Data as of .
UJAN vs XDEC: which one stands where?
As of Sep 19, 2026 UJAN can fall 11.9% before its buffer engages and XDEC 7.4%, and XDEC resets 13 days sooner.
These are two different products. XDEC is a floor fund, which caps how far a holder can fall. UJAN 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
XDEC resets first, on Dec 18, 2026, 91 days from now; UJAN runs to Dec 31, 2026, 104 days. UJAN can still gain 3.4% before its cap, XDEC 1.9%. A fall from here reaches UJAN’s buffer after 11.9% and XDEC’s after 7.4%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| UJAN | XDEC | UJAN | XDEC | |
| 3 months | +2.2% | +2.2% | 0.0 pts | −0.1 pts |
| 6 months | +9.4% | +8.9% | −8.7 pts | −9.1 pts |
| 1 year | +10.4% | +9.4% | −6.2 pts | −7.2 pts |
| 3 years | +39.6% | +31.6% | −38.8 pts | −46.8 pts |
| UJAN Innovator U.S. Equity Ultra Buffer ETF - Jan Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 11.4%, over a period ending Dec 31, 2026 | XDEC FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December Absorbs the first 15% of loss on SPY and caps the gain at 10.1%, over a period ending Dec 18, 2026 | |
|---|---|---|
| Issuer | Innovator | First Trust |
| Reference index | SPY | SPY |
| Buffer | 5% to 35% | 15% |
| Outcome period | Dec 31, 2025 to Dec 31, 2026 | Dec 22, 2025 to Dec 18, 2026 |
| Days left | 104 | 91 |
| Starting cap | +11.4% | +10.1% |
| Can still gain | 3.4% | 1.9% |
| Fall before buffer | 11.9% | 7.4% |
| Protection left, index points | 30.0% of 30.0% | 15.0% of 15.0% |
| Index return this period | +11.7% | +11.9% |
| Fund return this period | +7.2% | +7.1% |
| State today | At cap | At cap |
| Expense ratio | 0.79% | 0.85% |
| Net assets | $254m | $201m |
UJAN in plain words
SPY had already risen past this fund's cap of +11.4% for the period on Sep 19, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.4% as the period runs out. The fund's price can fall 11.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.0% 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. 104 days remained on Sep 19, 2026. On Dec 31, 2026 the period ends and a new cap is set.
XDEC in plain words
SPY had already risen past this fund's cap of +10.1% for the period on Sep 19, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.9% as the period runs out. The fund's price can fall 7.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.7% 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. 91 days remained on Sep 19, 2026. On Dec 18, 2026 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, UJAN or XDEC?
- From their prices on Sep 19, 2026, UJAN can gain about 3.4% before its cap and XDEC about 1.9%, so UJAN has more room left this period.
- Which resets first, UJAN or XDEC?
- UJAN ends its outcome period on Dec 31, 2026 and XDEC on Dec 18, 2026. A new cap is set the day after each.
- Which is cheaper, UJAN or XDEC?
- UJAN charges 0.79% a year and XDEC charges 0.85%, so UJAN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, UJAN against XDEC, data as of Sep 19, 2026. https://etfiq.com/compare/buffer/ujan-vs-xdec Free to use with attribution; the underlying files are at Open data.