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Data as of Nov 4, 2026.

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Buffer ETFs

JULP vs JULW: Cap, Buffer & Days Left

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As of Nov 4, 2026 JULP can fall 3.1% before its buffer engages and JULW 3.1%.

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Net assets: $43m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - July, and $254m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer20 ETF - Jul.

JULP on its own →JULW on its own →
At a glance
3.1%
JULP can fall this far before its buffer
3.1%
JULW can fall this far before its buffer
12.6%
JULP can still gain
8.8%
JULW can still gain
JULP Between buffer and cap
Between buffer and capJULP: reference +2.7% since period start, fund +2.7%; buffer 0 to −12; cap +16.2%; Between buffer and cap. Data to Nov 4, 2026.12 pts of buffer+2.7%+13.5% more to the cap−12.0% floor0% period start+16.2% capTODAY · SPY +2.7%Between buffer and capJULP: reference +2.7% since period start, fund +2.7%; buffer 0 to −12; cap +16.2%; Between buffer and cap. Data to Nov 4, 2026.12 pts−12.0% floor0% start+16.2% cap+2.7% gain captured+13.5% more to the capTODAY · SPY +2.7%

JULP: reference +2.7% since period start, fund +2.7%; buffer 0 to −12; cap +16.2%; Between buffer and cap. Data to Nov 4, 2026.

JULP: reference +2.7% since period start, fund +2.7%; buffer 0 to −12; cap +16.2%; Between buffer and cap. Data to Nov 4, 2026.
JULW Between buffer and cap
Between buffer and capJULW: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.2%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer+2.7%+9.5% more to the cap−20.0% floor0% period start+12.2% capTODAY · SPY +2.7%Between buffer and capJULW: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.2%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer−20.0% floor0% start+12.2% cap+2.7% gain captured+9.5% more to the capTODAY · SPY +2.7%

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.

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

JULP costs 0.24 points a year less; their one-year returns differ by 2.2 points; JULW is 5.9 times larger.

Points (pts) are percentage points.

JULP vs JULW: Cap, Buffer & Days Left
MeasureJULPJULW
Return
Total return, 1 year+10.5%+8.3%
Drawdown
Index fall to the buffer2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.74%
Net assets, as of Nov 3, 2026$43m$254m
Holdings
Holdings in commonnot 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 Score57.5JULP93.7JULW

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

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: JULP vs JULW: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowJULPJULWJULPJULW
3 months+0.6%+0.8%+1.0 pts+1.1 pts
6 months+4.2%+3.4%−0.3 pts−1.1 pts
1 year+10.5%+8.3%−3.0 pts−5.2 pts
3 years–+40.4%–−36.0 pts
Since launchNot the same days: JULP May 2024 · JULW Jul 2020+33.9%+71.7%−14.3 pts−75.3 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

JULP PGIM S&P 500 Buffer 12 ETF - July · Absorbs the first 12% of loss on SPY and caps the gain at 16.2%, over a period ending Jun 30, 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 PGIM AllianzIM
Reference index SPY SPY
Buffer 12% 20%
Outcome period Jul 1, 2026 to Jun 30, 2027 Jul 1, 2026 to Jun 30, 2027
Days left 238 238
Starting cap +16.2% +12.2%
Can still gain 12.6% 8.8%
Fall before buffer 3.1% 3.1%
Protection left, index points 12.0% of 12.0% 20.0% of 20.0%
Index return this period +2.7% +2.7%
Fund return this period +2.7% +2.4%
State today Open Open
Expense ratio 0.50% 0.74%
Net assets, JULP as of Nov 4, 2026 and JULW as of Nov 3, 2026 $43m $254m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

JULP resets first, on Jun 30, 2027, 238 days from now; JULW runs to Jun 30, 2027, 238 days. JULP can still gain 12.6% before its cap, JULW 8.8%. A fall from here reaches JULP’s buffer after 3.1% and JULW’s after 3.1%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
JULP

From its price on Nov 4, 2026, the fund can gain about 12.6% 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. In index terms, SPY can fall 2.6% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% 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.

JULW

From its price on Nov 4, 2026, the fund can gain about 8.8% more before it reaches its cap. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, JULP or JULW?
From their prices on Nov 4, 2026, JULP can gain about 12.6% before its cap and JULW about 8.8%, so JULP has more room left this period.
Which resets first, JULP or JULW?
JULP ends its outcome period on Jun 30, 2027 and JULW on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, JULP or JULW?
JULP charges 0.50% a year and JULW charges 0.74%, so JULP is cheaper. Fees come from each fund's prospectus.
Other comparisons
JULP vs UJULJULP vs BJULJULP vs JULUJULP vs PJULJULW vs CPSJJULW vs JUNMJULW vs PBJLJULW vs XBJL
Where to next
SPDR S&P 500 ETF Trust →JULP on its own →JULW on its own →Method →Standards and sources →
Sources and dates
JULP filings on SEC EDGAR ↗
PGIM website ↗
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.

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

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