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RSMR vs TBJL

FT Vest U.S. Equity Equal Weight Buffer ETF - March

RSMRCNYSE Arca

Innovator 20+ Year Treasury Bond 9 Buffer ETF - July

TBJLBCboe

Overlap

Expense ratio

TBJL −0.06pt a year

RSMR0.85%TBJL0.79%

Avg volume · 30D

TBJL 5.5×the volume

RSMR2.2KTBJL12.2K

RSMR vs TBJL Performance

Oct 31, 2025 – Oct 30, 2026

+13.7%RSMR−6.0%TBJL

Oct 31, 2025 to Oct 30, 2026. RSMR +13.7%. TBJL −6.0%. Use the arrow keys to read each point.−10%0%5%10%Oct 2025Apr 2026Oct 2026
Expense ratio
RSMR 0.85%
TBJL 0.79%, better
Fund size
RSMR $12M
TBJL $9M
1Y total return
RSMR +13.7%, better
TBJL −6.0%
Holdings
RSMR 3
TBJL 3
Avg volume (30D)
RSMR 2.2K sh
TBJL 12.2K sh, better
NAV per share
RSMR $24.43
TBJL $19.10
52W range

ETF.net Grade

RSMR: Cost 39, Risk 83, Mission not scored, Tradability 49, Holdings 54, Durability 61. TBJL: Cost 75, Risk 40, Mission not scored, Tradability 50, Holdings not scored, Durability 61.
Pillar letters and Scores for RSMR, TBJL, with each pillar’s weight
PillarRSMRTBJL
Cost30% weightD39A75Higher
Mission25% weightNot scoredNot scored
Risk15% weightA83HigherC40
Tradability15% weightC49C50Higher
Holdings10% weightC54Not scored
Durability5% weightB61B61

Rank among Other Buffered funds

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

Same Category. RSMR and TBJL are both graded against the same 9 Other Buffered funds, so their Grades compare head to head.

Other Buffered⁠

Category · 9 funds
See all 9 ›

TBJL ranks 2nd and RSMR 5th of 9 funds in the Other Buffered Category.

  1. Rank 1BKBFRInnovator U.S. Small Cap Managed 10 Buffer ETFScore 63
  2. Rank 2BTBJLInnovator 20+ Year Treasury Bond 9 Buffer ETF - JulyScore 60
  3. Rank 3BIBUFInnovator International Developed 10 Buffer ETFScore 58
  4. Rank 4BRSJNFT Vest U.S. Equity Equal Weight Buffer ETF - JuneScore 57
  5. Rank 5CRSMRFT Vest U.S. Equity Equal Weight Buffer ETF - MarchScore 53
  6. Rank 5CRSSEFT Vest U.S. Equity Equal Weight Buffer ETF - SeptemberScore 53

Our read on each fund

ETF.net Research

RSMRCFT Vest U.S. Equity Equal Weight Buffer ETF - March

TBJLBInnovator 20+ Year Treasury Bond 9 Buffer ETF - July

In short

RSMR Most buffer ETFs wrap their cushion around the cap-weighted S&P 500. This one wraps it around the equal-weight version, where the smallest name counts about as much as the biggest, and resets every March.

TBJL Buffer ETFs almost always wrap the S&P 500. This one wraps long-dated Treasuries, absorbing the first 9% of a 12-month price decline in exchange for a cap that resets every July. Duration risk with guardrails.

Stated mandate

RSMR The Fund seeks to match the price return of the Invesco S&P 500® Equal Weight ETF Trust, before fees and expenses, up to a 17.80% cap while buffering the first 10% of losses during the stated outcome period.

TBJL The fund seeks to track the price return of the iShares 20+ Year Treasury Bond ETF (TLT), subject to a 52.27% upside cap and protection against the first 9% of losses during the stated annual outcome period.

Why people hold it

  • RSMR The uncommon buffer build: outcomes are tied to the price of an equal-weight S&P 500 basket, so a handful of mega caps don't steer the result the way they do in cap-weighted buffer funds.
  • Downside terms are written down in advance: the first 10% of a decline in the reference basket is absorbed across each one-year outcome period, with a fresh period starting each March.
  • Charges 0.85%, the same as its June-dated sibling RSJN, and roughly in line with what defined-outcome funds typically cost.
  • Plain-vanilla plumbing: a registered 1940 Act ETF with no structural flags, and it stands in the upper half of the buffer group on our review.
  • TBJL Buffer mechanics pointed at 20+ year Treasuries instead of stocks: the first 9% of the reference fund's price decline over the outcome period is absorbed before losses reach you.innovatoretfs.com
  • 0.79% a year undercuts the typical buffer-fund fee, and the fund stands among the stronger implementations in its buffer peer group.
  • Live since 2020, resetting the same July-to-June outcome period year after year, which covers the rate shock that hammered long-duration bonds.

Worth knowing

  • RSMR Upside is capped each period, and both cap and buffer run from the March start date, so buying mid-period leaves you with different numbers than the headline terms.
  • It targets price return only, so dividends from the underlying stocks aren't passed through to shareholders.
  • Launched in 2025 and one of the smaller, less-traded names in the buffer group, which makes limit orders worth the extra click.
  • TBJL The price of the buffer is a ceiling. Each period's upside cap is fixed when the period starts, and a Treasury rally beyond it doesn't reach you.innovatoretfs.com
  • It targets the reference fund's price return, so the coupon income a Treasury bond fund passes along isn't part of the package. Distributions have not been part of the pattern.
  • A small, thinly traded fund, so limit orders matter. Buy mid-period and your own buffer and cap differ from the stated terms until the July reset.

Full RSMR profile⁠

Full TBJL profile⁠

RSMR vs TBJL 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.

RSMR vs TBJL Cost

Overpaying RSMR vs TBJL

$1,025

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

  • RSMR 0.85%

    $16,199

  • TBJL 0.79%

    $15,174

$10,000
30 years

Cost over time

  • RSMR 0.85%
  • TBJL 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530RSMR $16,199TBJL $15,174

Year by year

YearRSMRTBJLOverpaying
10$1,508$1,405$103
20$5,706$5,331$375
30$16,199$15,174$1,025

Expense ratio

  • 0.85%RSMR
  • 0.79%TBJL, cheaper
  • Middle half of Other Buffered funds
  • Median 0.85%

TBJL cheapest of 9 funds

RSMR 3rd cheapest of 9 funds

RSMR vs TBJL Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
RSMR None
TBJL None

Distribution history

RSMRAll RSMR payments⁠

No distribution history available.

TBJLAll TBJL payments⁠

No distribution history available.

RSMR vs TBJL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
RSMR 5.6%since Apr 2025TBJL 9.2%
Return per unit of riskSharpe ratio, 3 years
RSMR 1.50since Apr 2025TBJL −0.19
Worst fallMax drawdown, 5 years
RSMR −9.1%since Mar 2025TBJL −28.6%
Market sensitivityBeta, 5 years
RSMR 0.34TBJL 0.41

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