Which has more room to gain, GJUN or JULW?

From their prices on Nov 4, 2026, GJUN can gain about 9.8% before its cap and JULW about 8.8%, so GJUN has more room left this period.

Which resets first, GJUN or JULW?

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

Which is cheaper, GJUN or JULW?

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

Data as of Nov 4, 2026.

Buffer ETFs

GJUN vs JULW: Cap, Buffer & Days Left

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As of Nov 4, 2026 GJUN can fall 3.3% before its buffer engages and JULW 3.1%, and GJUN resets 13 days sooner.

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Net assets on Nov 3, 2026: $497m for FT Vest U.S. Equity Moderate Buffer ETF - June and $254m for AllianzIM U.S. Equity Buffer20 ETF - Jul.

GJUN on its own →JULW on its own →

At a glance

3.3%

GJUN can fall this far before its buffer

3.1%

JULW can fall this far before its buffer

9.8%

GJUN can still gain

8.8%

JULW can still gain

GJUN Between buffer and cap

GJUN: reference +2.7% since period start, fund +2.5%; buffer 0 to −15; cap +13.3%; Between buffer and cap. Data to Nov 4, 2026.

JULW Between buffer and cap

JULW: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.2%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

JULW costs 0.11 points a year less; both returned +8.3% over a year; GJUN is 2.0 times larger.

Points (pts) are percentage points.

GJUN vs JULW: Cap, Buffer & Days Left
Measure	GJUN	JULW
Return
Measure	GJUN	JULW
Total return, 1 year	+8.3%	+8.3%
Drawdown
Measure	GJUN	JULW
Index fall to the buffer	2.6%
Benchmark
Measure	GJUN	JULW
What it tracks	SPY	SPY
Cost and size
Measure	GJUN	JULW
Expense ratio	0.85%	0.74%
Net assets, as of Nov 3, 2026	$497m	$254m
Holdings
Measure	GJUN	JULW
Holdings in common	not published

ETFIQ Downside Cover Score · JULW scores higher If the market falls into a bear market from here, how much does the buffer absorb?

IQ Buffer Score83.2GJUN93.7JULW

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

GJUN 83.2

JULW 93.7

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Risk and return

Jun 30, 2023 to Oct 30, 2026 · 174 weekly returns · each against SPY

GJUN JULW

Return

Total return edge Tie +38.9% +39.0%

Annualized edge Tie +10.3% +10.3%

Price return edge Tie +38.9% +39.0%

Risk

Volatility edge JULW 7.4% 6.5%

Max drawdown edge JULW −9.8% −8.3%

Downside capture 52.9% 45.2%

Beta 0.50 0.43

Risk-adjusted

Sharpe edge JULW 0.76 0.85

Sortino edge JULW 1.15 1.34

Treynor 0.111 0.127

Calmar edge JULW 1.06 1.24

Against the benchmark

Alpha −1.2% a year −0.4% a year

Alpha t-stat −1.01 −0.34

Information ratio −1.09 −0.98

Tracking error 7.4% 8.2%

Reading

From Jun 2023 to Oct 2026, GJUN and JULW returned about the same: +38.9% and +39.0%. JULW swung less: 6.5% to 7.4%. JULW fell less at its worst: −8.3% to −9.8%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: GJUN vs JULW: Cap, Buffer & Days Left
Measure	GJUN	JULW	SPY	Edge	How it is measured
Return
Total return	+38.9%	+39.0%		Tie	Price change plus distributions, reinvested.
Annualized	+10.3%	+10.3%		Tie	Total return as a yearly rate.
Price return	+38.9%	+39.0%		Tie	Price change alone, distributions left out.
Risk
Volatility	7.4%	6.5%		JULW	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	4.8%	4.1%		JULW	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−9.8%	−8.3%		JULW	Deepest fall from a high to the low after it.
Upside capture	38.8%	34.4%	100.0%	GJUN	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	52.9%	45.2%	100.0%	JULW	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.50	0.43	1.00	JULW lower	How far it moves for each 1% its benchmark moves.
R squared	0.91	0.89	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.76	0.85		JULW	Return above Treasury bills per unit of volatility.
Sortino	1.15	1.34		JULW	Return above Treasury bills per unit of downside deviation.
Treynor	0.111	0.127	0.136	JULW	Return above Treasury bills per unit of beta.
Calmar	1.06	1.24		JULW	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	SPY	SPY	SPY		The ETF each fund is measured against.
Alpha	−1.2% a year	−0.4% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−1.01	−0.34		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−3.6% to +1.2%	−2.7% to +1.9%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−1.09	−0.98		JULW (slight)	Return against its benchmark per unit of tracking error.
Tracking error	7.4%	8.2%	0.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 174 weekly returns. Cash rate: the 13-week Treasury bill.

