Data as of Nov 4, 2026.
PMJL vs UJUL: Cap, Buffer & Days Left
As of Nov 4, 2026 UJUL can fall 7.3% before its buffer engages and PMJL 2.1%.
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Net assets on Nov 4, 2026: $7.0m for PGIM S&P 500 Max Buffer ETF - July and $307m for Innovator U.S. Equity Ultra Buffer ETF - Jul.
PMJL: reference +2.7% since period start, fund +1.7%; buffer Floor; cap +8.0%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.UJUL: reference +2.6% since period start, fund +2.2%; buffer −5 to −35; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.
UJUL: reference +2.6% since period start, fund +2.2%; buffer −5 to −35; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
PMJL costs 0.29 points a year less; their one-year returns differ by 2.9 points; UJUL is far larger, $307m against $7.0m.
Points (pts) are percentage points.
| Measure | PMJL | UJUL |
|---|---|---|
| Return | ||
| Total return, 1 year | +5.7% | +8.6% |
| Drawdown | ||
| Index fall to the buffer | 2.6% | 7.4% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.50% | 0.79% |
| Net assets | $7.0m | $307m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PMJL | UJUL | PMJL | UJUL |
| 3 months | +0.7% | +0.4% | +1.1 pts | +0.8 pts |
| 6 months | +2.5% | +3.5% | −2.0 pts | −1.0 pts |
| 1 year | +5.7% | +8.6% | −7.8 pts | −4.9 pts |
| 3 years | – | +45.6% | – | −30.8 pts |
| Since launchNot the same days: PMJL Jul 2025 · UJUL Aug 2018 | +8.3% | +75.8% | −15.9 pts | −92.9 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. PMJL is a floor fund, which caps how far a holder can fall. UJUL 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
PMJL resets first, on Jun 30, 2027, 238 days from now; UJUL runs to Jun 30, 2027, 238 days. PMJL can still gain 5.7% before its cap, UJUL 11.4%. A fall from here reaches PMJL’s buffer after 2.1% and UJUL’s after 7.3%. Both track SPY, so what separates them is where each is in its own period.
PMJL
From its price on Nov 4, 2026, the fund can gain about 5.7% more before it reaches its cap. The fund's price can fall 2.1% 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: 100.0% of the 100.0% 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.
UJUL
From its price on Nov 4, 2026, the fund can gain about 11.4% more before it reaches its cap. The fund's price can fall 7.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.4% 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
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, PMJL against UJUL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pmjl-vs-ujul
ETFIQ. (Nov 4, 2026). PMJL against UJUL. Retrieved from https://etfiq.com/compare/buffer/pmjl-vs-ujul
[PMJL against UJUL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/pmjl-vs-ujul)
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