Innovator 20+ Year Treasury Bond Buffer ETF – July (TBJL) Alternatives

Innovator 20+ Year Treasury Bond Buffer ETF – July (TBJL) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with TBJL. Use the tables to find lower-cost options, better risk-adjusted returns, or funds that fit a different role in your portfolio.

Cheapest Alternatives to TBJL

TBJL charges 0.79% annually. Among ETFs in the Defined Outcome category, these options have the lowest expense ratios among TBJL alternatives.

Symbol	Name	Expense Ratio	Inception
FBUF	Fidelity Dynamic Buffered Equity ETF	0.48%	Apr 9, 2024	TBJL vs FBUF
SMAX	iShares Large Cap Max Buffer Sep ETF	0.50%	Sep 30, 2024	TBJL vs SMAX
BUFP	PGIM Laddered S&P 500 Buffer 12 ETF	0.50%	Jun 11, 2024	TBJL vs BUFP
DMAX	iShares Large Cap Max Buffer December ETF	0.50%	Dec 31, 2024	TBJL vs DMAX
PBFR	PGIM Laddered S&P 500 Buffer 20 ETF	0.50%	Jun 11, 2024	TBJL vs PBFR

Best Risk-Adjusted Alternatives to TBJL

Among ETFs in the Defined Outcome category, these options rank highest on PortfoliosLab's risk-adjusted score, which accounts for volatility, drawdown, and return consistency over a 1-year period.

Symbol	Name	Risk / Return Rank	Inception
ZDEK	Innovator Equity Defined Protection ETF - 1 Yr Dec...	96	Dec 1, 2024	TBJL vs ZDEK
ZFEB	Innovator Equity Defined Protection ETF - 1 Yr Feb...	96	Feb 3, 2025	TBJL vs ZFEB
DMAX	iShares Large Cap Max Buffer December ETF	95	Dec 31, 2024	TBJL vs DMAX
ZMAR	Innovator Equity Defined Protection ETF - 1 Yr Mar...	95	Mar 3, 2025	TBJL vs ZMAR
ZJAN	Innovator Equity Defined Protection ETF - 1 Yr Jan...	95	Dec 31, 2024	TBJL vs ZJAN

Top Performing TBJL Alternatives (YTD)

TBJL alternatives from the Defined Outcome category, sorted by year-to-date return.

Symbol	Name	YTD Return	Inception
IAPR	Innovator International Developed Power Buffer ETF...	3.70%	Mar 31, 2021	TBJL vs IAPR
KAPR	Innovator Russell 2000 Power Buffer ETF - April	3.36%	Mar 31, 2020	TBJL vs KAPR
BAPR	Innovator U.S. Equity Buffer ETF - April	2.86%	Mar 29, 2019	TBJL vs BAPR
FMAR	FT Vest U.S. Equity Buffer ETF - March	2.73%	Mar 19, 2021	TBJL vs FMAR
EAPR	Innovator Emerging Markets Power Buffer ETF - Apri...	2.56%	Mar 31, 2021	TBJL vs EAPR

Lowest Volatility Alternatives to TBJL

TBJL alternatives from the Defined Outcome category, sorted by annualized volatility over the past year.

Symbol	Name	Volatility 1Y	Inception
ZMAY	Innovator Equity Defined Protection ETF - 1 Yr May	1.50%	May 1, 2025	TBJL vs ZMAY
ZJUN	Innovator Equity Defined Protection ETF - 1 Yr Jun...	1.91%	May 30, 2025	TBJL vs ZJUN
AIOO	AllianzIM U.S. Equity Buffer100 Protection ETF	1.98%	Jun 30, 2025	TBJL vs AIOO
ZAPR	Innovator Equity Defined Protection ETF - 1 Yr Apr...	2.61%	Apr 1, 2025	TBJL vs ZAPR
MMAX	iShares Large Cap Max Buffer Mar ETF	2.61%	Mar 31, 2025	TBJL vs MMAX

Lowest Drawdown Alternatives to TBJL

TBJL alternatives from the Defined Outcome category, sorted by maximum drawdown over the past year.

