Which resets first, IBUF or JANI?

IBUF ends its outcome period on Dec 31, 2026 and JANI on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, IBUF or JANI?

IBUF charges 0.85% a year and JANI charges 0.79%, so JANI is cheaper. Fees come from each fund's prospectus.

IBUF vs JANI: which one stands where?

As of Oct 1, 2026 JANI can fall 2.6% before its buffer engages and IBUF 0.0%. Innovator International Developed 10 Buffer ETF™ - Quarterly and AllianzIM International Equity Buffer15 Uncapped ETF - Jan.

0.0%

IBUF can fall this far before its buffer

2.6%

JANI can fall this far before its buffer

4.0%

IBUF can still gain

uncapped

JANI can still gain

IBUFBetween buffer and cap

IBUF: reference 0.0% since period start, fund 0.0%; buffer 0 to −10; cap +4.0%; Between buffer and cap.

JANINo cap

JANI: reference +3.1% since period start, fund +1.9%; buffer 0 to −15; no cap; No cap.

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

IBUF 34.3

JANI 83.8

0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

Where each one stands today

IBUF resets first, on Dec 31, 2026, 92 days from now; JANI runs to Dec 31, 2026, 92 days. A fall from here reaches IBUF’s buffer after 0.0% and JANI’s after 2.6%. Both track EFA, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	IBUF	JANI	IBUF	JANI
3 months	−0.1%	−0.4%	−0.9 pts	−1.2 pts
6 months	+5.5%	+2.9%	−1.6 pts	−4.1 pts
1 year	+10.2%	not published	−4.9 pts	not published

IBUF and JANI over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

IBUF

Innovator International Developed 10 Buffer ETF™ - Quarterly · Absorbs the first 10% of loss on EFA and caps the gain at 4.0%, over a period ending Dec 31, 2026

JANI

AllianzIM International Equity Buffer15 Uncapped ETF - Jan · Absorbs the first 15% of loss on EFA and does not cap the gain, over a period ending Dec 31, 2026

Issuer Innovator AllianzIM

Reference index EFA EFA

Buffer 10% 15%

Outcome period Sep 30, 2026 to Dec 31, 2026 Feb 1, 2026 to Dec 31, 2026

Days left 92 92

Starting cap +4.0% uncapped

Can still gain 4.0% uncapped

Fall before buffer 0.0% 2.6%

Protection left, index points 10.0% of 10.0% 15.0% of 15.0%

Index return this period 0.0% +3.1%

Fund return this period 0.0% +1.9%

State today Open Uncapped

Expense ratio 0.85% 0.79%

Net assets $114m $24m

IBUF and JANI on the same fields, as of Oct 1, 2026. Source: ETFIQ.

IBUF in plain words

From its price on Oct 1, 2026, the fund can gain about 4.0% more before it reaches its cap. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's EFA level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

JANI in plain words

This fund has no cap. It takes a share of any further rise in EFA. The fund's price can fall 2.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, EFA can fall 3.0% 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 EFA level.

Questions people ask

Which resets first, IBUF or JANI?: IBUF ends its outcome period on Dec 31, 2026 and JANI on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, IBUF or JANI?: IBUF charges 0.85% a year and JANI charges 0.79%, so JANI is cheaper. Fees come from each fund's prospectus.

Other comparisons

IBUF vs IJAN IBUF vs QBIF IBUF vs QBIV IBUF vs YDEC JANI vs QBIF JANI vs QBIV JANI vs YDEC JANI vs IJAN

EFA →IBUF on its own →JANI on its own →How every figure is computed →Standards and sources →

Where these figures came from

IBUF filings on SEC EDGAR ↗Innovator page for IBUF ↗JANI filings on SEC EDGAR ↗AllianzIM page for JANI ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, IBUF against JANI, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ibuf-vs-jani

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.