Which has more room to gain, BJUL or UAPR?

From their prices on Oct 9, 2026, BJUL can gain about 13.8% before its cap and UAPR about 3.9%, so BJUL has more room left this period.

Which resets first, BJUL or UAPR?

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

Which is cheaper, BJUL or UAPR?

BJUL and UAPR both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

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BJUL vs UAPR: Cap, Buffer & Days Left

As of Oct 9, 2026 UAPR can fall 12.8% before its buffer engages and BJUL 3.7%, and UAPR resets 91 days sooner. Net assets on Oct 9, 2026: $363m for Innovator U.S. Equity Buffer ETF - Jul and $160m for Innovator U.S. Equity Ultra Buffer ETF - Apr.

Both cost 0.79% a year; their one-year returns differ by 0.9 points; BJUL is 2.3 times larger.

Points (pts) are percentage points.

BJUL vs UAPR: Cap, Buffer & Days Left
	BJUL	UAPR
Expense ratio	0.79%	0.79%
Net assets	$363m	$160m
Total return, 1 year	+12.9%	+12.0%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	4.1%	20.6%

3.7%

BJUL can fall this far before its buffer

12.8%

UAPR can fall this far before its buffer

13.8%

BJUL can still gain

3.9%

UAPR 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.

UAPRAt its cap

UAPR: reference +19.7% since period start, fund +8.4%; buffer −5 to −35; cap +13.0%; At its cap. Figures to Oct 9, 2026.

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

BJUL 19.2

UAPR 8.4

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 →

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

They do not reset together. UAPR has 173 days of its period left and BJUL has 264, 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

UAPR resets first, on Mar 31, 2027, 173 days from now; BJUL runs to Jun 30, 2027, 264 days. BJUL can still gain 13.8% before its cap, UAPR 3.9%. A fall from here reaches BJUL’s buffer after 3.7% and UAPR’s after 12.8%. 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 UAPR: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BJUL	UAPR	BJUL	UAPR
3 months	+2.8%	+2.4%	−0.4 pts	−0.8 pts
6 months	+9.6%	+6.2%	−5.0 pts	−8.4 pts
1 year	+12.9%	+12.0%	−3.1 pts	−4.0 pts
3 years	+61.2%	+38.8%	−17.9 pts	−40.4 pts
Since launch Not the same days: BJUL Aug 2018 · UAPR Apr 2019	+119.3%	+46.5%	−47.8 pts	−125.9 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

UAPR

Innovator U.S. Equity Ultra Buffer ETF - Apr · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 13.0%, over a period ending Mar 31, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 5% to 35%

Outcome period Jun 30, 2026 to Jun 30, 2027 Mar 31, 2026 to Mar 31, 2027

Days left 264 173

Starting cap +18.1% +13.0%

Can still gain 13.8% 3.9%

Fall before buffer 3.7% 12.8%

Protection left, index points 9.0% of 9.0% 30.0% of 30.0%

Index return this period +4.3% +19.7%

Fund return this period +3.6% +8.4%

State today Open At cap

Expense ratio 0.79% 0.79%

Net assets $363m $160m

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 UAPR

SPY had already risen past this fund's cap of +13.0% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.9% as the period runs out. The fund's price can fall 12.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 20.6% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level. 173 days remained on Oct 9, 2026. On Mar 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BJUL or UAPR?: From their prices on Oct 9, 2026, BJUL can gain about 13.8% before its cap and UAPR about 3.9%, so BJUL has more room left this period.
Which resets first, BJUL or UAPR?: BJUL ends its outcome period on Jun 30, 2027 and UAPR on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or UAPR?: BJUL and UAPR both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJUL vs ZJUL BJUL vs UOCT BJUL vs TJUL BJUL vs UJAN UAPR vs DJAN UAPR vs BSEP UAPR vs DJUL UAPR vs UJAN

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

Where these figures came from

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

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 UAPR, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bjul-vs-uapr

Open data

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