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BFEB vs TENJ

Innovator U.S. Equity Buffer ETF - February

BFEBCCboe

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Overlap

Expense ratio

TENJ −0.26pt a year

BFEB0.79%TENJ0.53%

Avg volume · 30D

TENJ 1.4×the volume

BFEB17.2KTENJ24.6K

BFEB vs TENJ Performance

Oct 31, 2025 – Oct 30, 2026

+12.4%BFEB+11.7%TENJ

Oct 31, 2025 to Oct 30, 2026. BFEB +12.4%. TENJ +11.7%. Use the arrow keys to read each point.0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
BFEB 0.79%
TENJ 0.53%, better
Fund size
BFEB $204M
TENJ $47M
1Y total return
BFEB +12.4%, better
TENJ +11.7%
Holdings
BFEB 3
TENJ 4
Avg volume (30D)
BFEB 17.2K sh
TENJ 24.6K sh, better
NAV per share
BFEB $53.79
TENJ $28.09
52W range

ETF.net Grade

BFEB: Cost 40, Risk 54, Mission not scored, Tradability 79, Holdings not scored, Durability 74. TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41.
Pillar letters and Scores for BFEB, TENJ, with each pillar’s weight
PillarBFEBTENJ
Cost30% weightC40A86Higher
Mission25% weightNot scoredNot scored
Risk15% weightC54HigherC49
Tradability15% weightA79HigherB66
Holdings10% weightNot scoredC51
Durability5% weightA74HigherC41

Rank among S&P 500 Buffer 9-12% funds

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

Same Category. BFEB and TENJ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

TENJ ranks 3rd and BFEB 30th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 4BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 65
  5. Rank 27CSIXFAllianzIM U.S. Equity 6 Month Buffer10 Feb/Aug ETFScore 55
  6. Rank 30CBFEBInnovator U.S. Equity Buffer ETF - FebruaryScore 54
  7. Rank 30BBSEPInnovator U.S. Equity Buffer ETFScore 54

Our read on each fund

ETF.net Research

BFEBCInnovator U.S. Equity Buffer ETF - February

TENJBiShares Large Cap 10% Target Buffer Jun ETF

In short

BFEB The February slot in Innovator's buffer lineup: FLEX options on SPY that absorb the first 9% of a decline over an approximately annual outcome period, in exchange for a ceiling on the upside that resets every February.

TENJ No data

Stated mandate

BFEB The Fund seeks to track SPY's return up to a predetermined cap while protecting against the first 9% of losses during an approximately annual outcome period. It uses FLEX Options and may invest directly in the underlying ETF or its components.

TENJ No data

Why people hold it

  • BFEB Absorbs the first 9% of SPY's losses (before fees) over an approximately annual outcome period, using FLEX options inside an ordinary 1940 Act fund rather than a bank note.innovatoretfs.com
  • The 0.79% expense ratio sits right at the median for shallow-buffer SPY funds. You pay the going rate for the structure, not a premium for the calendar month.
  • Terms reset on their own each February 1, so there is no options roll to manage and no maturity date to diarize.innovatoretfs.com
  • One of a monthly family running the same SPY buffer recipe (BJAN, BMAY, BJUL and others), so the start date isn't locked to a single point on the calendar.

TENJ No data

Worth knowing

  • BFEB The cap is what pays for the buffer. Upside stops at a level set each February, and anything SPY earns above it is left on the table.
  • Headline terms apply to holders across a full outcome period. Buy mid-period and you inherit whatever buffer and cap are left, not the stated 9%.innovatoretfs.com
  • Trades thinly next to the largest buffer funds, which tends to mean wider bid-ask spreads on the way in and out.

TENJ No data

Full BFEB profile⁠

Full TENJ profile⁠

BFEB vs TENJ 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.

BFEB vs TENJ Cost

Overpaying BFEB vs TENJ

$4,638

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

  • BFEB 0.79%

    $15,174

  • TENJ 0.53%

    $10,536

$10,000
30 years

Cost over time

  • BFEB 0.79%
  • TENJ 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BFEB $15,174TENJ $10,536

Year by year

YearBFEBTENJOverpaying
10$1,405$953$452
20$5,331$3,658$1,673
30$15,174$10,536$4,638

Expense ratio

  • 0.79%BFEB
  • 0.53%TENJ, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

TENJ 11th cheapest of 77 funds

BFEB 34th cheapest of 77 funds

BFEB vs TENJ Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
BFEB None
TENJ No data
Last payment
BFEB No data
TENJ $0.07
Ex-dividend
BFEB No data
TENJ Dec 23, 2025
Paid on
BFEB No data
TENJ Dec 29, 2025
Frequency
BFEB No data
TENJ Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

BFEBAll BFEB payments⁠

No distribution history available.

TENJIrregular · 1 paymentAll TENJ payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.07. Use the arrow keys to read each point.$0$0.052026YTD

BFEB vs TENJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BFEB 8.2%TENJ 8.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
BFEB 1.53TENJ 0.90since Nov 2025
Worst fallMax drawdown, 5 years
BFEB −14.8%TENJ −5.5%since Oct 2025
Market sensitivityBeta, 5 years
BFEB 0.67TENJ 0.63

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