BSTP vs HJUN: Grades, Fees and Holdings Compared

Innovator Buffer Step-Up Strategy ETF

BSTPDNYSE Arca

Corgi U.S. Equities 100% Structured Buffer ETF - June Series

HJUNCCboe

Overlap

0.0%by weight

Expense ratio

HJUN −0.59pt a year

BSTP0.89%HJUN0.30%

Avg volume · 30D

BSTP 4.0×the volume

BSTP4.11KHJUN1.03K

BSTP vs HJUN Performance

Jul 31, 2026 – Oct 30, 2026

+1.0%BSTP+1.0%HJUN

Expense ratio: BSTP 0.89%; HJUN 0.30%, better
Fund size: BSTP $59M; HJUN $3M
1Y total return: BSTP +8.3%; HJUN No data
Holdings: BSTP 3; HJUN 4
Avg volume (30D): BSTP 4.11K sh, better; HJUN 1.03K sh
NAV per share: BSTP $39.96; HJUN $25.34
52W range

ETF.net Grade

Pillar letters and Scores for BSTP, HJUN, with each pillar’s weight
Pillar	BSTP	HJUN
Cost30% weight	F9	A91Higher
Mission25% weight	Not scored	Not scored
Risk15% weight	D36	B60Higher
Tradability15% weight	B66Higher	F9
Holdings10% weight	Not scored	Not scored
Durability5% weight	B62Higher	F13

Rank among S&P 500 Buffer funds

How we build Categories ›

Same Category. BSTP and HJUN are both graded against the same 7 S&P 500 Buffer funds, so their Grades compare head to head.

S&P 500 Buffer⁠

Category · 7 funds

See all 7 ›

HJUN ranks 4th and BSTP 7th of 7 funds in the S&P 500 Buffer Category.

Rank 4CFBProShares S&P 500 Dynamic Buffer ETFScore 40
Rank 4CHJUNCorgi U.S. Equities 100% Structured Buffer ETF - June SeriesScore 40
Rank 6DDHSBDay Hagan Smart Buffer ETFScore 34
Rank 7DBSTPInnovator Buffer Step-Up Strategy ETFScore 32

Our read on each fund

ETF.net Research

BSTPDInnovator Buffer Step-Up Strategy ETF

HJUNCCorgi U.S. Equities 100% Structured Buffer ETF - June Series

In short

BSTP Most buffer ETFs freeze your cap and buffer for a full year. BSTP is the active version: FLEX options on SPY that the manager can reset monthly, so the terms follow the market rather than a calendar.

HJUN No data

Stated mandate

BSTP BSTP seeks risk-managed exposure to SPY through FLEX options and may invest directly in SPY or its components. It actively monitors and may reset the options portfolio monthly, seeking participation in SPY returns with an upside limit and protection against a measure of downside loss.

HJUN No data

Why people hold it

BSTP No 12-month lock. The manager monitors the options book and can reset it monthly, seeking SPY participation with a limit on the upside and protection against a measure of downside loss.
The step-up design lets the options be re-struck as SPY moves, instead of leaving the fund anchored to a reference level set at the start of a long outcome period.
One ticker, no calendar to babysit: the resetting happens inside the fund, which can also hold SPY or its underlying stocks directly alongside the options.
Live since 2022, so the strategy has run through real market stress rather than a backtest.

HJUN No data

Worth knowing

BSTP The 0.89% expense ratio sits at the pricier end of SPY buffer funds. Innovator's dated series on the same reference, such as PMAY, lists 0.79%.
Thinly traded, so bid-ask spreads can run wider than in the largest buffer names.
Flexibility cuts both ways: with terms able to change at each reset, the cap and buffer in force aren't readable off a calendar and need checking against the fund's posted terms.

HJUN No data

Full BSTP profile⁠

Full HJUN profile⁠

BSTP vs HJUN Holdings

How BSTP and HJUN differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BSTP and 0.0% of HJUN.

Level by level

Holdings0 in both0.0%
Sector11 Sectors98.0%
Asset classEquity100%
Countryby domicile100%

Sector

Sector weights in BSTP and HJUN, widest gap first
Sector	More in BSTPMore in HJUN	BSTP	HJUN
Communication	BSTP +1.0 points	9.9%	8.9%
Technology	BSTP +0.8 points	40.1%	39.3%
Consumer Discretionary	HJUN +0.4 points	8.7%	9.1%
Financials	HJUN +0.4 points	11.3%	11.7%
Health Care	HJUN +0.4 points	9.4%	9.8%
Energy	HJUN +0.3 points	3.4%	3.7%
Consumer Staples	HJUN +0.3 points	4.4%	4.7%
Industrials	BSTP +0.1 points	7.6%	7.5%
Utilities	HJUN +0.1 points	1.9%	2.0%
Materials	BSTP +0.1 points	1.6%	1.5%
Real Estate	Same weight	1.7%	1.7%

Country, concentration and asset class

Country by domicile

Country weights in BSTP and HJUN, widest gap first
Country	More in BSTPMore in HJUN	BSTP	HJUN
United States	Same weight	99.5%	99.5%
Switzerland	Same weight	0.3%	0.3%
China	Same weight	0.1%	0.1%
Mexico	Same weight	0.1%	0.1%
Ireland	Same weight	0.0%	0.0%
United Kingdom	Same weight	0.0%	0.0%

Concentration

Weight in the 10 largest Holdings

BSTP103.8%
HJUN101.9%

Securities held

BSTP3
HJUN3

Asset class

BSTP: Equity
HJUN: Equity

Holdings

Only in BSTP3
In both0
Only in HJUN3

Only in BSTP

3 securities, 100% of BSTP by weight

Spy 08/31/2027 7.72 C98.24%
Spy 08/31/2027 767.1 P5.36%
Us Bank Mmda - Usbgfs 9 09/01/20370.20%

Only in HJUN

3 securities, 100% of HJUN by weight

Spy 05/28/2027 151.71 C77.75%
United States Treasury Note/Bond 0.5% 05/31/202719.15%
Spy 05/28/2027 758.54 P4.09%

Weight gaps

BSTP and HJUN share no securities.

All 5 BSTP holdings⁠All HJUN 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.

BSTP vs HJUN Cost

Overpaying BSTP vs HJUN

$10,723

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

BSTP 0.89%
$16,872
HJUN 0.30%
$6,149

Amount$10,000

Years30 years

Cost over time

BSTP 0.89%
HJUN 0.30%
Overpaying

Year by year

Year	BSTP	HJUN	Overpaying
10	$1,576	$545	$1,031
20	$5,953	$2,113	$3,840
30	$16,872	$6,149	$10,723

Expense ratio

0.89%BSTP
0.30%HJUN, cheaper

HJUN0.30%BSTP0.89%

0.30%0.89%

Middle half of S&P 500 Buffer funds
Median 0.64%

HJUN cheapest of 7 funds

BSTP 7th cheapest of 7 funds

BSTP vs HJUN Dividends

Last 12 months to Oct 30, 2026

Payout (12M): BSTP None; HJUN None

Distribution history

BSTPAll BSTP payments⁠

No distribution history available.

HJUNAll HJUN payments⁠

No distribution history available.

BSTP vs HJUN Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BSTP 7.8%HJUN No data
Return per unit of riskSharpe ratio, 3 years: BSTP 1.31HJUN No data
Worst fallMax drawdown, 5 years: BSTP −16.7%since Mar 2022HJUN No data
Market sensitivityBeta, 5 years: BSTP 0.69HJUN 0.21; Market = 1

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