UJUL vs. BJUL

Last updated Apr 2, 2026

Compare and contrast key facts about Innovator U.S. Equity Ultra Buffer ETF - July (UJUL) and Innovator U.S. Equity Buffer ETF - July (BJUL).

UJUL and BJUL are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. UJUL is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Aug 7, 2018. BJUL is a passively managed fund by Innovator that tracks the performance of the S&P 500. It was launched on Aug 28, 2018. Both UJUL and BJUL 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

UJUL vs. BJUL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - July (UJUL) and Innovator U.S. Equity Buffer ETF - July (BJUL). The values are adjusted to include any dividend payments, if applicable.

UJUL vs. BJUL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
UJUL Innovator U.S. Equity Ultra Buffer ETF - July	-0.72%	12.34%	13.84%	17.65%	-6.96%	4.61%	4.96%	12.99%	-7.15%
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%

Returns By Period

In the year-to-date period, UJUL achieves a -0.72% return, which is significantly higher than BJUL's -1.72% return.

UJUL

• 1D: 0.46%
• 1M: -1.63%
• YTD: -0.72%
• 6M: 0.88%
• 1Y: 14.52%
• 3Y*: 12.47%
• 5Y*: 7.52%
• 10Y*: —

BJUL

• 1D: 0.41%
• 1M: -2.54%
• YTD: -1.72%
• 6M: 0.16%
• 1Y: 15.35%
• 3Y*: 15.16%
• 5Y*: 9.97%
• 10Y*: —

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

UJUL vs. BJUL - Expense Ratio Comparison

Both UJUL and BJUL have an expense ratio of 0.79%.

UJUL

Innovator U.S. Equity Ultra Buffer ETF - July

BJUL

Innovator U.S. Equity Buffer ETF - July

Return for Risk

UJUL vs. BJUL — Risk / Return Rank

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

UJUL

UJUL Risk / Return Rank: 80
UJUL Sharpe Ratio Rank: 75
UJUL Sortino Ratio Rank: 80
UJUL Omega Ratio Rank: 85
UJUL Calmar Ratio Rank: 74
UJUL Martin Ratio Rank: 86

BJUL

BJUL Risk / Return Rank: 70
BJUL Sharpe Ratio Rank: 65
BJUL Sortino Ratio Rank: 69
BJUL Omega Ratio Rank: 73
BJUL Calmar Ratio Rank: 63
BJUL Martin Ratio Rank: 79

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.

UJUL vs. BJUL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - July (UJUL) and Innovator U.S. Equity Buffer ETF - July (BJUL). 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.

	UJUL	BJUL	Difference
Sharpe ratio Return per unit of total volatility	1.44	1.20	+0.24
Sortino ratio Return per unit of downside risk	2.17	1.80	+0.37
Omega ratio Gain probability vs. loss probability	1.35	1.29	+0.07
Calmar ratio Return relative to maximum drawdown	2.11	1.72	+0.38
Martin ratio Return relative to average drawdown	10.95	9.31	+1.63
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

UJUL vs. BJUL - Sharpe Ratio Comparison

The current UJUL Sharpe Ratio is 1.44, which is comparable to the BJUL Sharpe Ratio of 1.20. The chart below compares the historical Sharpe Ratios of UJUL and BJUL, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	UJUL	BJUL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.20	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.93	0.87	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.73	0.67	+0.06

Correlation

The correlation between UJUL and BJUL is 0.90, 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

UJUL vs. BJUL - Dividend Comparison

Neither UJUL nor BJUL has paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019
UJUL Innovator U.S. Equity Ultra Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.43%
BJUL Innovator U.S. Equity Buffer ETF - July	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

UJUL vs. BJUL - Drawdown Comparison

The maximum UJUL drawdown since its inception was -14.11%, smaller than the maximum BJUL drawdown of -24.03%. Use the drawdown chart below to compare losses from any high point for UJUL and BJUL.

Drawdown Indicators

	UJUL	BJUL	Difference
Max Drawdown Largest peak-to-trough decline	-14.11%	-24.03%	+9.92%
Max Drawdown (1Y) Largest decline over 1 year	-6.99%	-9.03%	+2.04%
Max Drawdown (5Y) Largest decline over 5 years	-11.38%	-14.06%	+2.68%
Current Drawdown Current decline from peak	-1.91%	-3.05%	+1.14%
Average Drawdown Average peak-to-trough decline	-1.90%	-2.55%	+0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.35%	1.67%	-0.32%

Volatility

UJUL vs. BJUL - Volatility Comparison

The current volatility for Innovator U.S. Equity Ultra Buffer ETF - July (UJUL) is 3.01%, while Innovator U.S. Equity Buffer ETF - July (BJUL) has a volatility of 3.86%. This indicates that UJUL experiences smaller price fluctuations and is considered to be less risky than BJUL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UJUL	BJUL	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.01%	3.86%	-0.85%
Volatility (6M) Calculated over the trailing 6-month period	4.21%	5.98%	-1.77%
Volatility (1Y) Calculated over the trailing 1-year period	10.13%	12.89%	-2.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.09%	11.57%	-3.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.02%	13.77%	-4.75%