TJUN vs. ZMAY
TJUN (FT Vest Emerging Markets Buffer ETF - June) and ZMAY (Innovator Equity Defined Protection ETF - 1 Yr May) are both Defined Outcome funds. Over the past year, TJUN returned 18.22% vs 5.10% for ZMAY. A 0.51 correlation means they provide meaningful diversification when combined. TJUN charges 0.95%/yr vs 0.79%/yr for ZMAY.
Performance
TJUN vs. ZMAY - Performance Comparison
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Returns By Period
In the year-to-date period, TJUN achieves a 5.75% return, which is significantly higher than ZMAY's 1.75% return.
TJUN
- 1D
- 0.02%
- 1M
- 0.79%
- YTD
- 5.75%
- 6M
- 6.56%
- 1Y
- 18.22%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMAY
- 1D
- -0.19%
- 1M
- -0.17%
- YTD
- 1.75%
- 6M
- 1.87%
- 1Y
- 5.10%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
TJUN vs. ZMAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
TJUN FT Vest Emerging Markets Buffer ETF - June | 5.75% | 11.79% |
ZMAY Innovator Equity Defined Protection ETF - 1 Yr May | 1.75% | 3.46% |
Correlation
The correlation between TJUN and ZMAY is 0.51, 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 | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jun 23, 2025 | 0.51 |
The correlation between TJUN and ZMAY has been stable across timeframes, ranging from 0.51 to 0.51 - a consistent structural relationship.
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Return for Risk
TJUN vs. ZMAY — Risk / Return Rank
TJUN
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZMAY
TJUN vs. ZMAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Emerging Markets Buffer ETF - June (TJUN) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY). 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.
| TJUN | ZMAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.71 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 7.30 | — |
| Martin ratioReturn relative to average drawdown | — | 41.89 | — |
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Drawdowns
TJUN vs. ZMAY - Drawdown Comparison
The maximum TJUN drawdown since its inception was -4.47%, which is greater than ZMAY's maximum drawdown of -0.70%. Use the drawdown chart below to compare losses from any high point for TJUN and ZMAY.
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Drawdown Indicators
| TJUN | ZMAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.47% | -0.70% | -3.77% |
Max Drawdown (1Y)Largest decline over 1 year | -4.47% | -0.70% | -3.77% |
Current DrawdownCurrent decline from peak | 0.00% | -0.50% | +0.50% |
Average DrawdownAverage peak-to-trough decline | -0.57% | -0.07% | -0.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.12% | — |
Volatility
TJUN vs. ZMAY - Volatility Comparison
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Volatility by Period
| TJUN | ZMAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.80% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.30% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 7.35% | 1.61% | +5.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.35% | 1.70% | +5.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.35% | 1.70% | +5.65% |
TJUN vs. ZMAY - Expense Ratio Comparison
TJUN has a 0.95% expense ratio, which is higher than ZMAY's 0.79% expense ratio.
Dividends
TJUN vs. ZMAY - Dividend Comparison
Neither TJUN nor ZMAY has paid dividends to shareholders.
Frequently Asked Questions
TJUN and ZMAY have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On 1-year performance, TJUN leads with 18.22% vs 5.10% for ZMAY. On fees, ZMAY is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, TJUN has performed better with a 18.22% return vs 5.10%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ZMAY is cheaper with a 0.79% expense ratio, compared with 0.95% for TJUN.
TJUN and ZMAY have nearly identical dividend yields, around 0.00%.
They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.95% for TJUN and 0.79% for ZMAY.
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