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XBJA

GradeBChicago Board Options Exchange

Innovator U.S. Equity Accelerated 9 Buffer ETF

Accelerated Upside · Innovator · Inception 2022-01-03

$34.72−0.04 (−0.12%)

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

History starts Jan 3, 2022.
Intraday session: down, 45 prints from 34.76 to 34.72. Range 34.69 to 34.76. Use the arrow keys to read each point.$34.70$34.74$34.7610 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$93M
1Y return
+11.2%
Yield · Last 12 months
—
Holdings
7
Volume · 30D
0M sh
NAV per share
$34.62
52W range
low $30.52high $34.77

The ETF.net XBJA Grade

B

57/ 100

Rank 2 of 6 in S&P 500 Accelerated, 9-12% Buffer⁠

Confidence Low

Six-pillar profile for XBJA. Scores out of 100: Cost 58, Risk 41, Mission not scored, Tradability 73, Holdings not scored, Durability 63. Strongest: Tradability (73). Weakest: Risk (41). Based on 4 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 57 of 100 sits in the B 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.
    BScore 58
    Category rank2/6 · top 33%

  • 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 41
    Category rank4/5 · bottom quartile

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    AScore 73
    Category rank1/6 · top 17%

  • 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.
    BScore 63
    Category rank3/6 · top 50%

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

Our read on XBJA

ETF.net Research

BMost buffered ETFs buy protection by selling away your upside. XBJA goes after both: twice SPY's price move up to a cap, roughly one-times exposure on the way down, and the first 9% of losses absorbed over a period that runs January to December.

Stated mandate

The fund seeks to deliver twice SPY's upside return up to a cap, with approximately one-times downside exposure, over a one-year outcome period. It protects the first 9% of losses during that period.

Why people hold it

  1. 01Two-way structure: 2x SPY's price gain up to a cap, about 1x exposure on the downside, and the first 9 percentage points of a decline absorbed over the one-year outcome period.innovatoretfs.com
  2. 02No expiration date. The period closes December 31 and the fund resets with a fresh 9% buffer and a newly set cap, so the outcome year and the calendar year move together.innovatoretfs.com
  3. 030.79% expense ratio, the same sticker as the rest of Innovator's accelerated buffer shelf, including its April sibling XBAP.
  4. 04Listed in January 2022, so several full reset cycles are already in the rear-view mirror rather than one untested outcome period.

Worth knowing

  1. 01Buy mid-period and you inherit whatever cap room and buffer remain. After a run-up, the upside left can be thinner and the downside exposure larger than the headline terms suggest.innovatoretfs.com
  2. 02The math runs off SPY's price return, so the S&P 500's dividends are not passed through. Innovator's own materials say the fund is not built for income seekers.innovatoretfs.com
  3. 03Volume is light next to the headline buffer funds, which puts more weight on trading carefully: check the spread and use limit orders.

XBJA Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
7
Top-10 weight
118%
Largest holding
SPY 12/31/2026 6.79 C103.4%

Sectors

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—SPY 12/31/2026 6.79 C103.42%1,269$97M1
002—SPY 12/31/2026 681.89 C13.90%1,269$13M1
003—SPY 12/31/2026 681.89 P0.63%1,269$595K1
004—US BANK MMDA - USBGFS 9 09/01/20370.27%251,200$251K161

Showing 1–4 of 4 holdings

XBJA Performance

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

XBJA$11,120
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. XBJA $11,120. 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 XBJA. Periods over one year show the average yearly return.
PeriodXBJA
Year to date+8.7%
1 month+0.9%
3 months+3.1%
1 year+11.2%
3 years+11.9%per year
5 yearsFund is under 5 years old—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 XBJA
YearReturn barXBJA
2026 YTD+8.7%
2025+11.1%
2024+11.7%
2023+17.6%
2022−11.7%

Since listing, Jan 3, 2022

XBJA in the news

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

XBJA Dividends

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

No distributions in the last 12 months.

XBJA Risk

How much the fund’s monthly returns vary, scaled to a year.
5.8%
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.
1.13
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.
−17.4%
56 months · 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.
0.40
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.

XBJA Cost

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

No S&P 500 Accelerated, 9-12% Buffer fund charges less.

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