IJUL vs IMAR

IJULBInnovator Intl Developed Power Buffer ETF

IMARCInnovator Intl Developed Power Buffer ETF

In short

IJUL Most buffer ETFs babysit the S&P 500. IJUL points the same 15% downside cushion at developed markets outside the US, tracking an EAFE index fund up to a cap over a one-year outcome period that restarts each July.

IMAR Buffered ETFs are almost always an S&P 500 story. IMAR runs the same playbook overseas: EAFE developed-market stocks, the first 15% of losses absorbed, upside capped, resetting every March.

Stated mandate

IJUL The fund seeks to track the return of the iShares MSCI EAFE ETF (EFA) up to a predetermined cap while protecting against the first 15% of losses during the outcome period.

IMAR The Fund seeks to track the return of the iShares MSCI EAFE ETF, subject to a predetermined upside cap, while protecting against the first 15% of losses over the current outcome period.

Why people hold it

• IJUL The mechanics are fixed by prospectus: absorb the first 15% of the reference ETF's losses over the outcome period, participate in gains up to a cap set when that period begins.innovatoretfs.com
• Foreign exposure, not another S&P 500 clone. The reference asset is the iShares MSCI EAFE ETF, so the buffer sits on developed-market equity.innovatoretfs.com
• At 0.85% a year, it charges exactly the median fee of its buffer peer group. No surcharge for pointing the structure overseas.
• Running since 2019 and one of the strongest implementations in its cohort, with sibling months (IMAR, IAPR, IMAY) available if you want staggered start dates.

• IMAR The floor is written into the prospectus, not implied: the fund aims to absorb the first 15% of its EAFE reference ETF's losses over each one-year outcome period.innovatoretfs.com
• Defined-outcome exposure to foreign developed stocks is a thin shelf, and Innovator runs a full monthly ladder (IAPR, IMAY, IJUL and siblings) so the reset month is your choice.
• At 0.85% it sits right at the median for buffered EAFE funds and below the 0.90% charged by siblings like YMAR and YSEP.
• Execution is a strong point: it changes hands more cleanly than most funds in its group, which matters when you may need to enter or exit mid-period.

Worth knowing

• IJUL The cap is the price of the cushion: upside stops there for the period. Buying mid-period means your own buffer and cap differ from the stated terms.
• Return comes from share price, not income. The options-based structure has produced no distributions, so EAFE's dividend stream is not passed through.
• Volume is light next to plain index funds, so spreads and limit orders matter more at the moment you trade.

• IMAR The cap is the price of the floor. A new one is set each March, and once the reference ETF's gains hit it, that's the ceiling for the period.
• Buy mid-period and you get whatever cap and buffer remain, not the headline 15%. The stated terms apply to investors who hold from one March reset to the next.innovatoretfs.com
• Launched in 2024, so there's limited history, and the strategy hasn't been an income payer. Any return shows up as price movement.

Full IJUL profile⁠

Full IMAR profile⁠