Symbol	Name	Max Drawdown 1Y	Inception
ZFEB	Innovator Equity Defined Protection ETF - 1 Yr Feb...	-1.56%	Feb 3, 2025	TBJL vs ZFEB
ZDEK	Innovator Equity Defined Protection ETF - 1 Yr Dec...	-1.57%	Dec 1, 2024	TBJL vs ZDEK
ZAPR	Innovator Equity Defined Protection ETF - 1 Yr Apr...	-1.72%	Apr 1, 2025	TBJL vs ZAPR
ZJAN	Innovator Equity Defined Protection ETF - 1 Yr Jan...	-1.87%	Dec 31, 2024	TBJL vs ZJAN
ZOCT	Innovator Equity Defined Protection ETF - 1 Yr Oct...	-1.91%	Oct 1, 2024	TBJL vs ZOCT

Other ETFs from Innovator

Most popular Innovator ETFs on PortfoliosLab, across asset classes.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
BALT	Innovator Defined Wealth Shield ETF	Defined Outcome	84	0.00%	Jun 30, 2021	TBJL vs BALT
FFTY	Innovator IBD 50 ETF	Large Cap Growth Equities	41	-2.33%	Apr 9, 2015	TBJL vs FFTY
BUFF	Innovator Laddered Allocation Power Buffer ETF	Defined Outcome	74	-0.54%	Oct 20, 2016	TBJL vs BUFF
LOUP	Innovator Deepwater Frontier Tech ETF	Technology Equities	78	-8.46%	Jul 24, 2018	TBJL vs LOUP
SFLR	Innovator Equity Managed Floor ETF	Options Trading	71	-3.03%	Nov 8, 2022	TBJL vs SFLR
PJAN	Innovator U.S. Equity Power Buffer ETF - January	Defined Outcome	67	-1.66%	Jan 2, 2019	TBJL vs PJAN
PJUL	Innovator U.S. Equity Power Buffer ETF - July	Defined Outcome	81	-0.60%	Aug 7, 2018	TBJL vs PJUL
POCT	Innovator U.S. Equity Power Buffer ETF October	Defined Outcome	64	-1.42%	Sep 28, 2018	TBJL vs POCT
UAUG	Innovator U.S. Equity Ultra Buffer ETF - August	Defined Outcome	81	-1.08%	Jul 31, 2019	TBJL vs UAUG
BOUT	Innovator IBD Breakout Opportunities ETF	Mid Cap Growth Equities	25	9.59%	Sep 13, 2018	TBJL vs BOUT

Often Compared With TBJL

What investors most often compare with TBJL, based on PortfoliosLab usage data.

Symbol	Name	Category	Risk / Return Rank	YTD Return	Inception
SPLV	Invesco S&P 500 Low Volatility ETF	S&P 500, Large Cap Value Equities	12	3.24%	May 5, 2011	TBJL vs SPLV
SPY	State Street SPDR S&P 500 ETF	S&P 500	59	-3.65%	Jan 22, 1993	TBJL vs SPY
JPST	JPMorgan Ultra-Short Income ETF	Ultrashort Bond	99	0.71%	May 17, 2017	TBJL vs JPST
VOO	Vanguard S&P 500 ETF	S&P 500	60	-3.66%	Sep 7, 2010	TBJL vs VOO
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	High Yield Bonds	73	-0.11%	Apr 11, 2007	TBJL vs HYG
XBAP	Innovator U.S. Equity Accelerated 9 Buffer ETF - A...	Defined Outcome	74	1.92%	Mar 31, 2021	TBJL vs XBAP
NAPR	Innovator Nasdaq-100 Power Buffer ETF - April	Defined Outcome	85	2.50%	Mar 31, 2020	TBJL vs NAPR

Compare TBJL with Any Fund or Stock

Compare TBJL with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.

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Innovator 20+ Year Treasury Bond Buffer ETF – July

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