Which has more room to gain, BJUL or GJAN?

From their prices on Oct 13, 2026, BJUL can gain about 13.9% before its cap and GJAN about 2.8%, so BJUL has more room left this period.

Which resets first, BJUL or GJAN?

BJUL ends its outcome period on Jun 30, 2027 and GJAN on Jan 15, 2027. A new cap is set the day after each.

Which is cheaper, BJUL or GJAN?

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

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BJUL vs GJAN: Cap, Buffer & Days Left

As of Oct 13, 2026 GJAN can fall 8.2% before its buffer engages and BJUL 3.6%, and GJAN resets 166 days sooner. Net assets on Oct 12, 2026: $364m for Innovator U.S. Equity Buffer ETF - Jul and $443m for FT Vest U.S. Equity Moderate Buffer ETF - January.

BJUL costs 0.06 points a year less; their one-year returns differ by 2.3 points; GJAN is 1.2 times larger.

Points (pts) are percentage points.

BJUL vs GJAN: Cap, Buffer & Days Left
	BJUL	GJAN
Expense ratio	0.79%	0.85%
Net assets, as of Oct 12, 2026	$364m	$443m
Total return, 1 year	+14.7%	+12.4%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	3.9%	11.0%

3.6%

BJUL can fall this far before its buffer

8.2%

GJAN can fall this far before its buffer

13.9%

BJUL can still gain

2.8%

GJAN can still gain

BJULBetween buffer and cap

BJUL: reference +4.1% since period start, fund +3.5%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.

GJANAt its cap

GJAN: reference +12.4% since period start, fund +8.0%; buffer 0 to −15; cap +11.8%; At its cap. Figures to Oct 13, 2026.

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

BJUL 19.7

GJAN 56.3

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 →

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

They do not reset together. GJAN has 94 days of its period left and BJUL has 260, so the two are not the same bet on the same months.

Where each one stands today

GJAN resets first, on Jan 15, 2027, 94 days from now; BJUL runs to Jun 30, 2027, 260 days. BJUL can still gain 13.9% before its cap, GJAN 2.8%. A fall from here reaches BJUL’s buffer after 3.6% and GJAN’s after 8.2%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BJUL vs GJAN: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BJUL	GJAN	BJUL	GJAN
3 months	+3.2%	+3.0%	−0.7 pts	−0.9 pts
6 months	+8.8%	+7.7%	−4.6 pts	−5.7 pts
1 year	+14.7%	+12.4%	−4.4 pts	−6.7 pts
3 years	+62.0%	+43.1%	−18.3 pts	−37.2 pts
Since launch Not the same days: BJUL Aug 2018 · GJAN Jan 2023	+119.3%	+52.8%	−47.7 pts	−41.4 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

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

GJAN

FT Vest U.S. Equity Moderate Buffer ETF - January · Absorbs the first 15% of loss on SPY and caps the gain at 11.8%, over a period ending Jan 15, 2027

Issuer Innovator First Trust

Reference index SPY SPY

Buffer 9% 15%

Outcome period Jun 30, 2026 to Jun 30, 2027 Jan 20, 2026 to Jan 15, 2027

Days left 260 94

Starting cap +18.1% +11.8%

Can still gain 13.9% 2.8%

Fall before buffer 3.6% 8.2%

Protection left, index points 9.0% of 9.0% 15.0% of 15.0%

Index return this period +4.1% +12.4%

Fund return this period +3.5% +8.0%

State today Open At cap

Expense ratio 0.79% 0.85%

Net assets, as of Oct 12, 2026 $364m $443m

As of Oct 13, 2026. Source: ETFIQ.

About BJUL

From its price on Oct 13, 2026, the fund can gain about 13.9% 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 3.9% 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. 260 days remained on Oct 13, 2026. On Jun 30, 2027 the period ends and a new cap is set.

About GJAN

SPY had already risen past this fund's cap of +11.8% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.8% as the period runs out. The fund's price can fall 8.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.0% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 94 days remained on Oct 13, 2026. On Jan 15, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BJUL or GJAN?: From their prices on Oct 13, 2026, BJUL can gain about 13.9% before its cap and GJAN about 2.8%, so BJUL has more room left this period.
Which resets first, BJUL or GJAN?: BJUL ends its outcome period on Jun 30, 2027 and GJAN on Jan 15, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or GJAN?: BJUL charges 0.79% a year and GJAN charges 0.85%, so BJUL is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJUL vs DJAN BJUL vs BSEP BJUL vs DOCT BJUL vs DJUL GJAN vs PMAR GJAN vs FEBT GJAN vs PMAY GJAN vs PNOV

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

Where these figures came from

BJUL filings on SEC EDGAR ↗Innovator page for BJUL ↗GJAN filings on SEC EDGAR ↗First Trust page for GJAN ↗

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.

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ETFIQ, BJUL against GJAN, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bjul-vs-gjan

Open data

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