BJUL vs. SPY
Compare and contrast key facts about Innovator U.S. Equity Buffer ETF - July (BJUL) and State Street SPDR S&P 500 ETF (SPY).
BJUL and SPY are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. BJUL is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Aug 28, 2018. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993. Both BJUL and SPY are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.
Performance
BJUL vs. SPY - Performance Comparison
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BJUL vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
BJUL Innovator U.S. Equity Buffer ETF - July | -1.72% | 13.93% | 18.41% | 21.73% | -7.38% | 10.77% | 9.05% | 17.81% | -8.49% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -13.37% |
Returns By Period
In the year-to-date period, BJUL achieves a -1.72% return, which is significantly higher than SPY's -3.65% return.
BJUL
- 1D
- 0.41%
- 1M
- -2.54%
- YTD
- -1.72%
- 6M
- 0.16%
- 1Y
- 15.35%
- 3Y*
- 15.16%
- 5Y*
- 9.97%
- 10Y*
- —
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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BJUL vs. SPY - Expense Ratio Comparison
BJUL has a 0.79% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
BJUL vs. SPY — Risk / Return Rank
BJUL
SPY
BJUL vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Buffer ETF - July (BJUL) and State Street SPDR S&P 500 ETF (SPY). 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.
| BJUL | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 0.96 | +0.24 |
Sortino ratioReturn per unit of downside risk | 1.80 | 1.49 | +0.31 |
Omega ratioGain probability vs. loss probability | 1.29 | 1.23 | +0.06 |
Calmar ratioReturn relative to maximum drawdown | 1.72 | 1.53 | +0.19 |
Martin ratioReturn relative to average drawdown | 9.31 | 7.27 | +2.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| BJUL | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 0.96 | +0.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.87 | 0.70 | +0.17 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.79 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.67 | 0.56 | +0.11 |
Correlation
The correlation between BJUL and SPY is 0.94, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
BJUL vs. SPY - Dividend Comparison
BJUL has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.13%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BJUL Innovator U.S. Equity Buffer ETF - July | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
BJUL vs. SPY - Drawdown Comparison
The maximum BJUL drawdown since its inception was -24.03%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for BJUL and SPY.
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Drawdown Indicators
| BJUL | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -24.03% | -55.19% | +31.16% |
Max Drawdown (1Y)Largest decline over 1 year | -9.03% | -12.05% | +3.02% |
Max Drawdown (5Y)Largest decline over 5 years | -14.06% | -24.50% | +10.44% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -3.05% | -5.53% | +2.48% |
Average DrawdownAverage peak-to-trough decline | -2.55% | -9.09% | +6.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.67% | 2.54% | -0.87% |
Volatility
BJUL vs. SPY - Volatility Comparison
The current volatility for Innovator U.S. Equity Buffer ETF - July (BJUL) is 3.86%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.35%. This indicates that BJUL experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| BJUL | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.86% | 5.35% | -1.49% |
Volatility (6M)Calculated over the trailing 6-month period | 5.98% | 9.50% | -3.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 19.06% | -6.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.57% | 17.06% | -5.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.77% | 17.92% | -4.15% |