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BMAR vs TENJ

Innovator U.S. Equity Buffer ETF

BMARCCboe

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Overlap

Expense ratio

TENJ −0.26pt a year

BMAR0.79%TENJ0.53%

Avg volume · 30D

TENJ 1.5×the volume

BMAR15.9KTENJ24.6K

BMAR vs TENJ Performance

Oct 31, 2025 – Nov 2, 2026

+12.7%BMAR+11.3%TENJ

Oct 31, 2025 to Nov 2, 2026. BMAR +12.7%. TENJ +11.3%. Use the arrow keys to read each point.0%5%15%Oct 2025May 2026Nov 2026
Expense ratio
BMAR 0.79%
TENJ 0.53%, better
Fund size
BMAR $201M
TENJ $47M
1Y total return
BMAR +12.7%, better
TENJ +11.3%
Holdings
BMAR 3
TENJ 4
Avg volume (30D)
BMAR 15.9K sh
TENJ 24.6K sh, better
NAV per share
BMAR $58.97
TENJ $28.09
52W range

ETF.net Grade

BMAR: Cost 40, Risk 63, Mission not scored, Tradability 61, Holdings not scored, Durability 68. TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41.
Pillar letters and Scores for BMAR, TENJ, with each pillar’s weight
PillarBMARTENJ
Cost30% weightC40A86Higher
Mission25% weightNot scoredNot scored
Risk15% weightB63HigherC49
Tradability15% weightB61B66Higher
Holdings10% weightNot scoredC51
Durability5% weightB68HigherC41

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. BMAR 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 BMAR 33rd 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 33CBAPRInnovator U.S. Equity Buffer ETFScore 52
  6. Rank 33CBMARInnovator U.S. Equity Buffer ETFScore 52
  7. Rank 33CNVBTAllianzIM U.S. Equity Buffer10 Nov ETFScore 52

Our read on each fund

ETF.net Research

BMARCInnovator U.S. Equity Buffer ETF

TENJBiShares Large Cap 10% Target Buffer Jun ETF

In short

BMAR The March vintage of Innovator's buffer lineup: it tracks SPY up to a cap set each March 1, and absorbs the first 9% of losses over the 12 months that follow. Running since 2020.

TENJ No data

Stated mandate

BMAR The fund seeks to track SPY's return up to a predetermined cap while protecting against the first 9% of losses during the outcome period.

TENJ No data

Why people hold it

  • BMAR The 9% cushion is written into the fund's terms, not left to a manager's judgment, and it resets with a fresh cap every March 1.innovatoretfs.com
  • At 0.79%, the fee sits right at the median for its shallow-buffer peer group. The March calendar slot costs no premium.
  • The reference asset is SPY itself, so the exposure underneath is plain US large-cap, with no bespoke index to decode.innovatoretfs.com

TENJ No data

Worth knowing

  • BMAR Protection runs 9% deep and no further. Losses past that come through in full, and gains stop at the cap.
  • Terms are set for the full outcome period. Enter mid-period and your real cushion and remaining upside differ from the headline numbers.innovatoretfs.com
  • Laddered rivals cost less: BUFB spreads buffer exposure across vintages for 0.10%, a fraction of BMAR's 0.79%.

TENJ No data

Full BMAR profile⁠

Full TENJ profile⁠

BMAR 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.

BMAR vs TENJ Cost

Overpaying BMAR vs TENJ

$4,638

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

  • BMAR 0.79%

    $15,174

  • TENJ 0.53%

    $10,536

$10,000
30 years

Cost over time

  • BMAR 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$20K051015202530BMAR $15,174TENJ $10,536

Year by year

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

Expense ratio

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

TENJ 11th cheapest of 77 funds

BMAR 34th cheapest of 77 funds

BMAR vs TENJ Dividends

Last 12 months to Nov 2, 2026
Payout (12M)
BMAR None
TENJ No data
Last payment
BMAR No data
TENJ $0.07
Ex-dividend
BMAR No data
TENJ Dec 23, 2025
Paid on
BMAR No data
TENJ Dec 29, 2025
Frequency
BMAR No data
TENJ Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

BMARAll BMAR 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

BMAR vs TENJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BMAR 8.0%TENJ 8.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
BMAR 1.58TENJ 0.90since Nov 2025
Worst fallMax drawdown, 5 years
BMAR −15.0%TENJ −5.5%since Oct 2025
Market sensitivityBeta, 5 years
BMAR 0.63TENJ 0.63Same figure. Both funds show the same value, so neither comes out ahead.

Popular comparisons

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    Innovator U.S. Equity Buffer ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
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  • TENJBvsZALTA

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  • TENJBvsSIXJB

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    Expense ratio
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    Category
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