JUNM vs. DMAX
JUNM (FT Vest U.S. Equity Max Buffer ETF - June) and DMAX (iShares Large Cap Max Buffer December ETF) are both Defined Outcome funds. JUNM is actively managed, while DMAX is passively managed. Over the past year, JUNM returned 6.18% vs 8.23% for DMAX. A 0.75 correlation means they provide meaningful diversification when combined. JUNM charges 0.85%/yr vs 0.50%/yr for DMAX.
Performance
JUNM vs. DMAX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with JUNM having a 2.42% return and DMAX slightly lower at 2.34%.
JUNM
- 1D
- -0.14%
- 1M
- 0.31%
- YTD
- 2.42%
- 6M
- 2.52%
- 1Y
- 6.18%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DMAX
- 1D
- -0.02%
- 1M
- 0.22%
- YTD
- 2.34%
- 6M
- 2.59%
- 1Y
- 8.23%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
JUNM vs. DMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
JUNM FT Vest U.S. Equity Max Buffer ETF - June | 2.42% | 7.85% |
DMAX iShares Large Cap Max Buffer December ETF | 2.34% | 7.51% |
Correlation
The correlation between JUNM and DMAX is 0.68, 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 | 0.68 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2025 | 0.75 |
The correlation between JUNM and DMAX has been stable across timeframes, ranging from 0.68 to 0.75 - a consistent structural relationship.
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Return for Risk
JUNM vs. DMAX — Risk / Return Rank
JUNM
DMAX
JUNM vs. DMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - June (JUNM) and iShares Large Cap Max Buffer December ETF (DMAX). 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.
| JUNM | DMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.56 | ||
| Omega ratioGain probability vs. loss probability | 1.83 | 1.76 | +0.07 |
| Calmar ratioReturn relative to maximum drawdown | 5.64 | 5.85 | -0.21 |
| Martin ratioReturn relative to average drawdown | 35.60 | 29.41 | +6.19 |
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Drawdowns
JUNM vs. DMAX - Drawdown Comparison
The maximum JUNM drawdown since its inception was -5.42%, which is greater than DMAX's maximum drawdown of -3.37%. Use the drawdown chart below to compare losses from any high point for JUNM and DMAX.
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Drawdown Indicators
| JUNM | DMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.42% | -3.37% | -2.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.10% | -1.41% | +0.31% |
Current DrawdownCurrent decline from peak | -0.14% | -0.24% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -0.40% | -0.38% | -0.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.17% | 0.28% | -0.11% |
Volatility
JUNM vs. DMAX - Volatility Comparison
The current volatility for FT Vest U.S. Equity Max Buffer ETF - June (JUNM) is 0.28%, while iShares Large Cap Max Buffer December ETF (DMAX) has a volatility of 0.64%. This indicates that JUNM experiences smaller price fluctuations and is considered to be less risky than DMAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| JUNM | DMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.28% | 0.64% | -0.36% |
Volatility (6M)Calculated over the trailing 6-month period | 1.40% | 1.64% | -0.24% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.75% | 2.34% | -0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.29% | 3.38% | +0.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.29% | 3.38% | +0.91% |
JUNM vs. DMAX - Expense Ratio Comparison
JUNM has a 0.85% expense ratio, which is higher than DMAX's 0.50% expense ratio.
Dividends
JUNM vs. DMAX - Dividend Comparison
JUNM has not paid dividends to shareholders, while DMAX's dividend yield for the trailing twelve months is around 1.15%.
| Position | TTM | 2025 |
|---|---|---|
DMAX iShares Large Cap Max Buffer December ETF | 1.15% | 1.18% |
JUNM FT Vest U.S. Equity Max Buffer ETF - June | 0.00% | 0.00% |
Frequently Asked Questions
JUNM and DMAX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DMAX has higher volatility (0.64%) compared to JUNM (0.28%). In terms of maximum drawdown, JUNM dropped -5.42% vs DMAX's -3.37%.
On 1-year performance, DMAX leads with 8.23% vs 6.18% for JUNM. On fees, DMAX is cheaper at 0.50% per year. On volatility, JUNM has been the lower-risk option at 0.28%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, DMAX has performed better with a 8.23% return vs 6.18%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
DMAX is cheaper with a 0.50% expense ratio, compared with 0.85% for JUNM.
DMAX has the higher dividend yield at 1.15%, compared with 0.00% for JUNM.
They also come from different issuers: First Trust and iShares. Their fees differ too: 0.85% for JUNM and 0.50% for DMAX.
JUNM currently has the higher Sharpe Ratio (3.55 vs 3.55), 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.
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