LJUL vs. FBUF

Last updated Apr 4, 2026

Compare and contrast key facts about Innovator Premium Income 15 Buffer ETF - July (LJUL) and Fidelity Dynamic Buffered Equity ETF (FBUF).

LJUL and FBUF are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. LJUL is an actively managed fund by Innovator. It was launched on Jun 28, 2024. FBUF is an actively managed fund by Fidelity. It was launched on Apr 9, 2024.

Performance

LJUL vs. FBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Premium Income 15 Buffer ETF - July (LJUL) and Fidelity Dynamic Buffered Equity ETF (FBUF). The values are adjusted to include any dividend payments, if applicable.

LJUL vs. FBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
LJUL Innovator Premium Income 15 Buffer ETF - July	0.83%	5.91%	3.27%
FBUF Fidelity Dynamic Buffered Equity ETF	-1.98%	14.01%	6.79%

Returns By Period

In the year-to-date period, LJUL achieves a 0.83% return, which is significantly higher than FBUF's -1.98% return.

LJUL

• 1D: 0.03%
• 1M: 0.23%
• YTD: 0.83%
• 6M: 2.16%
• 1Y: 6.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBUF

• 1D: 0.17%
• 1M: -2.79%
• YTD: -1.98%
• 6M: 1.07%
• 1Y: 17.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

LJUL vs. FBUF - Expense Ratio Comparison

LJUL has a 0.79% expense ratio, which is higher than FBUF's 0.48% expense ratio.

LJUL

Innovator Premium Income 15 Buffer ETF - July

FBUF

Fidelity Dynamic Buffered Equity ETF

Return for Risk

LJUL vs. FBUF — Risk / Return Rank

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

LJUL

LJUL Risk / Return Rank: 80
LJUL Sharpe Ratio Rank: 74
LJUL Sortino Ratio Rank: 83
LJUL Omega Ratio Rank: 95
LJUL Calmar Ratio Rank: 55
LJUL Martin Ratio Rank: 94

FBUF

FBUF Risk / Return Rank: 69
FBUF Sharpe Ratio Rank: 69
FBUF Sortino Ratio Rank: 68
FBUF Omega Ratio Rank: 73
FBUF Calmar Ratio Rank: 66
FBUF Martin Ratio Rank: 70

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.

LJUL vs. FBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Premium Income 15 Buffer ETF - July (LJUL) and Fidelity Dynamic Buffered Equity ETF (FBUF). 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.

	LJUL	FBUF	Difference
Sharpe ratio Return per unit of total volatility	1.42	1.29	+0.13
Sortino ratio Return per unit of downside risk	2.29	1.81	+0.47
Omega ratio Gain probability vs. loss probability	1.49	1.29	+0.21
Calmar ratio Return relative to maximum drawdown	1.77	2.13	-0.35
Martin ratio Return relative to average drawdown	16.27	8.97	+7.30
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LJUL vs. FBUF - Sharpe Ratio Comparison

The current LJUL Sharpe Ratio is 1.42, which is comparable to the FBUF Sharpe Ratio of 1.29. The chart below compares the historical Sharpe Ratios of LJUL and FBUF, 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

	LJUL	FBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.42	1.29	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	1.70	1.13	+0.57

Correlation

The correlation between LJUL and FBUF is 0.72, 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

LJUL vs. FBUF - Dividend Comparison

LJUL's dividend yield for the trailing twelve months is around 5.29%, more than FBUF's 0.67% yield.

	TTM	2025	2024
LJUL Innovator Premium Income 15 Buffer ETF - July	5.29%	5.36%	2.78%
FBUF Fidelity Dynamic Buffered Equity ETF	0.67%	0.64%	0.54%

Drawdowns

LJUL vs. FBUF - Drawdown Comparison

The maximum LJUL drawdown since its inception was -3.21%, smaller than the maximum FBUF drawdown of -11.09%. Use the drawdown chart below to compare losses from any high point for LJUL and FBUF.

Drawdown Indicators

	LJUL	FBUF	Difference
Max Drawdown Largest peak-to-trough decline	-3.21%	-11.09%	+7.88%
Max Drawdown (1Y) Largest decline over 1 year	-1.08%	-5.61%	+4.53%
Current Drawdown Current decline from peak	0.00%	-3.80%	+3.80%
Average Drawdown Average peak-to-trough decline	-0.13%	-1.43%	+1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.35%	1.61%	-1.26%

Volatility

LJUL vs. FBUF - Volatility Comparison

The current volatility for Innovator Premium Income 15 Buffer ETF - July (LJUL) is 0.76%, while Fidelity Dynamic Buffered Equity ETF (FBUF) has a volatility of 3.03%. This indicates that LJUL experiences smaller price fluctuations and is considered to be less risky than FBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	LJUL	FBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	3.03%	-2.27%
Volatility (6M) Calculated over the trailing 6-month period	1.30%	6.52%	-5.22%
Volatility (1Y) Calculated over the trailing 1-year period	3.96%	10.76%	-6.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.39%	9.85%	-6.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.39%	9.85%	-6.46%