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IJAN vs QBIV: which one stands where?

As of Oct 1, 2026 IJAN can fall 6.5% before its buffer engages and QBIV 0.2%. Innovator Intl Developed Power Buffer ETF - Jan and AllianzIM International Equity Buffer5 ETF - Jan.

6.5%
IJAN can fall this far before its buffer
0.2%
QBIV can fall this far before its buffer
6.5%
IJAN can still gain
5.8%
QBIV can still gain
IJANBetween buffer and cap
Between buffer and capIJAN: reference +8.2% since period start, fund +6.2%; buffer 0 to −15; cap +13.8%; Between buffer and cap.15 pts of buffer+8.2% gain captured+5.6% to cap−15.0% floor0% period start+13.8% capTODAY · EFA +8.2%Between buffer and capIJAN: reference +8.2% since period start, fund +6.2%; buffer 0 to −15; cap +13.8%; Between buffer and cap.15 pts of buffer+8.2%−15.0% floor0% start+13.8% capTODAY · EFA +8.2%

IJAN: reference +8.2% since period start, fund +6.2%; buffer 0 to −15; cap +13.8%; Between buffer and cap.

QBIVBetween buffer and cap
Between buffer and capQBIV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +6.0%; Between buffer and cap.5 pts+6% to cap−5.0% floor0% period start+6.0% capTODAY · EFA 0.0%Between buffer and capQBIV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +6.0%; Between buffer and cap.−5.0% floor0% start+6.0% capTODAY · EFA 0.0%

QBIV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +6.0%; Between buffer and cap.

ETFIQ Downside Cover Score · IJAN 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 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

IJAN resets first, on Dec 31, 2026, 92 days from now; QBIV runs to Dec 31, 2026, 92 days. IJAN can still gain 6.5% before its cap, QBIV 5.8%. A fall from here reaches IJAN’s buffer after 6.5% and QBIV’s after 0.2%. 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 returnGap to the reference
WindowIJANQBIVIJANQBIV
3 months+1.3%0.0%+0.5 pts−0.8 pts
6 months+5.3%+5.1%−1.7 pts−1.9 pts
1 year+9.2%not published−5.9 ptsnot published
3 years+37.9%not published−27.8 ptsnot published

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

On the same fields

IJAN
Innovator Intl Developed Power Buffer ETF - Jan · Absorbs the first 15% of loss on EFA and caps the gain at 13.8%, over a period ending Dec 31, 2026
QBIV
AllianzIM International Equity Buffer5 ETF - Jan · Absorbs the first 5% of loss on EFA and caps the gain at 6.0%, over a period ending Dec 31, 2026
Issuer Innovator AllianzIM
Reference index EFA EFA
Buffer 15% 5%
Outcome period Dec 31, 2025 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026
Days left 92 92
Starting cap +13.8% +6.0%
Can still gain 6.5% 5.8%
Fall before buffer 6.5% 0.2%
Protection left, index points 15.0% of 15.0% 5.0% of 5.0%
Index return this period +8.2% 0.0%
Fund return this period +6.2% 0.0%
State today Open Open
Expense ratio 0.85% 0.74%
Net assets $232m $8m

IJAN and QBIV on the same fields, as of Oct 1, 2026. Source: ETFIQ.

IJAN in plain words

From its price on Oct 1, 2026, the fund can gain about 6.5% more before it reaches its cap. The fund's price can fall 6.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, EFA can fall 7.6% 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 EFA level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

QBIV in plain words

From its price on Oct 1, 2026, the fund can gain about 5.8% more before it reaches its cap. The fund's price can fall 0.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, EFA can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 5.0% of the 5.0% buffer still sits below today's EFA level.

Questions people ask

Which has more room to gain, IJAN or QBIV?
From their prices on Oct 1, 2026, IJAN can gain about 6.5% before its cap and QBIV about 5.8%, so IJAN has more room left this period.
Which resets first, IJAN or QBIV?
IJAN ends its outcome period on Dec 31, 2026 and QBIV on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, IJAN or QBIV?
IJAN charges 0.85% a year and QBIV charges 0.74%, so QBIV is cheaper. Fees come from each fund's prospectus.
Other comparisons
IJAN vs QBIFIJAN vs JANIIJAN vs YDECIJAN vs IBUFQBIV vs IOCTQBIV vs YSEPQBIV vs QBIFQBIV vs YDEC
EFA →IJAN on its own →QBIV on its own →How every figure is computed →Standards and sources →
Where these figures came from
IJAN filings on SEC EDGAR ↗Innovator page for IJAN ↗QBIV filings on SEC EDGAR ↗AllianzIM page for QBIV ↗

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, IJAN against QBIV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ijan-vs-qbiv

Open data

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