UJUN vs. FJUN

Last updated Jun 24, 2026

UJUN (Innovator U.S. Equity Ultra Buffer ETF - June) and FJUN (FT Cboe Vest U.S. Equity Buffer ETF - June) are both Large Cap Blend Equities funds - UJUN tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index while FJUN tracks the Cboe S&P 500 Buffer Protect Index June. Both are passively managed. Over the past 5 years, UJUN returned 5.95%/yr vs 10.54%/yr for FJUN. Their correlation of 0.91 suggests significant overlap in exposure. UJUN charges 0.79%/yr vs 0.85%/yr for FJUN.

Performance

UJUN vs. FJUN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) and FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UJUN achieves a 1.98% return, which is significantly lower than FJUN's 4.00% return.

UJUN

• 1D: -0.66%
• 1M: -1.20%
• YTD: 1.98%
• 6M: 2.05%
• 1Y: 8.54%
• 3Y*: 10.46%
• 5Y*: 5.95%
• 10Y*: —

FJUN

• 1D: -0.80%
• 1M: -0.44%
• YTD: 4.00%
• 6M: 3.80%
• 1Y: 12.54%
• 3Y*: 13.29%
• 5Y*: 10.54%
• 10Y*: —

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

UJUN vs. FJUN - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	1.98%	10.63%	12.49%	12.17%	-8.86%	5.09%	4.70%
FJUN FT Cboe Vest U.S. Equity Buffer ETF - June	4.00%	11.05%	16.38%	22.30%	-4.95%	11.47%	9.90%

Correlation

The correlation between UJUN and FJUN is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 22, 2020	0.91

The correlation between UJUN and FJUN has been stable across timeframes, ranging from 0.87 to 0.94 - a consistent structural relationship.

UJUN vs. FJUN - Sectors Allocation Comparison

Sectors	UJUN	FJUN
Technology	38.4%	39.0%
Financial Services	11.0%	11.1%
Communication Services	10.8%	10.6%
Consumer Cyclical	10.0%	9.9%
Healthcare	8.4%	8.3%
Industrials	7.9%	7.8%
Consumer Defensive	4.6%	4.5%
Energy	3.2%	3.1%
Utilities	2.1%	2.1%
Real Estate	1.8%	1.8%
Basic Materials	1.7%	1.7%

Return for Risk

UJUN vs. FJUN — Risk / Return Rank

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

UJUN

UJUN Risk / Return Rank: 70
UJUN Sharpe Ratio Rank: 61
UJUN Sortino Ratio Rank: 65
UJUN Omega Ratio Rank: 78
UJUN Calmar Ratio Rank: 65
UJUN Martin Ratio Rank: 83

FJUN

FJUN Risk / Return Rank: 80
FJUN Sharpe Ratio Rank: 76
FJUN Sortino Ratio Rank: 83
FJUN Omega Ratio Rank: 86
FJUN Calmar Ratio Rank: 66
FJUN Martin Ratio Rank: 88

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.

UJUN vs. FJUN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) and FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN). 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.

	UJUN	FJUN	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.23	-0.36
Sortino ratio: Return per unit of downside risk	2.75	3.38	-0.63
Omega ratio: Gain probability vs. loss probability	1.42	1.48	-0.05
Calmar ratio: Return relative to maximum drawdown	3.02	3.05	-0.02
Martin ratio: Return relative to average drawdown	15.83	17.51	-1.67

UJUN vs. FJUN - Sharpe Ratio Comparison

The current UJUN Sharpe Ratio is 1.87, which is comparable to the FJUN Sharpe Ratio of 2.23. The chart below compares the historical Sharpe Ratios of UJUN and FJUN, 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

UJUN vs. FJUN - Drawdown Comparison

The maximum UJUN drawdown since its inception was -13.73%, roughly equal to the maximum FJUN drawdown of -13.26%. Use the drawdown chart below to compare losses from any high point for UJUN and FJUN.

Drawdown Indicators

	UJUN	FJUN	Difference
Max Drawdown Largest peak-to-trough decline	-13.73%	-13.26%	-0.47%
Max Drawdown (1Y) Largest decline over 1 year	-2.84%	-4.13%	+1.29%
Max Drawdown (3Y) Largest decline over 3 years	-11.24%	-13.26%	+2.02%
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	-13.26%	+1.30%
Current Drawdown Current decline from peak	-1.59%	-0.97%	-0.62%
Average Drawdown Average peak-to-trough decline	-2.06%	-1.66%	-0.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.54%	0.72%	-0.18%

Volatility

UJUN vs. FJUN - Volatility Comparison

Innovator U.S. Equity Ultra Buffer ETF - June (UJUN) has a higher volatility of 2.24% compared to FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN) at 0.94%. This indicates that UJUN's price experiences larger fluctuations and is considered to be riskier than FJUN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	UJUN	FJUN	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	0.94%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	3.88%	4.40%	-0.52%
Volatility (1Y) Calculated over the trailing 1-year period	4.60%	5.66%	-1.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.38%	10.56%	-2.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.78%	10.25%	-1.47%

UJUN vs. FJUN - Expense Ratio Comparison

UJUN has a 0.79% expense ratio, which is lower than FJUN's 0.85% expense ratio.

Dividends

UJUN vs. FJUN - Dividend Comparison

Neither UJUN nor FJUN has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
FJUN FT Cboe Vest U.S. Equity Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
UJUN Innovator U.S. Equity Ultra Buffer ETF - June	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	3.89%

Frequently Asked Questions

Can I hold both UJUN and FJUN in my portfolio?

UJUN and FJUN have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, UJUN or FJUN?

UJUN has higher volatility (2.24%) compared to FJUN (0.94%). In terms of maximum drawdown, UJUN dropped -13.73% vs FJUN's -13.26%.

Which ETF is better, UJUN or FJUN?

On 5-year performance, FJUN leads with 10.54% vs 5.95% for UJUN. On fees, UJUN is cheaper at 0.79% per year. On volatility, FJUN has been the lower-risk option at 0.94%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, UJUN or FJUN?

Over the 5-year period, FJUN has performed better with a 10.54% return vs 5.95%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, UJUN or FJUN?

UJUN is cheaper with a 0.79% expense ratio, compared with 0.85% for FJUN.

Which ETF pays a higher dividend yield, UJUN or FJUN?

UJUN and FJUN have nearly identical dividend yields, around 0.00%.

What is the main difference between UJUN and FJUN?

UJUN tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect June Series Index, while FJUN tracks Cboe S&P 500 Buffer Protect Index June. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for UJUN and 0.85% for FJUN.

Which has better risk-adjusted returns?

FJUN currently has the higher Sharpe Ratio (2.23 vs 1.87), 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.