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Data as of Nov 4, 2026.

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Buffer ETFs

PBJN vs UJUN: Cap, Buffer & Days Left

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As of Nov 4, 2026 UJUN can fall 7.0% before its buffer engages and PBJN 2.5%.

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Net assets on Nov 4, 2026: $59m for PGIM S&P 500 Buffer 20 ETF - June and $185m for Innovator U.S. Equity Ultra Buffer ETF - Jun.

PBJN on its own →UJUN on its own →
At a glance
2.5%
PBJN can fall this far before its buffer
7.0%
UJUN can fall this far before its buffer
9.3%
PBJN can still gain
11.7%
UJUN can still gain
PBJN Between buffer and cap
Between buffer and capPBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer+10.7% to cap−20.0% floor0% period start+12.1% cap+1.4% gain capturedTODAY · SPY +1.4%Between buffer and capPBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.20 pts−20.0% floor0% start+12.1% cap+1.4% gain captured+10.7% more to the capTODAY · SPY +1.4%

PBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.

PBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.
UJUN Between buffer and cap
Between buffer and capUJUN: reference +1.3% since period start, fund +1.7%; buffer −5 to −35; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.30 pts of buffer+12.7% more to the cap−35.0% floor−5.0% buffer start0% period start+14.0% capfirst 5 pts are yours to lose+1.3% gain capturedTODAY · SPY +1.3%Between buffer and capUJUN: reference +1.3% since period start, fund +1.7%; buffer −5 to −35; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.30 pts of buffer−35.0% floor−5.0% buffer start0% start+14.0% capfirst 5 pts are yours to lose+1.3% gain captured+12.7% more to the capTODAY · SPY +1.3%

UJUN: reference +1.3% since period start, fund +1.7%; buffer −5 to −35; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.

UJUN: reference +1.3% since period start, fund +1.7%; buffer −5 to −35; cap +14.0%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PBJN costs 0.29 points a year less; their one-year returns differ by 0.5 points; UJUN is 3.1 times larger.

Points (pts) are percentage points.

PBJN vs UJUN: Cap, Buffer & Days Left
MeasurePBJNUJUN
Return
Total return, 1 year+7.0%+6.5%
Drawdown
Index fall to the buffer1.4%6.2%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.79%
Net assets$59m$185m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PBJN scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score95.7PBJN68UJUN

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: PBJN vs UJUN: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowPBJNUJUNPBJNUJUN
3 months+0.6%+0.2%+1.0 pts+0.6 pts
6 months+2.4%+1.9%−2.1 pts−2.6 pts
1 year+7.0%+6.5%−6.6 pts−7.0 pts
3 years–+37.1%–−39.3 pts
Since launchNot the same days: PBJN Jun 2024 · UJUN Jun 2019+25.9%+60.6%−19.3 pts−118.7 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

PBJN PGIM S&P 500 Buffer 20 ETF - June · Absorbs the first 20% of loss on SPY and caps the gain at 12.1%, over a period ending May 31, 2027 UJUN Innovator U.S. Equity Ultra Buffer ETF - Jun · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 14.0%, over a period ending May 31, 2027
Issuer PGIM Innovator
Reference index SPY SPY
Buffer 20% 5% to 35%
Outcome period Jun 1, 2026 to May 31, 2027 May 31, 2026 to May 31, 2027
Days left 208 208
Starting cap +12.1% +14.0%
Can still gain 9.3% 11.7%
Fall before buffer 2.5% 7.0%
Protection left, index points 20.0% of 20.0% 30.0% of 30.0%
Index return this period +1.4% +1.3%
Fund return this period +2.0% +1.7%
State today Open Open
Expense ratio 0.50% 0.79%
Net assets $59m $185m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

PBJN resets first, on May 31, 2027, 208 days from now; UJUN runs to May 31, 2027, 208 days. PBJN can still gain 9.3% before its cap, UJUN 11.7%. A fall from here reaches PBJN’s buffer after 2.5% and UJUN’s after 7.0%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
PBJN

From its price on Nov 4, 2026, the fund can gain about 9.3% 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: 20.0% of the 20.0% 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.

UJUN

From its price on Nov 4, 2026, the fund can gain about 11.7% more before it reaches its cap. The fund's price can fall 7.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.2% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, PBJN or UJUN?
From their prices on Nov 4, 2026, PBJN can gain about 9.3% before its cap and UJUN about 11.7%, so UJUN has more room left this period.
Which resets first, PBJN or UJUN?
PBJN ends its outcome period on May 31, 2027 and UJUN on May 31, 2027. A new cap is set the day after each.
Which is cheaper, PBJN or UJUN?
PBJN charges 0.50% a year and UJUN charges 0.79%, so PBJN is cheaper. Fees come from each fund's prospectus.
Other comparisons
PBJN vs PMJNPBJN vs ZJUNPBJN vs DDFZPBJN vs BJUNUJUN vs DDFZUJUN vs ZJUNUJUN vs BJUNUJUN vs DLMY
Where to next
SPDR S&P 500 ETF Trust →PBJN on its own →UJUN on its own →Method →Standards and sources →
Sources and dates
PBJN filings on SEC EDGAR ↗
PGIM website ↗
UJUN filings on SEC EDGAR ↗
Innovator page for UJUN ↗

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, PBJN against UJUN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pbjn-vs-ujun

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