Data as of Nov 4, 2026.
XJUL vs ZAUG: Cap, Buffer & Days Left
As of Nov 4, 2026 XJUL can fall 3.6% before its buffer engages and ZAUG 1.5%, and XJUL resets 15 days sooner.
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Net assets: $42m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - July, and $160m on Nov 4, 2026 for Innovator Equity Defined Protection ETF - 1 Yr August.
XJUL: reference +3.1% since period start, fund +2.9%; buffer 0 to −15; cap +11.4%; Between buffer and cap. Data to Nov 4, 2026.
XJUL: reference +3.1% since period start, fund +2.9%; buffer 0 to −15; cap +11.4%; Between buffer and cap. Data to Nov 4, 2026.ZAUG: reference +2.6% since period start, fund +1.3%; buffer Floor; cap +8.4%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
ZAUG costs 0.06 points a year less; their one-year returns differ by 3.4 points; ZAUG is 3.8 times larger.
Points (pts) are percentage points.
| Measure | XJUL | ZAUG |
|---|---|---|
| Return | ||
| Total return, 1 year | +9.1% | +5.7% |
| Drawdown | ||
| Index fall to the buffer | 3.1% | 2.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.79% |
| Net assets, as of Nov 3, 2026 | $42m | $159m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | XJUL | ZAUG | XJUL | ZAUG |
| 3 months | +1.3% | +0.5% | +1.7 pts | +0.9 pts |
| 6 months | +4.3% | +2.6% | −0.2 pts | −1.9 pts |
| 1 year | +9.1% | +5.7% | −4.5 pts | −7.9 pts |
| 3 years | +37.3% | – | −39.1 pts | – |
| Since launchNot the same days: XJUL Jul 2023 · ZAUG Aug 2024 | +36.2% | +16.6% | −32.7 pts | −24.6 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. ZAUG is a floor fund, which caps how far a holder can fall. XJUL 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
XJUL resets first, on Jul 16, 2027, 254 days from now; ZAUG runs to Jul 31, 2027, 269 days. XJUL can still gain 7.5% before its cap, ZAUG 6.7%. A fall from here reaches XJUL’s buffer after 3.6% and ZAUG’s after 1.5%. Both track SPY, so what separates them is where each is in its own period.
XJUL
From its price on Nov 4, 2026, the fund can gain about 7.5% more before it reaches its cap. The fund's price can fall 3.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.1% 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. 254 days remained on Nov 4, 2026. On Jul 16, 2027 the period ends and a new cap is set.
ZAUG
From its price on Nov 4, 2026, the fund can gain about 6.7% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.5% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 269 days remained on Nov 4, 2026. On Jul 31, 2027 the period ends and a new cap is set.
Questions people ask
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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, XJUL against ZAUG, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/xjul-vs-zaug
ETFIQ. (Nov 4, 2026). XJUL against ZAUG. Retrieved from https://etfiq.com/compare/buffer/xjul-vs-zaug
[XJUL against ZAUG (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/xjul-vs-zaug)
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