PJUN vs. BUFP

Last updated Jun 25, 2026

PJUN (Innovator U.S. Equity Power Buffer ETF - June) and BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) are both Defined Outcome funds - PJUN tracks the S&P 500 Price Return Index while BUFP tracks the S&P 500. Both are passively managed. Over the past year, PJUN returned 8.62% vs 14.68% for BUFP. Their correlation of 0.89 suggests significant overlap in exposure. PJUN charges 0.79%/yr vs 0.50%/yr for BUFP.

Performance

PJUN vs. BUFP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Power Buffer ETF - June (PJUN) 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, PJUN achieves a 2.32% return, which is significantly lower than BUFP's 5.50% return.

PJUN

• 1D: -0.12%
• 1M: -1.04%
• YTD: 2.32%
• 6M: 2.11%
• 1Y: 8.62%
• 3Y*: 11.01%
• 5Y*: 6.65%
• 10Y*: —

BUFP

• 1D: -0.09%
• 1M: -0.22%
• YTD: 5.50%
• 6M: 5.19%
• 1Y: 14.68%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PJUN vs. BUFP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
PJUN Innovator U.S. Equity Power Buffer ETF - June	2.32%	11.62%	6.08%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	5.50%	12.92%	6.30%

Correlation

The correlation between PJUN and BUFP is 0.86, 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	0.86
Correlation (All Time) Calculated using the full available price history since Jun 13, 2024	0.89

The correlation between PJUN and BUFP has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

PJUN vs. BUFP - Sectors Allocation Comparison

Sectors	PJUN	BUFP
Technology	38.4%	38.4%
Financial Services	11.0%	11.0%
Communication Services	10.8%	10.8%
Consumer Cyclical	10.0%	10.0%
Healthcare	8.4%	8.4%
Industrials	7.9%	7.9%
Consumer Defensive	4.6%	4.6%
Energy	3.2%	3.2%
Utilities	2.1%	2.1%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.7%

Return for Risk

PJUN vs. BUFP — Risk / Return Rank

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

PJUN

PJUN Risk / Return Rank: 71
PJUN Sharpe Ratio Rank: 61
PJUN Sortino Ratio Rank: 63
PJUN Omega Ratio Rank: 74
PJUN Calmar Ratio Rank: 70
PJUN Martin Ratio Rank: 85

BUFP

BUFP Risk / Return Rank: 84
BUFP Sharpe Ratio Rank: 82
BUFP Sortino Ratio Rank: 86
BUFP Omega Ratio Rank: 87
BUFP Calmar Ratio Rank: 74
BUFP Martin Ratio Rank: 90

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.

PJUN vs. BUFP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Power Buffer ETF - June (PJUN) 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.

	PJUN	BUFP	Difference
Sharpe ratio: Return per unit of total volatility	1.78	2.32	-0.54
Sortino ratio: Return per unit of downside risk	2.58	3.41	-0.82
Omega ratio: Gain probability vs. loss probability	1.38	1.47	-0.09
Calmar ratio: Return relative to maximum drawdown	3.10	3.34	-0.24
Martin ratio: Return relative to average drawdown	15.76	18.22	-2.46

PJUN vs. BUFP - Sharpe Ratio Comparison

The current PJUN Sharpe Ratio is 1.78, which is comparable to the BUFP Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of PJUN 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

PJUN vs. BUFP - Drawdown Comparison

The maximum PJUN drawdown since its inception was -16.31%, which is greater than BUFP's maximum drawdown of -11.98%. Use the drawdown chart below to compare losses from any high point for PJUN and BUFP.

Drawdown Indicators

	PJUN	BUFP	Difference
Max Drawdown Largest peak-to-trough decline	-16.31%	-11.98%	-4.33%
Max Drawdown (1Y) Largest decline over 1 year	-2.79%	-4.41%	+1.62%
Max Drawdown (3Y) Largest decline over 3 years	-10.09%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.51%	—	—
Current Drawdown Current decline from peak	-1.45%	-0.97%	-0.48%
Average Drawdown Average peak-to-trough decline	-1.86%	-0.99%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	0.81%	-0.26%

Volatility

PJUN vs. BUFP - Volatility Comparison

Innovator U.S. Equity Power Buffer ETF - June (PJUN) has a higher volatility of 2.48% compared to PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) at 2.12%. This indicates that PJUN'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

	PJUN	BUFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	2.12%	+0.36%
Volatility (6M) Calculated over the trailing 6-month period	4.03%	5.14%	-1.11%
Volatility (1Y) Calculated over the trailing 1-year period	4.88%	6.40%	-1.52%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.24%	9.46%	-1.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.72%	9.46%	+0.26%

PJUN vs. BUFP - Expense Ratio Comparison

PJUN has a 0.79% expense ratio, which is higher than BUFP's 0.50% expense ratio.

Dividends

PJUN vs. BUFP - Dividend Comparison

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

Position	TTM	2025	2024
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%
PJUN Innovator U.S. Equity Power Buffer ETF - June	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PJUN and BUFP in my portfolio?

PJUN and BUFP have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, PJUN or BUFP?

PJUN has higher volatility (2.48%) compared to BUFP (2.12%). In terms of maximum drawdown, PJUN dropped -16.31% vs BUFP's -11.98%.

Which ETF is better, PJUN or BUFP?

On 1-year performance, BUFP leads with 14.68% vs 8.62% for PJUN. On fees, BUFP is cheaper at 0.50% per year. On volatility, BUFP has been the lower-risk option at 2.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, PJUN or BUFP?

Over the 1-year period, BUFP has performed better with a 14.68% return vs 8.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, PJUN or BUFP?

BUFP is cheaper with a 0.50% expense ratio, compared with 0.79% for PJUN.

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

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

What is the main difference between PJUN and BUFP?

PJUN tracks S&P 500 Price Return Index, while BUFP tracks S&P 500. They also come from different issuers: Innovator and PGIM. Their fees differ too: 0.79% for PJUN and 0.50% for BUFP.

Which has better risk-adjusted returns?

BUFP currently has the higher Sharpe Ratio (2.32 vs 1.78), 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.