Which has more room to gain, JUNP or PJUN?

From their prices on Nov 4, 2026, JUNP can gain about 13.0% before its cap and PJUN about 11.2%, so JUNP has more room left this period.

Which resets first, JUNP or PJUN?

JUNP ends its outcome period on May 31, 2027 and PJUN on May 31, 2027. A new cap is set the day after each.

Which is cheaper, JUNP or PJUN?

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

Data as of Nov 4, 2026.

Buffer ETFs

JUNP vs PJUN: Cap, Buffer & Days Left

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As of Nov 4, 2026 JUNP can fall 2.5% before its buffer engages and PJUN 2.4%.

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Net assets on Nov 4, 2026: $103m for PGIM S&P 500 Buffer 12 ETF - June and $878m for Innovator U.S. Equity Power Buffer ETF - Jun.

JUNP on its own →PJUN on its own →

At a glance

2.5%

JUNP can fall this far before its buffer

2.4%

PJUN can fall this far before its buffer

13.0%

JUNP can still gain

11.2%

PJUN can still gain

JUNP Between buffer and cap

JUNP: reference +1.4% since period start, fund +2.1%; buffer 0 to −12; cap +15.9%; Between buffer and cap. Data to Nov 4, 2026.

PJUN Between buffer and cap

PJUN: reference +1.3% since period start, fund +2.1%; buffer 0 to −15; cap +13.8%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

JUNP costs 0.29 points a year less; their one-year returns differ by 0.8 points; PJUN is 8.5 times larger.

Points (pts) are percentage points.

JUNP vs PJUN: Cap, Buffer & Days Left
Measure	JUNP	PJUN
Return
Measure	JUNP	PJUN
Total return, 1 year	+8.0%	+7.2%
Drawdown
Measure	JUNP	PJUN
Index fall to the buffer	1.4%	1.3%
Benchmark
Measure	JUNP	PJUN
What it tracks	SPY	SPY
Cost and size
Measure	JUNP	PJUN
Expense ratio	0.50%	0.79%
Net assets	$103m	$878m
Holdings
Measure	JUNP	PJUN
Holdings in common	not published

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

IQ Buffer Score57.5JUNP83.2PJUN

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

JUNP 57.5

PJUN 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

Risk and return

Jun 14, 2024 to Oct 30, 2026 · 124 weekly returns · each against SPY

JUNP PJUN

Return

Total return edge JUNP (slight) +26.3% +23.7%

Annualized edge JUNP (slight) +10.3% +9.3%

Price return edge JUNP (slight) +26.3% +23.7%

Risk

Volatility edge PJUN 9.8% 7.5%

Max drawdown edge PJUN −10.1% −8.9%

Downside capture 63.5% 49.7%

Beta 0.59 0.48

Risk-adjusted

Sharpe edge PJUN (slight) 0.62 0.67

Sortino edge PJUN (slight) 0.92 1.01

Treynor 0.102 0.105

Calmar edge PJUN (slight) 1.02 1.04

Against the benchmark

Alpha −1.1% a year −0.7% a year

Alpha t-stat −0.37 −0.45

Information ratio −0.80 −0.86

Tracking error 7.5% 8.1%

Reading

From Jun 2024 to Oct 2026, JUNP returned slightly more: +26.3% to +23.7%. PJUN swung less: 7.5% to 9.8%. PJUN fell less at its worst: −8.9% to −10.1%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: JUNP vs PJUN: Cap, Buffer & Days Left
Measure	JUNP	PJUN	SPY	Edge	How it is measured
Return
Total return	+26.3%	+23.7%		JUNP (slight)	Price change plus distributions, reinvested.
Annualized	+10.3%	+9.3%		JUNP (slight)	Total return as a yearly rate.
Price return	+26.3%	+23.7%		JUNP (slight)	Price change alone, distributions left out.
Risk
Volatility	9.8%	7.5%		PJUN	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	6.6%	5.0%		PJUN	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−10.1%	−8.9%		PJUN	Deepest fall from a high to the low after it.
Upside capture	47.4%	36.2%	100.0%	JUNP	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	63.5%	49.7%	100.0%	PJUN	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.59	0.48	1.00	PJUN lower	How far it moves for each 1% its benchmark moves.
R squared	0.80	0.89	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.62	0.67		PJUN (slight)	Return above Treasury bills per unit of volatility.
Sortino	0.92	1.01		PJUN (slight)	Return above Treasury bills per unit of downside deviation.
Treynor	0.102	0.105	0.120	PJUN (slight)	Return above Treasury bills per unit of beta.
Calmar	1.02	1.04		PJUN (slight)	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	SPY	SPY	SPY		The ETF each fund is measured against.
Alpha	−1.1% a year	−0.7% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.37	−0.45		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−6.8% to +4.6%	−3.9% to +2.5%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.80	−0.86		JUNP (slight)	Return against its benchmark per unit of tracking error.
Tracking error	7.5%	8.1%	0.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 124 weekly returns. Cash rate: the 13-week Treasury bill.

