Data as of .
JANP vs JANU: which one stands where?
As of Sep 21, 2026 JANU can fall 9.6% before its buffer engages and JANP 9.1%, and JANP resets 1 days sooner.
ETFIQ Downside Cover Score: JANP scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it · How it is computed
Where each one stands today
JANP resets first, on Dec 31, 2026, 101 days from now; JANU runs to Dec 31, 2026, 102 days. A fall from here reaches JANP’s buffer after 9.1% and JANU’s after 9.6%. 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 | ||
|---|---|---|---|---|
| JANP | JANU | JANP | JANU | |
| 3 months | +2.5% | +0.7% | +0.2 pts | −1.6 pts |
| 6 months | +11.9% | +11.6% | −6.1 pts | −6.5 pts |
| 1 year | +12.8% | +10.8% | −3.7 pts | −5.8 pts |
| JANP PGIM S&P 500 Buffer 12 ETF - January Absorbs the first 12% of loss on SPY and caps the gain at 13.9%, over a period ending Dec 31, 2026 | JANU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Jan Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Dec 31, 2026 | |
|---|---|---|
| Issuer | PGIM | AllianzIM |
| Reference index | SPY | SPY |
| Buffer | 12% | 15% |
| Outcome period | Jan 1, 2026 to Dec 31, 2026 | Jan 1, 2026 to Dec 31, 2026 |
| Days left | 101 | 102 |
| Starting cap | +13.9% | uncapped |
| Can still gain | 3.6% | uncapped |
| Fall before buffer | 9.1% | 9.6% |
| Protection left, index points | 12.0% of 12.0% | 15.0% of 15.0% |
| Index return this period | +13.5% | +13.5% |
| Fund return this period | +9.5% | +9.7% |
| State today | Open | Uncapped |
| Expense ratio | 0.50% | 0.74% |
| Net assets | $51m | $78m |
JANP in plain words
From its price on Sep 21, 2026, the fund can gain about 3.6% 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 figure. In index terms, SPY can fall 11.9% 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. 101 days remained on Sep 21, 2026. On Dec 31, 2026 the period ends and a new cap is set.
JANU in plain words
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 102 days remained on Sep 21, 2026.
Questions people ask
- Which resets first, JANP or JANU?
- JANP ends its outcome period on Dec 31, 2026 and JANU on Dec 31, 2026. A new cap is set the day after each.
- Which is cheaper, JANP or JANU?
- JANP charges 0.50% a year and JANU charges 0.74%, so JANP 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, JANP against JANU, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/janp-vs-janu Free to use with attribution; the underlying files are at Open data.