Which resets first, JULU or JULW?

JULU ends its outcome period on Jun 30, 2027 and JULW on Jun 30, 2027. New terms are set the day after each.

Which is cheaper, JULU or JULW?

JULU and JULW both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

JULU vs JULW: Cap, Buffer & Days Left

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As of Nov 4, 2026 JULW can fall 3.1% before its buffer engages and JULU 1.9%.

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Net assets on Nov 3, 2026: $79m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jul and $254m for AllianzIM U.S. Equity Buffer20 ETF - Jul.

JULU on its own →JULW on its own →

At a glance

1.9%

JULU can fall this far before its buffer

3.1%

JULW can fall this far before its buffer

uncapped

JULU can still gain

8.8%

JULW can still gain

JULU No cap

JULU: reference +2.7% since period start, fund +1.2%; buffer 0 to −15; no cap; No 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

Both cost 0.74% a year; their one-year returns differ by 1.6 points; JULW is 3.2 times larger.

Points (pts) are percentage points.

JULU vs JULW: Cap, Buffer & Days Left
Measure	JULU	JULW
Return
Measure	JULU	JULW
Total return, 1 year	+9.9%	+8.3%
Drawdown
Measure	JULU	JULW
Index fall to the buffer	2.6%
Benchmark
Measure	JULU	JULW
What it tracks	SPY	SPY
Cost and size
Measure	JULU	JULW
Expense ratio	0.74%	0.74%
Net assets, as of Nov 3, 2026	$79m	$254m
Holdings
Measure	JULU	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 Score83.2JULU93.7JULW

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

JULU 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

Window by window

Window by window: JULU vs JULW: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	JULU	JULW	JULU	JULW
3 months	+0.1%	+0.8%	+0.5 pts	+1.1 pts
6 months	+2.9%	+3.4%	−1.6 pts	−1.1 pts
1 year	+9.9%	+8.3%	−3.7 pts	−5.2 pts
3 years	–	+40.4%	–	−36.0 pts
Since launchNot the same days: JULU Jul 2024 · JULW Jul 2020	+29.3%	+71.7%	−11.3 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

JULU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jul · Absorbs the first 15% of loss on SPY and does not cap the gain, 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 AllianzIM AllianzIM

Reference index SPY SPY

Buffer 15% 20%

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

Days left 238 238

Starting cap uncapped +12.2%

Can still gain uncapped 8.8%

Fall before buffer 1.9% 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 +1.2% +2.4%

State today Uncapped Open

Expense ratio 0.74% 0.74%

Net assets, as of Nov 3, 2026 $79m $254m

As of Nov 4, 2026. Source: ETFIQ.

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

Where each one stands today

JULU resets first, on Jun 30, 2027, 238 days from now; JULW runs to Jun 30, 2027, 238 days. A fall from here reaches JULU’s buffer after 1.9% and JULW’s after 3.1%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

JULU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 1.9% 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. 238 days remained on Nov 4, 2026. On Jun 30, 2027 the period ends and new terms are 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. On Jun 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, JULU or JULW?: JULU ends its outcome period on Jun 30, 2027 and JULW on Jun 30, 2027. New terms are set the day after each.
Which is cheaper, JULU or JULW?: JULU and JULW both charge 0.74% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

JULU vs UJUL JULU vs BJUL JULU vs DDFL JULU vs PJUL JULW vs UJUL JULW vs BJUL JULW vs PJUL JULW vs CTJL

Where to next

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

Sources and dates

JULU and JULW filings on SEC EDGAR ↗

AllianzIM page for JULU ↗

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

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