IQ

Data as of Nov 4, 2026.

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

PBJL vs PJUL: Cap, Buffer & Days Left

Share
Share on XDownload as PDF

As of Nov 4, 2026 PBJL can fall 2.9% before its buffer engages and PJUL 2.7%.

askIQ about this page

askIQ about PBJL and PJUL

Net assets on Nov 4, 2026: $74m for PGIM S&P 500 Buffer 20 ETF - July and $1.3bn for Innovator U.S. Equity Power Buffer ETF - Jul.

PBJL on its own →PJUL on its own →
At a glance
2.9%
PBJL can fall this far before its buffer
2.7%
PJUL can fall this far before its buffer
9.2%
PBJL can still gain
10.9%
PJUL can still gain
PBJL Between buffer and cap
Between buffer and capPBJL: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer+2.7%+9.6% more to the cap−20.0% floor0% period start+12.3% capTODAY · SPY +2.7%Between buffer and capPBJL: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer−20.0% floor0% start+12.3% cap+2.7% gain captured+9.6% more to the capTODAY · SPY +2.7%

PBJL: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.

PBJL: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.
PJUL Between buffer and cap
Between buffer and capPJUL: reference +2.6% since period start, fund +2.5%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+2.6%+11.3% more to the cap−15.0% floor0% period start+14.0% capTODAY · SPY +2.6%Between buffer and capPJUL: reference +2.6% since period start, fund +2.5%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.15 pts−15.0% floor0% start+14.0% cap+2.6% gain captured+11.3% more to the capTODAY · SPY +2.6%

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.

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

PBJL costs 0.29 points a year less; their one-year returns differ by 0.8 points; PJUL is 17.6 times larger.

Points (pts) are percentage points.

PBJL vs PJUL: Cap, Buffer & Days Left
MeasurePBJLPJUL
Return
Total return, 1 year+8.5%+9.3%
Drawdown
Index fall to the buffer2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.79%
Net assets$74m$1.3bn
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PBJL scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score94PBJL83.2PJUL

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

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: PBJL vs PJUL: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowPBJLPJULPBJLPJUL
3 months+0.8%+0.6%+1.2 pts+1.0 pts
6 months+3.5%+3.9%−0.9 pts−0.6 pts
1 year+8.5%+9.3%−5.0 pts−4.2 pts
3 years–+46.5%–−29.9 pts
Since launchNot the same days: PBJL May 2024 · PJUL Aug 2018+28.0%+100.8%−20.2 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

PBJL PGIM S&P 500 Buffer 20 ETF - July · Absorbs the first 20% of loss on SPY and caps the gain at 12.3%, 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 20% 15%
Outcome period Jul 1, 2026 to Jun 30, 2027 Jun 30, 2026 to Jun 30, 2027
Days left 238 238
Starting cap +12.3% +14.0%
Can still gain 9.2% 10.9%
Fall before buffer 2.9% 2.7%
Protection left, index points 20.0% of 20.0% 15.0% of 15.0%
Index return this period +2.7% +2.6%
Fund return this period +2.4% +2.5%
State today Open Open
Expense ratio 0.50% 0.79%
Net assets $74m $1.3bn

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

PBJL resets first, on Jun 30, 2027, 238 days from now; PJUL runs to Jun 30, 2027, 238 days. PBJL can still gain 9.2% before its cap, PJUL 10.9%. A fall from here reaches PBJL’s buffer after 2.9% and PJUL’s after 2.7%. Both track SPY, so what separates them is where each is in its own period.

Alert

PBJL and PJUL flows, by email on Sundays.

One-click unsubscribe. See Privacy.

About each fund
PBJL

From its price on Nov 4, 2026, the fund can gain about 9.2% more before it reaches its cap. The fund's price can fall 2.9% 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: 20.0% of the 20.0% 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, PBJL or PJUL?
From their prices on Nov 4, 2026, PBJL can gain about 9.2% before its cap and PJUL about 10.9%, so PJUL has more room left this period.
Which resets first, PBJL or PJUL?
PBJL 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, PBJL or PJUL?
PBJL charges 0.50% a year and PJUL charges 0.79%, so PBJL is cheaper. Fees come from each fund's prospectus.
Other comparisons
PBJL vs FJUNPBJL vs DJUNPBJL vs CTJLPBJL vs CJULPJUL vs UOCTPJUL vs DAPRPJUL vs CTJLPJUL vs CJUL
Where to next
SPDR S&P 500 ETF Trust →PBJL on its own →PJUL on its own →Method →Standards and sources →
Sources and dates
PBJL 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.

Cite this pageCitation, APA and Markdown

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

Open data →

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