Data as of .
DLMY vs ZJUN: which one stands where?
As of Sep 21, 2026 DLMY can fall 4.5% before its buffer engages and ZJUN 1.5%, and DLMY resets 10 days sooner.
These are two different products. ZJUN 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, 242 days from now; ZJUN runs to May 31, 2027, 252 days. DLMY can still gain 9.1% before its cap, ZJUN 6.4%. A fall from here reaches DLMY’s buffer after 4.5% and ZJUN’s after 1.5%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| DLMY | ZJUN | DLMY | ZJUN | |
| 3 months | +2.0% | +1.0% | −0.2 pts | −1.2 pts |
| 6 months | not published | +3.0% | not published | −15.0 pts |
| 1 year | not published | +4.5% | not published | −12.1 pts |
| 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 | ZJUN Innovator Equity Defined Protection ETF - 1 Yr June Absorbs the whole loss on SPY and caps the gain at 8.1%, over a period ending May 31, 2027 | |
|---|---|---|
| Issuer | First Trust | Innovator |
| Reference index | SPY | SPY |
| Buffer | 10% | 100% |
| Outcome period | May 18, 2026 to May 21, 2027 | May 31, 2026 to May 31, 2027 |
| Days left | 242 | 252 |
| Starting cap | +14.1% | +8.1% |
| Can still gain | 9.1% | 6.4% |
| Fall before buffer | 4.5% | 1.5% |
| Protection left, index points | 10.0% of 10.0% | 100.0% of 100.0% |
| Index return this period | +4.7% | +2.3% |
| Fund return this period | +3.8% | +1.3% |
| State today | Open | Open |
| Expense ratio | 0.85% | 0.79% |
| Net assets | $12m | $153m |
DLMY in plain words
From its price on Sep 21, 2026, the fund can gain about 9.1% 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 figure. In index terms, SPY can fall 4.5% 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. 242 days remained on Sep 21, 2026. On May 21, 2027 the period ends and a new cap is set.
ZJUN in plain words
From its price on Sep 21, 2026, the fund can gain about 6.4% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.3% 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. 252 days remained on Sep 21, 2026. On May 31, 2027 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, DLMY or ZJUN?
- From their prices on Sep 21, 2026, DLMY can gain about 9.1% before its cap and ZJUN about 6.4%, so DLMY has more room left this period.
- Which resets first, DLMY or ZJUN?
- DLMY ends its outcome period on May 21, 2027 and ZJUN on May 31, 2027. A new cap is set the day after each.
- Which is cheaper, DLMY or ZJUN?
- DLMY charges 0.85% a year and ZJUN charges 0.79%, so ZJUN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DLMY against ZJUN, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/dlmy-vs-zjun Free to use with attribution; the underlying files are at Open data.