Which has more room to gain, BJUN or XMAY?

From their prices on Oct 13, 2026, BJUN can gain about 14.3% before its cap and XMAY about 5.9%, 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.

Share on X Download as PDF

Open in the app Compare their flows Ask IQ about these two funds

BJUN vs XMAY: Cap, Buffer & Days Left

As of Oct 13, 2026 XMAY can fall 4.7% before its buffer engages and BJUN 3.2%, and XMAY resets 10 days sooner. Net assets on Oct 13, 2026: $246m for Innovator U.S. Equity Buffer ETF - Jun and $20m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May.

BJUN costs 0.06 points a year less; their one-year returns differ by 1.6 points; BJUN is 12.6 times larger.

Points (pts) are percentage points.

BJUN vs XMAY: Cap, Buffer & Days Left
	BJUN	XMAY
Expense ratio	0.79%	0.85%
Net assets	$246m	$20m
Total return, 1 year	+10.3%	+8.7%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	2.8%	5.0%

3.2%

BJUN can fall this far before its buffer

4.7%

XMAY can fall this far before its buffer

14.3%

BJUN can still gain

5.9%

XMAY can still gain

BJUNBetween buffer and cap

BJUN: reference +2.8% since period start, fund +3.0%; buffer 0 to −9; cap +18.1%; Between buffer and cap. Figures to Oct 13, 2026.

XMAYBetween buffer and cap

XMAY: reference +5.3% since period start, fund +4.0%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Figures to Oct 13, 2026.

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, 220 days from now; BJUN runs to May 31, 2027, 230 days. BJUN can still gain 14.3% before its cap, XMAY 5.9%. A fall from here reaches BJUN’s buffer after 3.2% and XMAY’s after 4.7%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BJUN vs XMAY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BJUN	XMAY	BJUN	XMAY
3 months	+2.8%	+2.6%	−0.7 pts	−0.8 pts
6 months	+4.8%	+4.5%	−7.2 pts	−7.5 pts
1 year	+10.3%	+8.7%	−7.0 pts	−8.6 pts
3 years	+52.2%	not published	−28.1 pts	not published
Since launch Not the same days: BJUN Jun 2019 · XMAY May 2024	+98.3%	+25.3%	−85.0 pts	−21.5 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

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

Issuer Innovator First Trust

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 230 220

Starting cap +18.1% +11.0%

Can still gain 14.3% 5.9%

Fall before buffer 3.2% 4.7%

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

Index return this period +2.8% +5.3%

Fund return this period +3.0% +4.0%

State today Open Open

Expense ratio 0.79% 0.85%

Net assets $246m $20m

As of Oct 13, 2026. Source: ETFIQ.

About BJUN

From its price on Oct 13, 2026, the fund can gain about 14.3% more before it reaches its cap. The fund's price can fall 3.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.8% 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. 230 days remained on Oct 13, 2026. On May 31, 2027 the period ends and a new cap is set.

About XMAY

From its price on Oct 13, 2026, the fund can gain about 5.9% more before it reaches its cap. The fund's price can fall 4.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.0% 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. 220 days remained on Oct 13, 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 Oct 13, 2026, BJUN can gain about 14.3% before its cap and XMAY about 5.9%, 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.

Other comparisons

BJUN vs CPSU BJUN vs DLMY BJUN vs DDTZ BJUN vs PMJN XMAY vs ZJUN XMAY vs DMAY XMAY vs DDFZ XMAY vs GMAY

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →BJUN on its own →XMAY on its own →How every figure is computed →Standards and sources →

Where these figures came from

BJUN filings on SEC EDGAR ↗Innovator page for BJUN ↗XMAY filings on SEC EDGAR ↗First Trust page for XMAY ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

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, BJUN against XMAY, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bjun-vs-xmay

Open data

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