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MAXJ vs TJUL

iShares Large Cap Max Buffer Jun ETF

MAXJACboe

Innovator Equity Defined Protection ETF

TJULCCboe

Overlap

0.0%by weight

Expense ratio

MAXJ −0.26pt a year

MAXJ0.53%TJUL0.79%

Avg volume · 30D

MAXJ 3.0×the volume

MAXJ37.6KTJUL12.4K

MAXJ vs TJUL Performance

Oct 31, 2025 – Oct 30, 2026

+5.8%MAXJ+4.6%TJUL

Oct 31, 2025 to Oct 30, 2026. MAXJ +5.8%. TJUL +4.6%. Use the arrow keys to read each point.0%2%Oct 2025Apr 2026Oct 2026
Expense ratio
MAXJ 0.53%, better
TJUL 0.79%
Fund size
MAXJ $163M
TJUL $114M
1Y total return
MAXJ +5.8%, better
TJUL +4.6%
Yield (12M)
MAXJ 0.96%
TJUL No data
Holdings
MAXJ 5
TJUL 3
Avg volume (30D)
MAXJ 37.6K sh, better
TJUL 12.4K sh
NAV per share
MAXJ $29.54
TJUL $30.79
52W range

ETF.net Grade

MAXJ: Cost 83, Risk 51, Mission not scored, Tradability 82, Holdings 58, Durability 88. TJUL: Cost 21, Risk 52, Mission not scored, Tradability 68, Holdings not scored, Durability 91.
Pillar letters and Scores for MAXJ, TJUL, with each pillar’s weight
PillarMAXJTJUL
Cost30% weightA83HigherF21
Mission25% weightNot scoredNot scored
Risk15% weightC51C52Higher
Tradability15% weightA82HigherB68
Holdings10% weightB58Not scored
Durability5% weightA88A91Higher

Rank among S&P 500 Full Protection funds

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

Same Category. MAXJ and TJUL are both graded against the same 27 S&P 500 Full Protection funds, so their Grades compare head to head.

S&P 500 Full Protection⁠

Category · 27 funds
See all 27 ›

MAXJ ranks 3rd and TJUL 19th of 27 funds in the S&P 500 Full Protection Category.

  1. Rank 1ACPSLCalamos Laddered S&P 500 Structured Alt Protection ETFScore 80
  2. Rank 2AMMAXiShares Large Cap Max Buffer Mar ETFScore 76
  3. Rank 3AMAXJiShares Large Cap Max Buffer Jun ETFScore 75
  4. Rank 4BCPSNCalamos S&P 500 Structured Alt Protection ETF – NovemberScore 59
  5. Rank 17CZJULInnovator Equity Defined Protection ETF - 1 Yr JulyScore 46
  6. Rank 19CTJULInnovator Equity Defined Protection ETFScore 44
  7. Rank 19CZFEBInnovator Equity Defined Protection ETF - 1 Yr FebruaryScore 44

Our read on each fund

ETF.net Research

MAXJAiShares Large Cap Max Buffer Jun ETF

TJULCInnovator Equity Defined Protection ETF

In short

MAXJ No data

TJUL TJUL is the S&P 500 with a full airbag: a 100% downside buffer across a two-year outcome period, paid for with a hard ceiling on the upside. Total protection, not the usual thin slice, is the entire pitch.

Stated mandate

MAXJ No data

TJUL The Fund seeks to track the return of SPDR S&P 500 ETF Trust over the outcome period, subject to a maximum return cap and a 100% downside buffer before fees and expenses.

Why people hold it

MAXJ No data

  • TJUL The buffer goes all the way: the fund aims to absorb 100% of a decline in its S&P 500 reference over the outcome period, before fees and expenses.
  • Upside stays equity shaped. It tracks the SPDR S&P 500 ETF Trust (SPY) over the period up to a cap, so gains follow stocks rather than a fixed rate.
  • Long runway, clear terms: outcome periods run two years, with a new cap set at each reset, so the trade-off is spelled out in the fund's documents before the clock starts.
  • A registered 1940 Act fund holding an options-based defined outcome strategy, so the protection arrives inside a standard ETF wrapper rather than a note or annuity.

