Data as of Nov 4, 2026.
PDEC vs PMDE: Cap, Buffer & Days Left
As of Nov 4, 2026 PDEC can fall 10.1% before its buffer engages and PMDE 5.9%.
askIQ about this page
askIQ about PDEC and PMDE
Net assets on Nov 4, 2026: $987m for Innovator U.S. Equity Power Buffer ETF - Dec and $9.2m for PGIM S&P 500 Max Buffer ETF - December.
PDEC: reference +12.2% since period start, fund +10.3%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Nov 4, 2026.
PDEC: reference +12.2% since period start, fund +10.3%; buffer 0 to −15; cap +13.1%; Between buffer and cap. Data to Nov 4, 2026.PMDE: reference +12.2% since period start, fund +5.7%; buffer Floor; cap +7.0%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PMDE costs 0.29 points a year less; PDEC is far larger, $987m against $9.2m.
Points (pts) are percentage points.
| Measure | PDEC | PMDE |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.2% | not published |
| Drawdown | ||
| Index fall to the buffer | 10.8% | 10.9% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.50% |
| Net assets | $987m | $9.2m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PDEC | PMDE | PDEC | PMDE |
| 3 months | +1.8% | +1.4% | +2.2 pts | +1.8 pts |
| 6 months | +5.1% | +3.1% | +0.6 pts | −1.4 pts |
| 1 year | +12.2% | – | −1.4 pts | – |
| 3 years | +45.8% | – | −30.6 pts | – |
| Since launchNot the same days: PDEC Dec 2019 · PMDE Dec 2025 | +80.7% | +5.8% | −65.4 pts | −7.0 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. PMDE is a floor fund, which caps how far a holder can fall. PDEC is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
PMDE is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
PDEC resets first, on Nov 30, 2026, 26 days from now; PMDE runs to Nov 30, 2026, 26 days. PDEC can still gain 1.8% before its cap, PMDE 0.7%. A fall from here reaches PDEC’s buffer after 10.1% and PMDE’s after 5.9%. Both track SPY, so what separates them is where each is in its own period.
PDEC
From its price on Nov 4, 2026, the fund can gain about 1.8% more before it reaches its cap. The fund's price can fall 10.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.8% 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 SPY level. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and a new cap is set.
PMDE
SPY had already risen past this fund's cap of +7.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.7% as the period runs out. The fund's price can fall 5.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
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, PDEC against PMDE, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pdec-vs-pmde
ETFIQ. (Nov 4, 2026). PDEC against PMDE. Retrieved from https://etfiq.com/compare/buffer/pdec-vs-pmde
[PDEC against PMDE (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/pdec-vs-pmde)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.