Which has more room to gain, DDFJ or JANP?

From their prices on Nov 4, 2026, DDFJ can gain about 1.3% before its cap and JANP about 3.1%, so JANP has more room left this period.

Which resets first, DDFJ or JANP?

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

Which is cheaper, DDFJ or JANP?

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

Data as of Nov 4, 2026.

Buffer ETFs

DDFJ vs JANP: Cap, Buffer & Days Left

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As of Nov 4, 2026 JANP can fall 9.6% before its buffer engages and DDFJ 7.1%.

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Net assets on Nov 4, 2026: $70m for Innovator Equity Dual Directional 15 Buffer ETF - Jan and $58m for PGIM S&P 500 Buffer 12 ETF - January.

DDFJ on its own →JANP on its own →

At a glance

7.1%

DDFJ can fall this far before its buffer

9.6%

JANP can fall this far before its buffer

1.3%

DDFJ can still gain

3.1%

JANP can still gain

DDFJ At its cap

DDFJ: reference +12.4% since period start, fund +6.9%; buffer 0 to −15; cap +9.0%; At its cap. Data to Nov 4, 2026.

JANP Between buffer and cap

JANP: reference +12.4% since period start, fund +10.0%; buffer 0 to −12; cap +13.9%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

JANP costs 0.29 points a year less; DDFJ is 1.2 times larger.

Points (pts) are percentage points.

DDFJ vs JANP: Cap, Buffer & Days Left
Measure	DDFJ	JANP
Return
Measure	DDFJ	JANP
Total return, 1 year	not published	+12.6%
Drawdown
Measure	DDFJ	JANP
Index fall to the buffer	11.0%	11.1%
Benchmark
Measure	DDFJ	JANP
What it tracks	SPY	SPY
Cost and size
Measure	DDFJ	JANP
Expense ratio	0.79%	0.50%
Net assets	$70m	$58m
Holdings
Measure	DDFJ	JANP
Holdings in common	not published

Method

Window by window

Window by window: DDFJ vs JANP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DDFJ	JANP	DDFJ	JANP
3 months	+1.3%	+1.6%	+1.7 pts	+2.0 pts
6 months	+3.6%	+5.0%	−0.9 pts	+0.6 pts
1 year	–	+12.6%	–	−0.9 pts
Since launchNot the same days: DDFJ Jan 2026 · JANP Jan 2024	+6.4%	+44.3%	−5.8 pts	−18.0 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →

Side by side

DDFJ Innovator Equity Dual Directional 15 Buffer ETF - Jan · Absorbs the first 15% of loss on SPY and caps the gain at 9.0%, over a period ending Dec 31, 2026 JANP PGIM S&P 500 Buffer 12 ETF - January · Absorbs the first 12% of loss on SPY and caps the gain at 13.9%, over a period ending Dec 31, 2026

Issuer Innovator PGIM

Reference index SPY SPY

Buffer 15% 12%

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

Days left 57 57

Starting cap +9.0% +13.9%

Can still gain 1.3% 3.1%

Fall before buffer 7.1% 9.6%

Protection left, index points 15.0% of 15.0% 12.0% of 12.0%

Index return this period +12.4% +12.4%

Fund return this period +6.9% +10.0%

State today At cap Open

Expense ratio 0.79% 0.50%

Net assets $70m $58m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. JANP is a floor fund, which caps how far a holder can fall. DDFJ is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

DDFJ is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

DDFJ resets first, on Dec 31, 2026, 57 days from now; JANP runs to Dec 31, 2026, 57 days. DDFJ can still gain 1.3% before its cap, JANP 3.1%. A fall from here reaches DDFJ’s buffer after 7.1% and JANP’s after 9.6%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

DDFJ

SPY had already risen past this fund's cap of +9.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.3% as the period runs out. The fund's price can fall 7.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.0% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

JANP

From its price on Nov 4, 2026, the fund can gain about 3.1% 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 number. In index terms, SPY can fall 11.1% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, DDFJ or JANP?: From their prices on Nov 4, 2026, DDFJ can gain about 1.3% before its cap and JANP about 3.1%, so JANP has more room left this period.
Which resets first, DDFJ or JANP?: DDFJ ends its outcome period on Dec 31, 2026 and JANP on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, DDFJ or JANP?: DDFJ charges 0.79% a year and JANP charges 0.50%, so JANP is cheaper. Fees come from each fund's prospectus.

Other comparisons

DDFJ vs JANT DDFJ vs SQMX DDFJ vs CPSD DDFJ vs DECM JANP vs QBSF JANP vs PBJA JANP vs JANU JANP vs JANT

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DDFJ on its own →JANP on its own →Method →Standards and sources →

Sources and dates

DDFJ filings on SEC EDGAR ↗

Innovator page for DDFJ ↗

JANP filings on SEC EDGAR ↗

PGIM website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every number is an ETFIQ calculation with distributions reinvested.

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ETFIQ, DDFJ against JANP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfj-vs-janp

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