Which has more room to gain, DJUL or JULM?

From their prices on Nov 4, 2026, DJUL can gain about 10.2% before its cap and JULM about 5.1%, so DJUL has more room left this period.

Which resets first, DJUL or JULM?

DJUL ends its outcome period on Jul 16, 2027 and JULM on Jul 16, 2027. A new cap is set the day after each.

Which is cheaper, DJUL or JULM?

DJUL and JULM both charge 0.85% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DJUL vs JULM: Cap, Buffer & Days Left

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As of Nov 4, 2026 DJUL can fall 8.0% before its buffer engages and JULM 2.2%.

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Net assets on Nov 3, 2026: $491m for FT Vest U.S. Equity Deep Buffer ETF - July and $36m for FT Vest U.S. Equity Max Buffer ETF - July.

DJUL on its own →JULM on its own →

At a glance

8.0%

DJUL can fall this far before its buffer

2.2%

JULM can fall this far before its buffer

10.2%

DJUL can still gain

5.1%

JULM can still gain

DJUL Between buffer and cap

DJUL: reference +3.1% since period start, fund +2.3%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Nov 4, 2026.

JULM Full floor

JULM: reference +3.1% since period start, fund +1.4%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

Both cost 0.85% a year; their one-year returns differ by 4.3 points; DJUL is 13.6 times larger.

Points (pts) are percentage points.

DJUL vs JULM: Cap, Buffer & Days Left
Measure	DJUL	JULM
Return
Measure	DJUL	JULM
Total return, 1 year	+9.8%	+5.5%
Drawdown
Measure	DJUL	JULM
Index fall to the buffer	7.9%	3.1%
Benchmark
Measure	DJUL	JULM
What it tracks	SPY	SPY
Cost and size
Measure	DJUL	JULM
Expense ratio	0.85%	0.85%
Net assets, as of Nov 3, 2026	$491m	$36m
Holdings
Measure	DJUL	JULM
Holdings in common	not published

Method

Window by window

Window by window: DJUL vs JULM: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DJUL	JULM	DJUL	JULM
3 months	+0.6%	+0.6%	+1.0 pts	+1.0 pts
6 months	+4.3%	+2.4%	−0.2 pts	−2.1 pts
1 year	+9.8%	+5.5%	−3.8 pts	−8.1 pts
3 years	+50.1%	–	−26.3 pts	–
Since launchNot the same days: DJUL Jul 2020 · JULM Jul 2024	+69.5%	+15.8%	−66.9 pts	−26.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

DJUL FT Vest U.S. Equity Deep Buffer ETF - July · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 13.6%, over a period ending Jul 16, 2027 JULM FT Vest U.S. Equity Max Buffer ETF - July · Absorbs the whole loss on SPY and caps the gain at 7.3%, over a period ending Jul 16, 2027

Issuer First Trust First Trust

Reference index SPY SPY

Buffer 5% to 30% 100%

Outcome period Jul 20, 2026 to Jul 16, 2027 Jul 20, 2026 to Jul 16, 2027

Days left 254 254

Starting cap +13.6% +7.3%

Can still gain 10.2% 5.1%

Fall before buffer 8.0% 2.2%

Protection left, index points 25.0% of 25.0% 100.0% of 100.0%

Index return this period +3.1% +3.1%

Fund return this period +2.3% +1.4%

State today Open Open

Expense ratio 0.85% 0.85%

Net assets, as of Nov 3, 2026 $491m $36m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. JULM is a floor fund, which caps how far a holder can fall. DJUL is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Both are First Trust funds, so the difference between them is the terms rather than the house.

Where each one stands today

DJUL resets first, on Jul 16, 2027, 254 days from now; JULM runs to Jul 16, 2027, 254 days. DJUL can still gain 10.2% before its cap, JULM 5.1%. A fall from here reaches DJUL’s buffer after 8.0% and JULM’s after 2.2%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DJUL

From its price on Nov 4, 2026, the fund can gain about 10.2% more before it reaches its cap. The fund's price can fall 8.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.9% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 254 days remained on Nov 4, 2026. On Jul 16, 2027 the period ends and a new cap is set.

JULM

From its price on Nov 4, 2026, the fund can gain about 5.1% more before it reaches its cap. The fund's price can fall 2.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.1% 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.

Questions people ask

Which has more room to gain, DJUL or JULM?: From their prices on Nov 4, 2026, DJUL can gain about 10.2% before its cap and JULM about 5.1%, so DJUL has more room left this period.
Which resets first, DJUL or JULM?: DJUL ends its outcome period on Jul 16, 2027 and JULM on Jul 16, 2027. A new cap is set the day after each.
Which is cheaper, DJUL or JULM?: DJUL and JULM both charge 0.85% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

DJUL vs GJUL DJUL vs DOCT DJUL vs GJAN DJUL vs HAUG JULM vs AUGC JULM vs GJUL JULM vs PAUG JULM vs FJUL

Where to next

State Street® SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DJUL on its own →JULM on its own →Method →Standards and sources →

Sources and dates

DJUL and JULM filings on SEC EDGAR ↗

First Trust page for DJUL ↗

First Trust page for JULM ↗

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, DJUL against JULM, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/djul-vs-julm

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