Data as of .
DJAN vs PMFB: which one stands where?
As of Sep 21, 2026 DJAN can fall 12.1% before its buffer engages and PMFB 4.0%, and DJAN resets 16 days sooner.
These are two different products. PMFB is a floor fund, which caps how far a holder can fall. DJAN 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
DJAN resets first, on Jan 15, 2027, 116 days from now; PMFB runs to Jan 31, 2027, 132 days. DJAN can still gain 3.5% before its cap, PMFB 2.6%. A fall from here reaches DJAN’s buffer after 12.1% and PMFB’s after 4.0%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| DJAN | PMFB | DJAN | PMFB | |
| 3 months | +2.2% | +1.5% | −0.1 pts | −0.8 pts |
| 6 months | +9.7% | +4.4% | −8.4 pts | −13.7 pts |
| 1 year | +10.7% | +6.1% | −5.8 pts | −10.4 pts |
| 3 years | +40.8% | not published | −37.6 pts | not published |
| 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 | PMFB PGIM S&P 500 Max Buffer ETF - February Absorbs the whole loss on SPY and caps the gain at 6.8%, over a period ending Jan 31, 2027 | |
|---|---|---|
| Issuer | First Trust | PGIM |
| Reference index | SPY | SPY |
| Buffer | 5% to 30% | 100% |
| Outcome period | Jan 20, 2026 to Jan 15, 2027 | Feb 1, 2026 to Jan 31, 2027 |
| Days left | 116 | 132 |
| Starting cap | +11.6% | +6.8% |
| Can still gain | 3.5% | 2.6% |
| Fall before buffer | 12.1% | 4.0% |
| Protection left, index points | 25.0% of 25.0% | 100.0% of 100.0% |
| Index return this period | +11.9% | +11.8% |
| Fund return this period | +7.1% | +3.6% |
| State today | At cap | At cap |
| Expense ratio | 0.85% | 0.50% |
| Net assets | $481m | $6m |
DJAN in plain words
SPY had already risen past this fund's cap of +11.6% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.5% as the period runs out. The fund's price can fall 12.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.1% 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. 116 days remained on Sep 21, 2026. On Jan 15, 2027 the period ends and a new cap is set.
PMFB in plain words
SPY had already risen past this fund's cap of +6.8% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.6% as the period runs out. The fund's price can fall 4.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 132 days remained on Sep 21, 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 PMFB?
- From their prices on Sep 21, 2026, DJAN can gain about 3.5% before its cap and PMFB about 2.6%, so DJAN has more room left this period.
- Which resets first, DJAN or PMFB?
- DJAN ends its outcome period on Jan 15, 2027 and PMFB on Jan 31, 2027. A new cap is set the day after each.
- Which is cheaper, DJAN or PMFB?
- DJAN charges 0.85% a year and PMFB charges 0.50%, so PMFB is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DJAN against PMFB, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/djan-vs-pmfb Free to use with attribution; the underlying files are at Open data.