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BOCT vs UJAN: Cap, Buffer & Days Left

As of Oct 9, 2026 UJAN can fall 12.8% before its buffer engages and BOCT 1.5%, and UJAN resets 273 days sooner. Net assets on Oct 9, 2026: $307m for Innovator U.S. Equity Buffer ETF - Oct and $254m for Innovator U.S. Equity Ultra Buffer ETF - Jan.

Both cost 0.79% a year; their one-year returns differ by 4.1 points; BOCT is 1.2 times larger.

Points (pts) are percentage points.

BOCT vs UJAN: Cap, Buffer & Days Left
BOCTUJAN
Expense ratio0.79%0.79%
Net assets$307m$254m
Total return, 1 year+14.9%+10.8%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer2.0%16.8%
1.5%
BOCT can fall this far before its buffer
12.8%
UJAN can fall this far before its buffer
18.4%
BOCT can still gain
2.3%
UJAN can still gain
BOCTBetween buffer and cap
Between buffer and capBOCT: reference +2.1% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 9, 2026.9 pts+18.1% more to the cap−9.0% floor0% period start+20.2% cap+2.1% gain capturedTODAY · SPY +2.1%Between buffer and capBOCT: reference +2.1% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 9, 2026.−9.0% floor0% start+20.2% cap9 pts of buffer+2.1% gain captured+18.1% more to the capTODAY · SPY +2.1%

BOCT: reference +2.1% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 9, 2026.

BOCT: reference +2.1% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 9, 2026.

UJANAt its cap
At its capUJAN: reference +14.2% since period start, fund +8.2%; buffer −5 to −35; cap +11.4%; At its cap. Figures to Oct 9, 2026.30 pts of buffer+11.4% gained−35.0% floor−5.0% buffer start0% period start+11.4% capfirst 5 pts are yours to loseTODAY · SPY +14.2%At its capUJAN: reference +14.2% since period start, fund +8.2%; buffer −5 to −35; cap +11.4%; At its cap. Figures to Oct 9, 2026.30 pts of buffer−35.0% floor−5.0% buffer start0% start+11.4% capfirst 5 pts are yours to lose+11.4% gain capturedTODAY · SPY +14.2%

UJAN: reference +14.2% since period start, fund +8.2%; buffer −5 to −35; cap +11.4%; At its cap. Figures to Oct 9, 2026.

UJAN: reference +14.2% since period start, fund +8.2%; buffer −5 to −35; cap +11.4%; At its cap. Figures to Oct 9, 2026.

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

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

They do not reset together. UJAN has 83 days of its period left and BOCT has 356, 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

UJAN resets first, on Dec 31, 2026, 83 days from now; BOCT runs to Sep 30, 2027, 356 days. BOCT can still gain 18.4% before its cap, UJAN 2.3%. A fall from here reaches BOCT’s buffer after 1.5% and UJAN’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: BOCT vs UJAN: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBOCTUJANBOCTUJAN
3 months+4.5%+2.6%+1.4 pts−0.5 pts
6 months+12.7%+7.6%−1.9 pts−7.0 pts
1 year+14.9%+10.8%−1.1 pts−5.2 pts
3 years+55.6%+42.0%−23.6 pts−37.1 pts
Since launch
Not the same days: BOCT Oct 2018 · UJAN Jan 2019
+127.7%+85.4%−39.2 pts−125.8 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

BOCT
Innovator U.S. Equity Buffer ETF - Oct · Absorbs the first 9% of loss on SPY and caps the gain at 20.2%, over a period ending Sep 30, 2027
UJAN
Innovator U.S. Equity Ultra Buffer ETF - Jan · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 11.4%, over a period ending Dec 31, 2026
Issuer Innovator Innovator
Reference index SPY SPY
Buffer 9% 5% to 35%
Outcome period Sep 30, 2026 to Sep 30, 2027 Dec 31, 2025 to Dec 31, 2026
Days left 356 83
Starting cap +20.2% +11.4%
Can still gain 18.4% 2.3%
Fall before buffer 1.5% 12.8%
Protection left, index points 9.0% of 9.0% 30.0% of 30.0%
Index return this period +2.1% +14.2%
Fund return this period +1.5% +8.2%
State today Open At cap
Expense ratio 0.79% 0.79%
Net assets $307m $254m

As of Oct 9, 2026. Source: ETFIQ.

About BOCT

From its price on Oct 9, 2026, the fund can gain about 18.4% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% 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. 356 days remained on Oct 9, 2026. On Sep 30, 2027 the period ends and a new cap is set.

About UJAN

SPY had already risen past this fund's cap of +11.4% 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 2.3% 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 16.8% 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. 83 days remained on Oct 9, 2026. On Dec 31, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BOCT or UJAN?
From their prices on Oct 9, 2026, BOCT can gain about 18.4% before its cap and UJAN about 2.3%, so BOCT has more room left this period.
Which resets first, BOCT or UJAN?
BOCT ends its outcome period on Sep 30, 2027 and UJAN on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, BOCT or UJAN?
BOCT and UJAN both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
BOCT vs UJULBOCT vs DAPRBOCT vs OCTWBOCT vs GSEPUJAN vs DDSQUJAN vs CPSDUJAN vs CPSYUJAN vs QBSV
SPY →BOCT on its own →UJAN on its own →How every figure is computed →Standards and sources →
Where these figures came from
BOCT and UJAN filings on SEC EDGAR ↗Innovator page for BOCT ↗Innovator page for UJAN ↗

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, BOCT against UJAN, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/boct-vs-ujan

Open data

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