Skip to content
etf.net

BNOV vs JANP

Innovator U.S. Equity Buffer ETF

BNOVCCboe

PGIM S&P 500 Buffer 12 ETF - January

JANPBCboe

Overlap

0.0%by weight

Expense ratio

JANP −0.29pt a year

BNOV0.79%JANP0.50%

Avg volume · 30D

BNOV 1.9×the volume

BNOV17.6KJANP9.46K

BNOV vs JANP Performance

Nov 7, 2025 – Nov 9, 2026

+11.1%BNOV+11.9%JANP

Nov 7, 2025 to Nov 9, 2026. BNOV +11.1%. JANP +11.9%. Use the arrow keys to read each point.0%5%15%Nov 2025May 2026Nov 2026
Expense ratio
BNOV 0.79%
JANP 0.50%, better
Fund size
BNOV $195M
JANP $57M
1Y total return
BNOV +11.1%
JANP +11.9%, better
Holdings
BNOV 503
JANP 4
Avg volume (30D)
BNOV 17.6K sh, better
JANP 9.46K sh
NAV per share
BNOV $47.65
JANP $35.06
52W range

ETF.net Grade

BNOV: Cost 40, Risk 34, Mission 84, Tradability 54, Holdings 89, Durability 76. JANP: Cost 91, Risk 60, Mission not scored, Tradability 28, Holdings not scored, Durability 46.
Pillar letters and Scores for BNOV, JANP, with each pillar’s weight
PillarBNOVJANP
Cost30% weightC40A91Higher
Mission25% weightA84Not scored
Risk15% weightD34B60Higher
Tradability15% weightC54HigherD28
Holdings10% weightA89Not scored
Durability5% weightA76HigherC46

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. BNOV and JANP 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 ›

JANP ranks 4th and BNOV 40th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 76
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 66
  3. Rank 2BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 66
  4. Rank 4BJANPPGIM S&P 500 Buffer 12 ETF - JanuaryScore 65
  5. Rank 4BOCTTAllianzIM U.S. Equity Buffer10 Oct ETFScore 65
  6. Rank 37CBMAYInnovator U.S. Equity Buffer ETFScore 51
  7. Rank 40CBNOVInnovator U.S. Equity Buffer ETFScore 50
  8. Rank 41CFFEBFT Vest U.S. Equity Buffer ETF - FebruaryScore 48

Our read on each fund

ETF.net Research

BNOVCInnovator U.S. Equity Buffer ETF

JANPBPGIM S&P 500 Buffer 12 ETF - January

In short

BNOV The November rung of Innovator's buffer lineup: it follows the big S&P 500 ETF up to a cap set each November 1 and absorbs that ETF's first 9% of losses, then starts over a year later.

JANP No data

Stated mandate

BNOV The fund seeks to track SPY up to a predetermined cap while buffering investors against the first 9% of losses over the outcome period.

JANP No data

Why people hold it

  • BNOV The contract is simple: the first 9% of the reference S&P 500 ETF's decline is buffered over the outcome period, with gains capped at a level fixed at the start.
  • Running since its 2019 launch, it resets on a fixed calendar: a fresh buffer and cap every November 1, through the following October 31.
  • The 0.79% expense ratio sits right at the median for shallow-buffer funds built on the same S&P 500 ETF.
  • The defined outcome arrives in a plain 1940 Act ETF wrapper, not a bank-issued structured note.

JANP No data

Worth knowing

  • BNOV Priced with the pack at 0.79%, but cheaper paths to a buffer exist, including the laddered BUFB at 0.10%.
  • The buffer and cap are engineered for a full outcome period. Buying mid-period means your effective protection and upside differ from the headline terms.
  • It trades thinly next to its peers, and across a crowded field of 50-plus shallow-buffer funds it sits in the lower half on cost, trading and risk.

JANP No data

Full BNOV profile⁠

Full JANP profile⁠

BNOV vs JANP Holdings

How BNOV and JANP differ

Overlap by weight

0.0%

Level by level

  • Asset classStocks, Alternatives0.0%
  • Holdings0 in both0.0%
  • Countryby domicile97.9%
  • Sector11 Sectors98.1%

Sector

Sector weights in BNOV and JANP, widest gap first
SectorMore in BNOVMore in JANPGap
TechnologyBNOV +1.5 points
Consumer DiscretionaryJANP +0.5 points
CommunicationJANP +0.4 points
FinancialsJANP +0.4 points
EnergyBNOV +0.4 points
Health CareJANP +0.2 points
Consumer StaplesJANP +0.2 points
Real EstateJANP +0.1 points
IndustrialsSame weight
UtilitiesSame weight
MaterialsSame weight

Country, concentration and asset class

Country by domicile

Country weights in BNOV and JANP, widest gap first
CountryMore in BNOVMore in JANPGap
United StatesJANP +1.9 points
IrelandBNOV +1.3 points
Other countries (8)BNOV +0.7 points

Concentration

Weight in the 10 largest Holdings

  • BNOV41.9%
  • JANP101.0%

Securities held

  • BNOV503
  • JANP3

Asset class

BNOV
Stocks
JANP
Alternatives

Holdings

  • Only in BNOV503
  • In both0
  • Only in JANP3

Only in BNOV

503 securities, 100% of BNOV by weight

  • Apple Inc7.74%
  • Spy 10/29/2027 755.74 P6.83%
  • NVIDIA Corp6.78%

Only in JANP

3 securities, 100% of JANP by weight

  • 4SPY Us 12/31/26 C6.8299.22%
  • 4SPY Us 12/31/26 P681.921.19%
  • Net Current Assets<0.01%

Weight gaps

BNOV and JANP share no securities.

All BNOV holdings⁠All JANP 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.

BNOV vs JANP Cost

Overpaying BNOV vs JANP

$5,195

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

  • BNOV 0.79%

    $15,174

  • JANP 0.50%

    $9,979

$10,000
30 years

Cost over time

  • BNOV 0.79%
  • JANP 0.50%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530BNOV $15,174JANP $9,979

Year by year

YearBNOVJANPOverpaying
10$1,405$900$505
20$5,331$3,460$1,871
30$15,174$9,979$5,195

Expense ratio

  • 0.79%BNOV
  • 0.50%JANP, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

JANP 5th cheapest of 77 funds

BNOV 34th cheapest of 77 funds

BNOV vs JANP Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
BNOV None
JANP None

Distribution history

BNOVAll BNOV payments⁠

No distribution history available.

JANPAll JANP payments⁠

No distribution history available.

BNOV vs JANP Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BNOV 8.0%JANP 6.3%since Feb 2024
Return per unit of riskSharpe ratio, 3 years
BNOV 1.23JANP 1.33since Feb 2024
Worst fallMax drawdown, 5 years
BNOV −16.3%JANP −12.2%since Jan 2024
Market sensitivityBeta, 5 years
BNOV 0.71JANP 0.50

Popular comparisons

  • BNOVCvsZALTA

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

    Expense ratio
    0.79% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • JANPBvsZALTA

    PGIM S&P 500 Buffer 12 ETF - January · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.50% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BNOVCvsAUGPB

    Innovator U.S. Equity Buffer ETF · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.79% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • JANPBvsAUGPB

    PGIM S&P 500 Buffer 12 ETF - January · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.50% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BNOVCvsSIXJB

    Innovator U.S. Equity Buffer ETF · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.79% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • JANPBvsSIXJB

    PGIM S&P 500 Buffer 12 ETF - January · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.50% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.