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Data as of Nov 4, 2026.

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Buffer ETFs

DECP vs FHDG: Cap, Buffer & Days Left

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As of Nov 4, 2026 DECP can fall 10.6% before its buffer engages and FHDG 1.1%, and FHDG resets 10 days sooner.

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Net assets: $39m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - December, and $70m on Nov 3, 2026 for FT Vest U.S. Equity Quarterly Dynamic Buffer ETF.

DECP on its own →FHDG on its own →
At a glance
10.6%
DECP can fall this far before its buffer
1.1%
FHDG can fall this far before its buffer
2.8%
DECP can still gain
2.8%
FHDG can still gain
DECP Between buffer and cap
Between buffer and capDECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.12 pts of buffer+12.2% gain captured−12.0% floor0% period start+14.8% cap+2.6% more to the capTODAY · SPY +12.2%Between buffer and capDECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.12 pts+12.2%−12.0% floor0% start+14.8% cap+2.6% more to the capTODAY · SPY +12.2%

DECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.

DECP: reference +12.2% since period start, fund +11.3%; buffer 0 to −12; cap +14.8%; Between buffer and cap. Data to Nov 4, 2026.
FHDG Between buffer and cap
Between buffer and capFHDG: reference +0.1% since period start, fund +0.9%; buffer 0 to −7; cap +3.9%; Between buffer and cap. Data to Nov 4, 2026.7.5 pts of buffer−7.5% floor0% period start+3.9% cap+0.1% gain captured+3.8% more to the capTODAY · SPY +0.1%Between buffer and capFHDG: reference +0.1% since period start, fund +0.9%; buffer 0 to −7; cap +3.9%; Between buffer and cap. Data to Nov 4, 2026.7.5 pts−7.5% floor0% start+3.9% cap+0.1% gain captured+3.8% more to the capTODAY · SPY +0.1%

FHDG: reference +0.1% since period start, fund +0.9%; buffer 0 to −7; cap +3.9%; Between buffer and cap. Data to Nov 4, 2026.

FHDG: reference +0.1% since period start, fund +0.9%; buffer 0 to −7; cap +3.9%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

DECP costs 0.35 points a year less; their one-year returns differ by 1.3 points; FHDG is 1.8 times larger.

Points (pts) are percentage points.

DECP vs FHDG: Cap, Buffer & Days Left
MeasureDECPFHDG
Return
Total return, 1 year+13.5%+12.2%
Drawdown
Index fall to the buffer10.9%0.1%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.85%
Net assets, as of Nov 3, 2026$38m$70m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · DECP scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score23.8DECP10.4FHDG

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Window by window

Window by window: DECP vs FHDG: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDECPFHDGDECPFHDG
3 months+1.7%+0.9%+2.0 pts+1.3 pts
6 months+5.3%+4.6%+0.8 pts+0.1 pts
1 year+13.5%+12.2%−0.1 pts−1.4 pts
Since launchNot the same days: DECP May 2024 · FHDG Nov 2024+34.3%+22.3%−10.5 pts−8.1 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

DECP PGIM S&P 500 Buffer 12 ETF - December · Absorbs the first 12% of loss on SPY and caps the gain at 14.8%, over a period ending Nov 30, 2026 FHDG FT Vest U.S. Equity Quarterly Dynamic Buffer ETF · Absorbs the first 8% of loss on SPY and caps the gain at 3.9%, over a period ending Nov 20, 2026
Issuer PGIM First Trust
Reference index SPY SPY
Buffer 12% 8%
Outcome period Dec 1, 2025 to Nov 30, 2026 Aug 24, 2026 to Nov 20, 2026
Days left 26 16
Starting cap +14.8% +3.9%
Can still gain 2.8% 2.8%
Fall before buffer 10.6% 1.1%
Protection left, index points 12.0% of 12.0% 7.5% of 7.5%
Index return this period +12.2% +0.1%
Fund return this period +11.3% +0.9%
State today Open Open
Expense ratio 0.50% 0.85%
Net assets, DECP as of Nov 4, 2026 and FHDG as of Nov 3, 2026 $39m $70m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

FHDG resets first, on Nov 20, 2026, 16 days from now; DECP runs to Nov 30, 2026, 26 days. DECP can still gain 2.8% before its cap, FHDG 2.8%. A fall from here reaches DECP’s buffer after 10.6% and FHDG’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DECP

From its price on Nov 4, 2026, the fund can gain about 2.8% more before it reaches its cap. The fund's price can fall 10.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% 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. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and a new cap is set.

FHDG

The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.1% from today's level to the point where the buffer begins. Protection left, in index points: 7.5% of the 7.5% buffer still sits below today's SPY level. 16 days remained on Nov 4, 2026. On Nov 20, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DECP or FHDG?
From their prices on Nov 4, 2026, DECP can gain about 2.8% before its cap and FHDG about 2.8%, so the two have the same room left this period.
Which resets first, DECP or FHDG?
DECP ends its outcome period on Nov 30, 2026 and FHDG on Nov 20, 2026. A new cap is set the day after each.
Which is cheaper, DECP or FHDG?
DECP charges 0.50% a year and FHDG charges 0.85%, so DECP is cheaper. Fees come from each fund's prospectus.
Other comparisons
DECP vs DECUDECP vs CPSDDECP vs DLNVDECP vs DNOVFHDG vs UDECFHDG vs GNOVFHDG vs SIXDFHDG vs SQBA
Where to next
SPDR S&P 500 ETF Trust →DECP on its own →FHDG on its own →Method →Standards and sources →
Sources and dates
DECP filings on SEC EDGAR ↗
PGIM website ↗
FHDG filings on SEC EDGAR ↗
First Trust page for FHDG ↗

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

How this is computed

It is a place in a set, not a rating or a recommendation.

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, DECP against FHDG, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/decp-vs-fhdg

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