPYFrom Jan 2021 to Oct 2026, BFEB returned more: +95.1% to +56.2%. DJAN swung less: 6.7% to 10.3%. DJAN fell less at its worst: −8.7% to −13.9%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | BFEB | DJAN | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +95.1% | +56.2% | BFEB | Price change plus distributions, reinvested. | |
| Annualized | +12.3% | +8.0% | BFEB | Total return as a yearly rate. | |
| Price return | +95.1% | +56.2% | BFEB | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 10.3% | 6.7% | DJAN | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 6.7% | 4.4% | DJAN | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −13.9% | −8.7% | DJAN | Deepest fall from a high to the low after it. | |
| Upside capture | 55.0% | 31.0% | 100.0% | BFEB | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 68.0% | 45.5% | 100.0% | DJAN | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.64 | 0.39 | 1.00 | DJAN lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.94 | 0.85 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.84 | 0.68 | BFEB | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.30 | 1.03 | BFEB | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.136 | 0.115 | 0.115 | BFEB | Return above Treasury bills per unit of beta. |
| Calmar | 0.88 | 0.92 | DJAN (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +1.3% a year | 0.0% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 1.23 | −0.01 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −0.8% to +3.5% | −2.1% to +2.1% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.45 | −0.71 | BFEB | Return against its benchmark per unit of tracking error. | |
| Tracking error | 6.2% | 9.8% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 300 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BFEB | DJAN | BFEB | DJAN |
| 3 months | +1.1% | +1.5% | +1.5 pts | +1.9 pts |
| 6 months | +4.9% | +4.4% | +0.4 pts | −0.1 pts |
| 1 year | +14.2% | +10.8% | +0.7 pts | −2.8 pts |
| 3 years | +60.8% | +42.7% | −15.6 pts | −33.7 pts |
| Since launchNot the same days: BFEB Feb 2020 · DJAN Jan 2021 | +120.2% | +55.6% | −16.4 pts | −46.9 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
Where each one stands today
DJAN resets first, on Jan 15, 2027, 72 days from now; BFEB runs to Jan 31, 2027, 88 days. BFEB can still gain 5.9% before its cap, DJAN 2.9%. A fall from here reaches BFEB’s buffer after 9.2% and DJAN’s after 12.5%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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BFEB
From its price on Nov 4, 2026, the fund can gain about 5.9% more before it reaches its cap. The fund's price can fall 9.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 9.7% 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. 88 days remained on Nov 4, 2026. On Jan 31, 2027 the period ends and a new cap is set.
DJAN
From its price on Nov 4, 2026, the fund can gain about 2.9% more before it reaches its cap. The fund's price can fall 12.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 14.3% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 72 days remained on Nov 4, 2026. On Jan 15, 2027 the period ends and a new cap is set.
Questions people ask
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How this is computed
It is a place in a set, not a rating or a recommendation.
ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, BFEB against DJAN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bfeb-vs-djan
ETFIQ. (Nov 4, 2026). BFEB against DJAN. Retrieved from https://etfiq.com/compare/buffer/bfeb-vs-djan
[BFEB against DJAN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bfeb-vs-djan)
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