Data as of .
NOCT vs PQOC: which one stands where?
As of Sep 21, 2026 PQOC can fall 13.8% before its buffer engages and NOCT 12.5%.
ETFIQ Downside Cover Score: NOCT 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
NOCT resets first, on Sep 30, 2026, 9 days from now; PQOC runs to Sep 30, 2026, 9 days. NOCT can still gain 0.1% before its cap, PQOC 0.3%. A fall from here reaches NOCT’s buffer after 12.5% and PQOC’s after 13.8%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| NOCT | PQOC | NOCT | PQOC | |
| 3 months | +3.0% | +3.3% | +5.4 pts | +5.8 pts |
| 6 months | +13.6% | +16.0% | −10.7 pts | −8.2 pts |
| 1 year | +13.5% | +15.6% | −8.3 pts | −6.2 pts |
| 3 years | +51.3% | not published | −46.9 pts | not published |
| NOCT Innovator Growth-100 Power Buffer ETF - Oct Absorbs the first 15% of loss on QQQ and caps the gain at 14.3%, over a period ending Sep 30, 2026 | PQOC PGIM Nasdaq-100 Buffer 12 ETF - October Absorbs the first 12% of loss on QQQ and caps the gain at 16.3%, over a period ending Sep 30, 2026 | |
|---|---|---|
| Issuer | Innovator | PGIM |
| Reference index | QQQ | QQQ |
| Buffer | 15% | 12% |
| Outcome period | Sep 30, 2025 to Sep 30, 2026 | Oct 1, 2025 to Sep 30, 2026 |
| Days left | 9 | 9 |
| Starting cap | +14.3% | +16.3% |
| Can still gain | 0.1% | 0.3% |
| Fall before buffer | 12.5% | 13.8% |
| Protection left, index points | 15.0% of 15.0% | 12.0% of 12.0% |
| Index return this period | +23.4% | +23.4% |
| Fund return this period | +13.3% | +15.4% |
| State today | At cap | At cap |
| Expense ratio | 0.79% | 0.50% |
| Net assets | $228m | $26m |
NOCT in plain words
QQQ had already risen past this fund's cap of +14.3% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.1% as the period runs out. The fund's price can fall 12.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 18.9% 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. 9 days remained on Sep 21, 2026. On Sep 30, 2026 the period ends and a new cap is set.
PQOC in plain words
QQQ had already risen past this fund's cap of +16.3% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.3% as the period runs out. The fund's price can fall 13.8% 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, NOCT or PQOC?
- From their prices on Sep 21, 2026, NOCT can gain about 0.1% before its cap and PQOC about 0.3%, so PQOC has more room left this period.
- Which resets first, NOCT or PQOC?
- NOCT ends its outcome period on Sep 30, 2026 and PQOC on Sep 30, 2026. A new cap is set the day after each.
- Which is cheaper, NOCT or PQOC?
- NOCT charges 0.79% a year and PQOC charges 0.50%, so PQOC 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, NOCT against PQOC, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/noct-vs-pqoc Free to use with attribution; the underlying files are at Open data.