Which has more room to gain, AJUL or JUNM?

From their prices on Nov 4, 2026, AJUL can gain about 16.4% before its cap and JUNM about 4.9%, so AJUL has more room left this period.

Which resets first, AJUL or JUNM?

AJUL ends its outcome period on Jun 30, 2028 and JUNM on Jun 17, 2027. A new cap is set the day after each.

Which is cheaper, AJUL or JUNM?

AJUL charges 0.79% a year and JUNM charges 0.85%, so AJUL is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

AJUL vs JUNM: Cap, Buffer & Days Left

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As of Nov 4, 2026 JUNM can fall 2.3% before its buffer engages and AJUL 1.6%, and JUNM resets 379 days sooner.

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Net assets: $99m on Nov 4, 2026 for Innovator Equity Defined Protection ETF - Jul 2028, and $66m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - June.

AJUL on its own →JUNM on its own →

At a glance

1.6%

AJUL can fall this far before its buffer

2.3%

JUNM can fall this far before its buffer

16.4%

AJUL can still gain

4.9%

JUNM can still gain

AJUL Full floor

AJUL: reference +2.6% since period start, fund +1.4%; buffer Floor; cap +18.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

JUNM Full floor

JUNM: reference +2.7% since period start, fund +1.5%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

AJUL costs 0.06 points a year less; their one-year returns differ by 1.2 points; AJUL is 1.5 times larger.

Points (pts) are percentage points.

AJUL vs JUNM: Cap, Buffer & Days Left
Measure	AJUL	JUNM
Return
Measure	AJUL	JUNM
Total return, 1 year	+6.0%	+4.8%
Drawdown
Measure	AJUL	JUNM
Index fall to the buffer	2.6%
Benchmark
Measure	AJUL	JUNM
What it tracks	SPY	SPY
Cost and size
Measure	AJUL	JUNM
Expense ratio	0.79%	0.85%
Net assets, as of Nov 3, 2026	$98m	$66m
Holdings
Measure	AJUL	JUNM
Holdings in common	not published

Method

Window by window

Window by window: AJUL vs JUNM: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	AJUL	JUNM	AJUL	JUNM
3 months	+0.2%	+0.7%	+0.6 pts	+1.0 pts
6 months	+2.0%	+2.0%	−2.4 pts	−2.5 pts
1 year	+6.0%	+4.8%	−7.5 pts	−8.7 pts
Since launchNot the same days: AJUL Jul 2024 · JUNM Jun 2024	+17.7%	+16.6%	−22.9 pts	−24.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

AJUL Innovator Equity Defined Protection ETF - Jul 2028 · Absorbs the whole loss on SPY and caps the gain at 18.3%, over a period ending Jun 30, 2028 JUNM FT Vest U.S. Equity Max Buffer ETF - June · Absorbs the whole loss on SPY and caps the gain at 7.3%, over a period ending Jun 17, 2027

Issuer Innovator First Trust

Reference index SPY SPY

Buffer 100% 100%

Outcome period Jun 30, 2026 to Jun 30, 2028 Jun 22, 2026 to Jun 17, 2027

Days left 604 225

Starting cap +18.3% +7.3%

Can still gain 16.4% 4.9%

Fall before buffer 1.6% 2.3%

Protection left, index points 100.0% of 100.0% 100.0% of 100.0%

Index return this period +2.6% +2.7%

Fund return this period +1.4% +1.5%

State today Open Open

Expense ratio 0.79% 0.85%

Net assets, AJUL as of Nov 4, 2026 and JUNM as of Nov 3, 2026 $99m $66m

As of Nov 4, 2026. Source: ETFIQ.

They do not reset together. JUNM has 225 days of its period left and AJUL has 604, so the two are not the same bet on the same months.

Where each one stands today

JUNM resets first, on Jun 17, 2027, 225 days from now; AJUL runs to Jun 30, 2028, 604 days. AJUL can still gain 16.4% before its cap, JUNM 4.9%. A fall from here reaches AJUL’s buffer after 1.6% and JUNM’s after 2.3%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

AJUL

From its price on Nov 4, 2026, the fund can gain about 16.4% more before it reaches its cap. The fund's price can fall 1.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 604 days remained on Nov 4, 2026. On Jun 30, 2028 the period ends and a new cap is set.

JUNM

From its price on Nov 4, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 2.3% from here before the buffer starts absorbing losses, by the issuer's number. 225 days remained on Nov 4, 2026. On Jun 17, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, AJUL or JUNM?: From their prices on Nov 4, 2026, AJUL can gain about 16.4% before its cap and JUNM about 4.9%, so AJUL has more room left this period.
Which resets first, AJUL or JUNM?: AJUL ends its outcome period on Jun 30, 2028 and JUNM on Jun 17, 2027. A new cap is set the day after each.
Which is cheaper, AJUL or JUNM?: AJUL charges 0.79% a year and JUNM charges 0.85%, so AJUL is cheaper. Fees come from each fund's prospectus.

Other comparisons

AJUL vs PBJL AJUL vs XBJL AJUL vs JULT AJUL vs JULU JUNM vs TJUL JUNM vs XBJL JUNM vs PBJL JUNM vs XJUN

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →AJUL on its own →JUNM on its own →Method →Standards and sources →

Sources and dates

Innovator page for AJUL ↗

JUNM filings on SEC EDGAR ↗

First Trust page for JUNM ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AJUL against JUNM, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ajul-vs-junm

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.