IQ

Data as of Nov 4, 2026.

vsOpen in the appCompare their flowsaskIQ about these two fundsAsk the committee about these two funds
Buffer ETFs

DECP vs PDEC: Cap, Buffer & Days Left

Share
Share on XDownload as PDF

As of Nov 4, 2026 DECP can fall 10.6% before its buffer engages and PDEC 10.1%.

askIQ about this page

askIQ about DECP and PDEC

Net assets on Nov 4, 2026: $39m for PGIM S&P 500 Buffer 12 ETF - December and $987m for Innovator U.S. Equity Power Buffer ETF - Dec.

DECP on its own →PDEC on its own →
At a glance
10.6%
DECP can fall this far before its buffer
10.1%
PDEC can fall this far before its buffer
2.8%
DECP can still gain
1.8%
PDEC 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.
PDEC Between buffer and cap
Between buffer and capPDEC: reference +12.2% since period start, fund +10.3%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+12.2% gain captured−15.0% floor0% period start+13.1% cap+1% more to the capTODAY · SPY +12.2%Between buffer and capPDEC: reference +12.2% since period start, fund +10.3%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Nov 4, 2026.15 pts+12.2%−15.0% floor0% start+13.1% cap+1% more to the capTODAY · SPY +12.2%

PDEC: reference +12.2% since period start, fund +10.3%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Nov 4, 2026.

PDEC: reference +12.2% since period start, fund +10.3%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

DECP costs 0.29 points a year less; their one-year returns differ by 1.3 points; PDEC is far larger, $987m against $39m.

Points (pts) are percentage points.

DECP vs PDEC: Cap, Buffer & Days Left
MeasureDECPPDEC
Return
Total return, 1 year+13.5%+12.2%
Drawdown
Index fall to the buffer10.9%10.8%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.79%
Net assets$39m$987m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PDEC scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score23.8DECP30.1PDEC

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 PDEC: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDECPPDECDECPPDEC
3 months+1.7%+1.8%+2.0 pts+2.2 pts
6 months+5.3%+5.1%+0.8 pts+0.6 pts
1 year+13.5%+12.2%−0.1 pts−1.4 pts
3 years–+45.8%–−30.6 pts
Since launchNot the same days: DECP May 2024 · PDEC Dec 2019+34.3%+80.7%−10.5 pts−65.4 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

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 PDEC Innovator U.S. Equity Power Buffer ETF - Dec · Absorbs the first 15% of loss on SPY and caps the gain at 13.1%, over a period ending Nov 30, 2026
Issuer PGIM Innovator
Reference index SPY SPY
Buffer 12% 15%
Outcome period Dec 1, 2025 to Nov 30, 2026 Nov 30, 2025 to Nov 30, 2026
Days left 26 26
Starting cap +14.8% +13.1%
Can still gain 2.8% 1.8%
Fall before buffer 10.6% 10.1%
Protection left, index points 12.0% of 12.0% 15.0% of 15.0%
Index return this period +12.2% +12.2%
Fund return this period +11.3% +10.3%
State today Open Open
Expense ratio 0.50% 0.79%
Net assets $39m $987m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

DECP resets first, on Nov 30, 2026, 26 days from now; PDEC runs to Nov 30, 2026, 26 days. DECP can still gain 2.8% before its cap, PDEC 1.8%. A fall from here reaches DECP’s buffer after 10.6% and PDEC’s after 10.1%. Both track SPY, so what separates them is where each is in its own period.

Alert

DECP and PDEC flows, by email on Sundays.

One-click unsubscribe. See Privacy.

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.

PDEC

From its price on Nov 4, 2026, the fund can gain about 1.8% more before it reaches its cap. The fund's price can fall 10.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.8% 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.

Questions people ask

Which has more room to gain, DECP or PDEC?
From their prices on Nov 4, 2026, DECP can gain about 2.8% before its cap and PDEC about 1.8%, so DECP has more room left this period.
Which resets first, DECP or PDEC?
DECP ends its outcome period on Nov 30, 2026 and PDEC on Nov 30, 2026. A new cap is set the day after each.
Which is cheaper, DECP or PDEC?
DECP charges 0.50% a year and PDEC charges 0.79%, so DECP is cheaper. Fees come from each fund's prospectus.
Other comparisons
DECP vs FNOVDECP vs DNOVDECP vs SQBADECP vs SIXDPDEC vs DECUPDEC vs ZDEKPDEC vs DECWPDEC vs PMDE
Where to next
SPDR S&P 500 ETF Trust →DECP on its own →PDEC on its own →Method →Standards and sources →
Sources and dates
DECP filings on SEC EDGAR ↗
PGIM website ↗
PDEC filings on SEC EDGAR ↗
Innovator page for PDEC ↗

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.

Cite this pageCitation, APA and Markdown

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

Open data →

Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.