GJUN vs PSMR

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

PSMRBPacer Swan SOS Moderate (April) 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.

PSMR A 15-point cushion on SPY, reset every April, for 0.49% a year while the typical buffer fund charges more. Pacer and Swan's moderate tier trades away some upside (a cap set each period) for a floor you know going in.

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.

PSMR The Fund seeks to match 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.

• PSMR Charges 0.49% a year against a 0.79% median in its buffered-SPY cohort, and undercuts Pacer's own single-month siblings like PJUL and POCT at 0.79%.
• The contract is spelled out: a 15-point buffer against SPDR S&P 500 ETF Trust losses over roughly a one-year period, with upside capped at a level set when the period begins.paceretfs.com
• Terms reset on April 1 each year, so the new buffer and cap arrive on a known calendar date instead of whenever you happened to buy in.paceretfs.com
• Running since 2021, so this April series has cycled through several complete outcome periods rather than being a fresh launch with a paper track record.

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.

• PSMR Thinly traded next to the biggest names in buffer land, so spreads and order size are worth a look before you place a trade.
• The cap cuts both ways: big SPY years get trimmed, and the stated buffer and cap only line up in full for a holder who rides one April reset to the next.
• Not an income vehicle. It has not been paying a regular distribution, so whatever the strategy delivers shows up in the share price.

Full GJUN profile⁠

Full PSMR profile⁠