Which resets first, DLMY or JNEU?

DLMY ends its outcome period on May 21, 2027 and JNEU on May 31, 2027. New terms are set the day after each.

Which is cheaper, DLMY or JNEU?

DLMY charges 0.85% a year and JNEU charges 0.74%, so JNEU is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DLMY vs JNEU: Cap, Buffer & Days Left

Share on X Download as PDF

As of Nov 4, 2026 DLMY can fall 4.5% before its buffer engages and JNEU 0.9%, and DLMY resets 10 days sooner.

askIQ about this page

askIQ about DLMY and JNEU

Net assets on Nov 3, 2026: $12m for FT Vest U.S. Equity Dual Directional Buffer ETF - May and $42m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jun.

DLMY on its own →JNEU on its own →

At a glance

4.5%

DLMY can fall this far before its buffer

0.9%

JNEU can fall this far before its buffer

9.0%

DLMY can still gain

uncapped

JNEU can still gain

DLMY Between buffer and cap

DLMY: reference +3.7% since period start, fund +3.9%; buffer 0 to −10; cap +14.1%; Between buffer and cap. Data to Nov 4, 2026.

JNEU No cap

JNEU: reference +1.4% since period start, fund +0.2%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

Pair scorecard

JNEU costs 0.11 points a year less; JNEU is 3.5 times larger.

Points (pts) are percentage points.

DLMY vs JNEU: Cap, Buffer & Days Left
Measure	DLMY	JNEU
Return
Measure	DLMY	JNEU
Total return, 1 year	not published	+10.9%
Drawdown
Measure	DLMY	JNEU
Index fall to the buffer	3.6%	1.3%
Benchmark
Measure	DLMY	JNEU
What it tracks	SPY	SPY
Cost and size
Measure	DLMY	JNEU
Expense ratio	0.85%	0.74%
Net assets, as of Nov 3, 2026	$12m	$42m
Holdings
Measure	DLMY	JNEU
Holdings in common	not published

Method

Window by window

Window by window: DLMY vs JNEU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DLMY	JNEU	DLMY	JNEU
3 months	+0.8%	−0.9%	+1.2 pts	−0.5 pts
6 months	–	+3.2%	–	−1.3 pts
1 year	–	+10.9%	–	−2.7 pts
Since launchNot the same days: DLMY May 2026 · JNEU Jun 2024	+3.6%	+34.1%	−0.2 pts	−11.2 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

DLMY FT Vest U.S. Equity Dual Directional Buffer ETF - May · Absorbs the first 10% of loss on SPY and caps the gain at 14.1%, over a period ending May 21, 2027 JNEU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jun · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending May 31, 2027

Issuer First Trust AllianzIM

Reference index SPY SPY

Buffer 10% 15%

Outcome period May 18, 2026 to May 21, 2027 Jun 1, 2026 to May 31, 2027

Days left 198 208

Starting cap +14.1% uncapped

Can still gain 9.0% uncapped

Fall before buffer 4.5% 0.9%

Protection left, index points 10.0% of 10.0% 15.0% of 15.0%

Index return this period +3.7% +1.4%

Fund return this period +3.9% +0.2%

State today Open Uncapped

Expense ratio 0.85% 0.74%

Net assets, as of Nov 3, 2026 $12m $42m

As of Nov 4, 2026. Source: ETFIQ.

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

Where each one stands today

DLMY resets first, on May 21, 2027, 198 days from now; JNEU runs to May 31, 2027, 208 days. A fall from here reaches DLMY’s buffer after 4.5% and JNEU’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DLMY

From its price on Nov 4, 2026, the fund can gain about 9.0% more before it reaches its cap. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.

JNEU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and new terms are set.

Questions people ask

Which resets first, DLMY or JNEU?: DLMY ends its outcome period on May 21, 2027 and JNEU on May 31, 2027. New terms are set the day after each.
Which is cheaper, DLMY or JNEU?: DLMY charges 0.85% a year and JNEU charges 0.74%, so JNEU is cheaper. Fees come from each fund's prospectus.

Other comparisons

DLMY vs HJUN DLMY vs PBJN DLMY vs JUNP DLMY vs JUNT JNEU vs JUNC JNEU vs JUNW JNEU vs PJUN JNEU vs PMJN

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 →DLMY on its own →JNEU on its own →Method →Standards and sources →

Sources and dates

DLMY filings on SEC EDGAR ↗

First Trust page for DLMY ↗

JNEU filings on SEC EDGAR ↗

AllianzIM page for JNEU ↗

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, DLMY against JNEU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/dlmy-vs-jneu

Open data →

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