Which has more room to gain, DDTL or TJUL?

From their prices on Nov 4, 2026, DDTL can gain about 11.8% before its cap and TJUL about 4.5%, so DDTL has more room left this period.

Which resets first, DDTL or TJUL?

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

Which is cheaper, DDTL or TJUL?

DDTL and TJUL 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

DDTL vs TJUL: Cap, Buffer & Days Left

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As of Nov 4, 2026 TJUL can fall 8.2% before its buffer engages and DDTL 3.0%.

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Net assets on Nov 4, 2026: $90m for Innovator Equity Dual Directional 10 Buffer ETF - Jul and $114m for Innovator Equity Defined Protection ETF - Jul 2027.

DDTL on its own →TJUL on its own →

At a glance

3.0%

DDTL can fall this far before its buffer

8.2%

TJUL can fall this far before its buffer

11.8%

DDTL can still gain

4.5%

TJUL can still gain

DDTL Between buffer and cap

DDTL: reference +2.6% since period start, fund +2.8%; buffer 0 to −10; cap +15.2%; Between buffer and cap. Data to Nov 4, 2026.

TJUL At its cap

TJUL: reference +24.1% since period start, fund +7.6%; buffer Floor; cap +13.6%; At its cap. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 4.5 points; TJUL is 1.3 times larger.

Points (pts) are percentage points.

DDTL vs TJUL: Cap, Buffer & Days Left
Measure	DDTL	TJUL
Return
Measure	DDTL	TJUL
Total return, 1 year	+9.5%	+5.0%
Drawdown
Measure	DDTL	TJUL
Index fall to the buffer	2.6%	19.4%
Benchmark
Measure	DDTL	TJUL
What it tracks	SPY	SPY
Cost and size
Measure	DDTL	TJUL
Expense ratio	0.79%	0.79%
Net assets	$90m	$114m
Holdings
Measure	DDTL	TJUL
Holdings in common	not published

Method

Window by window

Window by window: DDTL vs TJUL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DDTL	TJUL	DDTL	TJUL
3 months	+0.9%	+1.2%	+1.2 pts	+1.6 pts
6 months	+4.1%	+2.4%	−0.4 pts	−2.1 pts
1 year	+9.5%	+5.0%	−4.1 pts	−8.6 pts
3 years	–	+25.0%	–	−51.4 pts
Since launchNot the same days: DDTL Jul 2025 · TJUL Jul 2023	+14.8%	+23.8%	−9.3 pts	−45.0 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

DDTL Innovator Equity Dual Directional 10 Buffer ETF - Jul · Absorbs the first 10% of loss on SPY and caps the gain at 15.2%, over a period ending Jun 30, 2027 TJUL Innovator Equity Defined Protection ETF - Jul 2027 · Absorbs the whole loss on SPY and caps the gain at 13.6%, over a period ending Jun 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 10% 100%

Outcome period Jun 30, 2026 to Jun 30, 2027 Jun 30, 2025 to Jun 30, 2027

Days left 238 238

Starting cap +15.2% +13.6%

Can still gain 11.8% 4.5%

Fall before buffer 3.0% 8.2%

Protection left, index points 10.0% of 10.0% 100.0% of 100.0%

Index return this period +2.6% +24.1%

Fund return this period +2.8% +7.6%

State today Open At cap

Expense ratio 0.79% 0.79%

Net assets $90m $114m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. TJUL is a floor fund, which caps how far a holder can fall. DDTL is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

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

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

DDTL resets first, on Jun 30, 2027, 238 days from now; TJUL runs to Jun 30, 2027, 238 days. DDTL can still gain 11.8% before its cap, TJUL 4.5%. A fall from here reaches DDTL’s buffer after 3.0% and TJUL’s after 8.2%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DDTL

From its price on Nov 4, 2026, the fund can gain about 11.8% more before it reaches its cap. The fund's price can fall 3.0% 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: 10.0% of the 10.0% 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.

TJUL

SPY had already risen past this fund's cap of +13.6% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.5% as the period runs out. The fund's price can fall 8.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 19.4% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, DDTL or TJUL?: From their prices on Nov 4, 2026, DDTL can gain about 11.8% before its cap and TJUL about 4.5%, so DDTL has more room left this period.
Which resets first, DDTL or TJUL?: DDTL ends its outcome period on Jun 30, 2027 and TJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, DDTL or TJUL?: DDTL and TJUL both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

DDTL vs AJUL DDTL vs XJUN DDTL vs JULU DDTL vs XBJL TJUL vs XBJL TJUL vs UJUL TJUL vs DJUN TJUL vs GJUN

Where to next

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

Sources and dates

DDTL filings on SEC EDGAR ↗

Innovator page for DDTL ↗

Innovator page for TJUL ↗

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, DDTL against TJUL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddtl-vs-tjul

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