Data as of Nov 4, 2026.

vsOpen in the appCompare their flowsaskIQ about these two fundsAsk the committee about these two funds
Buffer ETFs

JANT vs XBJA: Cap, Buffer & Days Left

Share
Share on XDownload as PDF

As of Nov 4, 2026 JANT can fall 10.4% before its buffer engages and XBJA 9.3%.

askIQ about this page

askIQ about JANT and XBJA

Net assets: $55m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Jan, and $95m on Nov 4, 2026 for Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan.

At a glance
10.4%
JANT can fall this far before its buffer
9.3%
XBJA can fall this far before its buffer
3.8%
JANT can still gain
1.6%
XBJA can still gain
JANT Between buffer and cap
Between buffer and capJANT: reference +12.4% since period start, fund +10.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+12.4% gain captured−10.0% floor0% period start+15.6% cap+3.2% more to the capTODAY · SPY +12.4%Between buffer and capJANT: reference +12.4% since period start, fund +10.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap. Data to Nov 4, 2026.10 pts+12.4% gained−10.0% floor0% start+15.6% cap+3.2% more to the capTODAY · SPY +12.4%

JANT: reference +12.4% since period start, fund +10.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap. Data to Nov 4, 2026.

JANT: reference +12.4% since period start, fund +10.7%; buffer 0 to −10; cap +15.6%; Between buffer and cap. Data to Nov 4, 2026.
XBJA At its cap
At its capXBJA: reference +12.4% since period start, fund +9.4%; buffer 0 to −9; cap +11.9%; At its cap. Data to Nov 4, 2026.9 pts of buffer+11.9% gain captured−9.0% floor0% period start+11.9% capTODAY · SPY +12.4%At its capXBJA: reference +12.4% since period start, fund +9.4%; buffer 0 to −9; cap +11.9%; At its cap. Data to Nov 4, 2026.9 pts+11.9% gained−9.0% floor0% start+11.9% capTODAY · SPY +12.4%

XBJA: reference +12.4% since period start, fund +9.4%; buffer 0 to −9; cap +11.9%; At its cap. Data to Nov 4, 2026.

XBJA: reference +12.4% since period start, fund +9.4%; buffer 0 to −9; cap +11.9%; At its cap. Data to Nov 4, 2026.

Pair scorecard

JANT costs 0.05 points a year less; their one-year returns differ by 2.5 points; XBJA is 1.7 times larger.

Points (pts) are percentage points.

JANT vs XBJA: Cap, Buffer & Days Left
MeasureJANTXBJA
Return
Total return, 1 year+13.6%+11.1%
Drawdown
Index fall to the buffer11.1%11.0%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.74%0.79%
Net assets, as of Nov 3, 2026$55m$94m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: JANT vs XBJA: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowJANTXBJAJANTXBJA
3 months+1.4%+1.9%+1.8 pts+2.3 pts
6 months+5.2%+5.1%+0.7 pts+0.6 pts
1 year+13.6%+11.1%0.0 pts−2.4 pts
3 years+59.7%+39.1%−16.7 pts−37.3 pts
Since launchNot the same days: JANT Jan 2021 · XBJA Jan 2022+83.6%+41.1%−24.3 pts−19.4 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

JANT AllianzIM U.S. Equity Buffer10 ETF - Jan · Absorbs the first 10% of loss on SPY and caps the gain at 15.6%, over a period ending Dec 31, 2026 XBJA Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 11.9%, over a period ending Dec 31, 2026
Reference index SPY SPY
Buffer 10% 9%
Outcome period Jan 1, 2026 to Dec 31, 2026 Dec 31, 2025 to Dec 31, 2026
Days left 57 57
Starting cap +15.6% +11.9%
Can still gain 3.8% 1.6%
Fall before buffer 10.4% 9.3%
Protection left, index points 10.0% of 10.0% 9.0% of 9.0%
Index return this period +12.4% +12.4%
Fund return this period +10.7% +9.4%
State today Open At cap
Expense ratio 0.74% 0.79%
Net assets, JANT as of Nov 3, 2026 and XBJA as of Nov 4, 2026 $55m $95m

As of Nov 4, 2026. Source: ETFIQ.

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

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

Where each one stands today

JANT resets first, on Dec 31, 2026, 57 days from now; XBJA runs to Dec 31, 2026, 57 days. JANT can still gain 3.8% before its cap, XBJA 1.6%. A fall from here reaches JANT’s buffer after 10.4% and XBJA’s after 9.3%. Both track SPY, so what separates them is where each is in its own period.

Alert

XBJA flows, by email on Sundays.

One-click unsubscribe. See Privacy.

About each fund
JANT

From its price on Nov 4, 2026, the fund can gain about 3.8% more before it reaches its cap. The fund's price can fall 10.4% 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: 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.

XBJA

SPY had already risen past this fund's cap of +11.9% 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 1.6% as the period runs out. 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: 9.0% of the 9.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, JANT or XBJA?
From their prices on Nov 4, 2026, JANT can gain about 3.8% before its cap and XBJA about 1.6%, so JANT has more room left this period.
Which resets first, JANT or XBJA?
JANT ends its outcome period on Dec 31, 2026 and XBJA on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, JANT or XBJA?
JANT charges 0.74% a year and XBJA charges 0.79%, so JANT is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where to next
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.

Cite this pageCitation, APA and Markdown

ETFIQ, JANT against XBJA, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/jant-vs-xbja

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.