Which has more room to gain, BJAN or BJUL?

From their prices on Oct 9, 2026, BJAN can gain about 3.9% before its cap and BJUL about 13.8%, so BJUL has more room left this period.

Which resets first, BJAN or BJUL?

BJAN ends its outcome period on Dec 31, 2026 and BJUL on Jun 30, 2027. A new cap is set the day after each.

Which is cheaper, BJAN or BJUL?

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

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BJAN vs BJUL: Cap, Buffer & Days Left

As of Oct 9, 2026 BJAN can fall 10.9% before its buffer engages and BJUL 3.7%, and BJAN resets 181 days sooner. Net assets on Oct 9, 2026: $351m for Innovator U.S. Equity Buffer ETF - Jan and $363m for Innovator U.S. Equity Buffer ETF - Jul.

Both cost 0.79% a year; their one-year returns differ by 2.4 points.

	BJAN	BJUL
Expense ratio	0.79%	0.79%
Net assets	$351m	$363m
Total return, 1 year	+15.3%	+12.9%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	12.4%	4.1%

10.9%

BJAN can fall this far before its buffer

3.7%

BJUL can fall this far before its buffer

3.9%

BJAN can still gain

13.8%

BJUL can still gain

BJANBetween buffer and cap

BJAN: reference +14.2% since period start, fund +11.4%; buffer 0 to −9; cap +16.5%; Between buffer and cap. Figures to Oct 9, 2026.

BJULBetween buffer and cap

BJUL: reference +4.3% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

ETFIQ Downside Cover Score · BJAN and BJUL score the sameIf the market falls into a bear market from here, how much does the buffer absorb?

BJAN 19.2

BJUL 19.2

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 →

They do not reset together. BJAN has 83 days of its period left and BJUL has 264, 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

BJAN resets first, on Dec 31, 2026, 83 days from now; BJUL runs to Jun 30, 2027, 264 days. BJAN can still gain 3.9% before its cap, BJUL 13.8%. A fall from here reaches BJAN’s buffer after 10.9% 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

	Total return		Gap to the reference's price return
Window	BJAN	BJUL	BJAN	BJUL
3 months	+3.4%	+2.8%	+0.2 pts	−0.4 pts
6 months	+11.0%	+9.6%	−3.5 pts	−5.0 pts
1 year	+15.3%	+12.9%	−0.7 pts	−3.1 pts
3 years	+64.4%	+61.2%	−14.8 pts	−17.9 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

BJAN

Innovator U.S. Equity Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 16.5%, over a period ending Dec 31, 2026

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 Dec 31, 2025 to Dec 31, 2026 Jun 30, 2026 to Jun 30, 2027

Days left 83 264

Starting cap +16.5% +18.1%

Can still gain 3.9% 13.8%

Fall before buffer 10.9% 3.7%

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

Index return this period +14.2% +4.3%

Fund return this period +11.4% +3.6%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $351m $363m

As of Oct 9, 2026. Source: ETFIQ.

BJAN in plain words

From its price on Oct 9, 2026, the fund can gain about 3.9% more before it reaches its cap. The fund's price can fall 10.9% 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: 9.0% of the 9.0% 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.

BJUL in plain words

From its price on Oct 9, 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 4.1% from today's level to the point where the buffer begins. 264 days remained on Oct 9, 2026. On Jun 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BJAN or BJUL?: From their prices on Oct 9, 2026, BJAN can gain about 3.9% before its cap and BJUL about 13.8%, so BJUL has more room left this period.
Which resets first, BJAN or BJUL?: BJAN ends its outcome period on Dec 31, 2026 and BJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, BJAN or BJUL?: BJAN and BJUL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJAN vs EALT BJAN vs PJUN BJAN vs PQX BJAN vs PQXV BJUL vs JULW BJUL vs FJUN BJUL vs JULT BJUL vs CPSJ

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

Where these figures came from

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

ETFIQ, BJAN against BJUL, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bjan-vs-bjul

Open data

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