Data as of Nov 4, 2026.

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Buffer ETFs

JANM vs SIXF: Cap, Buffer & Days Left

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As of Nov 4, 2026 JANM can fall 5.2% before its buffer engages and SIXF 2.7%, and JANM resets 16 days sooner.

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Net assets on Nov 3, 2026: $37m for FT Vest U.S. Equity Max Buffer ETF - January and $53m for AllianzIM U.S. Equity Buffer10 ETF - Feb.

At a glance
5.2%
JANM can fall this far before its buffer
2.7%
SIXF can fall this far before its buffer
1.5%
JANM can still gain
4.8%
SIXF can still gain
JANM At its cap
At its capJANM: reference +10.8% since period start, fund +4.6%; buffer 0 to −46; cap +7.0%; At its cap. Data to Nov 4, 2026.45.8 pts of buffer+7% gained−45.8% floor0% period start+7.0% capTODAY · SPY +10.8%At its capJANM: reference +10.8% since period start, fund +4.6%; buffer 0 to −46; cap +7.0%; At its cap. Data to Nov 4, 2026.45.8 pts of buffer−45.8% floor0% start+7.0% cap+7% gain capturedTODAY · SPY +10.8%

JANM: reference +10.8% since period start, fund +4.6%; buffer 0 to −46; cap +7.0%; At its cap. Data to Nov 4, 2026.

JANM: reference +10.8% since period start, fund +4.6%; buffer 0 to −46; cap +7.0%; At its cap. Data to Nov 4, 2026.
SIXF Between buffer and cap
Between buffer and capSIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.10 pts−10.0% floor0% period start+7.8% cap+2.6% gain captured+5.1% more to the capTODAY · SPY +2.6%Between buffer and capSIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.−10.0% floor0% start+7.8% cap10 pts of buffer+2.6% gain captured+5.1% more to the capTODAY · SPY +2.6%

SIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.

SIXF: reference +2.6% since period start, fund +2.4%; buffer 0 to −10; cap +7.8%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

SIXF costs 0.11 points a year less; their one-year returns differ by 7.1 points; SIXF is 1.4 times larger.

Points (pts) are percentage points.

JANM vs SIXF: Cap, Buffer & Days Left
MeasureJANMSIXF
Return
Total return, 1 year+6.3%+13.4%
Drawdown
Index fall to the buffer9.8%2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.74%
Net assets, as of Nov 3, 2026$37m$53m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · JANM scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score73.8JANM38.7SIXF

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

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

Window by window

Window by window: JANM vs SIXF: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowJANMSIXFJANMSIXF
3 months+1.3%+1.2%+1.6 pts+1.6 pts
6 months+2.9%+5.8%−1.6 pts+1.3 pts
1 year+6.3%+13.4%−7.2 pts−0.2 pts
Since launchNot the same days: JANM Jan 2025 · SIXF Feb 2024+10.8%+40.7%−16.3 pts−16.0 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

JANM FT Vest U.S. Equity Max Buffer ETF - January · Absorbs the first 46% of loss on SPY and caps the gain at 7.0%, over a period ending Jan 15, 2027 SIXF AllianzIM U.S. Equity Buffer10 ETF - Feb · Absorbs the first 10% of loss on SPY and caps the gain at 7.8%, over a period ending Jan 31, 2027
Reference index SPY SPY
Buffer 46% 10%
Outcome period Jan 20, 2026 to Jan 15, 2027 Aug 1, 2026 to Jan 31, 2027
Days left 72 88
Starting cap +7.0% +7.8%
Can still gain 1.5% 4.8%
Fall before buffer 5.2% 2.7%
Protection left, index points 45.8% of 45.8% 10.0% of 10.0%
Index return this period +10.8% +2.6%
Fund return this period +4.6% +2.4%
State today At cap Open
Expense ratio 0.85% 0.74%
Net assets, as of Nov 3, 2026 $37m $53m

As of Nov 4, 2026. Source: ETFIQ.

JANM is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

JANM resets first, on Jan 15, 2027, 72 days from now; SIXF runs to Jan 31, 2027, 88 days. JANM can still gain 1.5% before its cap, SIXF 4.8%. A fall from here reaches JANM’s buffer after 5.2% and SIXF’s after 2.7%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
JANM

SPY had already risen past this fund's cap of +7.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.5% as the period runs out. The fund's price can fall 5.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 9.8% from today's level to the point where the buffer begins. Protection left, in index points: 45.8% of the 45.8% buffer still sits below today's SPY level. 72 days remained on Nov 4, 2026. On Jan 15, 2027 the period ends and a new cap is set.

SIXF

From its price on Nov 4, 2026, the fund can gain about 4.8% more before it reaches its cap. The fund's price can fall 2.7% 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: 10.0% of the 10.0% buffer still sits below today's SPY level. 88 days remained on Nov 4, 2026. On Jan 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, JANM or SIXF?
From their prices on Nov 4, 2026, JANM can gain about 1.5% before its cap and SIXF about 4.8%, so SIXF has more room left this period.
Which resets first, JANM or SIXF?
JANM ends its outcome period on Jan 15, 2027 and SIXF on Jan 31, 2027. A new cap is set the day after each.
Which is cheaper, JANM or SIXF?
JANM charges 0.85% a year and SIXF charges 0.74%, so SIXF is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

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.

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ETFIQ, JANM against SIXF, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/janm-vs-sixf

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