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Data as of Nov 4, 2026.

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Buffer ETFs

FEBP vs FJAN: Cap, Buffer & Days Left

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As of Nov 4, 2026 FJAN can fall 9.1% before its buffer engages and FEBP 8.6%, and FJAN resets 16 days sooner.

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Net assets: $34m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - February, and $1.5bn on Nov 3, 2026 for FT Vest U.S. Equity Buffer ETF - January.

FEBP on its own →FJAN on its own →
At a glance
8.6%
FEBP can fall this far before its buffer
9.1%
FJAN can fall this far before its buffer
4.4%
FEBP can still gain
4.3%
FJAN can still gain
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.
FJAN Between buffer and cap
Between buffer and capFJAN: reference +10.8% since period start, fund +9.1%; buffer 0 to −10; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+10.8% gain captured−10.0% floor0% period start+14.5% cap+3.7% more to the capTODAY · SPY +10.8%Between buffer and capFJAN: reference +10.8% since period start, fund +9.1%; buffer 0 to −10; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts+10.8%−10.0% floor0% start+14.5% cap+3.7% more to the capTODAY · SPY +10.8%

FJAN: reference +10.8% since period start, fund +9.1%; buffer 0 to −10; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.

FJAN: reference +10.8% since period start, fund +9.1%; buffer 0 to −10; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

FEBP costs 0.35 points a year less; both returned +12.9% over a year; FJAN is far larger, $1.5bn against $34m.

Points (pts) are percentage points.

FEBP vs FJAN: Cap, Buffer & Days Left
MeasureFEBPFJAN
Return
Total return, 1 year+12.9%+12.9%
Drawdown
Index fall to the buffer9.8%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.85%
Net assets, as of Nov 3, 2026$34m$1.5bn
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 Score51.9FEBP38.7FJAN

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: FEBP vs FJAN: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowFEBPFJANFEBPFJAN
3 months+1.4%+1.3%+1.8 pts+1.7 pts
6 months+4.8%+4.9%+0.3 pts+0.4 pts
1 year+12.9%+12.9%−0.6 pts−0.7 pts
3 years–+54.1%–−22.3 pts
Since launchNot the same days: FEBP Feb 2024 · FJAN Jan 2021+39.5%+88.2%−17.3 pts−14.3 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

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 FJAN FT Vest U.S. Equity Buffer ETF - January · Absorbs the first 10% of loss on SPY and caps the gain at 14.5%, over a period ending Jan 15, 2027
Issuer PGIM First Trust
Reference index SPY SPY
Buffer 12% 10%
Outcome period Feb 1, 2026 to Jan 31, 2027 Jan 20, 2026 to Jan 15, 2027
Days left 88 72
Starting cap +14.2% +14.5%
Can still gain 4.4% 4.3%
Fall before buffer 8.6% 9.1%
Protection left, index points 12.0% of 12.0% 10.0% of 10.0%
Index return this period +10.8% +10.8%
Fund return this period +8.9% +9.1%
State today Open Open
Expense ratio 0.50% 0.85%
Net assets, FEBP as of Nov 4, 2026 and FJAN as of Nov 3, 2026 $34m $1.5bn

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

FJAN resets first, on Jan 15, 2027, 72 days from now; FEBP runs to Jan 31, 2027, 88 days. FEBP can still gain 4.4% before its cap, FJAN 4.3%. A fall from here reaches FEBP’s buffer after 8.6% and FJAN’s after 9.1%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
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.

FJAN

From its price on Nov 4, 2026, the fund can gain about 4.3% more before it reaches its cap. The fund's price can fall 9.1% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 10.0% of the 10.0% 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.

Questions people ask

Which has more room to gain, FEBP or FJAN?
From their prices on Nov 4, 2026, FEBP can gain about 4.4% before its cap and FJAN about 4.3%, so FEBP has more room left this period.
Which resets first, FEBP or FJAN?
FEBP ends its outcome period on Jan 31, 2027 and FJAN on Jan 15, 2027. A new cap is set the day after each.
Which is cheaper, FEBP or FJAN?
FEBP charges 0.50% a year and FJAN charges 0.85%, so FEBP is cheaper. Fees come from each fund's prospectus.
Other comparisons
FEBP vs FEBWFEBP vs PBFBFEBP vs JANMFEBP vs CPSYFJAN vs JANMFJAN vs PBFBFJAN vs FEBUFJAN vs SIXF
Where to next
SPDR S&P 500 ETF Trust →FEBP on its own →FJAN on its own →Method →Standards and sources →
Sources and dates
FEBP filings on SEC EDGAR ↗
PGIM website ↗
FJAN filings on SEC EDGAR ↗
First Trust page for FJAN ↗

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

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