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ARKD vs TBJL

ARK DIET Q1 Buffer ETF

ARKDFCboe

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

TBJLBCboe

Overlap

Expense ratio

TBJL −0.65pt a year

ARKD1.44%TBJL0.79%

Avg volume · 30D

TBJL 13.8×the volume

ARKD222TBJL3.06K

ARKD vs TBJL Performance

Aug 7, 2026 – Nov 9, 2026

−0.4%ARKD+0.8%TBJL

Aug 7, 2026 to Nov 9, 2026. ARKD −0.4%. TBJL +0.8%. Use the arrow keys to read each point.−2.5%2.5%5%7.5%Aug 2026Sep 2026Nov 2026
Expense ratio
ARKD 1.44%
TBJL 0.79%, better
Fund size
ARKD $1M
TBJL $9M
1Y total return
ARKD No data
TBJL −5.0%
Holdings
ARKD 3
TBJL 3
Avg volume (30D)
ARKD 222 sh
TBJL 3.06K sh, better
NAV per share
ARKD $19.61
TBJL $19.17
52W range

ETF.net Grade

ARKD: Cost 4, Risk 23, Mission not scored, Tradability 21, Holdings 43, Durability 30. TBJL: Cost 75, Risk 41, Mission not scored, Tradability 36, Holdings not scored, Durability 64.
Pillar letters and Scores for ARKD, TBJL, with each pillar’s weight
PillarARKDTBJL
Cost30% weightF4A75Higher
Mission25% weightNot scoredNot scored
Risk15% weightF23C41Higher
Tradability15% weightF21D36Higher
Holdings10% weightC43Not scored
Durability5% weightD30B64Higher

Rank among Other Buffered funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. ARKD and TBJL are both graded against the same 9 Other Buffered funds, so their Grades compare head to head.

Other Buffered⁠

Category · 9 funds
See all 9 ›

TBJL ranks 3rd and ARKD 9th of 9 funds in the Other Buffered Category.

  1. Rank 1BKBFRInnovator U.S. Small Cap Managed 10 Buffer ETFScore 63
  2. Rank 2BIBUFInnovator International Developed 10 Buffer ETFScore 58
  3. Rank 3BRSJNFT Vest U.S. Equity Equal Weight Buffer ETF - JuneScore 57
  4. Rank 3BTBJLInnovator 20+ Year Treasury Bond 9 Buffer ETF - JulyScore 57
  5. Rank 5CRSSEFT Vest U.S. Equity Equal Weight Buffer ETF - SeptemberScore 54
  6. Rank 8DBGLDFT Vest Gold Strategy Quarterly Buffer ETFScore 35
  7. Rank 9FARKDARK DIET Q1 Buffer ETFScore 17

Our read on each fund

ETF.net Research

ARKDFARK DIET Q1 Buffer ETF

TBJLBInnovator 20+ Year Treasury Bond 9 Buffer ETF - July

In short

ARKD A buffer ETF pointed at ARK's flagship innovation fund instead of a stock index: it absorbs about half of any ARKK decline over the 12-month outcome period, in exchange for the first ~5% of upside and a share of the rest. Fee: 1.44%.

TBJL Buffer ETFs almost always wrap the S&P 500. This one wraps long-dated Treasuries, absorbing the first 9% of a 12-month price decline in exchange for a cap that resets every July. Duration risk with guardrails.

Stated mandate

ARKD ARKD seeks capital appreciation while limiting participation in losses of ARKK to approximately half over each Outcome Period. It participates in ARKK gains above an approximately 5% hurdle, with documented upside participation of 61.20%.

TBJL The fund seeks to track the price return of the iShares 20+ Year Treasury Bond ETF (TLT), subject to a 52.27% upside cap and protection against the first 9% of losses during the stated annual outcome period.

Why people hold it

  • ARKD Buffer mechanics aimed at ARK's flagship innovation fund, not an index: shareholders take roughly half of any ARKK decline over the 12-month outcome period.sec.gov
  • No upside ceiling in its terms. Instead of a cap, it gives up the first ~5% of ARKK's gains and takes a set share above that, struck at each period's start.sec.gov
  • A plain 1940 Act ETF wrapper: the outcome comes from the fund's own options book, not a bank's note or an issuer's credit.ark-funds.com
  • TBJL Buffer mechanics pointed at 20+ year Treasuries instead of stocks: the first 9% of the reference fund's price decline over the outcome period is absorbed before losses reach you.innovatoretfs.com
  • 0.79% a year undercuts the typical buffer-fund fee, and the fund stands among the stronger implementations in its buffer peer group.
  • Live since 2020, resetting the same July-to-June outcome period year after year, which covers the rate shock that hammered long-duration bonds.

Worth knowing

  • ARKD At 1.44%, it carries a higher fee than the typical buffer fund; peers like CBXO (0.69%) and KBFR (0.79%) run leaner.
  • The 50% loss share is a haircut, not a floor, and the terms are measured over the full outcome period, so a mid-period entry changes the math.sec.gov
  • Launched in 2026, it's a young fund with a small asset base and light trading, which can mean wider spreads.
  • TBJL The price of the buffer is a ceiling. Each period's upside cap is fixed when the period starts, and a Treasury rally beyond it doesn't reach you.innovatoretfs.com
  • It targets the reference fund's price return, so the coupon income a Treasury bond fund passes along isn't part of the package. Distributions have not been part of the pattern.
  • A small, thinly traded fund, so limit orders matter. Buy mid-period and your own buffer and cap differ from the stated terms until the July reset.

Full ARKD profile⁠

Full TBJL profile⁠

ARKD vs TBJL Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

ARKD vs TBJL Cost

Overpaying ARKD vs TBJL

$10,252

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • ARKD 1.44%

    $25,426

  • TBJL 0.79%

    $15,174

$10,000
30 years

Cost over time

  • ARKD 1.44%
  • TBJL 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$10K$20K$30K051015202530ARKD $25,426TBJL $15,174

Year by year

YearARKDTBJLOverpaying
10$2,493$1,405$1,088
20$9,186$5,331$3,855
30$25,426$15,174$10,252

Expense ratio

  • 1.44%ARKD
  • 0.79%TBJL, cheaper
  • Middle half of Other Buffered funds
  • Median 0.85%

TBJL cheapest of 9 funds

ARKD 9th cheapest of 9 funds

ARKD vs TBJL Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
ARKD None
TBJL None

Distribution history

ARKDAll ARKD payments⁠

No distribution history available.

TBJLAll TBJL payments⁠

No distribution history available.

ARKD vs TBJL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
ARKD No dataTBJL 9.2%
Return per unit of riskSharpe ratio, 3 years
ARKD No dataTBJL −0.19
Worst fallMax drawdown, 5 years
ARKD No dataTBJL −28.6%
Market sensitivityBeta, 5 years
ARKD 0.86TBJL 0.41

Popular comparisons

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    ARK DIET Q1 Buffer ETF · Innovator U.S. Small Cap Managed 10 Buffer ETF

    Expense ratio
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