Which has more room to gain, QBSF or XBJA?

From their prices on Oct 1, 2026, QBSF can gain about 2.7% before its cap and XBJA about 2.6%, so QBSF has more room left this period.

Which resets first, QBSF or XBJA?

QBSF ends its outcome period on Dec 31, 2026 and XBJA on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, QBSF or XBJA?

QBSF charges 0.64% a year and XBJA charges 0.79%, so QBSF is cheaper. Fees come from each fund's prospectus.

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QBSF vs XBJA: which one stands where?

As of Oct 1, 2026 XBJA can fall 8.4% before its buffer engages and QBSF 0.2%. AllianzIM U.S. Equity Buffer15 ETF - Jan and Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan.

0.2%

QBSF can fall this far before its buffer

8.4%

XBJA can fall this far before its buffer

2.7%

QBSF can still gain

2.6%

XBJA can still gain

QBSFBetween buffer and cap

QBSF: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +2.9%; Between buffer and cap.

XBJABetween buffer and cap

XBJA: reference +11.8% since period start, fund +8.5%; buffer 0 to −9; cap +11.9%; Between buffer and cap.

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

QBSF resets first, on Dec 31, 2026, 92 days from now; XBJA runs to Dec 31, 2026, 92 days. QBSF can still gain 2.7% before its cap, XBJA 2.6%. A fall from here reaches QBSF’s buffer after 0.2% and XBJA’s after 8.4%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	QBSF	XBJA	QBSF	XBJA
3 months	+1.9%	+2.7%	−0.6 pts	+0.2 pts
6 months	+4.8%	+10.2%	−12.2 pts	−6.8 pts
1 year	+7.2%	+10.9%	−8.5 pts	−4.8 pts
3 years	not published	+40.1%	not published	−44.9 pts

QBSF and XBJA over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

QBSF

AllianzIM U.S. Equity Buffer15 ETF - Jan · Absorbs the first 15% of loss on SPY and caps the gain at 2.9%, over a period ending Dec 31, 2026

XBJA

Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 11.9%, over a period ending Dec 31, 2026

Issuer AllianzIM Innovator

Reference index SPY SPY

Buffer 15% 9%

Outcome period Oct 1, 2026 to Dec 31, 2026 Dec 31, 2025 to Dec 31, 2026

Days left 92 92

Starting cap +2.9% +11.9%

Can still gain 2.7% 2.6%

Fall before buffer 0.2% 8.4%

Protection left, index points 15.0% of 15.0% 9.0% of 9.0%

Index return this period 0.0% +11.8%

Fund return this period 0.0% +8.5%

State today Open Open

Expense ratio 0.64% 0.79%

Net assets $62m $94m

QBSF and XBJA on the same fields, as of Oct 1, 2026. Source: ETFIQ.

QBSF in plain words

From its price on Oct 1, 2026, the fund can gain about 2.7% more before it reaches its cap. The fund's price can fall 0.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.0% 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. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

XBJA in plain words

From its price on Oct 1, 2026, the fund can gain about 2.6% more before it reaches its cap. The fund's price can fall 8.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, QBSF or XBJA?: From their prices on Oct 1, 2026, QBSF can gain about 2.7% before its cap and XBJA about 2.6%, so QBSF has more room left this period.
Which resets first, QBSF or XBJA?: QBSF ends its outcome period on Dec 31, 2026 and XBJA on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, QBSF or XBJA?: QBSF charges 0.64% a year and XBJA charges 0.79%, so QBSF is cheaper. Fees come from each fund's prospectus.

Other comparisons

QBSF vs DDEC QBSF vs DDFJ QBSF vs DDFO QBSF vs DDSQ XBJA vs DDSQ XBJA vs DDTJ XBJA vs DECM XBJA vs EALT

SPDR® S&P 500® ETF Trust →QBSF on its own →XBJA on its own →How every figure is computed →Standards and sources →

Where these figures came from

QBSF filings on SEC EDGAR ↗AllianzIM page for QBSF ↗XBJA filings on SEC EDGAR ↗Innovator page for XBJA ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, QBSF against XBJA, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/qbsf-vs-xbja

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.