How much can TJUL still gain?

Nothing more in index terms on Oct 28, 2026. SPY has already passed the cap of +13.6% for this period, which runs from Jun 30, 2025 to Jun 30, 2027.

How far can TJUL fall before the buffer helps?

8.0% in fund-price terms on Oct 28, 2026, by the issuer's number. In index terms SPY can fall 19.9% from that level before the buffer begins. Losses until that point are the holder's.

How much of the TJUL buffer is left?

100.0% of the 100.0% buffer sat below the SPY level on Oct 28, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

When does TJUL reset?

The outcome period ends on Jun 30, 2027, 245 days from the data on Oct 28, 2026. A new cap is set the next day and the buffer starts again.

The prospectus expense ratio is 0.79% a year.

TJUL Innovator Equity Defined Protection ETF - Jul 2027

Share ▾

Share on X Download as PDF

$30.79

+0.1% · 1 day, price

IQ’s readingComputed nightly from ETFIQ data. Not written live.

Since Jun 30, 2025, TJUL returned 7.4%, against SPY's 24.9% price return. It can gain 4.7% more before its cap.

Why did TJUL return +23.3% against SPY’s +73.1%?How much of TJUL’s cap and buffer is left?What do TJUL’s net flows of $0 over the since Oct 2026 mean?

Absorbs the whole loss on SPY and caps the gain at 13.6%, over a period ending Jun 30, 2027Innovator ↗Expense ratio 0.79%Fund assets $114m on Oct 28, 2026Benchmark SPYFund page at the issuer ↗SEC filings ↗Every Innovator fund ETFIQ covers

Promise check: Not measuredNo outcome period of its has finished in ETFIQ's record (snapshots from Sep 4, 2026).

Compare with…Trading costs Put to the committee askIQ about TJUL Add to portfolio Flows Alerts

TJUL risk and return scorecard

vs SPY · Jul 2023 to Oct 2026 · 169 weekly returns · dividend-adjusted

3.2 years

TJUL +23.3%, SPY +73.1%, Jul 2023 to Oct 2026, distributions reinvested.

Return

MeasureTJULSPYEdge

Total return+23.3%+73.1%SPY

Annualized+6.6%+18.4%SPY

Price return+23.3%+66.3%SPY

Risk

MeasureTJULSPYEdge

Volatility3.6%14.2%TJUL

Max drawdown−3.6%−16.9%TJUL

Upside capture17.5%100.0%SPY

Downside capture22.3%100.0%TJUL

Risk-adjusted

MeasureTJULSPYEdge

Sharpe ratio0.540.94SPY

Sortino ratio0.791.45SPY

Alpha vs SPY

MeasureTJULSPYEdge

Alpha, a year−1.1%Not significant

Alpha t-stat−1.13

Beta to SPY0.231.00Lower beta

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records; risk-free rate: U.S. Treasury, Daily Treasury Bill Rates, 13-week coupon equivalent Method · Data

Money in and out

Net fund flows · Oct 26, 2026

Last 4 trading days

Since Oct 2026

No money in or out. 52 days missing.

askIQ: what do these flows mean? ↗

What you earned

TJUL +0.5%, SPY price return +0.9%: total return over one month to Oct 28, 2026.

TJUL

+0.5%

SPY

+0.9%

TJUL +1.7%, SPY price return +5.9%: total return over three months to Oct 28, 2026.

TJUL

+1.7%

SPY

+5.9%

TJUL +2.8%, SPY price return +8.5%: total return over six months to Oct 28, 2026.

TJUL

+2.8%

SPY

+8.5%

TJUL +4.1%, SPY price return +13.3%: total return over the year to Oct 28, 2026.

TJUL

+4.1%

SPY

+13.3%

TJUL +4.2%, SPY price return +12.4%: total return over one year to Oct 28, 2026.

TJUL

+4.2%

SPY

+12.4%

TJUL +27.3%, SPY price return +88.1%: total return over three years to Oct 28, 2026.

TJUL

+27.3%

SPY

+88.1%

TJUL +23.6%, SPY price return +70.0%: total return since launch to Oct 28, 2026.

TJUL

+23.6%

SPY

+70.0%

askIQ: why did TJUL return +4.2% against SPY’s +12.4%? ↗

Where does it stand in this outcome period?

