GJUN vs PSMJ

GJUNCFT Vest U.S. Equity Moderate Buffer ETF - June

PSMJBPacer Swan SOS Moderate (July) ETF

In short

GJUN Rebuilt every June: GJUN follows the price of the SPDR S&P 500 ETF Trust up to a preset cap while absorbing the first 15% of a decline. A cushion with a ceiling, on a fixed annual schedule.

PSMJ Pacer's July-dated stop on the Swan SOS ladder: FLEX options on SPY that buffer the first 15% of a fall over a roughly one-year period, with upside capped in return. At 0.49%, it undercuts most of the buffer aisle.

Stated mandate

GJUN The Fund seeks to match the price return of the State Street SPDR S&P 500 ETF Trust, before fees and expenses, up to a predetermined upside cap while buffering the first 15% of losses during the current outcome period.

PSMJ The Fund seeks to track the returns of the SPDR S&P 500 ETF Trust up to a predetermined cap while providing a downside buffer over an approximately one-year period.

Why people hold it

• GJUN The 15% cushion is written into the fund's terms, not left to a manager's judgment: each June-to-June outcome period aims to absorb the reference ETF's first 15% of losses.
• The reference asset is the SPDR S&P 500 ETF Trust itself, so the thing being buffered is a fund whose price you can watch tick by tick.
• June is one rung in First Trust's full twelve-month moderate-buffer series, so the reset month is a choice and laddering across months is straightforward.

• PSMJ Charges 0.49% a year against a 0.79% median for its buffered-SPY cohort, the same 0.79% Innovator's Power Buffer funds (PJUL, PJAN, POCT) charge for a similar job.
• The deal is legible: FLEX options on SPY absorb the first 15% of a decline over the outcome period, and match the ETF's gains up to a cap struck each July.paceretfs.compaceretfs.com 2
• Those FLEX options are customizable exchange-traded contracts settled through the Options Clearing Corporation, and Durango-based Swan Global Management sub-advises the strategy.paceretfs.com
• One of four Moderate-series funds with staggered start months (PSMD, PSMR, PSMJ, PSMO), so a July reset can be stacked against other entry points rather than standing alone.paceretfs.com

Worth knowing

• GJUN At 0.85% a year it prices above the typical fund in its buffer cohort, a big reason it sits in the lower half of that peer group.
• Cap and buffer are measured across a full outcome period. Step in mid-period and your remaining cushion and upside room differ from the headline terms.
• The mandate targets price return, so payouts are not part of the design.

• PSMJ The 15% buffer and the cap belong to the full outcome period. Step in mid-period and you inherit whatever cap and buffer remain, not the starting terms.paceretfs.com
• Thinly traded next to the largest buffer funds, so spreads and limit orders deserve more of your attention at the point of entry.
• No regular income stream here: the options structure delivers its result through share price rather than distributions.paceretfs.com

Full GJUN profile⁠

Full PSMJ profile⁠