IJUL vs. BUFP

Last updated Aug 2, 2026

IJUL (Innovator International Developed Power Buffer ETF - July) and BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) are both Defined Outcome funds - IJUL tracks the MSCI EAFE Index while BUFP tracks the S&P 500. Both are passively managed. Over the past year, IJUL returned 15.64% vs 14.24% for BUFP. Their 0.67 correlation means they have sometimes moved together and sometimes differently. IJUL charges 0.85%/yr vs 0.50%/yr for BUFP.

Performance

IJUL vs. BUFP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator International Developed Power Buffer ETF - July (IJUL) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IJUL achieves a 8.75% return, which is significantly higher than BUFP's 7.12% return.

IJUL

• 1D: -0.33%
• 1M: 0.75%
• 6M: 6.43%
• YTD: 8.75%
• 1Y: 15.64%
• 3Y*: 11.33%
• 5Y*: 8.32%
• 10Y*: —
• ALL TIME*: 6.71%

BUFP

• 1D: 0.44%
• 1M: 0.69%
• 6M: 6.15%
• YTD: 7.12%
• 1Y: 14.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	$1.13M	$1.22M	$1.53M
IJUL Innovator International Developed Power Buffer ETF - July	$1.86M	$3.14M	$1.80M

IJUL vs. BUFP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
IJUL Innovator International Developed Power Buffer ETF - July	8.75%	20.98%	-3.49%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	7.12%	12.92%	6.30%

Correlation

The correlation between IJUL and BUFP is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.76
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024	0.67

The correlation between IJUL and BUFP has been stable across timeframes, ranging from 0.67 to 0.76 - a consistent structural relationship.

IJUL vs. BUFP - Sectors Allocation Comparison

Sectors	IJUL	BUFP
Financial Services	24.7%	11.7%
Industrials	18.8%	8.4%
Technology	12.6%	37.9%
Healthcare	10.5%	9.1%
Consumer Cyclical	7.5%	9.6%
Consumer Defensive	6.8%	4.6%
Basic Materials	5.8%	1.7%
Communication Services	4.5%	10.0%
Utilities	3.8%	2.3%
Energy	3.3%	3.0%
Real Estate	1.7%	1.9%

Return for Risk

IJUL vs. BUFP — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

IJUL

IJUL Risk / Return Rank: 84
IJUL Sharpe Ratio Rank: 85
IJUL Sortino Ratio Rank: 86
IJUL Omega Ratio Rank: 86
IJUL Calmar Ratio Rank: 80
IJUL Martin Ratio Rank: 86

BUFP

BUFP Risk / Return Rank: 88
BUFP Sharpe Ratio Rank: 86
BUFP Sortino Ratio Rank: 88
BUFP Omega Ratio Rank: 90
BUFP Calmar Ratio Rank: 82
BUFP Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

IJUL vs. BUFP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator International Developed Power Buffer ETF - July (IJUL) and PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IJUL	BUFP	Difference
Sharpe ratio: Return per unit of total volatility	1.99	2.06	-0.06
Sortino ratio: Return per unit of downside risk	2.88	3.03	-0.15
Omega ratio: Gain probability vs. loss probability	1.38	1.41	-0.03
Calmar ratio: Return relative to maximum drawdown	2.94	3.02	-0.07
Martin ratio: Return relative to average drawdown	12.24	16.13	-3.89

IJUL vs. BUFP - Sharpe Ratio Comparison

The current IJUL Sharpe Ratio is 1.99, which is comparable to the BUFP Sharpe Ratio of 2.06. The chart below compares the historical Sharpe Ratios of IJUL and BUFP, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IJUL vs. BUFP - Drawdown Comparison

The maximum IJUL drawdown since its inception was -21.09%, which is greater than BUFP's maximum drawdown of -11.98%. Use the drawdown chart below to compare losses from any high point for IJUL and BUFP.

Drawdown Indicators

	IJUL	BUFP	Difference
Max Drawdown Largest peak-to-trough decline	-21.09%	-11.98%	-9.11%
Max Drawdown (1Y) Largest decline over 1 year	-5.35%	-4.41%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	-8.27%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.59%	—	—
Current Drawdown Current decline from peak	-0.33%	-0.12%	-0.21%
Average Drawdown Average peak-to-trough decline	-2.50%	-0.97%	-1.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	0.83%	+0.45%

Volatility

IJUL vs. BUFP - Volatility Comparison

Innovator International Developed Power Buffer ETF - July (IJUL) has a higher volatility of 2.82% compared to PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) at 1.63%. This indicates that IJUL's price experiences larger fluctuations and is considered to be riskier than BUFP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IJUL	BUFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	1.63%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	6.68%	5.23%	+1.45%
Volatility (1Y) Calculated over the trailing 1-year period	7.94%	6.48%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.92%	9.30%	+0.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.03%	9.30%	+1.73%

IJUL vs. BUFP - Expense Ratio Comparison

IJUL has a 0.85% expense ratio, which is higher than BUFP's 0.50% expense ratio.

Dividends

IJUL vs. BUFP - Dividend Comparison

IJUL has not paid dividends to shareholders, while BUFP's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%	0.00%	0.00%	0.00%	0.00%	0.00%
IJUL Innovator International Developed Power Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.99%

Frequently Asked Questions

Can I hold both IJUL and BUFP in my portfolio?

IJUL and BUFP have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IJUL or BUFP?

IJUL has higher volatility (2.82%) compared to BUFP (1.63%). In terms of maximum drawdown, IJUL dropped -21.09% vs BUFP's -11.98%.

Which ETF is better, IJUL or BUFP?

On 1-year performance, IJUL leads with 15.64% vs 14.24% for BUFP. On fees, BUFP is cheaper at 0.50% per year. On volatility, BUFP has been the lower-risk option at 1.63%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IJUL or BUFP?

Over the 1-year period, IJUL has performed better with a 15.64% return vs 14.24%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IJUL or BUFP?

BUFP is cheaper with a 0.50% expense ratio, compared with 0.85% for IJUL.

Which ETF pays a higher dividend yield, IJUL or BUFP?

BUFP has the higher dividend yield at 0.01%, compared with 0.00% for IJUL.

What is the main difference between IJUL and BUFP?

IJUL tracks MSCI EAFE Index, while BUFP tracks S&P 500. They also come from different issuers: Innovator and PGIM. Their fees differ too: 0.85% for IJUL and 0.50% for BUFP.

Which has better risk-adjusted returns?

BUFP currently has the higher Sharpe Ratio (2.06 vs 1.99), 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.