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IJUL vs YSEP

Innovator Intl Developed Power Buffer ETF

IJULBNYSE Arca

FT Vest International Equity Moderate Buffer ETF - September

YSEPDCboe

Overlap

Expense ratio

IJUL −0.05pt a year

IJUL0.85%YSEP0.90%

Avg volume · 30D

IJUL 3.3×the volume

IJUL44.8KYSEP13.4K

5Y return · a year

IJUL +0.8pt

IJUL+7.9%YSEP+7.1%

IJUL vs YSEP Performance

Oct 29, 2021 – Oct 30, 2026

+46.1%IJUL+40.9%YSEP

Oct 29, 2021 to Oct 30, 2026. IJUL +46.1%. YSEP +40.9%. Use the arrow keys to read each point.−20%0%20%Oct 2021May 2024Oct 2026
Expense ratio
IJUL 0.85%, better
YSEP 0.90%
Fund size
IJUL $256M
YSEP $135M
1Y total return
IJUL +9.7%
YSEP +10.7%, better
Yield (12M)
IJUL 0.00%
YSEP No data
Holdings
IJUL 3
YSEP 3
Avg volume (30D)
IJUL 44.8K sh, better
YSEP 13.4K sh
NAV per share
IJUL $35.98
YSEP $28.17
52W range

ETF.net Grade

IJUL: Cost 38, Risk 52, Mission not scored, Tradability 82, Holdings not scored, Durability 91. YSEP: Cost 6, Risk 62, Mission not scored, Tradability 58, Holdings 35, Durability 79.
Pillar letters and Scores for IJUL, YSEP, with each pillar’s weight
PillarIJULYSEP
Cost30% weightD38HigherF6
Mission25% weightNot scoredNot scored
Risk15% weightC52B62Higher
Tradability15% weightA82HigherB58
Holdings10% weightNot scoredD35
Durability5% weightA91HigherA79

Rank among Developed International Buffer 15% funds

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

Same Category. IJUL and YSEP are both graded against the same 26 Developed International Buffer 15% funds, so their Grades compare head to head.

Developed International Buffer 15%⁠

Category · 26 funds
See all 26 ›

IJUL ranks 4th and YSEP 25th of 26 funds in the Developed International Buffer 15% Category.

  1. Rank 1BBUFIAB International Buffer ETFScore 65
  2. Rank 2BQBIFAllianzIM International Equity Buffer15 ETFScore 63
  3. Rank 3BIAUGInnovator Intl Developed Power Buffer ETFScore 58
  4. Rank 4BIJULInnovator Intl Developed Power Buffer ETFScore 55
  5. Rank 4BIOCTInnovator Intl Developed Power Buffer ETFScore 55
  6. Rank 24DYJUNFT Vest International Equity Moderate Buffer ETF - JuneScore 37
  7. Rank 25DYSEPFT Vest International Equity Moderate Buffer ETF - SeptemberScore 36
  8. Rank 26DYDECFT Vest International Equity Moderate Buffer ETF - DecemberScore 31

Our read on each fund

ETF.net Research

IJULBInnovator Intl Developed Power Buffer ETF

YSEPDFT Vest International Equity Moderate Buffer ETF - September

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.

YSEP A downside buffer pointed somewhere unusual: developed international stocks. YSEP tracks the price return of the iShares MSCI EAFE ETF, absorbs the first 15% of losses and caps the upside, then resets the whole deal every September.

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.

YSEP Seeks to match the price return of the iShares MSCI EAFE ETF, subject to a 13.14% upside cap and protection against the first 15% of losses during the September 22, 2025–September 18, 2026 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.
  • YSEP Buffers the corner of the market most defined-outcome funds skip: developed Europe, Japan and Australia, via the iShares MSCI EAFE ETF rather than the S&P 500.ftportfolios.com
  • The terms are written down before you buy: first 15% of losses absorbed, a stated cap, one year running September to September, built from FLEX options.ftportfolios.com
  • Live since 2021, so this September series has rolled through several full reset cycles rather than one lucky stretch.

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.
  • YSEP Fees run 0.90% a year, slightly above the 0.85% on the Innovator international buffer funds (ISEP, IJUL) aimed at the same index.
  • It follows EFA's price return, so MSCI EAFE dividends stay outside the deal, and the options structure means income isn't what this fund is built to hand you.
  • The stated buffer and cap belong to the full September window. Buy mid-period and your own numbers differ. Trading is thin, so spreads can widen.ftportfolios.com

Full IJUL profile⁠

Full YSEP profile⁠

IJUL vs YSEP 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.

IJUL vs YSEP Cost

Overpaying YSEP vs IJUL

$841

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

  • IJUL 0.85%

    $16,199

  • YSEP 0.90%

    $17,040

$10,000
30 years

Cost over time

  • IJUL 0.85%
  • YSEP 0.90%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530YSEP $17,040IJUL $16,199

Year by year

YearIJULYSEPOverpaying
10$1,508$1,593$85
20$5,706$6,015$309
30$16,199$17,040$841

Expense ratio

  • 0.85%IJUL, cheaper
  • 0.90%YSEP
  • Middle half of Developed International Buffer 15% funds
  • Median 0.85%

IJUL 11th cheapest of 26 funds

YSEP 23rd cheapest of 26 funds

IJUL vs YSEP Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
IJUL 0.00%
YSEP No data
Payout (12M)
IJUL None
YSEP None

Distribution history

Per share, 2019, same scale for both

IJUL1 paymentAll IJUL payments⁠
One bar per payment. 1 payment in 2019. Nov 19, 2019 $0.23. Use the arrow keys to read each point.$0$0.252019
YSEPAll YSEP payments⁠

No distribution history available.

IJUL vs YSEP Risk

Fall from peak · 5 years

  • IJUL
  • YSEP
Oct 29, 2021 to Oct 30, 2026. Worst fall: YSEP −22.6% · Sep 2022. Use the arrow keys to read each point.−20%−15%−10%−5%0%Oct 2021May 2024Oct 2026

Risk facts

VolatilityStd dev, 3 years
IJUL 7.4%YSEP 7.3%, better
Return per unit of riskSharpe ratio, 3 years
IJUL 1.07YSEP 1.27, better
Worst fallMax drawdown, 5 years
IJUL −14.6%, betterYSEP −22.6%
Market sensitivityBeta, 5 years
IJUL 0.46YSEP 0.44

IJUL and YSEP in the news

All news⁠

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