Skip to content
etf.net

BJUN

GradeCChicago Board Options Exchange

Innovator U.S. Equity Buffer ETF

Buffered · Innovator · Inception 2019-06-03

$49.88−0.23 (−0.47%)

As of Sep 23, 2026, 2:20 PM EDT

Intraday session: down, 56 prints from 50.12 to 49.88. Range 49.81 to 50.05. Use the arrow keys to read each point.$49.80$50.0010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$242M
1Y return
+9.7%
Yield · Last 12 months
—
Holdings
6
Volume · 30D
0.1M sh
NAV per share
$49.57
52W range
low $45.26high $50.18

The ETF.net BJUN Grade

C

51/ 100

Rank 32 of 77 in S&P 500 Buffer 9-12%⁠

Confidence Medium

Six-pillar profile for BJUN. Scores out of 100: Cost 40, Risk 54, Mission not scored, Tradability 64, Holdings not scored, Durability 78. Strongest: Durability (78). Weakest: Cost (40). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 51 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.

  • Cost

    What you pay to own it — the expense ratio plus trading frictions, ranked within its category.
    CScore 40
    Category rank42/77 · mid-pack

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    Not scored
    —

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    CScore 54
    Category rank35/73 · top 48%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 64
    Category rank20/77 · top 26%

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    Not scored
    —

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    AScore 78
    Category rank18/77 · top 23%

Graded as of Sep 22, 2026 · Based on 4 of 6 pillars

Our read on BJUN

ETF.net Research

CA one-year seatbelt on the S&P 500. BJUN absorbs the first 9% of SPY's losses and tracks it upward to a preset cap, then resets each June 1 with a fresh cap and a fresh buffer.

Stated mandate

The fund seeks to match the return of SPY up to a predetermined cap while protecting investors from the first 9% of losses during the outcome period.

Why people hold it

  1. 01Terms are defined up front: it aims to absorb the first 9% of an SPY decline over the 12-month outcome period, matching gains up to a cap set at the start.innovatoretfs.com
  2. 02It is a plain 1940 Act ETF built from options on SPY, not a bank-issued note, so no single issuer's credit sits between you and the payoff.innovatoretfs.com
  3. 03Running since June 2019, so the June series has cycled through many annual resets, and it stands in the upper half of a crowded shallow-buffer field.
  4. 04Trades with less friction than much of the dated-buffer group, which matters when you choose your own entry and exit rather than the fund's.

Worth knowing

  1. 01The cap is what you hand over for the cushion, and it is struck fresh each June 1. You do not know the new ceiling until the period begins.innovatoretfs.com
  2. 02Buffer and cap are measured across the full outcome period. Step in midstream and you get whatever protection and upside are left, not the headline 9%.innovatoretfs.com
  3. 030.79% a year is the going rate in this group, not the floor: laddered BUFB runs 0.10% and quarterly-reset ZALT 0.69%. This line also pays no regular distributions.

BJUN Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
103%
Largest holding
SPY 05/28/2027 7.58 C99.0%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPY 05/28/2027 7.58 C98.97%3,167$242M1
002—SPY 05/28/2027 756.5 P3.41%3,167$8M1
003—US BANK MMDA - USBGFS 9 09/01/20370.31%760,474$760K161

Showing 1–3 of 3 holdings

BJUN Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

BJUN$10,966
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,723
Sep 22, 2025 to Sep 22, 2026. BJUN $10,966. SPY $11,723. Use the arrow keys to read each point.$9,353$10,646$11,940Sep 2025Mar 2026Sep 2026

Sep 22, 2025 – Sep 22, 2026

Returns run to the Sep 22, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for BJUN. Periods over one year show the average yearly return.
PeriodBJUN
Year to date+7.2%
1 month+1.0%
3 months+3.2%
1 year+9.7%
3 years+14.9%per year
5 years+8.6%per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for BJUN
YearReturn barBJUN
2026 YTD+7.2%
2025+12.6%
2024+16.3%
2023+16.8%
2022−11.5%
2021+10.7%
2020+10.1%

BJUN in the news

ETF.net Research hasn’t filed on BJUN yet — coverage lands here as it’s written.

BJUN Dividends

This fund pays no distributions.
—Last 12 months
Payout per share
—Last 12 months

No distributions in the last 12 months.

BJUN Risk

How much the fund’s monthly returns vary, scaled to a year.
7.7%
Annualised · 36 months to Aug 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.11
vs 3-month T-bills · to Aug 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−16.7%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.56
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

BJUN Cost

Expense ratio0.79%
  • The middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

33 of the 77 S&P 500 Buffer 9-12% funds charge less.

BJUN costs $79.00 a year on $10,000. The median S&P 500 Buffer 9-12% fund costs $79.00.