Which has more room to gain, BJAN or XBJA?

From their prices on Oct 9, 2026, BJAN can gain about 3.9% before its cap and XBJA about 1.9%, so BJAN has more room left this period.

Which resets first, BJAN or XBJA?

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

Which is cheaper, BJAN or XBJA?

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

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BJAN vs XBJA: Cap, Buffer & Days Left

As of Oct 9, 2026 BJAN can fall 10.9% before its buffer engages and XBJA 9.0%. Net assets on Oct 9, 2026: $351m for Innovator U.S. Equity Buffer ETF - Jan and $94m for Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan.

Both cost 0.79% a year; their one-year returns differ by 4.0 points; BJAN is 3.7 times larger.

	BJAN	XBJA
Expense ratio	0.79%	0.79%
Net assets	$351m	$94m
Total return, 1 year	+15.3%	+11.3%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	12.4%

10.9%

BJAN can fall this far before its buffer

9.0%

XBJA can fall this far before its buffer

3.9%

BJAN can still gain

1.9%

XBJA 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.

XBJAAt its cap

XBJA: reference +14.2% since period start, fund +9.2%; buffer 0 to −9; cap +11.9%; At its cap. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

These are two different products. XBJA is a floor fund, which caps how far a holder can fall. BJAN is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

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

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; XBJA runs to Dec 31, 2026, 83 days. BJAN can still gain 3.9% before its cap, XBJA 1.9%. A fall from here reaches BJAN’s buffer after 10.9% and XBJA’s after 9.0%. 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	XBJA	BJAN	XBJA
3 months	+3.4%	+2.6%	+0.2 pts	−0.5 pts
6 months	+11.0%	+8.3%	−3.5 pts	−6.3 pts
1 year	+15.3%	+11.3%	−0.7 pts	−4.7 pts
3 years	+64.4%	+39.7%	−14.8 pts	−39.5 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

XBJA

Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 11.9%, over a period ending Dec 31, 2026

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 9%

Outcome period Dec 31, 2025 to Dec 31, 2026 Dec 31, 2025 to Dec 31, 2026

Days left 83 83

Starting cap +16.5% +11.9%

Can still gain 3.9% 1.9%

Fall before buffer 10.9% 9.0%

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

Index return this period +14.2% +14.2%

Fund return this period +11.4% +9.2%

State today Open At cap

Expense ratio 0.79% 0.79%

Net assets $351m $94m

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.

XBJA in plain words

SPY had already risen past this fund's cap of +11.9% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.9% as the period runs out. The fund's price can fall 9.0% from here before the buffer starts absorbing losses, by the issuer's figure.

Questions people ask

Which has more room to gain, BJAN or XBJA?: From their prices on Oct 9, 2026, BJAN can gain about 3.9% before its cap and XBJA about 1.9%, so BJAN has more room left this period.
Which resets first, BJAN or XBJA?: BJAN ends its outcome period on Dec 31, 2026 and XBJA on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, BJAN or XBJA?: BJAN and XBJA both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJAN vs JANU BJAN vs DDFJ BJAN vs PBJA BJAN vs QBSF XBJA vs UJAN XBJA vs XDEC XBJA vs EALT XBJA vs ZJAN

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →BJAN on its own →XBJA on its own →How every figure is computed →Standards and sources →

Where these figures came from

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

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

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 XBJA, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bjan-vs-xbja

Open data

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