GSEP vs. FLJJ

Last updated Jul 14, 2026

GSEP (FT Cboe Vest U.S. Equity Moderate Buffer ETF – September) and FLJJ (Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF) are both Options Trading funds. Both are actively managed. Over the past year, GSEP returned 11.62% vs 11.64% for FLJJ. Their correlation of 0.89 suggests significant overlap in exposure. GSEP charges 0.85%/yr vs 0.74%/yr for FLJJ.

Performance

GSEP vs. FLJJ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) and Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF (FLJJ). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with GSEP having a 6.09% return and FLJJ slightly lower at 5.87%.

GSEP

• 1D: -0.22%
• 1M: 1.03%
• 6M: 5.06%
• YTD: 6.09%
• 1Y: 11.62%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FLJJ

• 1D: -0.29%
• 1M: 0.93%
• 6M: 5.08%
• YTD: 5.87%
• 1Y: 11.64%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

GSEP vs. FLJJ - Yearly Performance Comparison

	2026 (YTD)	2025	2024
GSEP FT Cboe Vest U.S. Equity Moderate Buffer ETF – September	6.09%	10.56%	9.81%
FLJJ Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF	5.87%	11.35%	14.40%

Correlation

The correlation between GSEP and FLJJ is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.91
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	0.89

The correlation between GSEP and FLJJ has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

Return for Risk

GSEP vs. FLJJ — Risk / Return Rank

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

GSEP

GSEP Risk / Return Rank: 78
GSEP Sharpe Ratio Rank: 77
GSEP Sortino Ratio Rank: 79
GSEP Omega Ratio Rank: 83
GSEP Calmar Ratio Rank: 66
GSEP Martin Ratio Rank: 84

FLJJ

FLJJ Risk / Return Rank: 89
FLJJ Sharpe Ratio Rank: 93
FLJJ Sortino Ratio Rank: 94
FLJJ Omega Ratio Rank: 93
FLJJ Calmar Ratio Rank: 75
FLJJ Martin Ratio Rank: 90

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.

GSEP vs. FLJJ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) and Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF (FLJJ). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	GSEP	FLJJ	Difference
Sharpe ratio: Return per unit of total volatility	1.95	2.58	-0.62
Sortino ratio: Return per unit of downside risk	2.80	3.84	-1.04
Omega ratio: Gain probability vs. loss probability	1.39	1.52	-0.12
Calmar ratio: Return relative to maximum drawdown	2.63	3.03	-0.40
Martin ratio: Return relative to average drawdown	13.19	16.01	-2.82

GSEP vs. FLJJ - Sharpe Ratio Comparison

The current GSEP Sharpe Ratio is 1.95, which is comparable to the FLJJ Sharpe Ratio of 2.58. The chart below compares the historical Sharpe Ratios of GSEP and FLJJ, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

GSEP vs. FLJJ - Drawdown Comparison

The maximum GSEP drawdown since its inception was -10.09%, which is greater than FLJJ's maximum drawdown of -6.91%. Use the drawdown chart below to compare losses from any high point for GSEP and FLJJ.

Drawdown Indicators

	GSEP	FLJJ	Difference
Max Drawdown Largest peak-to-trough decline	-10.09%	-6.91%	-3.18%
Max Drawdown (1Y) Largest decline over 1 year	-4.44%	-3.86%	-0.58%
Current Drawdown Current decline from peak	-0.22%	-0.29%	+0.07%
Average Drawdown Average peak-to-trough decline	-0.72%	-0.76%	+0.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.88%	0.73%	+0.15%

Volatility

GSEP vs. FLJJ - Volatility Comparison

FT Cboe Vest U.S. Equity Moderate Buffer ETF – September (GSEP) has a higher volatility of 1.45% compared to Allianzim U.S. Large Cap 6 Month Floor5 Jan/Jul ETF (FLJJ) at 1.24%. This indicates that GSEP's price experiences larger fluctuations and is considered to be riskier than FLJJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GSEP	FLJJ	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	1.24%	+0.21%
Volatility (6M) Calculated over the trailing 6-month period	4.85%	3.83%	+1.02%
Volatility (1Y) Calculated over the trailing 1-year period	6.00%	4.55%	+1.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.52%	6.14%	+1.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.52%	6.14%	+1.38%

GSEP vs. FLJJ - Expense Ratio Comparison

GSEP has a 0.85% expense ratio, which is higher than FLJJ's 0.74% expense ratio.

Dividends

GSEP vs. FLJJ - Dividend Comparison

Neither GSEP nor FLJJ has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GSEP and FLJJ in my portfolio?

With a correlation of 0.91, GSEP and FLJJ move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, GSEP or FLJJ?

GSEP has higher volatility (1.45%) compared to FLJJ (1.24%). In terms of maximum drawdown, GSEP dropped -10.09% vs FLJJ's -6.91%.

Which ETF is better, GSEP or FLJJ?

On 1-year performance, FLJJ leads with 11.64% vs 11.62% for GSEP. On fees, FLJJ is cheaper at 0.74% per year. On volatility, FLJJ has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GSEP or FLJJ?

Over the 1-year period, FLJJ has performed better with a 11.64% return vs 11.62%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GSEP or FLJJ?

FLJJ is cheaper with a 0.74% expense ratio, compared with 0.85% for GSEP.

Which ETF pays a higher dividend yield, GSEP or FLJJ?

GSEP and FLJJ have nearly identical dividend yields, around 0.00%.

What is the main difference between GSEP and FLJJ?

They also come from different issuers: FT Vest and Allianz. Their fees differ too: 0.85% for GSEP and 0.74% for FLJJ.

Which has better risk-adjusted returns?

FLJJ currently has the higher Sharpe Ratio (2.58 vs 1.95), 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.