NJAN vs PQJA: which one stands where?

As of Oct 1, 2026 PQJA can fall 11.5% before its buffer engages and NJAN 10.3%. Innovator Growth-100 Power Buffer ETF - Jan and PGIM Nasdaq-100 Buffer 12 ETF - January.

10.3%
NJAN can fall this far before its buffer
11.5%
PQJA can fall this far before its buffer
3.0%
NJAN can still gain
3.5%
PQJA can still gain
NJANAt its cap
At its capNJAN: reference +20.4% since period start, fund +10.7%; buffer 0 to −15; cap +14.7%; At its cap.15 pts of buffer+14.7% gain captured−15.0% floor0% period start+14.7% capTODAY · QQQ +20.4%At its capNJAN: reference +20.4% since period start, fund +10.7%; buffer 0 to −15; cap +14.7%; At its cap.15 pts+14.7%−15.0% floor0% start+14.7% capTODAY · QQQ +20.4%

NJAN: reference +20.4% since period start, fund +10.7%; buffer 0 to −15; cap +14.7%; At its cap.

PQJAAt its cap
At its capPQJA: reference +20.4% since period start, fund +12.5%; buffer 0 to −12; cap +16.9%; At its cap.12 pts of buffer+16.9% gain captured−12.0% floor0% period start+16.9% capTODAY · QQQ +20.4%At its capPQJA: reference +20.4% since period start, fund +12.5%; buffer 0 to −12; cap +16.9%; At its cap.12 pts+16.9% gained−12.0% floor0% start+16.9% capTODAY · QQQ +20.4%

PQJA: reference +20.4% since period start, fund +12.5%; buffer 0 to −12; cap +16.9%; At its cap.

ETFIQ Downside Cover Score · NJAN scores higherIf the market falls into a bear market from here, how much does the buffer absorb?
0.2, the lowest in this set99.8, the highest

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 →

Both are already at their cap, so neither gains from more rise in the index before the period ends.

Where each one stands today

NJAN resets first, on Dec 31, 2026, 92 days from now; PQJA runs to Dec 31, 2026, 92 days. NJAN can still gain 3.0% before its cap, PQJA 3.5%. A fall from here reaches NJAN’s buffer after 10.3% and PQJA’s after 11.5%. Both track QQQ, 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

Total returnGap to the reference
WindowNJANPQJANJANPQJA
3 months+3.3%+3.8%+1.1 pts+1.7 pts
6 months+12.7%+15.1%−14.2 pts−11.8 pts
1 year+14.1%+16.8%−9.7 pts−7.0 pts
3 years+49.5%not published−60.4 ptsnot published

NJAN and PQJA over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

NJAN
Innovator Growth-100 Power Buffer ETF - Jan · Absorbs the first 15% of loss on QQQ and caps the gain at 14.7%, over a period ending Dec 31, 2026
PQJA
PGIM Nasdaq-100 Buffer 12 ETF - January · Absorbs the first 12% of loss on QQQ and caps the gain at 16.9%, over a period ending Dec 31, 2026
Issuer Innovator PGIM
Reference index QQQ QQQ
Buffer 15% 12%
Outcome period Dec 31, 2025 to Dec 31, 2026 Jan 1, 2026 to Dec 31, 2026
Days left 92 92
Starting cap +14.7% +16.9%
Can still gain 3.0% 3.5%
Fall before buffer 10.3% 11.5%
Protection left, index points 15.0% of 15.0% 12.0% of 12.0%
Index return this period +20.4% +20.4%
Fund return this period +10.7% +12.5%
State today At cap At cap
Expense ratio 0.79% 0.50%
Net assets $348m $34m

NJAN and PQJA on the same fields, as of Oct 1, 2026. Source: ETFIQ.

NJAN in plain words

QQQ had already risen past this fund's cap of +14.7% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.0% as the period runs out. The fund's price can fall 10.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 17.0% 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 QQQ level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

PQJA in plain words

QQQ had already risen past this fund's cap of +16.9% for the period on Oct 1, 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 11.5% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's QQQ level.

Questions people ask

Which has more room to gain, NJAN or PQJA?
From their prices on Oct 1, 2026, NJAN can gain about 3.0% before its cap and PQJA about 3.5%, so PQJA has more room left this period.
Which resets first, NJAN or PQJA?
NJAN ends its outcome period on Dec 31, 2026 and PQJA on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, NJAN or PQJA?
NJAN charges 0.79% a year and PQJA charges 0.50%, so PQJA is cheaper. Fees come from each fund's prospectus.
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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. A comparison is not a recommendation.

Cite this page

ETFIQ, NJAN against PQJA, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/njan-vs-pqja

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.