Which has more room to gain, JUNM or XBJL?

From their prices on Nov 4, 2026, JUNM can gain about 4.9% before its cap and XBJL about 9.9%, so XBJL has more room left this period.

Which resets first, JUNM or XBJL?

JUNM ends its outcome period on Jun 17, 2027 and XBJL on Jun 30, 2027. A new cap is set the day after each.

Which is cheaper, JUNM or XBJL?

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

Data as of Nov 4, 2026.

Buffer ETFs

JUNM vs XBJL: Cap, Buffer & Days Left

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As of Nov 4, 2026 XBJL can fall 3.5% before its buffer engages and JUNM 2.3%, and JUNM resets 13 days sooner.

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Net assets: $66m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - June, and $77m on Nov 4, 2026 for Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul.

JUNM on its own →XBJL on its own →

At a glance

2.3%

JUNM can fall this far before its buffer

3.5%

XBJL can fall this far before its buffer

4.9%

JUNM can still gain

9.9%

XBJL can still gain

JUNM Full floor

JUNM: reference +2.7% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

XBJL Between buffer and cap

XBJL: reference +2.6% since period start, fund +3.3%; buffer 0 to −9; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

XBJL costs 0.06 points a year less; their one-year returns differ by 5.1 points; XBJL is 1.2 times larger.

Points (pts) are percentage points.

JUNM vs XBJL: Cap, Buffer & Days Left
Measure	JUNM	XBJL
Return
Measure	JUNM	XBJL
Total return, 1 year	+4.8%	+9.9%
Drawdown
Measure	JUNM	XBJL
Index fall to the buffer	2.6%
Benchmark
Measure	JUNM	XBJL
What it tracks	SPY	SPY
Cost and size
Measure	JUNM	XBJL
Expense ratio	0.85%	0.79%
Net assets, as of Nov 3, 2026	$66m	$77m
Holdings
Measure	JUNM	XBJL
Holdings in common	not published

Method

Window by window

Window by window: JUNM vs XBJL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	JUNM	XBJL	JUNM	XBJL
3 months	+0.7%	+1.4%	+1.0 pts	+1.8 pts
6 months	+2.0%	+4.3%	−2.5 pts	−0.2 pts
1 year	+4.8%	+9.9%	−8.7 pts	−3.6 pts
3 years	–	+42.8%	–	−33.6 pts
Since launchNot the same days: JUNM Jun 2024 · XBJL Jul 2021	+16.6%	+60.3%	−24.7 pts	−17.8 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

JUNM FT Vest U.S. Equity Max Buffer ETF - June · Absorbs the whole loss on SPY and caps the gain at 7.3%, over a period ending Jun 17, 2027 XBJL Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul · Absorbs the first 9% of loss on SPY and caps the gain at 13.8%, over a period ending Jun 30, 2027

Issuer First Trust Innovator

Reference index SPY SPY

Buffer 100% 9%

Outcome period Jun 22, 2026 to Jun 17, 2027 Jun 30, 2026 to Jun 30, 2027

Days left 225 238

Starting cap +7.3% +13.8%

Can still gain 4.9% 9.9%

Fall before buffer 2.3% 3.5%

Protection left, index points 100.0% of 100.0% 9.0% of 9.0%

Index return this period +2.7% +2.6%

Fund return this period +1.5% +3.3%

State today Open Open

Expense ratio 0.85% 0.79%

Net assets, JUNM as of Nov 3, 2026 and XBJL as of Nov 4, 2026 $66m $77m

As of Nov 4, 2026. Source: ETFIQ.

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

JUNM resets first, on Jun 17, 2027, 225 days from now; XBJL runs to Jun 30, 2027, 238 days. JUNM can still gain 4.9% before its cap, XBJL 9.9%. A fall from here reaches JUNM’s buffer after 2.3% and XBJL’s after 3.5%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

JUNM

From its price on Nov 4, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 2.3% 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: 100.0% of the 100.0% buffer still sits below today's SPY level. 225 days remained on Nov 4, 2026. On Jun 17, 2027 the period ends and a new cap is set.

XBJL

From its price on Nov 4, 2026, the fund can gain about 9.9% more before it reaches its cap. The fund's price can fall 3.5% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 9.0% of the 9.0% 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.

Questions people ask

Which has more room to gain, JUNM or XBJL?: From their prices on Nov 4, 2026, JUNM can gain about 4.9% before its cap and XBJL about 9.9%, so XBJL has more room left this period.
Which resets first, JUNM or XBJL?: JUNM ends its outcome period on Jun 17, 2027 and XBJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, JUNM or XBJL?: JUNM charges 0.85% a year and XBJL charges 0.79%, so XBJL is cheaper. Fees come from each fund's prospectus.

Other comparisons

JUNM vs PBJL JUNM vs DDTL JUNM vs AJUL JUNM vs TJUL XBJL vs CPSJ XBJL vs DDTL XBJL vs AJUL XBJL vs XJUN

Where to next

State Street® SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →JUNM on its own →XBJL on its own →Method →Standards and sources →

Sources and dates

JUNM filings on SEC EDGAR ↗

First Trust page for JUNM ↗

XBJL filings on SEC EDGAR ↗

Innovator page for XBJL ↗

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.

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ETFIQ, JUNM against XBJL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/junm-vs-xbjl

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