Which has more room to gain, DDFL or XBJL?

From their prices on Nov 4, 2026, DDFL can gain about 7.8% before its cap and XBJL about 9.9%, so XBJL has more room left this period.

Which resets first, DDFL or XBJL?

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

Which is cheaper, DDFL or XBJL?

DDFL and XBJL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DDFL vs XBJL: Cap, Buffer & Days Left

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As of Nov 4, 2026 XBJL can fall 3.5% before its buffer engages and DDFL 2.8%.

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Net assets on Nov 4, 2026: $160m for Innovator Equity Dual Directional 15 Buffer ETF - Jul and $77m for Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul.

DDFL on its own →XBJL on its own →

At a glance

2.8%

DDFL can fall this far before its buffer

3.5%

XBJL can fall this far before its buffer

7.8%

DDFL can still gain

9.9%

XBJL can still gain

DDFL Between buffer and cap

DDFL: reference +2.6% since period start, fund +2.6%; buffer 0 to −15; cap +10.9%; Between buffer and cap. Data to Nov 4, 2026.

XBJL Between buffer and cap

XBJL: reference +2.6% since period start, fund +3.3%; buffer 0 to −9; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 2.6 points; DDFL is 2.1 times larger.

Points (pts) are percentage points.

DDFL vs XBJL: Cap, Buffer & Days Left
Measure	DDFL	XBJL
Return
Measure	DDFL	XBJL
Total return, 1 year	+7.3%	+9.9%
Drawdown
Measure	DDFL	XBJL
Index fall to the buffer	2.6%
Benchmark
Measure	DDFL	XBJL
What it tracks	SPY	SPY
Cost and size
Measure	DDFL	XBJL
Expense ratio	0.79%	0.79%
Net assets	$160m	$77m
Holdings
Measure	DDFL	XBJL
Holdings in common	not published

Method

Window by window

Window by window: DDFL vs XBJL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DDFL	XBJL	DDFL	XBJL
3 months	+1.1%	+1.4%	+1.5 pts	+1.8 pts
6 months	+3.5%	+4.3%	−1.0 pts	−0.2 pts
1 year	+7.3%	+9.9%	−6.2 pts	−3.6 pts
3 years	–	+42.8%	–	−33.6 pts
Since launchNot the same days: DDFL Jul 2025 · XBJL Jul 2021	+10.8%	+60.3%	−13.3 pts	−17.8 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

DDFL Innovator Equity Dual Directional 15 Buffer ETF - Jul · Absorbs the first 15% of loss on SPY and caps the gain at 10.9%, over a period ending Jun 30, 2027 XBJL Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul · Absorbs the first 9% of loss on SPY and caps the gain at 13.8%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 15% 9%

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

Days left 238 238

Starting cap +10.9% +13.8%

Can still gain 7.8% 9.9%

Fall before buffer 2.8% 3.5%

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

Index return this period +2.6% +2.6%

Fund return this period +2.6% +3.3%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $160m $77m

As of Nov 4, 2026. Source: ETFIQ.

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

DDFL resets first, on Jun 30, 2027, 238 days from now; XBJL runs to Jun 30, 2027, 238 days. DDFL can still gain 7.8% before its cap, XBJL 9.9%. A fall from here reaches DDFL’s buffer after 2.8% and XBJL’s after 3.5%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DDFL

From its price on Nov 4, 2026, the fund can gain about 7.8% more before it reaches its cap. The fund's price can fall 2.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% 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. 238 days remained on Nov 4, 2026. On Jun 30, 2027 the period ends and a new cap is set.

XBJL

From its price on Nov 4, 2026, the fund can gain about 9.9% more before it reaches its cap. The fund's price can fall 3.5% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, DDFL or XBJL?: From their prices on Nov 4, 2026, DDFL can gain about 7.8% before its cap and XBJL about 9.9%, so XBJL has more room left this period.
Which resets first, DDFL or XBJL?: DDFL ends its outcome period on Jun 30, 2027 and XBJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, DDFL or XBJL?: DDFL and XBJL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

DDFL vs UJUL DDFL vs JULU DDFL vs PBJL DDFL vs DDTL XBJL vs XJUN XBJL vs ZJUL XBJL vs DDTL XBJL vs UJUL

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DDFL on its own →XBJL on its own →Method →Standards and sources →

Sources and dates

DDFL and XBJL filings on SEC EDGAR ↗

Innovator page for DDFL ↗

Innovator page for XBJL ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, DDFL against XBJL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfl-vs-xbjl

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