Which has more room to gain, JAJL or QBSV?

From their prices on Oct 1, 2026, JAJL can gain about 2.7% before its cap and QBSV about 4.9%, so QBSV has more room left this period.

Which resets first, JAJL or QBSV?

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

Which is cheaper, JAJL or QBSV?

JAJL charges 0.79% a year and QBSV charges 0.64%, so QBSV is cheaper. Fees come from each fund's prospectus.

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JAJL vs QBSV: which one stands where?

As of Oct 1, 2026 JAJL can fall 1.4% before its buffer engages and QBSV 0.2%. Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul and AllianzIM U.S. Equity Buffer5 ETF - Jan.

1.4%

JAJL can fall this far before its buffer

0.2%

QBSV can fall this far before its buffer

2.7%

JAJL can still gain

4.9%

QBSV can still gain

JAJLFull floor

JAJL: reference +2.1% since period start, fund +1.2%; buffer Floor; cap +4.1%; Full floor.

QBSVBetween buffer and cap

QBSV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +5.1%; Between buffer and cap.

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

JAJL resets first, on Dec 31, 2026, 92 days from now; QBSV runs to Dec 31, 2026, 92 days. JAJL can still gain 2.7% before its cap, QBSV 4.9%. A fall from here reaches JAJL’s buffer after 1.4% and QBSV’s after 0.2%. Both track SPY, 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	JAJL	QBSV	JAJL	QBSV
3 months	+1.1%	+2.2%	−1.4 pts	−0.3 pts
6 months	+4.0%	+8.2%	−13.0 pts	−8.8 pts
1 year	+5.6%	not published	−10.1 pts	not published

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

On the same fields

JAJL

Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul · Absorbs the whole loss on SPY and caps the gain at 4.1%, over a period ending Dec 31, 2026

QBSV

AllianzIM U.S. Equity Buffer5 ETF - Jan · Absorbs the first 5% of loss on SPY and caps the gain at 5.1%, over a period ending Dec 31, 2026

Issuer Innovator AllianzIM

Reference index SPY SPY

Buffer 100% 5%

Outcome period Jun 30, 2026 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026

Days left 92 92

Starting cap +4.1% +5.1%

Can still gain 2.7% 4.9%

Fall before buffer 1.4% 0.2%

Protection left, index points 100.0% of 100.0% 5.0% of 5.0%

Index return this period +2.1% 0.0%

Fund return this period +1.2% 0.0%

State today Open Open

Expense ratio 0.79% 0.64%

Net assets $301m $27m

JAJL and QBSV on the same fields, as of Oct 1, 2026. Source: ETFIQ.

JAJL in plain words

From its price on Oct 1, 2026, the fund can gain about 2.7% more before it reaches its cap. The fund's price can fall 1.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.1% 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. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

QBSV in plain words

From its price on Oct 1, 2026, the fund can gain about 4.9% 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, SPY 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 SPY level.

Questions people ask

Which has more room to gain, JAJL or QBSV?: From their prices on Oct 1, 2026, JAJL can gain about 2.7% before its cap and QBSV about 4.9%, so QBSV has more room left this period.
Which resets first, JAJL or QBSV?: JAJL ends its outcome period on Dec 31, 2026 and QBSV on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, JAJL or QBSV?: JAJL charges 0.79% a year and QBSV charges 0.64%, so QBSV is cheaper. Fees come from each fund's prospectus.

Other comparisons

JAJL vs AIOO JAJL vs AJAN JAJL vs BALT JAJL vs BJAN QBSV vs PBOC QBSV vs PMOC QBSV vs SEPM QBSV vs SIXO

SPY →JAJL on its own →QBSV on its own →How every figure is computed →Standards and sources →

Where these figures came from

JAJL filings on SEC EDGAR ↗Innovator page for JAJL ↗QBSV filings on SEC EDGAR ↗AllianzIM page for QBSV ↗

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, JAJL against QBSV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/jajl-vs-qbsv

Open data

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