Which has more room to gain, XMAY or ZJUN?

From their prices on Nov 4, 2026, XMAY can gain about 6.1% before its cap and ZJUN about 6.0%, so XMAY has more room left this period.

Which resets first, XMAY or ZJUN?

XMAY ends its outcome period on May 21, 2027 and ZJUN on May 31, 2027. A new cap is set the day after each.

Which is cheaper, XMAY or ZJUN?

XMAY charges 0.85% a year and ZJUN charges 0.79%, so ZJUN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

XMAY vs ZJUN: Cap, Buffer & Days Left

Share on X Download as PDF

As of Nov 4, 2026 XMAY can fall 4.6% before its buffer engages and ZJUN 1.9%, and XMAY resets 10 days sooner.

askIQ about this page

askIQ about XMAY and ZJUN

Net assets: $19m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May, and $155m on Nov 4, 2026 for Innovator Equity Defined Protection ETF - 1 Yr June.

XMAY on its own →ZJUN on its own →

At a glance

4.6%

XMAY can fall this far before its buffer

1.9%

ZJUN can fall this far before its buffer

6.1%

XMAY can still gain

6.0%

ZJUN can still gain

XMAY Between buffer and cap

XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.

ZJUN Full floor

ZJUN: reference +1.3% since period start, fund +1.6%; buffer Floor; cap +8.1%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

ZJUN costs 0.06 points a year less; their one-year returns differ by 3.2 points; ZJUN is 8.1 times larger.

Points (pts) are percentage points.

XMAY vs ZJUN: Cap, Buffer & Days Left
Measure	XMAY	ZJUN
Return
Measure	XMAY	ZJUN
Total return, 1 year	+8.0%	+4.8%
Drawdown
Measure	XMAY	ZJUN
Index fall to the buffer	3.6%	1.3%
Benchmark
Measure	XMAY	ZJUN
What it tracks	SPY	SPY
Cost and size
Measure	XMAY	ZJUN
Expense ratio	0.85%	0.79%
Net assets, as of Nov 3, 2026	$19m	$154m
Holdings
Measure	XMAY	ZJUN
Holdings in common	not published

Method

Window by window

Window by window: XMAY vs ZJUN: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	XMAY	ZJUN	XMAY	ZJUN
3 months	+1.3%	+0.7%	+1.7 pts	+1.1 pts
6 months	+3.9%	+1.9%	−0.6 pts	−2.6 pts
1 year	+8.0%	+4.8%	−5.5 pts	−8.7 pts
Since launchNot the same days: XMAY May 2024 · ZJUN Jun 2025	+25.1%	+7.9%	−19.6 pts	−21.5 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

XMAY FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May · Absorbs the first 15% of loss on SPY and caps the gain at 11.0%, over a period ending May 21, 2027 ZJUN Innovator Equity Defined Protection ETF - 1 Yr June · Absorbs the whole loss on SPY and caps the gain at 8.1%, over a period ending May 31, 2027

Issuer First Trust Innovator

Reference index SPY SPY

Buffer 15% 100%

Outcome period May 18, 2026 to May 21, 2027 May 31, 2026 to May 31, 2027

Days left 198 208

Starting cap +11.0% +8.1%

Can still gain 6.1% 6.0%

Fall before buffer 4.6% 1.9%

Protection left, index points 15.0% of 15.0% 100.0% of 100.0%

Index return this period +3.7% +1.3%

Fund return this period +3.9% +1.6%

State today Open Open

Expense ratio 0.85% 0.79%

Net assets, XMAY as of Nov 3, 2026 and ZJUN as of Nov 4, 2026 $19m $155m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. ZJUN is a floor fund, which caps how far a holder can fall. XMAY 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

XMAY resets first, on May 21, 2027, 198 days from now; ZJUN runs to May 31, 2027, 208 days. XMAY can still gain 6.1% before its cap, ZJUN 6.0%. A fall from here reaches XMAY’s buffer after 4.6% and ZJUN’s after 1.9%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

XMAY

From its price on Nov 4, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.

ZJUN

From its price on Nov 4, 2026, the fund can gain about 6.0% more before it reaches its cap. 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 1.3% 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. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, XMAY or ZJUN?: From their prices on Nov 4, 2026, XMAY can gain about 6.1% before its cap and ZJUN about 6.0%, so XMAY has more room left this period.
Which resets first, XMAY or ZJUN?: XMAY ends its outcome period on May 21, 2027 and ZJUN on May 31, 2027. A new cap is set the day after each.
Which is cheaper, XMAY or ZJUN?: XMAY charges 0.85% a year and ZJUN charges 0.79%, so ZJUN is cheaper. Fees come from each fund's prospectus.

Other comparisons

XMAY vs DDFZ XMAY vs UJUN XMAY vs JUNT XMAY vs JUNP ZJUN vs CPSU ZJUN vs DLMY ZJUN vs DDTZ ZJUN vs PMJN

Where to next

State Street® SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →XMAY on its own →ZJUN on its own →Method →Standards and sources →

Sources and dates

XMAY filings on SEC EDGAR ↗

First Trust page for XMAY ↗

ZJUN filings on SEC EDGAR ↗

Innovator page for ZJUN ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, XMAY against ZJUN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/xmay-vs-zjun

Open data →

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