Which has more room to gain, BJUL or PMJL?

From their prices on Oct 9, 2026, BJUL can gain about 13.8% before its cap and PMJL about 5.7%, so BJUL has more room left this period.

Which resets first, BJUL or PMJL?

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

Which is cheaper, BJUL or PMJL?

BJUL charges 0.79% a year and PMJL charges 0.50%, so PMJL is cheaper. Fees come from each fund's prospectus.

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BJUL vs PMJL: Cap, Buffer & Days Left

As of Oct 9, 2026 BJUL can fall 3.7% before its buffer engages and PMJL 2.1%. Net assets on Oct 9, 2026: $363m for Innovator U.S. Equity Buffer ETF - Jul and $7m for PGIM S&P 500 Max Buffer ETF - July.

PMJL costs 0.29 points a year less; their one-year returns differ by 6.9 points; BJUL is far larger, $363m against $7m.

	BJUL	PMJL
Expense ratio	0.79%	0.50%
Net assets	$363m	$7m
Total return, 1 year	+12.9%	+6.0%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.1%

3.7%

BJUL can fall this far before its buffer

2.1%

PMJL can fall this far before its buffer

13.8%

BJUL can still gain

5.7%

PMJL can still gain

BJULBetween buffer and cap

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.

PMJLFull floor

PMJL: reference +4.3% since period start, fund +1.7%; buffer Floor; cap +8.0%; Full floor. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

These are two different products. PMJL 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, 264 days from now; PMJL runs to Jun 30, 2027, 264 days. BJUL can still gain 13.8% before its cap, PMJL 5.7%. A fall from here reaches BJUL’s buffer after 3.7% and PMJL’s after 2.1%. 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	BJUL	PMJL	BJUL	PMJL
3 months	+2.8%	+1.3%	−0.4 pts	−1.9 pts
6 months	+9.6%	+3.6%	−5.0 pts	−11.0 pts
1 year	+12.9%	+6.0%	−3.1 pts	−10.1 pts
3 years	+61.2%	not published	−17.9 pts	not published

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

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

PMJL

PGIM S&P 500 Max Buffer ETF - July · Absorbs the whole loss on SPY and caps the gain at 8.0%, over a period ending Jun 30, 2027

Issuer Innovator PGIM

Reference index SPY SPY

Buffer 9% 100%

Outcome period Jun 30, 2026 to Jun 30, 2027 Jul 1, 2026 to Jun 30, 2027

Days left 264 264

Starting cap +18.1% +8.0%

Can still gain 13.8% 5.7%

Fall before buffer 3.7% 2.1%

Protection left, index points 9.0% of 9.0% 100.0% of 100.0%

Index return this period +4.3% +4.3%

Fund return this period +3.6% +1.7%

State today Open Open

Expense ratio 0.79% 0.50%

Net assets $363m $7m

As of Oct 9, 2026. Source: ETFIQ.

BJUL in plain words

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.

PMJL in plain words

From its price on Oct 9, 2026, the fund can gain about 5.7% more before it reaches its cap. The fund's price can fall 2.1% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BJUL or PMJL?: From their prices on Oct 9, 2026, BJUL can gain about 13.8% before its cap and PMJL about 5.7%, so BJUL has more room left this period.
Which resets first, BJUL or PMJL?: BJUL ends its outcome period on Jun 30, 2027 and PMJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or PMJL?: BJUL charges 0.79% a year and PMJL charges 0.50%, so PMJL is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJUL vs JULC BJUL vs HJLY BJUL vs CJUL BJUL vs CTJL PMJL vs ZJUL PMJL vs CJUL PMJL vs CTJL PMJL vs DJUN

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →BJUL on its own →PMJL 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 ↗PMJL 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

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

Open data

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