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BJUL vs PBJL: Cap, Buffer & Days Left

As of Oct 9, 2026 BJUL can fall 3.7% before its buffer engages and PBJL 3.2%. Net assets on Oct 9, 2026: $363m for Innovator U.S. Equity Buffer ETF - Jul and $74m for PGIM S&P 500 Buffer 20 ETF - July .

PBJL costs 0.29 points a year less; their one-year returns differ by 3.7 points; BJUL is 4.9 times larger.

Points (pts) are percentage points.

BJUL vs PBJL: Cap, Buffer & Days Left
BJULPBJL
Expense ratio0.79%0.50%
Net assets$363m$74m
Total return, 1 year+12.9%+9.2%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer4.1%
3.7%
BJUL can fall this far before its buffer
3.2%
PBJL can fall this far before its buffer
13.8%
BJUL can still gain
8.7%
PBJL can still gain
BJULBetween buffer and cap
Between buffer and capBJUL: reference +4.3% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 9, 2026.9 pts of buffer+4.3%+13.9% more to the cap−9.0% floor0% period start+18.1% capTODAY · SPY +4.3%Between buffer and capBJUL: reference +4.3% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 9, 2026.9 pts−9.0% floor0% start+18.1% cap+4.3% gain captured+13.9% more to the capTODAY · SPY +4.3%

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.

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.

PBJLBetween buffer and cap
Between buffer and capPBJL: reference +4.3% since period start, fund +2.8%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Figures to Oct 9, 2026.20 pts of buffer+4.3%+8.1% to cap−20.0% floor0% period start+12.3% capTODAY · SPY +4.3%Between buffer and capPBJL: reference +4.3% since period start, fund +2.8%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Figures to Oct 9, 2026.20 pts of buffer−20.0% floor0% start+12.3% cap+4.3% gain captured+8.1% more to the capTODAY · SPY +4.3%

PBJL: reference +4.3% since period start, fund +2.8%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Figures to Oct 9, 2026.

PBJL: reference +4.3% since period start, fund +2.8%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Figures to Oct 9, 2026.

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

Where each one stands today

BJUL resets first, on Jun 30, 2027, 264 days from now; PBJL runs to Jun 30, 2027, 264 days. BJUL can still gain 13.8% before its cap, PBJL 8.7%. A fall from here reaches BJUL’s buffer after 3.7% and PBJL’s after 3.2%. 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 PBJL: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBJULPBJLBJULPBJL
3 months+2.8%+2.3%−0.4 pts−0.8 pts
6 months+9.6%+6.0%−5.0 pts−8.6 pts
1 year+12.9%+9.2%−3.1 pts−6.8 pts
3 years+61.2%not published−17.9 ptsnot published
Since launch
Not the same days: BJUL Aug 2018 · PBJL May 2024
+119.3%+28.5%−47.8 pts−22.0 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
PBJL
PGIM S&P 500 Buffer 20 ETF - July · Absorbs the first 20% of loss on SPY and caps the gain at 12.3%, over a period ending Jun 30, 2027
Issuer Innovator PGIM
Reference index SPY SPY
Buffer 9% 20%
Outcome period Jun 30, 2026 to Jun 30, 2027 Jul 1, 2026 to Jun 30, 2027
Days left 264 264
Starting cap +18.1% +12.3%
Can still gain 13.8% 8.7%
Fall before buffer 3.7% 3.2%
Protection left, index points 9.0% of 9.0% 20.0% of 20.0%
Index return this period +4.3% +4.3%
Fund return this period +3.6% +2.8%
State today Open Open
Expense ratio 0.79% 0.50%
Net assets $363m $74m

As of Oct 9, 2026. Source: ETFIQ.

About BJUL

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. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 264 days remained on Oct 9, 2026. On Jun 30, 2027 the period ends and a new cap is set.

About PBJL

From its price on Oct 9, 2026, the fund can gain about 8.7% more before it reaches its cap. The fund's price can fall 3.2% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BJUL or PBJL?
From their prices on Oct 9, 2026, BJUL can gain about 13.8% before its cap and PBJL about 8.7%, so BJUL has more room left this period.
Which resets first, BJUL or PBJL?
BJUL ends its outcome period on Jun 30, 2027 and PBJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or PBJL?
BJUL charges 0.79% a year and PBJL charges 0.50%, so PBJL is cheaper. Fees come from each fund's prospectus.
Other comparisons
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SPY →BJUL on its own →PBJL 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 ↗PBJL filings on SEC EDGAR ↗PGIM website ↗

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 pageCitation, APA and Markdown

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

Open data

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