Data as of .
XMAY vs ZJUN: which one stands where?
As of Sep 19, 2026 XMAY can fall 3.7% before its buffer engages and ZJUN 1.2%, and XMAY resets 10 days sooner.
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, 245 days from now; ZJUN runs to May 31, 2027, 255 days. XMAY can still gain 7.1% before its cap, ZJUN 6.8%. A fall from here reaches XMAY’s buffer after 3.7% and ZJUN’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| XMAY | ZJUN | XMAY | ZJUN | |
| 3 months | +2.1% | +1.0% | −0.1 pts | −1.2 pts |
| 6 months | +5.7% | +3.0% | −12.3 pts | −15.0 pts |
| 1 year | +7.7% | +4.5% | −8.8 pts | −12.1 pts |
| 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 | 245 | 255 |
| Starting cap | +11.0% | +8.1% |
| Can still gain | 7.1% | 6.8% |
| Fall before buffer | 3.7% | 1.2% |
| Protection left, index points | 15.0% of 15.0% | 100.0% of 100.0% |
| Index return this period | +3.0% | +0.7% |
| Fund return this period | +2.9% | +1.0% |
| State today | Open | Open |
| Expense ratio | 0.85% | 0.79% |
| Net assets | $19m | $153m |
XMAY in plain words
From its price on Sep 19, 2026, the fund can gain about 7.1% more before it reaches its cap. The fund's price can fall 3.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 3.0% 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. 245 days remained on Sep 19, 2026. On May 21, 2027 the period ends and a new cap is set.
ZJUN in plain words
From its price on Sep 19, 2026, the fund can gain about 6.8% more before it reaches its cap. The fund's price can fall 1.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.7% 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. 255 days remained on Sep 19, 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 Sep 19, 2026, XMAY can gain about 7.1% before its cap and ZJUN about 6.8%, 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
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, XMAY against ZJUN, data as of Sep 19, 2026. https://etfiq.com/compare/buffer/xmay-vs-zjun Free to use with attribution; the underlying files are at Open data.