Data as of Nov 4, 2026.

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Buffer ETFs

BJUN vs XMAY: Cap, Buffer & Days Left

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As of Nov 4, 2026 XMAY can fall 4.6% before its buffer engages and BJUN 2.3%, and XMAY resets 10 days sooner.

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Net assets: $246m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Jun, and $19m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May.

At a glance
2.3%
BJUN can fall this far before its buffer
4.6%
XMAY can fall this far before its buffer
15.4%
BJUN can still gain
6.1%
XMAY can still gain
BJUN Between buffer and cap
Between buffer and capBJUN: reference +1.3% since period start, fund +2.0%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Data to Nov 4, 2026.9 pts of buffer+16.7% more to the cap−9.0% floor0% period start+18.1% cap+1.3% gain capturedTODAY · SPY +1.3%Between buffer and capBJUN: reference +1.3% since period start, fund +2.0%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Data to Nov 4, 2026.9 pts+16.7% to cap−9.0% floor0% start+18.1% cap+1.3% gain capturedTODAY · SPY +1.3%

BJUN: reference +1.3% since period start, fund +2.0%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Data to Nov 4, 2026.

BJUN: reference +1.3% since period start, fund +2.0%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Data to Nov 4, 2026.
XMAY Between buffer and cap
Between buffer and capXMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+3.7%+7.3% to cap−15.0% floor0% period start+11.0% capTODAY · SPY +3.7%Between buffer and capXMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.15 pts−15.0% floor0% start+11.0% cap+3.7% gain captured+7.3% more to the capTODAY · SPY +3.7%

XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.

XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

BJUN costs 0.06 points a year less; their one-year returns differ by 0.7 points; BJUN is 12.8 times larger.

Points (pts) are percentage points.

BJUN vs XMAY: Cap, Buffer & Days Left
MeasureBJUNXMAY
Return
Total return, 1 year+8.7%+8.0%
Drawdown
Index fall to the buffer1.3%3.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.85%
Net assets, as of Nov 3, 2026$243m$19m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: BJUN vs XMAY: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBJUNXMAYBJUNXMAY
3 months+0.5%+1.3%+0.9 pts+1.7 pts
6 months+2.5%+3.9%−2.0 pts−0.6 pts
1 year+8.7%+8.0%−4.8 pts−5.5 pts
3 years+50.0%–−26.4 pts–
Since launchNot the same days: BJUN Jun 2019 · XMAY May 2024+96.7%+25.1%−82.6 pts−19.6 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

BJUN Innovator U.S. Equity Buffer ETF - Jun · Absorbs the first 9% of loss on SPY and caps the gain at 18.1%, over a period ending May 31, 2027 XMAY FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May · Absorbs the first 15% of loss on SPY and caps the gain at 11.0%, over a period ending May 21, 2027
Reference index SPY SPY
Buffer 9% 15%
Outcome period May 31, 2026 to May 31, 2027 May 18, 2026 to May 21, 2027
Days left 208 198
Starting cap +18.1% +11.0%
Can still gain 15.4% 6.1%
Fall before buffer 2.3% 4.6%
Protection left, index points 9.0% of 9.0% 15.0% of 15.0%
Index return this period +1.3% +3.7%
Fund return this period +2.0% +3.9%
State today Open Open
Expense ratio 0.79% 0.85%
Net assets, BJUN as of Nov 4, 2026 and XMAY as of Nov 3, 2026 $246m $19m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. XMAY is a floor fund, which caps how far a holder can fall. BJUN 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

XMAY resets first, on May 21, 2027, 198 days from now; BJUN runs to May 31, 2027, 208 days. BJUN can still gain 15.4% before its cap, XMAY 6.1%. A fall from here reaches BJUN’s buffer after 2.3% and XMAY’s after 4.6%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
BJUN

From its price on Nov 4, 2026, the fund can gain about 15.4% more before it reaches its cap. The fund's price can fall 2.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% 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. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and a new cap is set.

XMAY

From its price on Nov 4, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BJUN or XMAY?
From their prices on Nov 4, 2026, BJUN can gain about 15.4% before its cap and XMAY about 6.1%, so BJUN has more room left this period.
Which resets first, BJUN or XMAY?
BJUN ends its outcome period on May 31, 2027 and XMAY on May 21, 2027. A new cap is set the day after each.
Which is cheaper, BJUN or XMAY?
BJUN charges 0.79% a year and XMAY charges 0.85%, so BJUN is cheaper. Fees come from each fund's prospectus.
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, BJUN against XMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bjun-vs-xmay

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