Skip to content
etf.net

BUFM vs JANZ

AB Moderate Buffer ETF

BUFMBNasdaq

TrueShares Structured Outcome (January) ETF

JANZDCboe

Overlap

0.0%by weight

Expense ratio

BUFM −0.11pt a year

BUFM0.69%JANZ0.80%

Avg volume · 30D

BUFM 11.8×the volume

BUFM28.8KJANZ2.44K

BUFM vs JANZ Performance

Nov 5, 2025 – Nov 5, 2026

+3.6%BUFM+5.9%JANZ

Nov 5, 2025 to Nov 5, 2026. BUFM +3.6%. JANZ +5.9%. Use the arrow keys to read each point.−5%−2.5%0%10%Nov 2025May 2026Nov 2026
Expense ratio
BUFM 0.69%, better
JANZ 0.80%
Fund size
BUFM $493M
JANZ $41M
1Y total return
BUFM +3.6%
JANZ +5.9%, better
Yield (12M)
BUFM No data
JANZ 1.35%
Holdings
BUFM 5
JANZ 14
Avg volume (30D)
BUFM 28.8K sh, better
JANZ 2.44K sh
NAV per share
BUFM $41.00
JANZ $41.64
52W range

ETF.net Grade

BUFM: Cost 82, Risk 48, Mission not scored, Tradability 53, Holdings not scored, Durability 50. JANZ: Cost 40, Risk 29, Mission not scored, Tradability 37, Holdings not scored, Durability 49.
Pillar letters and Scores for BUFM, JANZ, with each pillar’s weight
PillarBUFMJANZ
Cost30% weightA82HigherC40
Mission25% weightNot scoredNot scored
Risk15% weightC48HigherD29
Tradability15% weightC53HigherD37
Holdings10% weightNot scoredNot scored
Durability5% weightC50HigherC49

Rank among S&P 500 Buffer 9-12% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. BUFM and JANZ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

BUFM ranks 4th and JANZ 69th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 66
  3. Rank 3BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 65
  4. Rank 4BBUFMAB Moderate Buffer ETFScore 64
  5. Rank 4BTENDiShares Large Cap 10% Target Buffer Dec ETFScore 64
  6. Rank 66DSEPZTrueShares Structured Outcome (September) ETFScore 38
  7. Rank 69DJANZTrueShares Structured Outcome (January) ETFScore 37
  8. Rank 70DDGOCFT Vest U.S. Equity Buffer & Digital Return ETF - OctoberScore 35

Our read on each fund

ETF.net Research

BUFMBAB Moderate Buffer ETF

JANZDTrueShares Structured Outcome (January) ETF

In short

BUFM No data

JANZ The buffer ETF that refuses to cap you. TrueShares pioneered the uncapped format in 2020: no ceiling on gains, just a partial share of the S&P 500's price move, with the first 8% to 12% of a calendar-year drop buffered.

Stated mandate

BUFM No data

JANZ The Fund seeks returns tracking the S&P 500 Price Return Index while buffering the first 8%–12% of index losses over a 12-month period. Its current period runs from January 1 through December 31, 2026.

Why people hold it

BUFM No data

  • JANZ No cap, by design. Most buffer funds trade away a ceiling on gains; this series pioneered the uncapped format in 2020 and takes a partial slice of index upside instead.true-shares.com
  • The buffer is the headline: it aims to absorb the first 8% to 12% of S&P 500 price losses (the adviser targets 10%) over the January to December period, then resets.true-shares.com
  • Siblings start in other months (FEBZ, MARZ, JULZ and more), so the uncapped format can be spread across staggered start dates instead of one January entry point.

Worth knowing

BUFM No data

  • JANZ 0.80% sits near the typical buffer-fund fee, though cheaper takes exist: AUGP and PQX charge 0.50%, ZALT 0.69%.
  • Uncapped is not free. Upside arrives as a share of index gains, not all of them, and option pricing sets that share each period.true-shares.comtrue-shares.com 2
  • The reference is the S&P 500 Price Return Index, so dividends sit outside the math. It is also a small fund that trades thinly, which can mean wider spreads.

