JULB vs. TENM

Last updated Jun 4, 2026

JULB (Aptus July Buffer ETF) and TENM (iShares Large Cap 10% Target Buffer Mar ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.93 suggests significant overlap in exposure. JULB charges 0.25%/yr vs 0.50%/yr for TENM.

Performance

JULB vs. TENM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aptus July Buffer ETF (JULB) and iShares Large Cap 10% Target Buffer Mar ETF (TENM). 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 JULB having a 6.35% return and TENM slightly lower at 6.19%.

JULB

• 1D: -0.07%
• 1M: 2.40%
• YTD: 6.35%
• 6M: 6.93%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

TENM

• 1D: -0.20%
• 1M: 2.22%
• YTD: 6.19%
• 6M: 6.58%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JULB vs. TENM - Yearly Performance Comparison

	2026 (YTD)	2025
JULB Aptus July Buffer ETF	6.35%	1.99%
TENM iShares Large Cap 10% Target Buffer Mar ETF	6.19%	2.04%

Correlation

The correlation between JULB and TENM is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 23, 2025	0.93

Return for Risk

JULB vs. TENM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aptus July Buffer ETF (JULB) and iShares Large Cap 10% Target Buffer Mar ETF (TENM). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	JULB	TENM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	2.17	2.17	0.00

Drawdowns

JULB vs. TENM - Drawdown Comparison

The maximum JULB drawdown since its inception was -5.24%, which is greater than TENM's maximum drawdown of -3.61%. Use the drawdown chart below to compare losses from any high point for JULB and TENM.

Drawdown Indicators

	JULB	TENM	Difference
Max Drawdown Largest peak-to-trough decline	-5.24%	-3.61%	-1.63%
Current Drawdown Current decline from peak	-0.07%	-0.24%	+0.17%
Average Drawdown Average peak-to-trough decline	-0.87%	-0.70%	-0.17%

Volatility

Volatility by Period

	JULB	TENM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	6.81%	6.52%	+0.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.81%	6.52%	+0.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.81%	6.52%	+0.29%

JULB vs. TENM - Expense Ratio Comparison

JULB has a 0.25% expense ratio, which is lower than TENM's 0.50% expense ratio.

Dividends

JULB vs. TENM - Dividend Comparison

JULB has not paid dividends to shareholders, while TENM's dividend yield for the trailing twelve months is around 0.28%.

Position	TTM	2025
JULB Aptus July Buffer ETF	0.00%	0.00%
TENM iShares Large Cap 10% Target Buffer Mar ETF	0.28%	0.29%

Frequently Asked Questions

Can I hold both JULB and TENM in my portfolio?

With a correlation of 0.93, JULB and TENM 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 ETF is better, JULB or TENM?

On fees, JULB is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, JULB or TENM?

JULB is cheaper with a 0.25% expense ratio, compared with 0.50% for TENM.

Which ETF pays a higher dividend yield, JULB or TENM?

TENM has the higher dividend yield at 0.28%, compared with 0.00% for JULB.

What is the main difference between JULB and TENM?

They also come from different issuers: Aptus Capital Advisors and BlackRock. Their fees differ too: 0.25% for JULB and 0.50% for TENM.