Which has more room to gain, BJAN or PQX?

From their prices on Oct 1, 2026, BJAN can gain about 5.3% before its cap and PQX about 3.3%, so BJAN has more room left this period.

Which resets first, BJAN or PQX?

BJAN ends its outcome period on Dec 31, 2026 and PQX on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, BJAN or PQX?

BJAN charges 0.79% a year and PQX charges 0.50%, so PQX is cheaper. Fees come from each fund's prospectus.

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BJAN vs PQX: which one stands where?

As of Oct 1, 2026 BJAN can fall 9.6% before its buffer engages and PQX 0.1%. Innovator U.S. Equity Buffer ETF - Jan and PGIM S&P 500 Quarterly Buffer 10 ETF.

9.6%

BJAN can fall this far before its buffer

0.1%

PQX can fall this far before its buffer

5.3%

BJAN can still gain

3.3%

PQX can still gain

BJANBetween buffer and cap

BJAN: reference +11.8% since period start, fund +9.9%; buffer 0 to −9; cap +16.5%; Between buffer and cap.

PQXBetween buffer and cap

PQX: reference 0.0% since period start, fund 0.0%; buffer 0 to −10; cap +3.5%; Between buffer and cap.

ETFIQ Downside Cover Score · PQX scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

BJAN 16.2

PQX 34.3

0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

Where each one stands today

BJAN resets first, on Dec 31, 2026, 92 days from now; PQX runs to Dec 31, 2026, 92 days. BJAN can still gain 5.3% before its cap, PQX 3.3%. A fall from here reaches BJAN’s buffer after 9.6% and PQX’s after 0.1%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	BJAN	PQX	BJAN	PQX
3 months	+2.9%	+2.1%	+0.4 pts	−0.5 pts
6 months	+12.6%	not published	−4.4 pts	not published
1 year	+14.2%	not published	−1.5 pts	not published
3 years	+64.7%	not published	−20.2 pts	not published

BJAN and PQX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

BJAN

Innovator U.S. Equity Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 16.5%, over a period ending Dec 31, 2026

PQX

PGIM S&P 500 Quarterly Buffer 10 ETF · Absorbs the first 10% of loss on SPY and caps the gain at 3.5%, over a period ending Dec 31, 2026

Issuer Innovator PGIM

Reference index SPY SPY

Buffer 9% 10%

Outcome period Dec 31, 2025 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026

Days left 92 92

Starting cap +16.5% +3.5%

Can still gain 5.3% 3.3%

Fall before buffer 9.6% 0.1%

Protection left, index points 9.0% of 9.0% 10.0% of 10.0%

Index return this period +11.8% 0.0%

Fund return this period +9.9% 0.0%

State today Open Open

Expense ratio 0.79% 0.50%

Net assets $349m $5m

BJAN and PQX on the same fields, as of Oct 1, 2026. Source: ETFIQ.

BJAN in plain words

From its price on Oct 1, 2026, the fund can gain about 5.3% more before it reaches its cap. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

PQX in plain words

From its price on Oct 1, 2026, the fund can gain about 3.3% more before it reaches its cap. The fund's price can fall 0.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BJAN or PQX?: From their prices on Oct 1, 2026, BJAN can gain about 5.3% before its cap and PQX about 3.3%, so BJAN has more room left this period.
Which resets first, BJAN or PQX?: BJAN ends its outcome period on Dec 31, 2026 and PQX on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, BJAN or PQX?: BJAN charges 0.79% a year and PQX charges 0.50%, so PQX is cheaper. Fees come from each fund's prospectus.

Other comparisons

BJAN vs ZJAN BJAN vs AIOO BJAN vs BALT BJAN vs BJUL PQX vs PMOC PQX vs POCT PQX vs PQXV PQX vs PQXX

SPY →BJAN on its own →PQX on its own →How every figure is computed →Standards and sources →

Where these figures came from

BJAN filings on SEC EDGAR ↗Innovator page for BJAN ↗PQX filings on SEC EDGAR ↗PGIM website ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, BJAN against PQX, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/bjan-vs-pqx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.