Full BUFM profile⁠

Full JANZ profile⁠

BUFM vs JANZ Holdings

How BUFM and JANZ differ

Overlap by weight

0.0%

Level by level

  • Asset classAlternatives, Stocks0.0%
  • Holdings0 in both0.0%
  • Sector11 Sectors97.1%
  • Countryby domicile99.5%

Sector

Sector weights in BUFM and JANZ, widest gap first
SectorMore in BUFMMore in JANZGap
TechnologyBUFM +2.2 points
Consumer DiscretionaryJANZ +0.9 points
IndustrialsJANZ +0.8 points
EnergyBUFM +0.4 points
FinancialsJANZ +0.4 points
UtilitiesJANZ +0.4 points
Health CareBUFM +0.3 points
Consumer StaplesJANZ +0.2 points
Real EstateJANZ +0.2 points
MaterialsJANZ +0.1 points
CommunicationJANZ +0.1 points

Country, concentration and asset class

Country by domicile

Country weights in BUFM and JANZ, widest gap first
CountryMore in BUFMMore in JANZGap
United StatesJANZ +0.5 points
SwitzerlandBUFM +0.3 points
ChinaBUFM +0.1 points
MexicoBUFM +0.1 points
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • BUFM101.0%
  • JANZ100.1%

Securities held

  • BUFM3
  • JANZ3

Asset class

BUFM
Alternatives
JANZ
Stocks

Holdings

  • Only in BUFM3
  • In both0
  • Only in JANZ3

Only in BUFM

3 securities, 100% of BUFM by weight

  • 4SPY 12/31/26 C3.81 4SPY 12/31/26 C3.8199.14%
  • 4SPY 12/31/26 P750.28 4SPY 12/31/26 P750.281.28%
  • Alliancebernstein Govt Stif Ssc Fund 64BA Agis 5870.55%

Only in JANZ

3 securities, 89.8% of JANZ by weight

  • Treasury Bill B 12/24/2687.06%
  • State Street Inst U.s. Government Mmkt Admn Class2.71%
  • Broker Sweep0.04%

Weight gaps

BUFM and JANZ share no securities.

All BUFM holdings⁠All 16 JANZ holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BUFM vs JANZ Cost

Overpaying JANZ vs BUFM

$1,917

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • BUFM 0.69%

    $13,429

  • JANZ 0.80%

    $15,346

$10,000
30 years

Cost over time

  • BUFM 0.69%
  • JANZ 0.80%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530JANZ $15,346BUFM $13,429

Year by year

YearBUFMJANZOverpaying
10$1,232$1,422$190
20$4,697$5,393$696
30$13,429$15,346$1,917

Expense ratio

  • 0.69%BUFM, cheaper
  • 0.80%JANZ
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

BUFM 14th cheapest of 77 funds

JANZ 59th cheapest of 77 funds

BUFM vs JANZ Dividends

Last 12 months to Nov 5, 2026
Yield (12M)
BUFM No data
JANZ 1.35%
Payout (12M)
BUFM None
JANZ $0.54
Last payment
BUFM No data
JANZ $0.54
Ex-dividend
BUFM No data
JANZ Dec 24, 2025
Paid on
BUFM No data
JANZ Dec 26, 2025
Frequency
BUFM No data
JANZ Annual

Distribution history

Per share, 2021 to 2026, same scale for both

BUFMAll BUFM payments⁠

No distribution history available.

JANZAnnual · 5 paymentsAll JANZ payments⁠
One bar per payment. 5 payments from 2021 to 2026 YTD. Dec 29, 2021 $1.32; Dec 29, 2022 $0.05; Dec 27, 2023 $0.77; Dec 27, 2024 $0.93; Dec 24, 2025 $0.54. Use the arrow keys to read each point.$0$120232026YTD

BUFM vs JANZ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
BUFM 5.4%since Jan 2025JANZ 9.3%
Return per unit of riskSharpe ratio, 3 years
BUFM 0.92since Jan 2025JANZ 1.23
Worst fallMax drawdown, 5 years
BUFM −9.4%since Dec 2024JANZ −18.1%
Market sensitivityBeta, 5 years
BUFM 0.40JANZ 0.73

Popular comparisons

  • BUFMBvsZALTA

    AB Moderate Buffer ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.69% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • JANZDvsZALTA

    TrueShares Structured Outcome (January) ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.80% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BUFMBvsSIXJB

    AB Moderate Buffer ETF · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.69% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • JANZDvsSIXJB

    TrueShares Structured Outcome (January) ETF · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.80% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • BUFMBvsAUGPB

    AB Moderate Buffer ETF · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.69% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • JANZDvsAUGPB

    TrueShares Structured Outcome (January) ETF · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.80% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.