Outcome period Jun 30, 2025 to Jun 30, 2027

4.7%

Can still gain from today’s fund price

as of Oct 28, 2026

Report

8.0%

Fall before the buffer from today’s fund price

as of Oct 28, 2026

Report

100.0%

Protection left, index points

Report

245

Days to reset

as of Oct 28, 2026

Report

Today +24.9%−100% floor0%+13.6% cap

askIQ: how much of TJUL’s cap and buffer is left? ↗

More on TJUL

Every number below is on this page. Open what you need.

Price, 1 year

$30.79+0.1%1 day, priceClose, Oct 28, 2026

0%2%4%Price +4.2%

Oct 28, 2025Oct 28, 2026

Price +4.2%

Price only. No distribution was paid over these days, so total return is the same. Computed by ETFIQ from Tiingo daily prices.

Source: Tiingo end-of-day prices. Data as of Oct 28, 2026. Updated every trading night. Report a data error

Points (pts) are percentage points.

TJUL returns by window: total return, cash paid and price change
Window	Total return	SPY price return	Gap to SPY
1M Sep 28 – Oct 28, 2026	+0.5%	+0.9%	−0.4 pts
3M Jul 29 – Oct 28, 2026	+1.7%	+5.9%	−4.2 pts
6M Apr 29 – Oct 28, 2026	+2.8%	+8.5%	−5.7 pts
YTD Dec 31, 2025 – Oct 28, 2026	+4.1%	+13.3%	−9.2 pts
1Y Oct 28, 2025 – Oct 28, 2026	+4.2%	+12.4%	−8.2 pts
3Y Oct 27, 2023 – Oct 28, 2026	+27.3%	+88.1%	−60.8 pts
Since launch Jul 18, 2023 – Oct 28, 2026	+23.6%	+70.0%	−46.4 pts
Since launch, annualised Jul 18, 2023 – Oct 28, 2026	+6.7%	–	–

Total returns, distributions reinvested. SPY's column is its price return, dividends left out: the basis the outcome period uses.

Source: Tiingo end-of-day prices, with distributions reinvested.

At its cap

TJUL: reference +24.9% since period start, fund +7.4%; buffer Floor; cap +13.6%; At its cap. Data to Oct 28, 2026.

Money in and out

Daily data · as of Oct 26, 2026

TJUL: in the 12 trading days to Oct 26, 2026, nothing net moved.

0.0% of $115m on Oct 20, 2026
Oct 21, 2026 to Oct 26, 2026

Since Oct 2026

Oct 9, 2026 to Oct 26, 2026

Net flow each trading day

3M1Y400 days

TJUL, net flow each trading day over the 64 sessions from Jul 28, 2026 to Oct 26, 2026: money came in on 0 days and went out on 0 days, of the 12 days with daily data; the other 52 have none. Before Oct 6, 2026 ETFIQ has the fund’s monthly data only, from SEC filings: that span is shaded and draws no bars, and its months are in the month by month list.

No money in or out. 52 days missing.

TJUL, net flow each trading day over the 250 sessions from Oct 28, 2025 to Oct 26, 2026: money came in on 0 days and went out on 0 days, of the 12 days with daily data; the other 238 have none. Before Oct 6, 2026 ETFIQ has the fund’s monthly data only, from SEC filings: that span is shaded and draws no bars, and its months are in the month by month list.

No money in or out. 238 days missing.

TJUL, net flow each trading day over the 400 sessions from Mar 25, 2025 to Oct 26, 2026: money came in on 0 days and went out on 0 days, of the 12 days with daily data; the other 388 have none. Before Oct 6, 2026 ETFIQ has the fund’s monthly data only, from SEC filings: that span is shaded and draws no bars, and its months are in the month by month list.

No money in or out. 388 days missing.

Money in, netMoney out, netMonthly basis

Daily data starts Oct 9, 2026.

How this is computed

Computed by ETFIQ from Innovator’s daily data: each day’s change in shares outstanding times the previous day’s net asset value. Percentages are of net assets at the start of each window. Numbers are net: money in less money out. Every day and month ETFIQ holds for TJUL, back to Oct 2026, is in its flows file. Flows across every fund · How these flows are computed · Compare TJUL with other funds in the flows tool

Every trading day, last 3 months12 days

Oct 26, 2026 $0

Oct 23, 2026 $0

Oct 22, 2026 $0

Oct 21, 2026 $0

Oct 20, 2026 $0

Oct 19, 2026 $0

Oct 16, 2026 $0

Oct 15, 2026 $0

Oct 14, 2026 $0

Oct 13, 2026 $0

Oct 12, 2026 $0

Oct 9, 2026 $0

Most recent first.

