Which has more room to gain, BJUL or PNOV?

From their prices on Oct 2, 2026, BJUL can gain about 14.8% before its cap and PNOV about 1.6%, so BJUL has more room left this period.

Which resets first, BJUL or PNOV?

BJUL ends its outcome period on Jun 30, 2027 and PNOV on Oct 31, 2026. A new cap is set the day after each.

Which is cheaper, BJUL or PNOV?

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

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BJUL vs PNOV: which one stands where?

As of Oct 2, 2026 PNOV can fall 10.4% before its buffer engages and BJUL 2.9%, and PNOV resets 242 days sooner. Innovator U.S. Equity Buffer ETF - Jul and Innovator U.S. Equity Power Buffer ETF - Nov.

their one-year returns differ by 0.8 points; PNOV is 2.3 times larger.

	BJUL	PNOV
Expense ratio	0.79%	0.79%
Net assets	$360m	$838m
Total return, 1 year	+12.2%	+11.4%
What it tracks	SPY	SPY
Holdings in common	not published

2.9%

BJUL can fall this far before its buffer

10.4%

PNOV can fall this far before its buffer

14.8%

BJUL can still gain

1.6%

PNOV can still gain

BJULBetween buffer and cap

BJUL: reference +3.1% since period start, fund +2.8%; buffer 0 to −9; cap +18.1%; Between buffer and cap.

PNOVBetween buffer and cap

PNOV: reference +12.8% since period start, fund +10.7%; buffer 0 to −15; cap +13.3%; Between buffer and cap.

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

BJUL 16.5

PNOV 23.6

0.2, the lowest in this set99.8, the highest

A percentile among the 294 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

They do not reset together. PNOV has 29 days of its period left and BJUL has 271, 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

PNOV resets first, on Oct 31, 2026, 29 days from now; BJUL runs to Jun 30, 2027, 271 days. BJUL can still gain 14.8% before its cap, PNOV 1.6%. A fall from here reaches BJUL’s buffer after 2.9% and PNOV’s after 10.4%. 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

	Total return		Gap to the reference
Window	BJUL	PNOV	BJUL	PNOV
3 months	+3.1%	+3.4%	−0.5 pts	−0.2 pts
6 months	+11.6%	+11.5%	−6.3 pts	−6.4 pts
1 year	+12.2%	+11.4%	−4.0 pts	−4.8 pts
3 years	+63.6%	+40.7%	−25.7 pts	−48.6 pts

BJUL and PNOV over each window. Every figure is an ETFIQ calculation with distributions reinvested. 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

PNOV

Innovator U.S. Equity Power Buffer ETF - Nov · Absorbs the first 15% of loss on SPY and caps the gain at 13.3%, over a period ending Oct 31, 2026

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 15%

Outcome period Jun 30, 2026 to Jun 30, 2027 Oct 31, 2025 to Oct 31, 2026

Days left 271 29

Starting cap +18.1% +13.3%

Can still gain 14.8% 1.6%

Fall before buffer 2.9% 10.4%

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

Index return this period +3.1% +12.8%

Fund return this period +2.8% +10.7%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $360m $838m

BJUL and PNOV on the same fields, as of Oct 2, 2026. Source: ETFIQ.

BJUL in plain words

From its price on Oct 2, 2026, the fund can gain about 14.8% more before it reaches its cap. The fund's price can fall 2.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.0% 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. 271 days remained on Oct 2, 2026. On Jun 30, 2027 the period ends and a new cap is set.

PNOV in plain words

From its price on Oct 2, 2026, the fund can gain about 1.6% more before it reaches its cap. The fund's price can fall 10.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.4% 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. 29 days remained on Oct 2, 2026. On Oct 31, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BJUL or PNOV?: From their prices on Oct 2, 2026, BJUL can gain about 14.8% before its cap and PNOV about 1.6%, so BJUL has more room left this period.
Which resets first, BJUL or PNOV?: BJUL ends its outcome period on Jun 30, 2027 and PNOV on Oct 31, 2026. A new cap is set the day after each.
Which is cheaper, BJUL or PNOV?: BJUL charges 0.79% a year and PNOV charges 0.79%, so BJUL is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJUL vs PJUL BJUL vs PJUN BJUL vs PMAR BJUL vs PMAY PNOV vs OCTM PNOV vs PBNV PNOV vs PMNV PNOV vs POCT

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

Where these figures came from

BJUL and PNOV filings on SEC EDGAR ↗Innovator page for BJUL ↗Innovator page for PNOV ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, BJUL against PNOV, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/bjul-vs-pnov

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.