SEPM vs. JULB

Last updated Jun 23, 2026

SEPM (FT Vest U.S. Equity Max Buffer ETF - September) and JULB (Aptus July Buffer ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.92 suggests significant overlap in exposure. SEPM charges 0.85%/yr vs 0.25%/yr for JULB.

Performance

SEPM vs. JULB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - September (SEPM) and Aptus July Buffer ETF (JULB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SEPM achieves a 3.08% return, which is significantly lower than JULB's 6.77% return.

SEPM

• 1D: -0.03%
• 1M: 0.35%
• YTD: 3.08%
• 6M: 3.10%
• 1Y: 7.59%
• 3Y*: —
• 5Y*: —
• 10Y*: —

JULB

• 1D: -0.06%
• 1M: 0.99%
• YTD: 6.77%
• 6M: 6.67%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

SEPM vs. JULB - Yearly Performance Comparison

	2026 (YTD)	2025
SEPM FT Vest U.S. Equity Max Buffer ETF - September	3.08%	1.18%
JULB Aptus July Buffer ETF	6.77%	2.44%

Correlation

The correlation between SEPM and JULB is 0.92, 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 14, 2025	0.92

Return for Risk

SEPM vs. JULB — Risk / Return Rank

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

SEPM

SEPM Risk / Return Rank: 90
SEPM Sharpe Ratio Rank: 91
SEPM Sortino Ratio Rank: 94
SEPM Omega Ratio Rank: 93
SEPM Calmar Ratio Rank: 82
SEPM Martin Ratio Rank: 91

JULB

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

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.

SEPM vs. JULB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - September (SEPM) and Aptus July Buffer ETF (JULB). 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.

	SEPM	JULB	Difference
Sharpe ratio: Return per unit of total volatility	3.01	—	—
Sortino ratio: Return per unit of downside risk	4.63	—	—
Omega ratio: Gain probability vs. loss probability	1.63	—	—
Calmar ratio: Return relative to maximum drawdown	4.18	—	—
Martin ratio: Return relative to average drawdown	21.06	—	—

Drawdowns

SEPM vs. JULB - Drawdown Comparison

The maximum SEPM drawdown since its inception was -3.88%, smaller than the maximum JULB drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for SEPM and JULB.

Drawdown Indicators

	SEPM	JULB	Difference
Max Drawdown Largest peak-to-trough decline	-3.88%	-5.24%	+1.36%
Max Drawdown (1Y) Largest decline over 1 year	-1.82%	—	—
Current Drawdown Current decline from peak	-0.07%	-0.06%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.36%	-0.84%	+0.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.36%	—	—

Volatility

Volatility by Period

	SEPM	JULB	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.65%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.03%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.54%	6.84%	-4.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.48%	6.84%	-3.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.48%	6.84%	-3.36%

SEPM vs. JULB - Expense Ratio Comparison

SEPM has a 0.85% expense ratio, which is higher than JULB's 0.25% expense ratio.

Dividends

SEPM vs. JULB - Dividend Comparison

Neither SEPM nor JULB has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both SEPM and JULB in my portfolio?

With a correlation of 0.92, SEPM and JULB 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, SEPM or JULB?

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, SEPM or JULB?

JULB is cheaper with a 0.25% expense ratio, compared with 0.85% for SEPM.

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

SEPM and JULB have nearly identical dividend yields, around 0.00%.

What is the main difference between SEPM and JULB?

They also come from different issuers: First Trust and Aptus Capital Advisors. Their fees differ too: 0.85% for SEPM and 0.25% for JULB.