Which has more room to gain, JULP or PBJL?

From their prices on Nov 4, 2026, JULP can gain about 12.6% before its cap and PBJL about 9.2%, so JULP has more room left this period.

Which resets first, JULP or PBJL?

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

Which is cheaper, JULP or PBJL?

JULP and PBJL both charge 0.50% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

JULP vs PBJL: Cap, Buffer & Days Left

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As of Nov 4, 2026 JULP can fall 3.1% before its buffer engages and PBJL 2.9%.

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Net assets on Nov 4, 2026: $43m for PGIM S&P 500 Buffer 12 ETF - July and $74m for PGIM S&P 500 Buffer 20 ETF - July .

JULP on its own →PBJL on its own →

At a glance

3.1%

JULP can fall this far before its buffer

2.9%

PBJL can fall this far before its buffer

12.6%

JULP can still gain

9.2%

PBJL can still gain

JULP Between buffer and cap

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.

PBJL Between buffer and cap

PBJL: reference +2.7% since period start, fund +2.4%; buffer 0 to −20; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.50% a year; their one-year returns differ by 2.0 points; PBJL is 1.7 times larger.

Points (pts) are percentage points.

JULP vs PBJL: Cap, Buffer & Days Left
Measure	JULP	PBJL
Return
Measure	JULP	PBJL
Total return, 1 year	+10.5%	+8.5%
Drawdown
Measure	JULP	PBJL
Index fall to the buffer	2.6%
Benchmark
Measure	JULP	PBJL
What it tracks	SPY	SPY
Cost and size
Measure	JULP	PBJL
Expense ratio	0.50%	0.50%
Net assets	$43m	$74m
Holdings
Measure	JULP	PBJL
Holdings in common	not published

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

IQ Buffer Score57.5JULP94PBJL

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

JULP 57.5

PBJL 94

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 PBJL: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	JULP	PBJL	JULP	PBJL
3 months	+0.6%	+0.8%	+1.0 pts	+1.2 pts
6 months	+4.2%	+3.5%	−0.3 pts	−0.9 pts
1 year	+10.5%	+8.5%	−3.0 pts	−5.0 pts
Since launchJULP May 2024 · PBJL May 2024	+33.9%	+28.0%	−14.3 pts	−20.2 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

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 PBJL PGIM S&P 500 Buffer 20 ETF - July · Absorbs the first 20% of loss on SPY and caps the gain at 12.3%, over a period ending Jun 30, 2027

Issuer PGIM PGIM

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% +12.3%

Can still gain 12.6% 9.2%

Fall before buffer 3.1% 2.9%

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% 0.50%

Net assets $43m $74m

As of Nov 4, 2026. Source: ETFIQ.

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

Where each one stands today

JULP resets first, on Jun 30, 2027, 238 days from now; PBJL runs to Jun 30, 2027, 238 days. JULP can still gain 12.6% before its cap, PBJL 9.2%. A fall from here reaches JULP’s buffer after 3.1% and PBJL’s after 2.9%. Both track SPY, so what separates them is where each is in its own period.

Alert

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.

PBJL

From its price on Nov 4, 2026, the fund can gain about 9.2% more before it reaches its cap. The fund's price can fall 2.9% 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.

Questions people ask

Which has more room to gain, JULP or PBJL?: From their prices on Nov 4, 2026, JULP can gain about 12.6% before its cap and PBJL about 9.2%, so JULP has more room left this period.
Which resets first, JULP or PBJL?: JULP ends its outcome period on Jun 30, 2027 and PBJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, JULP or PBJL?: JULP and PBJL both charge 0.50% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

JULP vs JUNM JULP vs XJUN JULP vs DDFL JULP vs ZJUL PBJL vs XBJL PBJL vs AJUL PBJL vs TJUL PBJL vs UJUL

Where to next

SPDR S&P 500 ETF Trust →JULP on its own →PBJL on its own →Method →Standards and sources →

Sources and dates

JULP and PBJL filings on SEC EDGAR ↗

PGIM website ↗

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 PBJL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/julp-vs-pbjl

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