Which has more room to gain, BJUL or ZJUL?

From their prices on Oct 2, 2026, BJUL can gain about 14.8% before its cap and ZJUL about 6.8%, so BJUL has more room left this period.

Which resets first, BJUL or ZJUL?

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

Which is cheaper, BJUL or ZJUL?

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

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BJUL vs ZJUL: which one stands where?

As of Oct 2, 2026 BJUL can fall 2.9% before its buffer engages and ZJUL 1.6%. Innovator U.S. Equity Buffer ETF - Jul and Innovator Equity Defined Protection ETF - 1 Yr July.

their one-year returns differ by 7.1 points; BJUL is 1.8 times larger.

	BJUL	ZJUL
Expense ratio	0.79%	0.79%
Net assets	$360m	$195m
Total return, 1 year	+12.2%	+5.1%
What it tracks	SPY	SPY
Holdings in common	not published

2.9%

BJUL can fall this far before its buffer

1.6%

ZJUL can fall this far before its buffer

14.8%

BJUL can still gain

6.8%

ZJUL 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.

ZJULFull floor

ZJUL: reference +3.1% since period start, fund +1.4%; buffer Floor; cap +8.4%; Full floor.

These are two different products. ZJUL 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.

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; ZJUL runs to Jun 30, 2027, 271 days. BJUL can still gain 14.8% before its cap, ZJUL 6.8%. A fall from here reaches BJUL’s buffer after 2.9% and ZJUL’s after 1.6%. 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	ZJUL	BJUL	ZJUL
3 months	+3.1%	+1.1%	−0.5 pts	−2.5 pts
6 months	+11.6%	+3.9%	−6.3 pts	−14.0 pts
1 year	+12.2%	+5.1%	−4.0 pts	−11.1 pts
3 years	+63.6%	not published	−25.7 pts	not published

BJUL and ZJUL 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

ZJUL

Innovator Equity Defined Protection ETF - 1 Yr July · Absorbs the whole loss on SPY and caps the gain at 8.4%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 100%

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

Days left 271 271

Starting cap +18.1% +8.4%

Can still gain 14.8% 6.8%

Fall before buffer 2.9% 1.6%

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

Index return this period +3.1% +3.1%

Fund return this period +2.8% +1.4%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $360m $195m

BJUL and ZJUL 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.

ZJUL in plain words

From its price on Oct 2, 2026, the fund can gain about 6.8% more before it reaches its cap. The fund's price can fall 1.6% 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 ZJUL?: From their prices on Oct 2, 2026, BJUL can gain about 14.8% before its cap and ZJUL about 6.8%, so BJUL has more room left this period.
Which resets first, BJUL or ZJUL?: BJUL ends its outcome period on Jun 30, 2027 and ZJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, BJUL or ZJUL?: BJUL charges 0.79% a year and ZJUL charges 0.79%, so BJUL is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJUL vs FJUN BJUL vs FOCT BJUL vs GJAN BJUL vs GJUN ZJUL vs PJUL ZJUL vs CJUL ZJUL vs CPSJ ZJUL vs CTJL

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

Where these figures came from

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

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

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.