Week by week, last year4 weeks

Oct 26, 2026 $0 1 day

Oct 23, 2026 $0

Oct 16, 2026 $0

Oct 9, 2026 $0 1 day

Net flow into TJUL each week, Oct 9, 2026 to Oct 26, 2026, most recent first, each week named by its last trading day with data. Computed by ETFIQ.

Month by month, money in and money outOct 2026

TJUL, net flow each month from Oct 2026 to Oct 2026: money came in in 0 months and went out in 0 months.

MonthInOutNet

Oct 2026 ETFIQ, the sum of its days, Oct 9 to Oct 26$0$0$0

Most recent first.

How this is computed

Months summed from daily data: money in adds the days money came in; money out adds the days it went out.

N-PORT months are the filed sales plus reinvestments less redemptions. Later months add up the daily data; the Source column names any missing day.

Source: ETFIQ, from the fund’s daily share counts and net asset values, and its SEC N-PORT filings. Data as of Oct 26, 2026. Last checked Oct 29, 2026.

TJUL key stats

52-week high, daily closes to Oct 28, 2026 (ETFIQ)$30.79 on Oct 28, 2026

52-week low, daily closes to Oct 28, 2026 (ETFIQ)$29.17 on Mar 27, 2026

Close on Oct 28, 2026, within that range (ETFIQ)$30.79, 100% of the way from the low to the high

Range, beta and R-squared computed by ETFIQ from Tiingo daily prices.

Trading

as of Oct 28, 2026

Trading · TJULas of Oct 28, 2026

Not scored1 of 6 measured · Oct 28, 2026

0 · Hard to tradeIQ Liquidity Score100 · Trades like a giant

Cost for your order · one way, half its 30-day median spread

$1,000$1.000.10%

$10,000$100.10%

Premium or discount to NAV, Oct 28 close−0.10%

−0.4%95% of days within ±0.26% · the 1% band is off this scale+0.4%

How to tradeLimit: midpoint + 4¢ to buy, midpoint − 4¢ to sell.At the Oct 28 close of $30.79, that’s $30.83 to buy and $30.75 to sell.

Full trading page: components, premium history, dealers →

Also against DJUN, BJUL, UJUL, JULW, ZJUL, DDFL, AJUL, DDTL, JULU, XBJL, PBJL, JUNM, JULT, CPSJ, JULP, PMJL, JULC, HJLY, CTJL, CJUL, SPY, SPYM.

About TJUL

Reference indexSPY

Buffer100%

Outcome periodJun 30, 2025 to Jun 30, 2027

Starting cap+13.6%

SPY return since period start+24.9%

Fund return since period start+7.4%

Net assets (issuer page, as of Oct 28, 2026)$114mReport

Band state today (ETFIQ)At cap

Can still gain (issuer, fund price)4.7%

Fall before buffer (issuer, fund price)8.0%

Fall to the buffer in index terms (ETFIQ)19.9%

Protection left in index points (ETFIQ)100.0% of 100.0%

Days left in period245

Expense ratio (issuer page, Oct 28, 2026)0.79%Report

How we measure

Issuer-published data as of the date shown; ETFIQ calculations marked. Definitions on the learn page. Method

IQ Investment Committee on TJUL

12 seats on TJUL, as of Oct 28, 2026: 2 Challenges, 7 Not enough data, 3 Does not apply.

In the tradition ofJohn BogleBogle-style Low CostChallenges

In the tradition ofBenjamin GrahamGraham-style Margin of SafetyNot enough data

In the tradition ofWarren Buffett & Charlie MungerBuffett & Munger-style QualityNot enough data

In the tradition ofPeter LynchLynch-style Growth at a Reasonable PriceNot enough data

In the tradition ofJohn TempletonTempleton-style Global ContrarianDoes not apply

In the tradition ofRay DalioDalio-style All-WeatherNot enough data

In the tradition ofHoward MarksMarks-style Cycles & RiskNot enough data

In the tradition ofStanley DruckenmillerDruckenmiller-style Macro & LiquidityDoes not apply

In the tradition ofDavid SwensenSwensen-style DiversificationChallenges

In the tradition ofCathie WoodWood-style Disruptive InnovationNot enough data

In the tradition ofJesse LivermoreLivermore-style Trend FollowingDoes not apply

Uses ETFIQ’s measuresThe ETFIQ SkepticETFIQ’s own seatNot enough data

Put TJUL to the committee →See all seats →No investor named is affiliated with or endorses ETFIQ. Not investment advice.

