UXJL vs. SMAX

Last updated Jun 4, 2026

UXJL (FT Vest U.S. Equity Uncapped Accelerator ETF - July) and SMAX (iShares Large Cap Max Buffer Sep ETF) are both Defined Outcome funds. Both are actively managed. Their correlation of 0.86 suggests significant overlap in exposure. UXJL charges 0.85%/yr vs 0.50%/yr for SMAX.

Performance

UXJL vs. SMAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Uncapped Accelerator ETF - July (UXJL) and iShares Large Cap Max Buffer Sep ETF (SMAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, UXJL achieves a 11.78% return, which is significantly higher than SMAX's 3.09% return.

UXJL

• 1D: -0.76%
• 1M: 6.02%
• YTD: 11.78%
• 6M: 11.50%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

SMAX

• 1D: -0.09%
• 1M: 1.09%
• YTD: 3.09%
• 6M: 3.54%
• 1Y: 9.17%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

UXJL vs. SMAX - Yearly Performance Comparison

	2026 (YTD)	2025
UXJL FT Vest U.S. Equity Uncapped Accelerator ETF - July	11.78%	9.31%
SMAX iShares Large Cap Max Buffer Sep ETF	3.09%	3.71%

Correlation

The correlation between UXJL and SMAX is 0.86, 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 Jul 22, 2025	0.86

Return for Risk

UXJL vs. SMAX — Risk / Return Rank

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

SMAX

SMAX Risk / Return Rank: 93
SMAX Sharpe Ratio Rank: 93
SMAX Sortino Ratio Rank: 95
SMAX Omega Ratio Rank: 95
SMAX Calmar Ratio Rank: 86
SMAX Martin Ratio Rank: 94

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.

UXJL vs. SMAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Uncapped Accelerator ETF - July (UXJL) and iShares Large Cap Max Buffer Sep ETF (SMAX). 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

	UXJL	SMAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.46	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.87	2.01	-0.14

Drawdowns

UXJL vs. SMAX - Drawdown Comparison

The maximum UXJL drawdown since its inception was -10.29%, which is greater than SMAX's maximum drawdown of -3.90%. Use the drawdown chart below to compare losses from any high point for UXJL and SMAX.

Drawdown Indicators

	UXJL	SMAX	Difference
Max Drawdown Largest peak-to-trough decline	-10.29%	-3.90%	-6.39%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.91%	—
Current Drawdown Current decline from peak	-0.76%	-0.09%	-0.67%
Average Drawdown Average peak-to-trough decline	-1.51%	-0.40%	-1.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	UXJL	SMAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.38%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.10%	—
Volatility (1Y) Calculated over the trailing 1-year period	13.90%	2.67%	+11.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.90%	3.67%	+10.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.90%	3.67%	+10.23%

UXJL vs. SMAX - Expense Ratio Comparison

UXJL has a 0.85% expense ratio, which is higher than SMAX's 0.50% expense ratio.

Dividends

UXJL vs. SMAX - Dividend Comparison

UXJL has not paid dividends to shareholders, while SMAX's dividend yield for the trailing twelve months is around 0.95%.

Position	TTM	2025	2024
SMAX iShares Large Cap Max Buffer Sep ETF	0.95%	0.98%	0.27%
UXJL FT Vest U.S. Equity Uncapped Accelerator ETF - July	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both UXJL and SMAX in my portfolio?

UXJL and SMAX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, UXJL or SMAX?

On fees, SMAX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, UXJL or SMAX?

SMAX is cheaper with a 0.50% expense ratio, compared with 0.85% for UXJL.

Which ETF pays a higher dividend yield, UXJL or SMAX?

SMAX has the higher dividend yield at 0.95%, compared with 0.00% for UXJL.

What is the main difference between UXJL and SMAX?

They also come from different issuers: First Trust and iShares. Their fees differ too: 0.85% for UXJL and 0.50% for SMAX.