Which has more room to gain, BJUL or UJUL?

From their prices on Oct 2, 2026, BJUL can gain about 14.8% before its cap and UJUL about 11.6%, so BJUL has more room left this period.

Which resets first, BJUL or UJUL?

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

Which is cheaper, BJUL or UJUL?

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

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BJUL vs UJUL: which one stands where?

As of Oct 2, 2026 UJUL can fall 7.2% before its buffer engages and BJUL 2.9%. Innovator U.S. Equity Buffer ETF - Jul and Innovator U.S. Equity Ultra Buffer ETF - Jul.

their one-year returns differ by 3.3 points; BJUL is 1.2 times larger.

	BJUL	UJUL
Expense ratio	0.79%	0.79%
Net assets	$360m	$302m
Total return, 1 year	+12.2%	+8.9%
What it tracks	SPY	SPY
Holdings in common	not published

2.9%

BJUL can fall this far before its buffer

7.2%

UJUL can fall this far before its buffer

14.8%

BJUL can still gain

11.6%

UJUL 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.

UJULBetween buffer and cap

UJUL: reference +3.1% since period start, fund +2.1%; buffer −5 to −35; cap +14.2%; Between buffer and cap.

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

BJUL 16.5

UJUL 63.4

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 →

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

BJUL resets first, on Jun 30, 2027, 271 days from now; UJUL runs to Jun 30, 2027, 271 days. BJUL can still gain 14.8% before its cap, UJUL 11.6%. A fall from here reaches BJUL’s buffer after 2.9% and UJUL’s after 7.2%. 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	UJUL	BJUL	UJUL
3 months	+3.1%	+2.3%	−0.5 pts	−1.3 pts
6 months	+11.6%	+7.9%	−6.3 pts	−10.0 pts
1 year	+12.2%	+8.9%	−4.0 pts	−7.3 pts
3 years	+63.6%	+48.3%	−25.7 pts	−41.0 pts

BJUL and UJUL 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

UJUL

Innovator U.S. Equity Ultra Buffer ETF - Jul · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 14.2%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 5% to 35%

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

Days left 271 271

Starting cap +18.1% +14.2%

Can still gain 14.8% 11.6%

Fall before buffer 2.9% 7.2%

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

Index return this period +3.1% +3.1%

Fund return this period +2.8% +2.1%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $360m $302m

BJUL and UJUL 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.

UJUL in plain words

From its price on Oct 2, 2026, the fund can gain about 11.6% more before it reaches its cap. The fund's price can fall 7.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 7.8% 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.

Questions people ask

Which has more room to gain, BJUL or UJUL?: From their prices on Oct 2, 2026, BJUL can gain about 14.8% before its cap and UJUL about 11.6%, so BJUL has more room left this period.
Which resets first, BJUL or UJUL?: BJUL ends its outcome period on Jun 30, 2027 and UJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or UJUL?: BJUL charges 0.79% a year and UJUL 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 UJUL vs PJUN UJUL vs UOCT UJUL vs XBJL UJUL vs XJUN

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

Where these figures came from

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

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 UJUL, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/bjul-vs-ujul

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.