Data as of Oct 28, 2026.
DJUL vs PDEC: Cap, Buffer & Days Left
As of Oct 28, 2026 PDEC can fall 10.2% before its buffer engages and DJUL 8.2%, and PDEC resets 228 days sooner.
askIQ about this page
askIQ about DJUL and PDEC
Net assets: $496m on Oct 27, 2026 for FT Vest U.S. Equity Deep Buffer ETF - July, and $988m on Oct 28, 2026 for Innovator U.S. Equity Power Buffer ETF - Dec.
DJUL: reference +3.9% since period start, fund +2.6%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Oct 28, 2026.
DJUL: reference +3.9% since period start, fund +2.6%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Oct 28, 2026.PDEC: reference +12.9% since period start, fund +10.4%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Oct 28, 2026.
PDEC: reference +12.9% since period start, fund +10.4%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Oct 28, 2026.Pair scorecard
PDEC costs 0.06 points a year less; their one-year returns differ by 2.4 points; PDEC is 2.0 times larger.
Points (pts) are percentage points.
| Measure | DJUL | PDEC |
|---|---|---|
| Return | ||
| Total return, 1 year | +9.3% | +11.7% |
| Drawdown | ||
| Index fall to the buffer | 8.6% | 11.4% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.79% |
| Net assets, as of Oct 27, 2026 | $496m | $986m |
| Holdings | ||
| Holdings in common | not published | |
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
A percentile among the 292 buffer ETFs on stocks with a live outcome period. 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 →
Risk and return
Jul 31, 2020 to Oct 23, 2026 · 325 weekly returns · each against SPYPDEC returned slightly more: +73.7% to +68.5%. DJUL swung slightly less: 7.6% to 7.9%. PDEC fell slightly less at its worst: −11.1% to −12.2%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | DJUL | PDEC | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +68.5% | +73.7% | PDEC (slight) | Price change plus distributions, reinvested. | |
| Annualized | +8.7% | +9.2% | PDEC (slight) | Total return as a yearly rate. | |
| Price return | +68.5% | +73.7% | PDEC (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 7.6% | 7.9% | DJUL (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 5.0% | 5.2% | DJUL (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −12.2% | −11.1% | PDEC (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 34.6% | 36.2% | 100.0% | PDEC (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 51.5% | 52.8% | 100.0% | DJUL (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.44 | 0.47 | 1.00 | DJUL lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.86 | 0.88 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 0.72 | 0.76 | PDEC (slight) | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.10 | 1.16 | PDEC (slight) | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.124 | 0.128 | 0.130 | PDEC (slight) | Return above Treasury bills per unit of beta. |
| Calmar | 0.71 | 0.84 | PDEC | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | −0.3% a year | −0.1% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | −0.24 | −0.10 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.6% to +2.0% | −2.3% to +2.0% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.81 | −0.79 | PDEC (slight) | Return against its benchmark per unit of tracking error. | |
| Tracking error | 9.3% | 8.8% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 325 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DJUL | PDEC | DJUL | PDEC |
| 3 months | +3.4% | +4.3% | −2.5 pts | −1.6 pts |
| 6 months | +5.5% | +6.6% | −3.0 pts | −1.9 pts |
| 1 year | +9.3% | +11.7% | −3.1 pts | −0.7 pts |
| 3 years | +55.1% | +51.9% | −32.9 pts | −36.1 pts |
| Since launchNot the same days: DJUL Jul 2020 · PDEC Dec 2019 | +70.0% | +80.9% | −68.2 pts | −66.9 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 Oct 28, 2026. Source: ETFIQ.
They do not reset together. PDEC has 33 days of its period left and DJUL has 261, so the two are not the same bet on the same months.
Where each one stands today
PDEC resets first, on Nov 30, 2026, 33 days from now; DJUL runs to Jul 16, 2027, 261 days. DJUL can still gain 9.9% before its cap, PDEC 1.7%. A fall from here reaches DJUL’s buffer after 8.2% and PDEC’s after 10.2%. Both track SPY, so what separates them is where each is in its own period.
DJUL and PDEC are built for the same job. How do they differ in cost, holdings and results?
- Protection and cap. DJUL: Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 13.6%, over a period ending Jul 16, 2027. PDEC: Absorbs the first 15% of loss on SPY and caps the gain at 13.1%, over a period ending Nov 30, 2026. The starting caps are 0.5 points apart.
- Outcome period. DJUL runs Jul 20, 2026 to Jul 16, 2027 with 261 days left; PDEC runs Nov 30, 2025 to Nov 30, 2026 with 33 days left.
- One-year total return. Over 1 year to Oct 28, 2026 DJUL returned +9.3% and PDEC +11.7% with distributions reinvested, a gap of 2.4 points.
Data as of Oct 28, 2026.
The two-page PDF for this pair is coming. Save the comparison to follow its changes. Free. It needs an email sign-in, once.
DJUL
From its price on Oct 28, 2026, the fund can gain about 9.9% more before it reaches its cap. The fund's price can fall 8.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 8.6% 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. 261 days remained on Oct 28, 2026. On Jul 16, 2027 the period ends and a new cap is set.
PDEC
From its price on Oct 28, 2026, the fund can gain about 1.7% more before it reaches its cap. The fund's price can fall 10.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 11.4% 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. 33 days remained on Oct 28, 2026. On Nov 30, 2026 the period ends and a new cap is set.
Questions people ask
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, DJUL against PDEC, data as of Oct 28, 2026. https://etfiq.com/compare/buffer/djul-vs-pdec
ETFIQ. (Oct 28, 2026). DJUL against PDEC. Retrieved from https://etfiq.com/compare/buffer/djul-vs-pdec
[DJUL against PDEC (ETFIQ, Oct 28, 2026)](https://etfiq.com/compare/buffer/djul-vs-pdec)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.