Window by window

Window by window: JUNP vs PJUN: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	JUNP	PJUN	JUNP	PJUN
3 months	+0.3%	+0.6%	+0.7 pts	+1.0 pts
6 months	+2.4%	+2.2%	−2.1 pts	−2.3 pts
1 year	+8.0%	+7.2%	−5.5 pts	−6.4 pts
3 years	–	+39.3%	–	−37.1 pts
Since launchNot the same days: JUNP Jun 2024 · PJUN Jun 2019	+29.6%	+74.0%	−15.7 pts	−105.2 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

JUNP PGIM S&P 500 Buffer 12 ETF - June · Absorbs the first 12% of loss on SPY and caps the gain at 15.9%, over a period ending May 31, 2027 PJUN Innovator U.S. Equity Power Buffer ETF - Jun · Absorbs the first 15% of loss on SPY and caps the gain at 13.8%, over a period ending May 31, 2027

Issuer PGIM Innovator

Reference index SPY SPY

Buffer 12% 15%

Outcome period Jun 1, 2026 to May 31, 2027 May 31, 2026 to May 31, 2027

Days left 208 208

Starting cap +15.9% +13.8%

Can still gain 13.0% 11.2%

Fall before buffer 2.5% 2.4%

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

Index return this period +1.4% +1.3%

Fund return this period +2.1% +2.1%

State today Open Open

Expense ratio 0.50% 0.79%

Net assets $103m $878m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

JUNP resets first, on May 31, 2027, 208 days from now; PJUN runs to May 31, 2027, 208 days. JUNP can still gain 13.0% before its cap, PJUN 11.2%. A fall from here reaches JUNP’s buffer after 2.5% and PJUN’s after 2.4%. Both track SPY, so what separates them is where each is in its own period.

Client brief:

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About each fund

JUNP

From its price on Nov 4, 2026, the fund can gain about 13.0% more before it reaches its cap. The fund's price can fall 2.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% 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. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and a new cap is set.

PJUN

From its price on Nov 4, 2026, the fund can gain about 11.2% more before it reaches its cap. The fund's price can fall 2.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% 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 SPY level.

Questions people ask

Which has more room to gain, JUNP or PJUN?: From their prices on Nov 4, 2026, JUNP can gain about 13.0% before its cap and PJUN about 11.2%, so JUNP has more room left this period.
Which resets first, JUNP or PJUN?: JUNP ends its outcome period on May 31, 2027 and PJUN on May 31, 2027. A new cap is set the day after each.
Which is cheaper, JUNP or PJUN?: JUNP charges 0.50% a year and PJUN charges 0.79%, so JUNP is cheaper. Fees come from each fund's prospectus.

Other comparisons

JUNP vs FMAY JUNP vs DMAY JUNP vs JUNW JUNP vs BJUN PJUN vs UOCT PJUN vs BJAN PJUN vs BOCT PJUN vs BJUL

Where to next

SPDR S&P 500 ETF Trust →JUNP on its own →PJUN on its own →Method →Standards and sources →

Sources and dates

JUNP filings on SEC EDGAR ↗

PGIM website ↗

PJUN filings on SEC EDGAR ↗

Innovator page for PJUN ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, JUNP against PJUN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/junp-vs-pjun

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