DJUN vs. XMAG

Last updated Jun 4, 2026

DJUN (FT Cboe Vest U.S. Equity Deep Buffer ETF - June) and XMAG (Defiance Large Cap ex-Mag 7 ETF) are both Large Cap Blend Equities funds - DJUN tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index while XMAG tracks the BITA US 500 ex Magnificent 7 Index. Both are passively managed. Over the past year, DJUN returned 10.92% vs 24.62% for XMAG. Their correlation of 0.82 suggests significant overlap in exposure. DJUN charges 0.85%/yr vs 0.35%/yr for XMAG.

Performance

DJUN vs. XMAG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) and Defiance Large Cap ex-Mag 7 ETF (XMAG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DJUN achieves a 3.78% return, which is significantly lower than XMAG's 12.73% return.

DJUN

• 1D: 0.01%
• 1M: 0.88%
• YTD: 3.78%
• 6M: 4.53%
• 1Y: 10.92%
• 3Y*: 11.40%
• 5Y*: 8.19%
• 10Y*: —

XMAG

• 1D: 0.01%
• 1M: 6.69%
• YTD: 12.73%
• 6M: 13.28%
• 1Y: 24.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

DJUN vs. XMAG - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DJUN FT Cboe Vest U.S. Equity Deep Buffer ETF - June	3.78%	9.38%	0.76%
XMAG Defiance Large Cap ex-Mag 7 ETF	12.73%	15.63%	-1.67%

Correlation

The correlation between DJUN and XMAG is 0.80, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (All Time) Calculated using the full available price history since Oct 23, 2024	0.82

The correlation between DJUN and XMAG has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

Return for Risk

DJUN vs. XMAG — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DJUN

DJUN Risk / Return Rank: 77
DJUN Sharpe Ratio Rank: 67
DJUN Sortino Ratio Rank: 74
DJUN Omega Ratio Rank: 83
DJUN Calmar Ratio Rank: 71
DJUN Martin Ratio Rank: 90

XMAG

XMAG Risk / Return Rank: 68
XMAG Sharpe Ratio Rank: 66
XMAG Sortino Ratio Rank: 69
XMAG Omega Ratio Rank: 63
XMAG Calmar Ratio Rank: 67
XMAG Martin Ratio Rank: 77

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DJUN vs. XMAG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) and Defiance Large Cap ex-Mag 7 ETF (XMAG). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	DJUN	XMAG	Difference
Sharpe ratio Return per unit of total volatility	2.22	2.23	-0.01
Sortino ratio Return per unit of downside risk	3.35	3.21	+0.13
Omega ratio Gain probability vs. loss probability	1.50	1.39	+0.11
Calmar ratio Return relative to maximum drawdown	3.51	3.39	+0.12
Martin ratio Return relative to average drawdown	20.66	15.15	+5.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DJUN vs. XMAG - Sharpe Ratio Comparison

The current DJUN Sharpe Ratio is 2.22, which is comparable to the XMAG Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of DJUN and XMAG, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DJUN	XMAG	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.23	-0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.97	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	1.11	-0.07

Drawdowns

DJUN vs. XMAG - Drawdown Comparison

The maximum DJUN drawdown since its inception was -11.96%, smaller than the maximum XMAG drawdown of -16.17%. Use the drawdown chart below to compare losses from any high point for DJUN and XMAG.

Drawdown Indicators

	DJUN	XMAG	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-16.17%	+4.21%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-7.29%	+4.14%
Max Drawdown (3Y) Largest decline over 3 years	-11.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-1.59%	-2.13%	+0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	1.63%	-1.10%

Volatility

DJUN vs. XMAG - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) is 0.25%, while Defiance Large Cap ex-Mag 7 ETF (XMAG) has a volatility of 2.87%. This indicates that DJUN experiences smaller price fluctuations and is considered to be less risky than XMAG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DJUN	XMAG	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	2.87%	-2.62%
Volatility (6M) Calculated over the trailing 6-month period	3.55%	8.65%	-5.10%
Volatility (1Y) Calculated over the trailing 1-year period	5.04%	11.10%	-6.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.52%	15.12%	-6.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.06%	15.12%	-7.06%

DJUN vs. XMAG - Expense Ratio Comparison

DJUN has a 0.85% expense ratio, which is higher than XMAG's 0.35% expense ratio.

Dividends

DJUN vs. XMAG - Dividend Comparison

DJUN has not paid dividends to shareholders, while XMAG's dividend yield for the trailing twelve months is around 0.46%.

Position	TTM	2025	2024
DJUN FT Cboe Vest U.S. Equity Deep Buffer ETF - June	0.00%	0.00%	0.00%
XMAG Defiance Large Cap ex-Mag 7 ETF	0.46%	0.51%	0.24%

Frequently Asked Questions

Can I hold both DJUN and XMAG in my portfolio?

DJUN and XMAG have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DJUN or XMAG?

XMAG has higher volatility (2.87%) compared to DJUN (0.25%). In terms of maximum drawdown, DJUN dropped -11.96% vs XMAG's -16.17%.

Which ETF is better, DJUN or XMAG?

On 1-year performance, XMAG leads with 24.62% vs 10.92% for DJUN. On fees, XMAG is cheaper at 0.35% per year. On volatility, DJUN has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJUN or XMAG?

Over the 1-year period, XMAG has performed better with a 24.62% return vs 10.92%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJUN or XMAG?

XMAG is cheaper with a 0.35% expense ratio, compared with 0.85% for DJUN.

Which ETF pays a higher dividend yield, DJUN or XMAG?

XMAG has the higher dividend yield at 0.46%, compared with 0.00% for DJUN.

What is the main difference between DJUN and XMAG?

DJUN tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index, while XMAG tracks BITA US 500 ex Magnificent 7 Index. They also come from different issuers: First Trust and Defiance. Their fees differ too: 0.85% for DJUN and 0.35% for XMAG.

Which has better risk-adjusted returns?

XMAG currently has the higher Sharpe Ratio (2.23 vs 2.22), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.