Data as of Nov 4, 2026.

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Buffer ETFs

JULT vs PMJL: Cap, Buffer & Days Left

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As of Nov 4, 2026 JULT can fall 3.3% before its buffer engages and PMJL 2.1%.

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Net assets: $57m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Jul, and $7.0m on Nov 4, 2026 for PGIM S&P 500 Max Buffer ETF - July.

At a glance
3.3%
JULT can fall this far before its buffer
2.1%
PMJL can fall this far before its buffer
13.6%
JULT can still gain
5.7%
PMJL can still gain
JULT Between buffer and cap
Between buffer and capJULT: reference +2.7% since period start, fund +2.6%; buffer 0 to −10; cap +17.3%; Between buffer and cap. Data to Nov 4, 2026.10 pts+14.6% more to the cap−10.0% floor0% period start+17.3% cap+2.7% gain capturedTODAY · SPY +2.7%Between buffer and capJULT: reference +2.7% since period start, fund +2.6%; buffer 0 to −10; cap +17.3%; Between buffer and cap. Data to Nov 4, 2026.−10.0% floor0% start+17.3% cap10 pts of buffer+2.7% gain captured+14.6% more to the capTODAY · SPY +2.7%

JULT: reference +2.7% since period start, fund +2.6%; buffer 0 to −10; cap +17.3%; Between buffer and cap. Data to Nov 4, 2026.

JULT: reference +2.7% since period start, fund +2.6%; buffer 0 to −10; cap +17.3%; Between buffer and cap. Data to Nov 4, 2026.
PMJL Full floor
Full floorPMJL: reference +2.7% since period start, fund +1.7%; buffer Floor; cap +8.0%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% period start+8.0% cap+2.7% gain captured+5.3% more to the capTODAY · SPY +2.7%Full floorPMJL: reference +2.7% since period start, fund +1.7%; buffer Floor; cap +8.0%; Full floor. Data to Nov 4, 2026.full floor beneathfull floor0% start+8.0% cap+2.7% gain captured+5.3% more to the capTODAY · SPY +2.7%

PMJL: reference +2.7% since period start, fund +1.7%; buffer Floor; cap +8.0%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

PMJL costs 0.24 points a year less; their one-year returns differ by 5.6 points; JULT is 8.1 times larger.

Points (pts) are percentage points.

JULT vs PMJL: Cap, Buffer & Days Left
MeasureJULTPMJL
Return
Total return, 1 year+11.3%+5.7%
Drawdown
Index fall to the buffer2.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.74%0.50%
Net assets, as of Nov 3, 2026$57m$7.0m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: JULT vs PMJL: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowJULTPMJLJULTPMJL
3 months+0.5%+0.7%+0.9 pts+1.1 pts
6 months+4.5%+2.5%0.0 pts−2.0 pts
1 year+11.3%+5.7%−2.3 pts−7.8 pts
3 years+56.7%–−19.7 pts–
Since launchNot the same days: JULT Jul 2020 · PMJL Jul 2025+102.8%+8.3%−44.1 pts−15.9 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

JULT AllianzIM U.S. Equity Buffer10 ETF - Jul · Absorbs the first 10% of loss on SPY and caps the gain at 17.3%, over a period ending Jun 30, 2027 PMJL PGIM S&P 500 Max Buffer ETF - July · Absorbs the whole loss on SPY and caps the gain at 8.0%, over a period ending Jun 30, 2027
Reference index SPY SPY
Buffer 10% 100%
Outcome period Jul 1, 2026 to Jun 30, 2027 Jul 1, 2026 to Jun 30, 2027
Days left 238 238
Starting cap +17.3% +8.0%
Can still gain 13.6% 5.7%
Fall before buffer 3.3% 2.1%
Protection left, index points 10.0% of 10.0% 100.0% of 100.0%
Index return this period +2.7% +2.7%
Fund return this period +2.6% +1.7%
State today Open Open
Expense ratio 0.74% 0.50%
Net assets, JULT as of Nov 3, 2026 and PMJL as of Nov 4, 2026 $57m $7.0m

As of Nov 4, 2026. Source: ETFIQ.

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

Where each one stands today

JULT resets first, on Jun 30, 2027, 238 days from now; PMJL runs to Jun 30, 2027, 238 days. JULT can still gain 13.6% before its cap, PMJL 5.7%. A fall from here reaches JULT’s buffer after 3.3% and PMJL’s after 2.1%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
JULT

From its price on Nov 4, 2026, the fund can gain about 13.6% 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: 10.0% of the 10.0% 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.

PMJL

From its price on Nov 4, 2026, the fund can gain about 5.7% more before it reaches its cap. The fund's price can fall 2.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, JULT or PMJL?
From their prices on Nov 4, 2026, JULT can gain about 13.6% before its cap and PMJL about 5.7%, so JULT has more room left this period.
Which resets first, JULT or PMJL?
JULT ends its outcome period on Jun 30, 2027 and PMJL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, JULT or PMJL?
JULT charges 0.74% a year and PMJL charges 0.50%, so PMJL is cheaper. Fees come from each fund's prospectus.
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Sources and dates

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.

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ETFIQ, JULT against PMJL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/jult-vs-pmjl

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