At a glance
QJUN charges 0.9% a year, above the 0.86% average of the 7 funds most like it (the 6th cheapest of 8). It has $715.2M in assets, the 8th largest of that group. Over the past year it returned +6.9% with distributions reinvested (S&P 500: +11.5%), the weakest of those 8 funds; over three years it returned +16.4% a year. At its worst it fell 19.0% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 7 months after the low.
The short version
FT Vest Nasdaq-100 Buffer ETF – June (QJUN) is a First Trust fund that holds FLEX options on the Invesco QQQ Trust, which tracks the Nasdaq-100 Index. Over each June-to-June outcome period, it aims to absorb the first 10% of QQQ's price loss. In exchange, gains are capped; the cap was 18.21% before fees for the period ending June 18, 2026. It pays no dividends and charges 0.90% a year.
Price history
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QJUN +6.9% over the year to Oct 27, 2026, total return with distributions reinvested.
How it has behaved
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | Since start | |
|---|---|---|---|---|---|---|
| QJUN official prospectus, to Dec 31, 2024 | — | +16.47% | — | — | — | +10.27% |
| QJUN price data to Oct 27, 2026 | +5.9% | +6.9% | +16.4% | +9.9% | — | +10.2% |
- Over the year to Oct 27, 2026, QJUN returned +6.9%, 8th of 8 among similar funds.
- Its 5-year annualized return was +9.9%.
- Its worst full calendar year was 2022 (-17.3%); its best was 2023 (+36.3%).
- The deepest fall in its price history was 19.9% (Dec 27, 2021 to Oct 14, 2022), recovered by May 18, 2023.
Show as a table
| Year | Price data | Prospectus (official) |
|---|---|---|
| 2026 (to date) | +5.9% | — |
| 2025 | +13.6% | — |
| 2024 | +16.4% | +16.47% |
| 2023 | +36.3% | +36.06% |
| 2022 | -17.3% | -17.27% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 19% over that stretch · deepest drop along the way 19%, back to its old high 7.2 months after the low |
What's inside
As of Aug 31, 2026, the fund held 0 securities; the ten largest made up 0% of assets.
| Holding | Weight |
|---|
By country
By asset type
What changed recently
- Over the three months to Aug 31, 2026, investors added a net $81.5M (creations minus redemptions, per the N-PORT report).
- Monthly total returns reported for that quarter: +0.09%, -3.91%, +3.30%.
How it works
The fund doesn't own stocks directly. Under normal conditions it puts substantially all of its assets into FLEX options. These are exchange-traded option contracts whose strike prices and expiration dates can be customized. Every option references the Invesco QQQ Trust, a unit investment trust that holds all the stocks in the Nasdaq-100 Index: 100 of the largest non-financial companies listed on Nasdaq. As of August 31, 2026, the fund held 12 option positions making up about 99% of assets, with about 1% in cash. Vest Financial is the sub-advisor.
The options are set for an outcome period of about one year. From June 23, 2025 through June 18, 2026, the fund sought to match QQQ's price return up to a cap of 18.21% and to absorb the first 10% of losses. After the fund's fees, those figures were 17.31% and 9.10%. Beyond a 10% drop, losses pass through one-for-one. If QQQ falls 20%, the fund falls about 10% before fees. Returns follow QQQ's price only, so QQQ's dividends are not included.
At each June reset, the fund buys a new set of options. The buffer stays at 10%, but the cap is reset based on market conditions at the time. Investors who buy after a period starts, or sell before it ends, may get very different results. The fund's value can also differ widely from QQQ's partway through a period.
What it really costs
- QJUN charges 0.9% a year, versus an average of 0.86% for the similar funds below (6th of 8, cheapest first).
Structure and tax notes
- Organized as a unit investment trust: it cannot lend out its securities or reinvest dividends between payouts, which can create a small drag versus similar open-end ETFs.
- Uses options to limit losses within a range (the buffer) in exchange for a cap on gains over each outcome period; results depend on when you buy relative to the period start.
In a retirement portfolio
It offers a cushioned way to own a concentrated group of large Nasdaq growth stocks, which fits better as a smaller position beside broader holdings than as a core.
QJUN may soften the swings of owning Nasdaq-100 stocks. As of October 27, 2026, its one-year volatility was 10.3% and its beta was 0.7. Beta measures how much a fund moves with the broad market, and 0.7 means it moved less. The fund launched in June 2021, so it has no record from the 2008 or 2020 crashes. In the 2022 bear market it fell 19%. Its deepest drop was 19.9%, from December 2021 to October 2022. That is more than the 10% buffer, because the buffer applies only over a full outcome period. The fund recovered by May 18, 2023, about seven months later. Its worst calendar year was 2022, at -17.3%. Anyone who had to sell shares in late 2022 would have locked in losses.
