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BSEP vs DJUL: Cap, Buffer & Days Left

As of Oct 9, 2026 DJUL can fall 8.5% before its buffer engages and BSEP 1.4%, and DJUL resets 46 days sooner. Net assets on Oct 9, 2026: $470m for Innovator U.S. Equity Buffer ETF - Sep and $491m for FT Vest U.S. Equity Deep Buffer ETF - July.

BSEP costs 0.06 points a year less; their one-year returns differ by 2.7 points.

BSEPDJUL
Expense ratio0.79%0.85%
Net assets$470m$491m
Total return, 1 year+13.2%+10.5%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer1.5%9.3%
1.4%
BSEP can fall this far before its buffer
8.5%
DJUL can fall this far before its buffer
18.0%
BSEP can still gain
9.6%
DJUL can still gain
BSEPBetween buffer and cap
Between buffer and capBSEP: reference +1.5% since period start, fund +1.4%; buffer 0 to −9; cap +19.8%; Between buffer and cap. Figures to Oct 9, 2026.9 pts of buffer+18.3% more to the cap−9.0% floor0% period start+19.8% cap+1.5% gain capturedTODAY · SPY +1.5%Between buffer and capBSEP: reference +1.5% since period start, fund +1.4%; buffer 0 to −9; cap +19.8%; Between buffer and cap. Figures to Oct 9, 2026.−9.0% floor0% start+19.8% cap9 pts of buffer+1.5% gain captured+18.3% more to the capTODAY · SPY +1.5%

BSEP: reference +1.5% since period start, fund +1.4%; buffer 0 to −9; cap +19.8%; Between buffer and cap. Figures to Oct 9, 2026.

BSEP: reference +1.5% since period start, fund +1.4%; buffer 0 to −9; cap +19.8%; Between buffer and cap. Figures to Oct 9, 2026.

DJULBetween buffer and cap
Between buffer and capDJUL: reference +4.8% since period start, fund +2.9%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Figures to Oct 9, 2026.25 pts of buffer+4.8%+8.8% to cap−30.0% floor−5.0% buffer start0% period start+13.6% capfirst 5 pts are yours to loseTODAY · SPY +4.8%Between buffer and capDJUL: reference +4.8% since period start, fund +2.9%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Figures to Oct 9, 2026.25 pts of buffer−30.0% floor−5.0% buffer start0% start+13.6% capfirst 5 pts are yours to lose+4.8% gain captured+8.8% more to the capTODAY · SPY +4.8%

DJUL: reference +4.8% since period start, fund +2.9%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Figures to Oct 9, 2026.

DJUL: reference +4.8% since period start, fund +2.9%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Figures to Oct 9, 2026.

ETFIQ Downside Cover Score · DJUL 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 →

They do not reset together. DJUL has 280 days of its period left and BSEP has 326, so the two are not the same bet on the same months.

Where each one stands today

DJUL resets first, on Jul 16, 2027, 280 days from now; BSEP runs to Aug 31, 2027, 326 days. BSEP can still gain 18.0% before its cap, DJUL 9.6%. A fall from here reaches BSEP’s buffer after 1.4% and DJUL’s after 8.5%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Total returnGap to the reference's price return
WindowBSEPDJULBSEPDJUL
3 months+3.2%+2.8%+0.1 pts−0.3 pts
6 months+10.5%+7.7%−4.1 pts−6.9 pts
1 year+13.2%+10.5%−2.8 pts−5.5 pts
3 years+60.8%+50.5%−18.4 pts−28.6 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BSEP
Innovator U.S. Equity Buffer ETF - Sep · Absorbs the first 9% of loss on SPY and caps the gain at 19.8%, over a period ending Aug 31, 2027
DJUL
FT Vest U.S. Equity Deep Buffer ETF - July · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 13.6%, over a period ending Jul 16, 2027
Issuer Innovator First Trust
Reference index SPY SPY
Buffer 9% 5% to 30%
Outcome period Aug 31, 2026 to Aug 31, 2027 Jul 20, 2026 to Jul 16, 2027
Days left 326 280
Starting cap +19.8% +13.6%
Can still gain 18.0% 9.6%
Fall before buffer 1.4% 8.5%
Protection left, index points 9.0% of 9.0% 25.0% of 25.0%
Index return this period +1.5% +4.8%
Fund return this period +1.4% +2.9%
State today Open Open
Expense ratio 0.79% 0.85%
Net assets $470m $491m

As of Oct 9, 2026. Source: ETFIQ.

BSEP in plain words

From its price on Oct 9, 2026, the fund can gain about 18.0% more before it reaches its cap. The fund's price can fall 1.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 1.5% 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. 326 days remained on Oct 9, 2026. On Aug 31, 2027 the period ends and a new cap is set.

DJUL in plain words

From its price on Oct 9, 2026, the fund can gain about 9.6% more before it reaches its cap. The fund's price can fall 8.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 9.3% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 280 days remained on Oct 9, 2026. On Jul 16, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BSEP or DJUL?
From their prices on Oct 9, 2026, BSEP can gain about 18.0% before its cap and DJUL about 9.6%, so BSEP has more room left this period.
Which resets first, BSEP or DJUL?
BSEP ends its outcome period on Aug 31, 2027 and DJUL on Jul 16, 2027. A new cap is set the day after each.
Which is cheaper, BSEP or DJUL?
BSEP charges 0.79% a year and DJUL charges 0.85%, so BSEP is cheaper. Fees come from each fund's prospectus.
Other comparisons
BSEP vs DJANBSEP vs DOCTBSEP vs DAPRBSEP vs PMARDJUL vs POCTDJUL vs FOCTDJUL vs PSEPDJUL vs PJUL
SPY →BSEP on its own →DJUL on its own →How every figure is computed →Standards and sources →
Where these figures came from
BSEP filings on SEC EDGAR ↗Innovator page for BSEP ↗DJUL filings on SEC EDGAR ↗First Trust page for DJUL ↗

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 page

ETFIQ, BSEP against DJUL, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bsep-vs-djul

Open data

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