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TENJ vs XBFR

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Innovator Equity Managed 10 Buffer ETF

XBFRCNYSE Arca

Overlap

Expense ratio

TENJ −0.26pt a year

TENJ0.53%XBFR0.79%

Avg volume · 30D

TENJ 2.1×the volume

TENJ24.6KXBFR11.5K

TENJ vs XBFR Performance

Jul 31, 2026 – Nov 2, 2026

+0.9%TENJ+0.5%XBFR

Jul 31, 2026 to Nov 2, 2026. TENJ +0.9%. XBFR +0.5%. Use the arrow keys to read each point.0%2%3%Jul 2026Sep 2026Nov 2026
Expense ratio
TENJ 0.53%, better
XBFR 0.79%
Fund size
TENJ $47M
XBFR $53M
1Y total return
TENJ +11.3%
XBFR No data
Holdings
TENJ 4
XBFR 189
Avg volume (30D)
TENJ 24.6K sh, better
XBFR 11.5K sh
NAV per share
TENJ $28.09
XBFR $26.70
52W range

ETF.net Grade

TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41. XBFR: Cost 40, Risk 50, Mission not scored, Tradability 31, Holdings 85, Durability 30.
Pillar letters and Scores for TENJ, XBFR, with each pillar’s weight
PillarTENJXBFR
Cost30% weightA86HigherC40
Mission25% weightNot scoredNot scored
Risk15% weightC49C50Higher
Tradability15% weightB66HigherD31
Holdings10% weightC51A85Higher
Durability5% weightC41HigherD30

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. TENJ and XBFR 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 ›

TENJ ranks 3rd and XBFR 48th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 4BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 65
  5. Rank 48CFSEPFT Vest U.S. Equity Buffer ETF - SeptemberScore 45
  6. Rank 48CXBFRInnovator Equity Managed 10 Buffer ETFScore 45
  7. Rank 53CFJANFT Vest U.S. Equity Buffer ETF - JanuaryScore 44

Our read on each fund

ETF.net Research

TENJBiShares Large Cap 10% Target Buffer Jun ETF

XBFRCInnovator Equity Managed 10 Buffer ETF

In short

TENJ No data

XBFR Most buffer ETFs buy their cushion with a cap on gains. XBFR skips the cap: sub-adviser Parametric runs roughly 200 large-cap stocks behind a laddered options overlay targeting a 10% quarterly buffer, upside left uncapped.

Stated mandate

TENJ No data

XBFR Actively managed ETF seeking capital appreciation from uncapped participation in large-cap U.S. equities while limiting losses through a laddered options strategy targeting quarterly 10% buffers.

Why people hold it

TENJ No data

  • XBFR Buffer without the ceiling: the strategy targets roughly 10% of downside cushion while leaving participation in large-cap gains uncapped.innovatoretfs.com
  • The cushion ladders quarterly instead of resetting on one annual date, so entry timing matters less than it does with a dated defined-outcome fund.innovatoretfs.com
  • You own the stocks: Parametric manages roughly 200 large-cap names with an index options overlay, not a basket of FLEX options on a proxy.innovatoretfs.com

Worth knowing

TENJ No data

  • XBFR At 0.79% the fee sits at the middle of the shallow-buffer pack; ZALT and BUFM charge 0.69%, and PGIM's dated JUNP and AUGP charge 0.50%.
  • Buffers are targets, not promises. Innovator states there is no guarantee the fund delivers the sought-after protection against index losses.innovatoretfs.com
  • Launched in 2026 and lightly traded, so there is little record to judge and spreads can run wider than in the category's biggest names.

Full TENJ profile⁠

Full XBFR profile⁠

TENJ vs XBFR 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.

TENJ vs XBFR Cost

Overpaying XBFR vs TENJ

$4,638

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

  • TENJ 0.53%

    $10,536

  • XBFR 0.79%

    $15,174

$10,000
30 years

Cost over time

  • TENJ 0.53%
  • XBFR 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$20K051015202530XBFR $15,174TENJ $10,536

Year by year

YearTENJXBFROverpaying
10$953$1,405$452
20$3,658$5,331$1,673
30$10,536$15,174$4,638

Expense ratio

  • 0.53%TENJ, cheaper
  • 0.79%XBFR
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

TENJ 11th cheapest of 77 funds

XBFR 34th cheapest of 77 funds

TENJ vs XBFR Dividends

Last 12 months to Nov 2, 2026
Last payment
TENJ $0.07
XBFR $0.02
Ex-dividend
TENJ Dec 23, 2025
XBFR Sep 30, 2026
Paid on
TENJ Dec 29, 2025
XBFR Oct 2, 2026
Frequency
TENJ Irregular
XBFR Quarterly

Distribution history

Per share, 2025 to 2026, same scale for both

TENJIrregular · 1 paymentAll TENJ payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.07. Use the arrow keys to read each point.$0$0.052026YTD
XBFRQuarterly · 3 paymentsAll XBFR payments⁠
One bar per payment. 3 payments from 2025 to 2026 YTD. Mar 31, 2026 $0.008; Jun 30, 2026 $0.02; Sep 30, 2026 $0.02. Use the arrow keys to read each point.$0$0.052026YTD

TENJ vs XBFR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
TENJ 8.6%since Nov 2025XBFR No data
Return per unit of riskSharpe ratio, 3 years
TENJ 0.90since Nov 2025XBFR No data
Worst fallMax drawdown, 5 years
TENJ −5.5%since Oct 2025XBFR No data
Market sensitivityBeta, 5 years
TENJ 0.63XBFR 0.47

Popular comparisons

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    iShares Large Cap 10% Target Buffer Jun ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
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