Window by window

Window by window: GJUN vs JULW: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	GJUN	JULW	GJUN	JULW
3 months	+0.7%	+0.8%	+1.1 pts	+1.1 pts
6 months	+3.3%	+3.4%	−1.2 pts	−1.1 pts
1 year	+8.3%	+8.3%	−5.3 pts	−5.2 pts
3 years	+40.7%	+40.4%	−35.7 pts	−36.0 pts
Since launchNot the same days: GJUN Jun 2023 · JULW Jul 2020	+41.3%	+71.7%	−34.1 pts	−75.3 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

GJUN FT Vest U.S. Equity Moderate Buffer ETF - June · Absorbs the first 15% of loss on SPY and caps the gain at 13.3%, over a period ending Jun 17, 2027 JULW AllianzIM U.S. Equity Buffer20 ETF - Jul · Absorbs the first 20% of loss on SPY and caps the gain at 12.2%, over a period ending Jun 30, 2027

Issuer First Trust AllianzIM

Reference index SPY SPY

Buffer 15% 20%

Outcome period Jun 22, 2026 to Jun 17, 2027 Jul 1, 2026 to Jun 30, 2027

Days left 225 238

Starting cap +13.3% +12.2%

Can still gain 9.8% 8.8%

Fall before buffer 3.3% 3.1%

Protection left, index points 15.0% of 15.0% 20.0% of 20.0%

Index return this period +2.7% +2.7%

Fund return this period +2.5% +2.4%

State today Open Open

Expense ratio 0.85% 0.74%

Net assets, as of Nov 3, 2026 $497m $254m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

GJUN resets first, on Jun 17, 2027, 225 days from now; JULW runs to Jun 30, 2027, 238 days. GJUN can still gain 9.8% before its cap, JULW 8.8%. A fall from here reaches GJUN’s buffer after 3.3% and JULW’s after 3.1%. Both track SPY, so what separates them is where each is in its own period.

Client brief:

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About each fund

GJUN

From its price on Nov 4, 2026, the fund can gain about 9.8% more before it reaches its cap. The fund's price can fall 3.3% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 225 days remained on Nov 4, 2026. On Jun 17, 2027 the period ends and a new cap is set.

JULW

From its price on Nov 4, 2026, the fund can gain about 8.8% more before it reaches its cap. The fund's price can fall 3.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 238 days remained on Nov 4, 2026. On Jun 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, GJUN or JULW?: From their prices on Nov 4, 2026, GJUN can gain about 9.8% before its cap and JULW about 8.8%, so GJUN has more room left this period.
Which resets first, GJUN or JULW?: GJUN ends its outcome period on Jun 17, 2027 and JULW on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, GJUN or JULW?: GJUN charges 0.85% a year and JULW charges 0.74%, so JULW is cheaper. Fees come from each fund's prospectus.

Other comparisons

GJUN vs UJUL GJUN vs ZJUL GJUN vs BJUL GJUN vs XJUN JULW vs XJUN JULW vs TJUL JULW vs AJUL JULW vs XBJL

Where to next

State Street® SPDR® S&P 500® ETF Trust →GJUN on its own →JULW on its own →Method →Standards and sources →

Sources and dates

GJUN filings on SEC EDGAR ↗

First Trust page for GJUN ↗

JULW filings on SEC EDGAR ↗

AllianzIM page for JULW ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

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, GJUN against JULW, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/gjun-vs-julw

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