Which resets first, FLJJ or JANU?

FLJJ ends its outcome period on Dec 31, 2026 and JANU on Dec 31, 2026. New terms are set the day after each.

Which is cheaper, FLJJ or JANU?

FLJJ and JANU both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

FLJJ vs JANU: Cap, Buffer & Days Left

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As of Nov 4, 2026 JANU can fall 8.4% before its buffer engages and FLJJ 7.4%.

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Net assets on Nov 3, 2026: $8.5m for AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF - Jan and $77m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jan.

FLJJ on its own →JANU on its own →

At a glance

7.4%

FLJJ can fall this far before its buffer

8.4%

JANU can fall this far before its buffer

4.4%

FLJJ can still gain

uncapped

JANU can still gain

FLJJ Full floor

FLJJ: reference +2.7% since period start, fund +2.1%; buffer −5 to floor; cap +7.0%; Full floor. Data to Nov 4, 2026.

JANU No cap

JANU: reference +12.4% since period start, fund +8.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.74% a year; their one-year returns differ by 0.7 points; JANU is 9.1 times larger.

Points (pts) are percentage points.

FLJJ vs JANU: Cap, Buffer & Days Left
Measure	FLJJ	JANU
Return
Measure	FLJJ	JANU
Total return, 1 year	+9.9%	+9.2%
Drawdown
Measure	FLJJ	JANU
Index fall to the buffer	7.5%	11.1%
Benchmark
Measure	FLJJ	JANU
What it tracks	SPY	SPY
Cost and size
Measure	FLJJ	JANU
Expense ratio	0.74%	0.74%
Net assets, as of Nov 3, 2026	$8.5m	$77m
Holdings
Measure	FLJJ	JANU
Holdings in common	not published

Method

Window by window

Window by window: FLJJ vs JANU: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	FLJJ	JANU	FLJJ	JANU
3 months	+0.5%	−1.3%	+0.9 pts	−0.9 pts
6 months	+4.0%	+2.3%	−0.5 pts	−2.2 pts
1 year	+9.9%	+9.2%	−3.6 pts	−4.4 pts
Since launchNot the same days: FLJJ Feb 2024 · JANU Jan 2025	+37.2%	+21.9%	−19.6 pts	−9.3 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

FLJJ AllianzIM U.S. Equity 6 Month Floor5 Jan/Jul ETF - Jan · Absorbs losses from 5.0% to 100.0% on SPY and caps the gain at 7.0%, over a period ending Dec 31, 2026 JANU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jan · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Dec 31, 2026

Issuer AllianzIM AllianzIM

Reference index SPY SPY

Buffer 5% to 100% 15%

Outcome period Jul 1, 2026 to Dec 31, 2026 Jan 1, 2026 to Dec 31, 2026

Days left 57 57

Starting cap +7.0% uncapped

Can still gain 4.4% uncapped

Fall before buffer 7.4% 8.4%

Protection left, index points 95.0% of 95.0% 15.0% of 15.0%

Index return this period +2.7% +12.4%

Fund return this period +2.1% +8.3%

State today Open Uncapped

Expense ratio 0.74% 0.74%

Net assets, as of Nov 3, 2026 $8.5m $77m

As of Nov 4, 2026. Source: ETFIQ.

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

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

Where each one stands today

FLJJ resets first, on Dec 31, 2026, 57 days from now; JANU runs to Dec 31, 2026, 57 days. A fall from here reaches FLJJ’s buffer after 7.4% and JANU’s after 8.4%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

FLJJ

From its price on Nov 4, 2026, the fund can gain about 4.4% more before it reaches its cap. The fund's price can fall 7.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.5% from today's level to the point where the buffer begins. Protection left, in index points: 95.0% of the 95.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

JANU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 8.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.1% 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. On Dec 31, 2026 the period ends and new terms are set.

Questions people ask

Which resets first, FLJJ or JANU?: FLJJ ends its outcome period on Dec 31, 2026 and JANU on Dec 31, 2026. New terms are set the day after each.
Which is cheaper, FLJJ or JANU?: FLJJ and JANU both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

FLJJ vs ZJAN FLJJ vs SIXJ FLJJ vs CPSY FLJJ vs XDEC JANU vs PQX JANU vs PMJA JANU vs PQXV JANU vs PQXX

Where to next

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

Sources and dates

FLJJ and JANU filings on SEC EDGAR ↗

AllianzIM page for FLJJ ↗

AllianzIM page for JANU ↗

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, FLJJ against JANU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/fljj-vs-janu

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