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NJUL

GradeCChicago Board Options Exchange

Innovator Nasdaq-100 Power Buffer ETF - July

Buffered · Innovator · Inception 2020-07-01

$78.51−0.44 (−0.56%)

As of Sep 23, 2026, 2:19 PM EDT

Intraday session: down, 58 prints from 78.95 to 78.51. Range 78.36 to 78.98. Use the arrow keys to read each point.$78.40$78.60$78.80$79.0010 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$279M
1Y return
+10.8%
Yield · Last 12 months
—
Holdings
6
Volume · 30D
0M sh
NAV per share
$77.42
52W range
low $69.85high $84.73

The ETF.net NJUL Grade

C

49/ 100

Rank 8 of 20 in Nasdaq-100 Buffer 15%⁠

Confidence Medium

Six-pillar profile for NJUL. Scores out of 100: Cost 39, Risk 38, Mission not scored, Tradability 68, Holdings not scored, Durability 88. Strongest: Durability (88). Weakest: Risk (38). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 49 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.
    DScore 39
    Category rank12/20 · 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.
    DScore 38
    Category rank13/17 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 68
    Category rank5/20 · top 25%

  • 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 88
    Category rank2/20 · top 10%

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

Our read on NJUL

ETF.net Research

CNasdaq-100 exposure with a seatbelt. NJUL absorbs the first 15% of QQQ's losses over a one-year outcome period that resets each July, and in exchange accepts a ceiling on the upside set the day the period begins.

Stated mandate

The fund seeks to track the return of the Invesco QQQ Trust (QQQ), subject to a predetermined cap, while protecting investors from the first 15% of losses during the outcome period.

Why people hold it

  1. 01The contract is written down, not implied: a 15-point cushion against QQQ's decline over the outcome period, with the trade-off stated in the prospectus.
  2. 02The clock resets every July 1. Investors who start with a fresh period know the buffer and the cap before they commit, rather than guessing at the risk.
  3. 03A plain 1940 Act ETF, not a bank-issued structured note, so the defined outcome doesn't ride on a single issuer's credit.
  4. 04Live since 2020, with siblings NJAN and NAPR running the same Nasdaq-100 buffer recipe at the same 0.79% on different reset dates.

Worth knowing

  1. 01The ceiling is real. The cap is fixed when each period starts, so a runaway Nasdaq year leaves gains on the table.
  2. 02Buy mid-period and you inherit whatever buffer and cap are left, not the headline 15%. Full terms belong to holders who own from the reset date.
  3. 03At 0.79% it matches the typical Nasdaq-100 buffer fund, but sits above PBQQ at 0.50% and the Calamos series at 0.69%, and it isn't among the group's busiest tickers.

NJUL Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
104%
Largest holding
QQQ 06/30/2027 7.36 C98.4%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—QQQ 06/30/2027 7.36 C98.43%3,804$279M1
002—QQQ 06/30/2027 736.4 P5.79%3,804$16M1
003—US BANK MMDA - USBGFS 9 09/01/20370.27%770,308$770K161

Showing 1–3 of 3 holdings

NJUL Performance

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

NJUL$11,082
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. NJUL $11,082. 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 NJUL. Periods over one year show the average yearly return.
PeriodNJUL
Year to date+8.6%
1 month+2.7%
3 months+2.1%
1 year+10.8%
3 years+15.8%per year
5 years+11.0%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 NJUL
YearReturn barNJUL
2026 YTD+8.6%
2025+15.7%
2024+13.9%
2023+29.5%
2022−11.7%
2021+7.9%
2020+8.3%

Since listing, Jul 1, 2020

NJUL in the news

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

NJUL Dividends

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

No distributions in the last 12 months.

NJUL Risk

How much the fund’s monthly returns vary, scaled to a year.
8.6%
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.
1.04
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.
−14.4%
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.
0.58
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.

NJUL Cost

Expense ratio0.79%
  • The middle half of Nasdaq-100 Buffer 15% funds
  • Median 0.79%

7 of the 15 Nasdaq-100 Buffer 15% funds charge less.

NJUL costs $79.00 a year on $10,000. The median Nasdaq-100 Buffer 15% fund costs $79.00.