Which has more room to gain, JULP or PJUL?

From their prices on Nov 4, 2026, JULP can gain about 12.6% before its cap and PJUL about 10.9%, so JULP has more room left this period.

Which resets first, JULP or PJUL?

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

Which is cheaper, JULP or PJUL?

JULP charges 0.50% a year and PJUL charges 0.79%, so JULP is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

JULP vs PJUL: Cap, Buffer & Days Left

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As of Nov 4, 2026 JULP can fall 3.1% before its buffer engages and PJUL 2.7%.

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Net assets on Nov 4, 2026: $43m for PGIM S&P 500 Buffer 12 ETF - July and $1.3bn for Innovator U.S. Equity Power Buffer ETF - Jul.

JULP on its own →PJUL on its own →

At a glance

3.1%

JULP can fall this far before its buffer

2.7%

PJUL can fall this far before its buffer

12.6%

JULP can still gain

10.9%

PJUL can still gain

JULP Between buffer and cap

JULP: reference +2.7% since period start, fund +2.7%; buffer 0 to −12; cap +16.2%; Between buffer and cap. Data to Nov 4, 2026.

PJUL Between buffer and cap

PJUL: reference +2.6% since period start, fund +2.5%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

JULP costs 0.29 points a year less; their one-year returns differ by 1.2 points; PJUL is far larger, $1.3bn against $43m.

Points (pts) are percentage points.

JULP vs PJUL: Cap, Buffer & Days Left
Measure	JULP	PJUL
Return
Measure	JULP	PJUL
Total return, 1 year	+10.5%	+9.3%
Drawdown
Measure	JULP	PJUL
Index fall to the buffer	2.6%
Benchmark
Measure	JULP	PJUL
What it tracks	SPY	SPY
Cost and size
Measure	JULP	PJUL
Expense ratio	0.50%	0.79%
Net assets	$43m	$1.3bn
Holdings
Measure	JULP	PJUL
Holdings in common	not published

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

IQ Buffer Score57.5JULP83.2PJUL

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

JULP 57.5

PJUL 83.2

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Window by window

Window by window: JULP vs PJUL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	JULP	PJUL	JULP	PJUL
3 months	+0.6%	+0.6%	+1.0 pts	+1.0 pts
6 months	+4.2%	+3.9%	−0.3 pts	−0.6 pts
1 year	+10.5%	+9.3%	−3.0 pts	−4.2 pts
3 years	–	+46.5%	–	−29.9 pts
Since launchNot the same days: JULP May 2024 · PJUL Aug 2018	+33.9%	+100.8%	−14.3 pts	−67.8 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

JULP PGIM S&P 500 Buffer 12 ETF - July · Absorbs the first 12% of loss on SPY and caps the gain at 16.2%, over a period ending Jun 30, 2027 PJUL Innovator U.S. Equity Power Buffer ETF - Jul · Absorbs the first 15% of loss on SPY and caps the gain at 14.0%, over a period ending Jun 30, 2027

Issuer PGIM Innovator

Reference index SPY SPY

Buffer 12% 15%

Outcome period Jul 1, 2026 to Jun 30, 2027 Jun 30, 2026 to Jun 30, 2027

Days left 238 238

Starting cap +16.2% +14.0%

Can still gain 12.6% 10.9%

Fall before buffer 3.1% 2.7%

Protection left, index points 12.0% of 12.0% 15.0% of 15.0%

Index return this period +2.7% +2.6%

Fund return this period +2.7% +2.5%

State today Open Open

Expense ratio 0.50% 0.79%

Net assets $43m $1.3bn

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

JULP resets first, on Jun 30, 2027, 238 days from now; PJUL runs to Jun 30, 2027, 238 days. JULP can still gain 12.6% before its cap, PJUL 10.9%. A fall from here reaches JULP’s buffer after 3.1% and PJUL’s after 2.7%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

JULP

From its price on Nov 4, 2026, the fund can gain about 12.6% more before it reaches its cap. The fund's price can fall 3.1% 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: 12.0% of the 12.0% 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.

PJUL

From its price on Nov 4, 2026, the fund can gain about 10.9% more before it reaches its cap. The fund's price can fall 2.7% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, JULP or PJUL?: From their prices on Nov 4, 2026, JULP can gain about 12.6% before its cap and PJUL about 10.9%, so JULP has more room left this period.
Which resets first, JULP or PJUL?: JULP ends its outcome period on Jun 30, 2027 and PJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, JULP or PJUL?: JULP charges 0.50% a year and PJUL charges 0.79%, so JULP is cheaper. Fees come from each fund's prospectus.

Other comparisons

JULP vs CTJL JULP vs CJUL JULP vs FJUN JULP vs DJUN PJUL vs BJAN PJUL vs BOCT PJUL vs PMAR PJUL vs PMAY

Where to next

SPDR S&P 500 ETF Trust →JULP on its own →PJUL on its own →Method →Standards and sources →

Sources and dates

JULP filings on SEC EDGAR ↗

PGIM website ↗

PJUL filings on SEC EDGAR ↗

Innovator page for PJUL ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

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, JULP against PJUL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/julp-vs-pjul

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