Data as of Nov 4, 2026.
PFEB vs XJAN: Cap, Buffer & Days Left
As of Nov 4, 2026 PFEB can fall 7.9% before its buffer engages and XJAN 7.6%, and XJAN resets 16 days sooner.
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Net assets: $884m on Nov 4, 2026 for Innovator U.S. Equity Power Buffer ETF - Feb, and $72m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January.
PFEB: reference +10.8% since period start, fund +7.9%; buffer 0 to −15; cap +12.4%; Between buffer and cap. Data to Nov 4, 2026.
PFEB: reference +10.8% since period start, fund +7.9%; buffer 0 to −15; cap +12.4%; Between buffer and cap. Data to Nov 4, 2026.XJAN: reference +10.8% since period start, fund +7.3%; buffer 0 to −15; cap +9.9%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PFEB costs 0.06 points a year less; their one-year returns differ by 2.1 points; PFEB is 12.3 times larger.
Points (pts) are percentage points.
| Measure | PFEB | XJAN |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.3% | +9.2% |
| Drawdown | ||
| Index fall to the buffer | 9.7% | 9.8% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $883m | $72m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PFEB | XJAN | PFEB | XJAN |
| 3 months | +1.4% | +1.7% | +1.8 pts | +2.0 pts |
| 6 months | +4.4% | +4.3% | −0.1 pts | −0.2 pts |
| 1 year | +11.3% | +9.2% | −2.3 pts | −4.3 pts |
| 3 years | +44.0% | – | −32.4 pts | – |
| Since launchNot the same days: PFEB Feb 2020 · XJAN Jan 2024 | +80.0% | +27.9% | −56.6 pts | −30.7 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. XJAN is a floor fund, which caps how far a holder can fall. PFEB is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
XJAN is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
XJAN resets first, on Jan 15, 2027, 72 days from now; PFEB runs to Jan 31, 2027, 88 days. PFEB can still gain 3.6% before its cap, XJAN 1.7%. A fall from here reaches PFEB’s buffer after 7.9% and XJAN’s after 7.6%. Both track SPY, so what separates them is where each is in its own period.
PFEB
From its price on Nov 4, 2026, the fund can gain about 3.6% more before it reaches its cap. The fund's price can fall 7.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 9.7% 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. 88 days remained on Nov 4, 2026. On Jan 31, 2027 the period ends and a new cap is set.
XJAN
SPY had already risen past this fund's cap of +9.9% 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 1.7% as the period runs out. The fund's price can fall 7.6% 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. 72 days remained on Nov 4, 2026. On Jan 15, 2027 the period ends and a new cap is set.
Questions people ask
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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.
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ETFIQ, PFEB against XJAN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pfeb-vs-xjan
ETFIQ. (Nov 4, 2026). PFEB against XJAN. Retrieved from https://etfiq.com/compare/buffer/pfeb-vs-xjan
[PFEB against XJAN (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/pfeb-vs-xjan)
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