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BJUL vs PJUN: Cap, Buffer & Days Left

As of Oct 13, 2026 BJUL can fall 3.7% before its buffer engages and PJUN 3.0%, and PJUN resets 30 days sooner. Net assets on Oct 13, 2026: $364m for Innovator U.S. Equity Buffer ETF - Jul and $888m for Innovator U.S. Equity Power Buffer ETF - Jun.

Both cost 0.79% a year; their one-year returns differ by 5.2 points; PJUN is 2.4 times larger.

Points (pts) are percentage points.

BJUL vs PJUN: Cap, Buffer & Days Left
BJULPJUN
Expense ratio0.79%0.79%
Net assets$364m$888m
Total return, 1 year+13.6%+8.4%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer4.0%2.8%
3.7%
BJUL can fall this far before its buffer
3.0%
PJUN can fall this far before its buffer
13.8%
BJUL can still gain
10.4%
PJUN can still gain
BJULBetween buffer and cap
Between buffer and capBJUL: reference +4.2% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.9 pts of buffer+4.2%+14% more to the cap−9.0% floor0% period start+18.1% capTODAY · SPY +4.2%Between buffer and capBJUL: reference +4.2% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.9 pts+14% to cap−9.0% floor0% start+18.1% cap+4.2% gain capturedTODAY · SPY +4.2%

BJUL: reference +4.2% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.

BJUL: reference +4.2% since period start, fund +3.6%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.

PJUNBetween buffer and cap
Between buffer and capPJUN: reference +2.9% since period start, fund +2.8%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Figures to Oct 13, 2026.15 pts of buffer+2.9%+10.9% more to the cap−15.0% floor0% period start+13.8% capTODAY · SPY +2.9%Between buffer and capPJUN: reference +2.9% since period start, fund +2.8%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Figures to Oct 13, 2026.15 pts−15.0% floor0% start+13.8% cap+2.9% gain captured+10.9% more to the capTODAY · SPY +2.9%

PJUN: reference +2.9% since period start, fund +2.8%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Figures to Oct 13, 2026.

PJUN: reference +2.9% since period start, fund +2.8%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Figures to Oct 13, 2026.

ETFIQ Downside Cover Score · PJUN 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 →

They do not reset together. PJUN has 230 days of its period left and BJUL has 260, 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

PJUN resets first, on May 31, 2027, 230 days from now; BJUL runs to Jun 30, 2027, 260 days. BJUL can still gain 13.8% before its cap, PJUN 10.4%. A fall from here reaches BJUL’s buffer after 3.7% and PJUN’s after 3.0%. 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 PJUN: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBJULPJUNBJULPJUN
3 months+2.9%+2.5%−0.6 pts−1.0 pts
6 months+8.2%+4.0%−3.9 pts−8.0 pts
1 year+13.6%+8.4%−3.8 pts−8.9 pts
3 years+62.0%+41.1%−18.3 pts−39.1 pts
Since launch
Not the same days: BJUL Aug 2018 · PJUN Jun 2019
+119.3%+75.2%−47.7 pts−108.2 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
PJUN
Innovator U.S. Equity Power Buffer ETF - Jun · Absorbs the first 15% of loss on SPY and caps the gain at 13.8%, over a period ending May 31, 2027
Issuer Innovator Innovator
Reference index SPY SPY
Buffer 9% 15%
Outcome period Jun 30, 2026 to Jun 30, 2027 May 31, 2026 to May 31, 2027
Days left 260 230
Starting cap +18.1% +13.8%
Can still gain 13.8% 10.4%
Fall before buffer 3.7% 3.0%
Protection left, index points 9.0% of 9.0% 15.0% of 15.0%
Index return this period +4.2% +2.9%
Fund return this period +3.6% +2.8%
State today Open Open
Expense ratio 0.79% 0.79%
Net assets $364m $888m

As of Oct 13, 2026. Source: ETFIQ.

About BJUL

From its price on Oct 13, 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 4.0% 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 PJUN

From its price on Oct 13, 2026, the fund can gain about 10.4% 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 2.8% 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. 230 days remained on Oct 13, 2026. On May 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BJUL or PJUN?
From their prices on Oct 13, 2026, BJUL can gain about 13.8% before its cap and PJUN about 10.4%, so BJUL has more room left this period.
Which resets first, BJUL or PJUN?
BJUL ends its outcome period on Jun 30, 2027 and PJUN on May 31, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or PJUN?
BJUL and PJUN both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
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SPY →BJUL on its own →PJUN on its own →How every figure is computed →Standards and sources →
Where these figures came from
BJUL and PJUN filings on SEC EDGAR ↗Innovator page for BJUL ↗Innovator page for PJUN ↗

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 PJUN, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bjul-vs-pjun

Open data

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