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PJUL

GradeCChicago Board Options Exchange

Innovator U.S. Equity Power Buffer ETF

Buffered · Innovator · Inception 2018-08-08

$49.83−0.13 (−0.25%)

As of Sep 23, 2026, 2:25 PM EDT

Intraday session: down, 46 prints from 49.95 to 49.83. Range 49.79 to 49.96. Use the arrow keys to read each point.$49.80$49.85$49.90$49.9510 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$1.3B
1Y return
+9.8%
Yield · Last 12 months
0.00%
Holdings
6
Volume · 30D
0.1M sh
NAV per share
$49.63
52W range
low $45.10high $50.07

The ETF.net PJUL Grade

C

47/ 100

Rank 23 of 61 in S&P 500 Buffer 15%⁠

Confidence Medium

Six-pillar profile for PJUL. Scores out of 100: Cost 35, Risk 45, Mission not scored, Tradability 61, Holdings not scored, Durability 90. Strongest: Durability (90). Weakest: Cost (35). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 47 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 35
    Category rank40/61 · 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 45
    Category rank43/57 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    BScore 61
    Category rank22/61 · top 36%

  • 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 90
    Category rank1/61 · top 2%

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

Our read on PJUL

ETF.net Research

CRides the S&P 500, absorbs the first 15% of a 12-month drawdown, and gives up upside above a cap in exchange. Innovator's July-reset Power Buffer, running the same playbook since 2018.

Stated mandate

The Fund seeks to track the return of SPY up to a predetermined cap while protecting investors from the first 15% of losses over the current outcome period.

Why people hold it

  1. 01The buffer is the whole product: built to absorb the first 15% of reference-index losses across each one-year outcome period, with upside capped in return.innovatoretfs.com
  2. 02Trades tightly for a defined-outcome fund, and at multi-billion-dollar size it is one of the more established names on the buffer shelf.
  3. 03A 2018 vintage that has carried its buffer through real market cycles, and among buffer funds we grade it sits near the top of the group.

Worth knowing

  1. 01Cap and buffer are set at the July 1 reset and apply to full-period holders. Step in midstream and your effective cap and remaining buffer differ from the headline terms.innovatoretfs.com
  2. 020.79% is the category median, not the floor. The laddered sibling BUFF lists 0.10% and spreads the same Power Buffer approach across staggered start dates.
  3. 03Income is not part of the design. The options-based structure has not been throwing off distributions.

PJUL Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
6
Top-10 weight
104%
Largest holding
SPY 06/30/2027 7.47 C100.0%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPY 06/30/2027 7.47 C100.01%17,179$1.3B1
002—SPY 06/30/2027 746.77 P3.50%17,179$46M2
003—US BANK MMDA - USBGFS 9 09/01/20370.28%3,599,869$4M161

Showing 1–3 of 3 holdings

PJUL Performance

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

PJUL$10,976
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. PJUL $10,976. 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 PJUL. Periods over one year show the average yearly return.
PeriodPJUL
Year to date+7.6%
1 month+0.7%
3 months+2.7%
1 year+9.8%
3 years+13.9%per year
5 years+10.8%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 PJUL
YearReturn barPJUL
2026 YTD+7.6%
2025+12.8%
2024+13.8%
2023+19.9%
2022−2.1%
2021+7.2%
2020+7.5%

PJUL in the news

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

PJUL Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
0.00%Last 12 months
Payout per share
NoneLast 12 months

No distributions in the last 12 months.

Distribution history

Payments through 2019

One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.22. Use the arrow keys to read each point.2019
Ex-datePay dateAmount per share
Nov 19, 2019Nov 21, 2019$0.22

PJUL Risk

How much the fund’s monthly returns vary, scaled to a year.
6.8%
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.
1.15
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.
−10.7%
Trough Apr 2025
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.
0.47
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.

PJUL Cost

Expense ratio0.79%
  • The middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

22 of the 50 S&P 500 Buffer 15% funds charge less.

PJUL costs $79.00 a year on $10,000. The median S&P 500 Buffer 15% fund costs $79.00.