Questions people ask about TJUL

How much can TJUL still gain?: Nothing more in index terms on Oct 28, 2026. SPY has already passed the cap of +13.6% for this period, which runs from Jun 30, 2025 to Jun 30, 2027.
How far can TJUL fall before the buffer helps?: 8.0% in fund-price terms on Oct 28, 2026, by the issuer's number. In index terms SPY can fall 19.9% from that level before the buffer begins. Losses until that point are the holder's.
How much of the TJUL buffer is left?: 100.0% of the 100.0% buffer sat below the SPY level on Oct 28, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.
When does TJUL reset?: The outcome period ends on Jun 30, 2027, 245 days from the data on Oct 28, 2026. A new cap is set the next day and the buffer starts again.
What does TJUL cost?: The prospectus expense ratio is 0.79% a year.

Sources and dates

Prices, TJUL and SPY price returnTiingo end-of-day · Oct 28, 2026

Fee, 0.79%Issuer page · Oct 28, 2026

Net assets, $114mIssuer page · Oct 28, 2026

IssuerInnovator page for TJUL ↗

IssuerInnovator product table ↗

All fund filingsProspectus filings on SEC EDGAR ↗

Links are sources, not endorsements.

Method →Standards and sources →Open data →

Cite this pageCitation, APA and Markdown

ETFIQ, TJUL, buffer ETFs, data as of Oct 28, 2026. https://etfiq.com/funds/tjul

The outcome band for TJUL, redrawn every trading night.

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.

Buffer

The first slice of loss the fund absorbs for you over its outcome period, stated on the reference index. A 15% buffer means the index can fall 15% before you take any of it.

Cap

The most the fund can return over the period if held from the first day to the last. Quoted gross and net of fees. Set by the option market on day one, so the same fund can have a different cap each year.

Outcome period

The window, usually twelve months and sometimes six or three, over which the buffer and, where there is one, the cap apply. On its last day the options expire, the fund resets, and fresh terms are struck from that day’s option prices.

Reset

The day one outcome period ends and the next begins, with a fresh buffer and fresh terms struck at that day’s level.

Protection left

How much of the buffer still sits below today’s index level. All of it when the index is above its starting level; less once the index is inside the buffer range.

Full definitions: buffer ETFs vocabulary page. →

Innovator ETFs: Every Fund and Its Fee→Buffer ETFs already at their cap→

Embed this chart

Free to use with the credit link. Paste this where the chart should go; it updates every trading night.

TJUL: TJUL: reference +24.9% since period start, fund +7.4%; buffer Floor; cap +13.6%; At its cap. Data to Oct 28, 2026.

<figure style="margin:0;max-width:640px">
<a href="https://etfiq.com/funds/tjul"><img src="https://etfiq.com/assistant/api/embed/buffer/tjul.svg" alt="TJUL: TJUL: reference +24.9% since period start, fund +7.4%; buffer Floor; cap +13.6%; At its cap. Data to Oct 28, 2026." width="640" style="max-width:100%;height:auto"></a>
<figcaption style="font:13px/1.5 sans-serif">TJUL: TJUL: reference +24.9% since period start, fund +7.4%; buffer Floor; cap +13.6%; At its cap. Data to Oct 28, 2026. Data: <a href="https://etfiq.com/funds/tjul">ETFIQ</a></figcaption>
</figure>

How to embed ETFIQ charts

Get the ETFIQ Daily

The day's ETF flows, a comparison and one number. Every trading morning. About the Daily

Snapshot, Oct 28, 2026. More on the tabs above.

.dc-more{display:revert!important}.dc-more[style^="display:flex"]{display:flex!important}.dc-more[style^="display:grid"]{display:grid!important}[data-show-all],[data-show-all-idx]{display:none!important}[data-cue]{display:none!important}