Data as of Nov 4, 2026.

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Buffer ETFs

EALT vs PQXX: Cap, Buffer & Days Left

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As of Nov 4, 2026 EALT can fall 5.6% before its buffer engages and PQXX 0.6%.

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Net assets on Nov 4, 2026: $189m for Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly and $3.6m for PGIM S&P 500 Quarterly Buffer 20 ETF.

At a glance
5.6%
EALT can fall this far before its buffer
0.6%
PQXX can fall this far before its buffer
6.4%
EALT can still gain
1.9%
PQXX can still gain
EALT Between buffer and cap
Between buffer and capEALT: reference +0.5% since period start, fund +0.5%; buffer −5 to −15; cap +7.0%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+6.5% to cap−15.0% floor−5.0% buffer start0% period start+7.0% capfirst 5 pts are yours to lose+0.5% gain capturedTODAY · SPY +0.5%Between buffer and capEALT: reference +0.5% since period start, fund +0.5%; buffer −5 to −15; cap +7.0%; Between buffer and cap. Data to Nov 4, 2026.10 pts−15.0% floor−5.0% buffer start0% start+7.0% capfirst 5 pts are yours to lose+0.5% gain captured+6.5% more to the capTODAY · SPY +0.5%

EALT: reference +0.5% since period start, fund +0.5%; buffer −5 to −15; cap +7.0%; Between buffer and cap. Data to Nov 4, 2026.

EALT: reference +0.5% since period start, fund +0.5%; buffer −5 to −15; cap +7.0%; Between buffer and cap. Data to Nov 4, 2026.
PQXX Between buffer and cap
Between buffer and capPQXX: reference +0.6% since period start, fund +0.5%; buffer 0 to −20; cap +2.5%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer−20.0% floor0% period start+2.5% cap+0.6% gain captured+2% more to the capTODAY · SPY +0.6%Between buffer and capPQXX: reference +0.6% since period start, fund +0.5%; buffer 0 to −20; cap +2.5%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer−20.0% floor0% start+2.5% cap+0.6% gain captured+2% more to the capTODAY · SPY +0.6%

PQXX: reference +0.6% since period start, fund +0.5%; buffer 0 to −20; cap +2.5%; Between buffer and cap. Data to Nov 4, 2026.

PQXX: reference +0.6% since period start, fund +0.5%; buffer 0 to −20; cap +2.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PQXX costs 0.19 points a year less; EALT is far larger, $189m against $3.6m.

Points (pts) are percentage points.

EALT vs PQXX: Cap, Buffer & Days Left
MeasureEALTPQXX
Return
Total return, 1 year+5.0%not published
Drawdown
Index fall to the buffer5.5%0.5%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.69%0.50%
Net assets$189m$3.6m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PQXX scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score38.7EALT98.8PQXX

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: EALT vs PQXX: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowEALTPQXXEALTPQXX
3 months0.0%+1.4%+0.4 pts+1.7 pts
6 months+3.9%–−0.6 pts–
1 year+5.0%–−8.6 pts–
3 years+40.9%–−35.5 pts–
Since launchNot the same days: EALT Oct 2023 · PQXX Jul 2026+43.3%+2.4%−36.1 pts−0.4 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

EALT Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly · Absorbs losses from 5.0% to 15.0% on SPY and caps the gain at 7.0%, over a period ending Dec 31, 2026 PQXX PGIM S&P 500 Quarterly Buffer 20 ETF · Absorbs the first 20% of loss on SPY and caps the gain at 2.5%, over a period ending Dec 31, 2026
Reference index SPY SPY
Buffer 5% to 15% 20%
Outcome period Sep 30, 2026 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026
Days left 57 57
Starting cap +7.0% +2.5%
Can still gain 6.4% 1.9%
Fall before buffer 5.6% 0.6%
Protection left, index points 10.0% of 10.0% 20.0% of 20.0%
Index return this period +0.5% +0.6%
Fund return this period +0.5% +0.5%
State today Open Open
Expense ratio 0.69% 0.50%
Net assets $189m $3.6m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

EALT resets first, on Dec 31, 2026, 57 days from now; PQXX runs to Dec 31, 2026, 57 days. EALT can still gain 6.4% before its cap, PQXX 1.9%. A fall from here reaches EALT’s buffer after 5.6% and PQXX’s after 0.6%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
EALT

From its price on Nov 4, 2026, the fund can gain about 6.4% more before it reaches its cap. The fund's price can fall 5.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 5.5% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

PQXX

From its price on Nov 4, 2026, the fund can gain about 1.9% more before it reaches its cap. The fund's price can fall 0.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, EALT or PQXX?
From their prices on Nov 4, 2026, EALT can gain about 6.4% before its cap and PQXX about 1.9%, so EALT has more room left this period.
Which resets first, EALT or PQXX?
EALT ends its outcome period on Dec 31, 2026 and PQXX on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, EALT or PQXX?
EALT charges 0.69% a year and PQXX charges 0.50%, so PQXX is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

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, EALT against PQXX, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ealt-vs-pqxx

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