Worth knowing

MAXJ No data

  • TJUL Costs 0.79% a year, above the 0.69% charged by the Calamos protection series (CPSJ, CPSM), and the 100% buffer is measured before fees and expenses.
  • The cap is the price of the floor: strong S&P 500 stretches get trimmed at the ceiling, and buying mid-period leaves you with different terms than the stated cap and buffer.
  • Smaller and thinly traded next to plain index ETFs, so bid-ask spreads can widen in fast markets.

Full MAXJ profile⁠

Full TJUL profile⁠

MAXJ vs TJUL Holdings

How MAXJ and TJUL differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of MAXJ and 0.0% of TJUL.

Level by level

  • Holdings0 in both0.0%
  • Sector11 Sectors97.6%
  • Asset classEquity100%
  • Countryby domicile100%

Sector

Sector weights in MAXJ and TJUL, widest gap first
SectorMore in MAXJMore in TJUL
TechnologyTJUL +1.4 points
CommunicationTJUL +0.7 points
FinancialsMAXJ +0.5 points
Health CareMAXJ +0.5 points
EnergyMAXJ +0.5 points
Consumer StaplesMAXJ +0.4 points
Consumer DiscretionaryMAXJ +0.3 points
IndustrialsTJUL +0.2 points
UtilitiesMAXJ +0.1 points
Real EstateMAXJ +0.1 points
MaterialsSame weight

Country, concentration and asset class

Country by domicile

Country weights in MAXJ and TJUL, widest gap first
CountryMore in MAXJMore in TJUL
United StatesMAXJ +0.1 points
SwitzerlandSame weight
ChinaSame weight
MexicoTJUL +0.1 points
IrelandSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • MAXJ103.0%
  • TJUL113.8%

Securities held

  • MAXJ2
  • TJUL3

Asset class

MAXJ
Equity
TJUL
Equity

Holdings

  • Only in MAXJ2
  • In both0
  • Only in TJUL3

Only in MAXJ

2 securities, 100% of MAXJ by weight

  • Ishares Core S&P Etf Trust98.19%
  • JUL27 Ivv Us P @ 748.894.05%

Only in TJUL

3 securities, 100% of TJUL by weight

  • 4SPY Us 06/30/27 C11.12 Flx112.08%
  • 4SPY Us 06/30/27 P617.85 Flx1.51%
  • Us Bank Mmda - Usbgfs 9 09/01/20370.20%

Weight gaps

MAXJ and TJUL share no securities.

All 6 MAXJ holdings⁠All 5 TJUL 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.

MAXJ vs TJUL Cost

Overpaying TJUL vs MAXJ

$4,638

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

  • MAXJ 0.53%

    $10,536

  • TJUL 0.79%

    $15,174

$10,000
30 years

Cost over time

  • MAXJ 0.53%
  • TJUL 0.79%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530TJUL $15,174MAXJ $10,536

Year by year

YearMAXJTJULOverpaying
10$953$1,405$452
20$3,658$5,331$1,673
30$10,536$15,174$4,638

Expense ratio

  • 0.53%MAXJ, cheaper
  • 0.79%TJUL
  • Middle half of S&P 500 Full Protection funds
  • Median 0.69%

MAXJ 6th cheapest of 27 funds

TJUL 21st cheapest of 27 funds

MAXJ vs TJUL Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
MAXJ 0.96%
TJUL No data
Payout (12M)
MAXJ $0.28
TJUL None
Last payment
MAXJ $0.28
TJUL No data
Ex-dividend
MAXJ Dec 23, 2025
TJUL No data
Paid on
MAXJ Dec 29, 2025
TJUL No data
Frequency
MAXJ Annual
TJUL No data

Distribution history

Per share, 2024 to 2026, same scale for both

MAXJAnnual · 2 paymentsAll MAXJ payments⁠
One bar per payment. 2 payments from 2024 to 2026 YTD. Dec 30, 2024 $0.21; Dec 23, 2025 $0.28. Use the arrow keys to read each point.$0$0.252026YTD
TJULAll TJUL payments⁠

No distribution history available.

MAXJ vs TJUL Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
MAXJ 4.1%since Aug 2024TJUL 3.1%
Return per unit of riskSharpe ratio, 3 years
MAXJ 0.88since Aug 2024TJUL 1.17
Worst fallMax drawdown, 5 years
MAXJ −6.3%since Jul 2024TJUL −4.6%since Jul 2023
Market sensitivityBeta, 5 years
MAXJ 0.30TJUL 0.24

MAXJ and TJUL in the news

All news⁠

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