Data as of Nov 4, 2026.
DDFL vs PMJL: Cap, Buffer & Days Left
As of Nov 4, 2026 DDFL can fall 2.8% before its buffer engages and PMJL 2.1%.
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Net assets on Nov 4, 2026: $160m for Innovator Equity Dual Directional 15 Buffer ETF - Jul and $7.0m for PGIM S&P 500 Max Buffer ETF - July.
DDFL: reference +2.6% since period start, fund +2.6%; buffer 0 to −15; cap +10.9%; Between buffer and cap. Data to Nov 4, 2026.
DDFL: reference +2.6% since period start, fund +2.6%; buffer 0 to −15; cap +10.9%; Between buffer and cap. Data to Nov 4, 2026.PMJL: reference +2.7% since period start, fund +1.7%; buffer Floor; cap +8.0%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PMJL costs 0.29 points a year less; their one-year returns differ by 1.6 points; DDFL is far larger, $160m against $7.0m.
Points (pts) are percentage points.
| Measure | DDFL | PMJL |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.3% | +5.7% |
| Drawdown | ||
| Index fall to the buffer | 2.6% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.50% |
| Net assets | $160m | $7.0m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DDFL | PMJL | DDFL | PMJL |
| 3 months | +1.1% | +0.7% | +1.5 pts | +1.1 pts |
| 6 months | +3.5% | +2.5% | −1.0 pts | −2.0 pts |
| 1 year | +7.3% | +5.7% | −6.2 pts | −7.8 pts |
| Since launchDDFL Jul 2025 · PMJL Jul 2025 | +10.8% | +8.3% | −13.3 pts | −15.9 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. PMJL is a floor fund, which caps how far a holder can fall. DDFL is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
DDFL resets first, on Jun 30, 2027, 238 days from now; PMJL runs to Jun 30, 2027, 238 days. DDFL can still gain 7.8% before its cap, PMJL 5.7%. A fall from here reaches DDFL’s buffer after 2.8% and PMJL’s after 2.1%. Both track SPY, so what separates them is where each is in its own period.
DDFL
From its price on Nov 4, 2026, the fund can gain about 7.8% more before it reaches its cap. The fund's price can fall 2.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.6% 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. 238 days remained on Nov 4, 2026. On Jun 30, 2027 the period ends and a new cap is set.
PMJL
From its price on Nov 4, 2026, the fund can gain about 5.7% more before it reaches its cap. The fund's price can fall 2.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
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.
Cite this pageCitation, APA and Markdown
ETFIQ, DDFL against PMJL, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfl-vs-pmjl
ETFIQ. (Nov 4, 2026). DDFL against PMJL. Retrieved from https://etfiq.com/compare/buffer/ddfl-vs-pmjl
[DDFL against PMJL (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ddfl-vs-pmjl)
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