JUNW vs PSFJ

JUNWCAllianzIM U.S. Equity Buffer20 Jun ETF

PSFJBPacer Swan SOS Flex (July) ETF

In short

JUNW JUNW is the June rung in AllianzIM's ladder of deep-buffer funds: it aims to match the one-year share-price return of the S&P 500's biggest ETF, absorbing the first 20% of losses in exchange for a capped upside.

PSFJ A 20% cushion against the S&P 500's first losses, paid for with a ceiling on the upside, reset every July 1. Pacer runs the trade for less than most of the deep-buffer crowd charges.

Stated mandate

JUNW The Fund seeks to match the SPDR® S&P 500® ETF Trust's share-price return at the end of each one-year Outcome Period, subject to an upside Cap and protection against the first 20% of losses.

PSFJ The Fund seeks to match, before fees and expenses, the returns of the SPDR S&P 500 ETF Trust up to a predetermined cap while buffering the first 20% of downside losses over an approximate one-year period.

Why people hold it

• JUNW Deep by design: the structure is built to absorb the first 20% of a one-year decline in the reference ETF, with an upside cap set at the start of each period as the trade-off.
• Fixed calendar: the June series runs June 1 through May 31, so the terms are published up front and reset on the same schedule every year.
• One rung of a full ladder: AllianzIM runs the same 20% buffer with other start months (JANW, APRW, MAYW, AUGW, DECW), so this is a repeatable sleeve rather than a one-off.
• The reference point is the SPDR S&P 500 ETF Trust itself, a price you can watch trade, not a bespoke index calculated somewhere out of view.

• PSFJ Costs 0.49% a year against a 0.74% median for 20% S&P 500 buffer funds, and undercuts the 0.74% AllianzIM month-series funds (JUNW, AUGW, DECW) built on the same reference.
• Deep cushion by design: it aims to absorb the first 20% of a decline in the SPDR S&P 500 ETF Trust over each roughly one-year period, before fees and expenses.paceretfs.com
• Live since 2021, with several annual reset cycles behind it and sibling funds (PSFM, PSFD) covering other start months. One of the stronger builds in a crowded 20% buffer field.

Worth knowing

• JUNW 0.74% a year is mid-pack for deep-buffer funds; cheaper builds of the same idea exist, including PBFR at 0.50% and Pacer's Swan SOS Flex funds at 0.49%.
• The payoff tracks share-price return only, so dividends from the underlying sit outside the deal, and gains stop at the cap.
• Come in mid-period and you inherit a different cap and less remaining cushion; the math is engineered to land at the outcome period's end.

• PSFJ The price of the cushion is a ceiling. Upside is capped at a level set when each July outcome period begins, so a roaring market leaves gains on the table.paceretfs.com
• Buffer and cap are designed to work over the full outcome period. Buy mid-period and the cushion remaining and the room left to run differ from the stated terms.paceretfs.com
• A smaller, thinly traded fund, so spreads can run wider than in the biggest names in the group. Income is not part of the design either.

Full JUNW profile⁠

Full PSFJ profile⁠