Data as of .
BJUL vs CPSJ: which one stands where?
As of Sep 21, 2026 BJUL can fall 3.0% before its buffer engages and CPSJ 1.2%.
These are two different products. CPSJ is a floor fund, which caps how far a holder can fall. BJUL is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
BJUL resets first, on Jun 30, 2027, 282 days from now; CPSJ runs to Jun 30, 2027, 282 days. A fall from here reaches BJUL’s buffer after 3.0% and CPSJ’s after 1.2%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| BJUL | CPSJ | BJUL | CPSJ | |
| 3 months | +2.2% | +1.0% | −0.1 pts | −1.3 pts |
| 6 months | +11.7% | +3.9% | −6.3 pts | −14.1 pts |
| 1 year | +11.8% | +5.2% | −4.7 pts | −11.4 pts |
| 3 years | +56.3% | not published | −22.1 pts | not published |
| 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 | CPSJ Calamos S&P 500 ® Structured Alt Protection ETF - July Absorbs losses from 0.1% to 100.0% on SPY and caps the gain at 7.6%, over a period ending Jun 30, 2027 | |
|---|---|---|
| Issuer | Innovator | Calamos |
| Reference index | SPY | SPY |
| Buffer | 9% | 0% to 100% |
| Outcome period | Jun 30, 2026 to Jun 30, 2027 | Jul 1, 2026 to Jun 30, 2027 |
| Days left | 282 | 282 |
| Starting cap | +18.1% | +7.6% |
| Can still gain | 14.6% | not published |
| Fall before buffer | 3.0% | 1.2% |
| Protection left, index points | 9.0% of 9.0% | 99.9% of 99.9% |
| Index return this period | +3.6% | +2.1% |
| Fund return this period | +2.9% | +1.1% |
| State today | Open | Open |
| Expense ratio | 0.79% | 0.69% |
| Net assets | $357m | $50m |
BJUL in plain words
From its price on Sep 21, 2026, the fund can gain about 14.6% more before it reaches its cap. The fund's price can fall 3.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.5% 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. 282 days remained on Sep 21, 2026. On Jun 30, 2027 the period ends and a new cap is set.
CPSJ in plain words
The fund's price can fall 1.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.2% from today's level to the point where the buffer begins. Protection left, in index points: 99.9% of the 99.9% buffer still sits below today's SPY level.
Questions people ask
- Which resets first, BJUL or CPSJ?
- BJUL ends its outcome period on Jun 30, 2027 and CPSJ on Jun 30, 2027. A new cap is set the day after each.
- Which is cheaper, BJUL or CPSJ?
- BJUL charges 0.79% a year and CPSJ charges 0.69%, so CPSJ is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BJUL against CPSJ, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/bjul-vs-cpsj Free to use with attribution; the underlying files are at Open data.