The fund pays no income. Its 0.90% expense ratio is above the 0.86% average for similar buffer funds. Past results don't predict the future, and a plan should look at the whole portfolio, not one fund.
Who it may suit — and who should look elsewhere
May suit
- Investors wanting Nasdaq-100 exposure through customized options on Invesco QQQ Trust, with a buffer against the first 10% of losses each outcome period.
- Patient investors who can buy at the June reset and hold a full year; the cap and buffer apply only to full-period holders.
- Investors seeking a calmer growth-stock ride: one-year volatility was 10.3% and beta, a market-sensitivity gauge, was 0.7 as of October 27, 2026.
Look elsewhere if
- Those wanting full Nasdaq-100 gains or income: upside is capped (18.21% before fees for June 2025 to June 2026) and QQQ dividends are forgone.
- Anyone needing deep downside protection: losses beyond the first 10% pass through; the fund lost 17.3% in 2022 and fell 19.9% peak to trough.
- Cost-conscious investors: the 0.9% expense ratio tops the 0.86% average of similar buffer funds; Innovator's PJAN and PDEC charge 0.79%.
Close alternatives
Matched by other buffer (defined-outcome) funds, largest first.
| Fund | Cost | Net assets | 1 yr | 3 yr |
|---|---|---|---|---|
| QJUN this fund | 0.9% | $715.2M | +6.9% | +16.4% |
| BUFR FT Vest Laddered Buffer ETF | 0.95% | $10.49B | +11.6% | +16.8% |
| BUFD FT Vest Laddered Deep Buffer ETF | 0.95% | $2.04B | +9.5% | +13.9% |
| PJAN Innovator U.S. Equity Power Buffer ETF - Ja… | 0.79% | $1.44B | +10.5% | +14.8% |
| PDEC Innovator U.S. Equity Power Buffer ETF - De… | 0.79% | $984.1M | +11.6% | +14.9% |
| FDEC FT Vest US Equity Buffer ETF - December | 0.85% | $1.31B | +12.9% | +18.5% |
| FJAN FT Vest US Equity Buffer ETF - January | 0.85% | $1.47B | +12.3% | +17.4% |
| FFEB FT Vest U.S. Equity Buffer Fund - February | 0.85% | $1.42B | +12.9% | +18.6% |
Questions investors ask
Does QJUN pay dividends?
No. The fund has recorded no distributions. It holds FLEX options on the Invesco QQQ Trust rather than the stocks themselves, and the prospectus says its performance will not reflect QQQ's dividend payments. Investors therefore miss the dividends a direct QQQ holder would collect. That is part of the price of the buffer. Anyone who needs regular cash payouts from a holding would have to sell shares to raise it.
How does the QJUN buffer work?
Over each one-year outcome period, the fund's options aim to absorb the first 10% of QQQ's price decline. If QQQ falls more than 10%, the fund takes the remaining losses one-for-one. In exchange, gains are capped. For June 23, 2025 through June 18, 2026, the cap was 18.21% before fees. After fees, the cap was 17.31% and the buffer was 9.10%. The buffer stays at 10% each year, but the cap resets every June.
What's the difference between QJUN and FJAN?
Both are First Trust buffer ETFs sub-advised by Vest, but they track different markets. QJUN's options reference the Nasdaq-100 through QQQ and reset each June. As its name suggests, FJAN (FT Vest US Equity Buffer ETF – January) is built on U.S. stocks more broadly and resets in January. FJAN costs 0.85% a year, compared with QJUN's 0.90%. As of October 27, 2026, FJAN returned 12.3% over one year, compared with QJUN's 6.9%. Over three years it returned 17.4% a year, compared with QJUN's 16.4%.
Is QJUN a good investment for retirement?
It depends on the role it plays. QJUN may suit retirees who want some Nasdaq-100 growth exposure with a cushion against modest losses. It pays no income, though, and the buffer doesn't cover large declines. It fell 19.9% between December 2021 and October 2022 and needed about seven months to recover. According to its prospectus, its average annual return since launch was 10.27% as of December 31, 2024. Its 0.90% fee is above the peer average.
What happens if I buy QJUN in the middle of the outcome period?
You may get results quite different from the stated cap and buffer. Both are set against the fund's value on the first day of each period. If the fund has already risen, less upside may be left before the cap. If it has fallen, part of the buffer may already be used up. The fund's website discloses where the fund stands relative to its cap and buffer, and it's worth checking that before buying mid-period.