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Data as of Nov 4, 2026.

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Buffer ETFs

DJAN vs FEBP: Cap, Buffer & Days Left

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As of Nov 4, 2026 DJAN can fall 12.5% before its buffer engages and FEBP 8.6%, and DJAN resets 16 days sooner.

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Net assets: $459m on Nov 3, 2026 for FT Vest U.S. Equity Deep Buffer ETF - January, and $34m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - February.

DJAN on its own →FEBP on its own →
At a glance
12.5%
DJAN can fall this far before its buffer
8.6%
FEBP can fall this far before its buffer
2.9%
DJAN can still gain
4.4%
FEBP can still gain
DJAN Between buffer and cap
Between buffer and capDJAN: reference +10.8% since period start, fund +7.7%; buffer −5 to −30; cap +11.6%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer+10.8% gain captured−30.0% floor−5.0% buffer start0% period start+11.6% capfirst 5 pts are yours to lose+0.8% more to the capTODAY · SPY +10.8%Between buffer and capDJAN: reference +10.8% since period start, fund +7.7%; buffer −5 to −30; cap +11.6%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer+10.8%−30.0% floor−5.0% buffer start0% start+11.6% capfirst 5 pts are yours to lose+0.8% more to the capTODAY · SPY +10.8%

DJAN: reference +10.8% since period start, fund +7.7%; buffer −5 to −30; cap +11.6%; Between buffer and cap. Data to Nov 4, 2026.

DJAN: reference +10.8% since period start, fund +7.7%; buffer −5 to −30; cap +11.6%; Between buffer and cap. Data to Nov 4, 2026.
FEBP Between buffer and cap
Between buffer and capFEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.12 pts of buffer+10.8% gain captured−12.0% floor0% period start+14.2% cap+3.3% more to the capTODAY · SPY +10.8%Between buffer and capFEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.12 pts+10.8%−12.0% floor0% start+14.2% cap+3.3% more to the capTODAY · SPY +10.8%

FEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.

FEBP: reference +10.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.2%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

FEBP costs 0.35 points a year less; their one-year returns differ by 2.1 points; DJAN is 13.5 times larger.

Points (pts) are percentage points.

DJAN vs FEBP: Cap, Buffer & Days Left
MeasureDJANFEBP
Return
Total return, 1 year+10.8%+12.9%
Drawdown
Index fall to the buffer14.3%9.8%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.50%
Net assets, as of Nov 3, 2026$459m$34m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · FEBP scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score10.1DJAN51.9FEBP

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: DJAN vs FEBP: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDJANFEBPDJANFEBP
3 months+1.5%+1.4%+1.9 pts+1.8 pts
6 months+4.4%+4.8%−0.1 pts+0.3 pts
1 year+10.8%+12.9%−2.8 pts−0.6 pts
3 years+42.7%–−33.7 pts–
Since launchNot the same days: DJAN Jan 2021 · FEBP Feb 2024+55.6%+39.5%−46.9 pts−17.3 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

DJAN FT Vest U.S. Equity Deep Buffer ETF - January · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 11.6%, over a period ending Jan 15, 2027 FEBP PGIM S&P 500 Buffer 12 ETF - February · Absorbs the first 12% of loss on SPY and caps the gain at 14.2%, over a period ending Jan 31, 2027
Issuer First Trust PGIM
Reference index SPY SPY
Buffer 5% to 30% 12%
Outcome period Jan 20, 2026 to Jan 15, 2027 Feb 1, 2026 to Jan 31, 2027
Days left 72 88
Starting cap +11.6% +14.2%
Can still gain 2.9% 4.4%
Fall before buffer 12.5% 8.6%
Protection left, index points 25.0% of 25.0% 12.0% of 12.0%
Index return this period +10.8% +10.8%
Fund return this period +7.7% +8.9%
State today Open Open
Expense ratio 0.85% 0.50%
Net assets, DJAN as of Nov 3, 2026 and FEBP as of Nov 4, 2026 $459m $34m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

DJAN resets first, on Jan 15, 2027, 72 days from now; FEBP runs to Jan 31, 2027, 88 days. DJAN can still gain 2.9% before its cap, FEBP 4.4%. A fall from here reaches DJAN’s buffer after 12.5% and FEBP’s after 8.6%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DJAN

From its price on Nov 4, 2026, the fund can gain about 2.9% more before it reaches its cap. The fund's price can fall 12.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 14.3% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 72 days remained on Nov 4, 2026. On Jan 15, 2027 the period ends and a new cap is set.

FEBP

From its price on Nov 4, 2026, the fund can gain about 4.4% more before it reaches its cap. The fund's price can fall 8.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 9.8% 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. 88 days remained on Nov 4, 2026. On Jan 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DJAN or FEBP?
From their prices on Nov 4, 2026, DJAN can gain about 2.9% before its cap and FEBP about 4.4%, so FEBP has more room left this period.
Which resets first, DJAN or FEBP?
DJAN ends its outcome period on Jan 15, 2027 and FEBP on Jan 31, 2027. A new cap is set the day after each.
Which is cheaper, DJAN or FEBP?
DJAN charges 0.85% a year and FEBP charges 0.50%, so FEBP is cheaper. Fees come from each fund's prospectus.
Other comparisons
DJAN vs FAPRDJAN vs JANMDJAN vs PBFBDJAN vs FEBUFEBP vs GJANFEBP vs PFEBFEBP vs FEBWFEBP vs UFEB
Where to next
State Street® SPDR® S&P 500® ETF Trust →DJAN on its own →FEBP on its own →Method →Standards and sources →
Sources and dates
DJAN filings on SEC EDGAR ↗
First Trust page for DJAN ↗
FEBP filings on SEC EDGAR ↗
PGIM website ↗

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, DJAN against FEBP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/djan-vs-febp

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