BFEB vs. BJUN

Last updated Jun 10, 2026

BFEB (Innovator S&P 500 Buffer ETF - February) and BJUN (Innovator U.S. Equity Buffer ETF - June) are both exchange-traded funds - BFEB is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index February Series, while BJUN is a Defined Outcome fund tracking the S&P 500 Price Return Index. Both are passively managed. Over the past 5 years, BFEB returned 11.36%/yr vs 8.38%/yr for BJUN. Their correlation of 0.92 suggests significant overlap in exposure. Both charge a 0.79% expense ratio.

Performance

BFEB vs. BJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator S&P 500 Buffer ETF - February (BFEB) and Innovator U.S. Equity Buffer ETF - June (BJUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFEB achieves a 6.91% return, which is significantly higher than BJUN's 3.04% return.

BFEB

• 1D: -0.21%
• 1M: 0.20%
• YTD: 6.91%
• 6M: 7.74%
• 1Y: 19.12%
• 3Y*: 16.06%
• 5Y*: 11.36%
• 10Y*: —

BJUN

• 1D: 0.21%
• 1M: -1.18%
• YTD: 3.04%
• 6M: 3.71%
• 1Y: 12.46%
• 3Y*: 13.81%
• 5Y*: 8.38%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BFEB vs. BJUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BFEB Innovator S&P 500 Buffer ETF - February	6.91%	12.99%	17.58%	22.35%	-6.76%	18.05%	6.01%
BJUN Innovator U.S. Equity Buffer ETF - June	3.04%	12.57%	16.31%	16.81%	-11.47%	10.73%	10.11%

Correlation

The correlation between BFEB and BJUN is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (3Y) Calculated over the trailing 3-year period	0.92
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Feb 3, 2020	0.92

The correlation between BFEB and BJUN has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

BFEB vs. BJUN - Sectors Allocation Comparison

Sectors	BFEB	BJUN
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

BFEB vs. BJUN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BFEB

BFEB Risk / Return Rank: 81
BFEB Sharpe Ratio Rank: 83
BFEB Sortino Ratio Rank: 84
BFEB Omega Ratio Rank: 85
BFEB Calmar Ratio Rank: 68
BFEB Martin Ratio Rank: 85

BJUN

BJUN Risk / Return Rank: 70
BJUN Sharpe Ratio Rank: 63
BJUN Sortino Ratio Rank: 65
BJUN Omega Ratio Rank: 75
BJUN Calmar Ratio Rank: 64
BJUN Martin Ratio Rank: 85

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFEB vs. BJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator S&P 500 Buffer ETF - February (BFEB) and Innovator U.S. Equity Buffer ETF - June (BJUN). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	BFEB	BJUN	Difference
Sharpe ratio: Return per unit of total volatility	2.34	1.88	+0.46
Sortino ratio: Return per unit of downside risk	3.30	2.70	+0.61
Omega ratio: Gain probability vs. loss probability	1.45	1.40	+0.05
Calmar ratio: Return relative to maximum drawdown	3.00	2.87	+0.13
Martin ratio: Return relative to average drawdown	15.16	15.89	-0.73
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFEB vs. BJUN - Sharpe Ratio Comparison

The current BFEB Sharpe Ratio is 2.34, which is comparable to the BJUN Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of BFEB and BJUN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BFEB	BJUN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.34	1.88	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.00	0.77	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.73	+0.10

Drawdowns

BFEB vs. BJUN - Drawdown Comparison

The maximum BFEB drawdown since its inception was -27.20%, which is greater than BJUN's maximum drawdown of -22.71%. Use the drawdown chart below to compare losses from any high point for BFEB and BJUN.

Drawdown Indicators

	BFEB	BJUN	Difference
Max Drawdown Largest peak-to-trough decline	-27.20%	-22.71%	-4.49%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-4.36%	-2.05%
Max Drawdown (3Y) Largest decline over 3 years	-13.82%	-12.69%	-1.13%
Max Drawdown (5Y) Largest decline over 5 years	-14.84%	-16.69%	+1.85%
Current Drawdown Current decline from peak	-1.51%	-1.85%	+0.34%
Average Drawdown Average peak-to-trough decline	-2.78%	-2.85%	+0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	0.79%	+0.47%

Volatility

BFEB vs. BJUN - Volatility Comparison

Innovator S&P 500 Buffer ETF - February (BFEB) and Innovator U.S. Equity Buffer ETF - June (BJUN) have volatilities of 2.00% and 2.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFEB	BJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.00%	2.08%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	6.51%	5.08%	+1.43%
Volatility (1Y) Calculated over the trailing 1-year period	8.20%	6.66%	+1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.41%	10.91%	+0.50%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.26%	13.22%	+1.04%

BFEB vs. BJUN - Expense Ratio Comparison

Both BFEB and BJUN have an expense ratio of 0.79%.

Dividends

BFEB vs. BJUN - Dividend Comparison

Neither BFEB nor BJUN has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BFEB and BJUN in my portfolio?

With a correlation of 0.91, BFEB and BJUN move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BFEB or BJUN?

BJUN has higher volatility (2.08%) compared to BFEB (2.00%). In terms of maximum drawdown, BFEB dropped -27.20% vs BJUN's -22.71%.

Which ETF is better, BFEB or BJUN?

On 5-year performance, BFEB leads with 11.36% vs 8.38% for BJUN. Both ETFs have the same 0.79% expense ratio. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BFEB or BJUN?

Over the 5-year period, BFEB has performed better with a 11.36% return vs 8.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BFEB or BJUN?

BFEB and BJUN have the same expense ratio: 0.79% per year.

Which ETF pays a higher dividend yield, BFEB or BJUN?

BFEB and BJUN have nearly identical dividend yields, around 0.00%.

What is the main difference between BFEB and BJUN?

BFEB is categorized as Options Trading, while BJUN is Defined Outcome. BFEB tracks Cboe S&P 500 Buffer Protect Index February Series, while BJUN tracks S&P 500 Price Return Index.

Which has better risk-adjusted returns?

BFEB currently has the higher Sharpe Ratio (2.34 vs 1.88), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.