Data as of Nov 4, 2026.

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Buffer ETFs

DDTJ vs JANU: Cap, Buffer & Days Left

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As of Nov 4, 2026 DDTJ can fall 9.3% before its buffer engages and JANU 8.4%.

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Net assets: $18m on Nov 4, 2026 for Innovator Equity Dual Directional 10 Buffer ETF - Jan, and $77m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jan.

At a glance
9.3%
DDTJ can fall this far before its buffer
8.4%
JANU can fall this far before its buffer
2.4%
DDTJ can still gain
uncapped
JANU can still gain
DDTJ Between buffer and cap
Between buffer and capDDTJ: reference +12.4% since period start, fund +9.4%; buffer 0 to −10; cap +12.8%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+12.4% gain captured−10.0% floor0% period start+12.8% cap+0.4% more to the capTODAY · SPY +12.4%Between buffer and capDDTJ: reference +12.4% since period start, fund +9.4%; buffer 0 to −10; cap +12.8%; Between buffer and cap. Data to Nov 4, 2026.10 pts+12.4%−10.0% floor0% start+12.8% cap+0.4% more to the capTODAY · SPY +12.4%

DDTJ: reference +12.4% since period start, fund +9.4%; buffer 0 to −10; cap +12.8%; Between buffer and cap. Data to Nov 4, 2026.

DDTJ: reference +12.4% since period start, fund +9.4%; buffer 0 to −10; cap +12.8%; Between buffer and cap. Data to Nov 4, 2026.
JANU No cap
No capJANU: reference +12.4% since period start, fund +8.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.15 pts of buffer+12.4% gained, no cap−15.0% floor0% period startno capTODAY · SPY +12.4%No capJANU: reference +12.4% since period start, fund +8.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.15 pts−15.0% floor0% startno cap+12.4% gained, no capTODAY · SPY +12.4%

JANU: reference +12.4% since period start, fund +8.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

JANU: reference +12.4% since period start, fund +8.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

Pair scorecard

JANU costs 0.05 points a year less; JANU is 4.3 times larger.

Points (pts) are percentage points.

DDTJ vs JANU: Cap, Buffer & Days Left
MeasureDDTJJANU
Return
Total return, 1 yearnot published+9.2%
Drawdown
Index fall to the buffer11.0%11.1%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.74%
Net assets, as of Nov 3, 2026$18m$77m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: DDTJ vs JANU: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDDTJJANUDDTJJANU
3 months+1.4%−1.3%+1.8 pts−0.9 pts
6 months+4.8%+2.3%+0.3 pts−2.2 pts
1 year–+9.2%–−4.4 pts
Since launchNot the same days: DDTJ Jan 2026 · JANU Jan 2025+9.1%+21.9%−3.1 pts−9.3 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

DDTJ Innovator Equity Dual Directional 10 Buffer ETF - Jan · Absorbs the first 10% of loss on SPY and caps the gain at 12.8%, over a period ending Dec 31, 2026 JANU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jan · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Dec 31, 2026
Reference index SPY SPY
Buffer 10% 15%
Outcome period Dec 31, 2025 to Dec 31, 2026 Jan 1, 2026 to Dec 31, 2026
Days left 57 57
Starting cap +12.8% uncapped
Can still gain 2.4% uncapped
Fall before buffer 9.3% 8.4%
Protection left, index points 10.0% of 10.0% 15.0% of 15.0%
Index return this period +12.4% +12.4%
Fund return this period +9.4% +8.3%
State today Open Uncapped
Expense ratio 0.79% 0.74%
Net assets, DDTJ as of Nov 4, 2026 and JANU as of Nov 3, 2026 $18m $77m

As of Nov 4, 2026. Source: ETFIQ.

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

DDTJ resets first, on Dec 31, 2026, 57 days from now; JANU runs to Dec 31, 2026, 57 days. A fall from here reaches DDTJ’s buffer after 9.3% and JANU’s after 8.4%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DDTJ

From its price on Nov 4, 2026, the fund can gain about 2.4% more before it reaches its cap. The fund's price can fall 9.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.0% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

JANU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 8.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.1% 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. On Dec 31, 2026 the period ends and new terms are set.

Questions people ask

Which resets first, DDTJ or JANU?
DDTJ ends its outcome period on Dec 31, 2026 and JANU on Dec 31, 2026. New terms are set the day after each.
Which is cheaper, DDTJ or JANU?
DDTJ charges 0.79% a year and JANU charges 0.74%, so JANU 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, DDTJ against JANU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddtj-vs-janu

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