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XBJL

GradeCChicago Board Options Exchange

Innovator U.S. Equity Accelerated 9 Buffer ETF

Accelerated Upside · Innovator · Inception 2021-07-01

$41.09−0.11 (−0.26%)

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

Intraday session: down, 44 prints from 41.20 to 41.09. Range 41.02 to 41.18. Use the arrow keys to read each point.$41.05$41.1510 AM12 PM2 PM4 PM
Expense ratio
0.79%
Fund size
$77M
1Y return
+10.1%
Yield · Last 12 months
—
Holdings
7
Volume · 30D
0M sh
NAV per share
$40.92
52W range
low $37.02high $41.23

The ETF.net XBJL Grade

C

54/ 100

Rank 4 of 6 in S&P 500 Accelerated, 9-12% Buffer⁠

Confidence Medium

Six-pillar profile for XBJL. Scores out of 100: Cost 58, Risk 55, Mission not scored, Tradability 41, Holdings 60, Durability 64. Strongest: Durability (64). Weakest: Tradability (41). Based on 5 of 6 pillars.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 54 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.
    BScore 58
    Category rank3/6 · top 50%

  • 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.
    BScore 55
    Category rank2/5 · top 40%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 41
    Category rank4/6 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    BScore 60
    Category rank1/3 · top 33%

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    BScore 64
    Category rank2/6 · top 33%

Graded as of Sep 22, 2026 · Based on 5 of 6 pillars

Our read on XBJL

ETF.net Research

CMost buffer ETFs give up upside to buy protection. XBJL flips it: each July-to-June period aims for twice the S&P 500 ETF's price gain up to a cap, with the first 9% of losses absorbed.

Stated mandate

The fund seeks twice the upside return of an ETF tracking the S&P 500 Index, subject to a cap, while providing approximately one-to-one downside exposure after a 9% buffer over the annual outcome period.

Why people hold it

  1. 01Double up, not give up. It targets 2x the underlying S&P 500 ETF's price return to a cap, with downside one-to-one after a 9% buffer. Leverage runs one direction.innovatoretfs.com
  2. 02It rolls itself. Each period runs July 1 to June 30, with a fresh cap and buffer struck at the reset. No maturity date, no options to roll.sec.gov
  3. 03Fees are 0.79%, the same sticker as Innovator's other accelerated buffer funds (XBAP, XBJA, XBOC). The July start date costs no premium.
  4. 04FLEX options on SPY, cleared by the Options Clearing Corporation, inside a 1940 Act fund launched in 2021. Plain brokerage account, no bank note.sec.gov

Worth knowing

  1. 01Outcomes are engineered for holders who own it from a period's first day to its last. Buy or sell mid-period and your effective cap and buffer differ.sec.gov
  2. 02Returns follow the underlying ETF's share price only. The fund does not receive its dividends, the trade for accelerated upside.sec.gov
  3. 03It trades far less actively than the plain S&P 500 funds underneath it, which can mean wider bid-ask spreads in fast markets.

XBJL Holdings

As of Sep 22, 2026, 10:01 PM
Asset class
Stocks
Holdings
7
Top-10 weight
113%
Largest holding
VOO99.2%

Sectors

Geography

The fund’s holdings, weight-ordered — page 1 of 1.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001VOOVanguard S&P 500 ETF99.23%107,493$77M57
002—VOO 06/30/2027 686.82 C9.80%1,097$8M1
003—VOO 06/30/2027 686.82 P3.49%1,097$3M1
004—US BANK MMDA - USBGFS 9 09/01/20370.27%208,847$209K161
005—VOO 06/30/2027 714.29 C0.14%22$110K1

Showing 1–5 of 5 holdings

XBJL Performance

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

XBJL$11,013
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. XBJL $11,013. 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 XBJL. Periods over one year show the average yearly return.
PeriodXBJL
Year to date+7.7%
1 month+1.1%
3 months+3.2%
1 year+10.1%
3 years+12.9%per year
5 years+9.7%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 XBJL
YearReturn barXBJL
2026 YTD+7.7%
2025+12.1%
2024+11.5%
2023+19.5%
2022−5.0%
2021+4.7%

Since listing, Jul 1, 2021

XBJL in the news

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

XBJL Dividends

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

No distributions in the last 12 months.

XBJL Risk

How much the fund’s monthly returns vary, scaled to a year.
5.9%
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.
1.17
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.
−11.8%
Trough Jun 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.

XBJL 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.

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