Which has more room to gain, PJAN or PQXV?

From their prices on Oct 1, 2026, PJAN can gain about 3.4% before its cap and PQXV about 2.7%, so PJAN has more room left this period.

Which resets first, PJAN or PQXV?

PJAN ends its outcome period on Dec 31, 2026 and PQXV on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, PJAN or PQXV?

PJAN charges 0.79% a year and PQXV charges 0.50%, so PQXV is cheaper. Fees come from each fund's prospectus.

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PJAN vs PQXV: which one stands where?

As of Oct 1, 2026 PJAN can fall 8.0% before its buffer engages and PQXV 0.1%. Innovator U.S. Equity Power Buffer ETF - Jan and PGIM S&P 500 Quarterly Buffer 15 ETF.

8.0%

PJAN can fall this far before its buffer

0.1%

PQXV can fall this far before its buffer

3.4%

PJAN can still gain

2.7%

PQXV can still gain

PJANBetween buffer and cap

PJAN: reference +11.8% since period start, fund +8.0%; buffer 0 to −15; cap +12.3%; Between buffer and cap.

PQXVBetween buffer and cap

PQXV: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +2.8%; Between buffer and cap.

ETFIQ Downside Cover Score · PQXV scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

PJAN 54.1

PQXV 83.8

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 →

Where each one stands today

PJAN resets first, on Dec 31, 2026, 92 days from now; PQXV runs to Dec 31, 2026, 92 days. PJAN can still gain 3.4% before its cap, PQXV 2.7%. A fall from here reaches PJAN’s buffer after 8.0% and PQXV’s after 0.1%. 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

	Total return		Gap to the reference
Window	PJAN	PQXV	PJAN	PQXV
3 months	+2.4%	+2.1%	−0.1 pts	−0.4 pts
6 months	+9.7%	not published	−7.3 pts	not published
1 year	+10.8%	not published	−5.0 pts	not published
3 years	+45.8%	not published	−39.2 pts	not published

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

On the same fields

PJAN

Innovator U.S. Equity Power Buffer ETF - Jan · Absorbs the first 15% of loss on SPY and caps the gain at 12.3%, over a period ending Dec 31, 2026

PQXV

PGIM S&P 500 Quarterly Buffer 15 ETF · Absorbs the first 15% of loss on SPY and caps the gain at 2.8%, over a period ending Dec 31, 2026

Issuer Innovator PGIM

Reference index SPY SPY

Buffer 15% 15%

Outcome period Dec 31, 2025 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026

Days left 92 92

Starting cap +12.3% +2.8%

Can still gain 3.4% 2.7%

Fall before buffer 8.0% 0.1%

Protection left, index points 15.0% of 15.0% 15.0% of 15.0%

Index return this period +11.8% 0.0%

Fund return this period +8.0% 0.0%

State today Open Open

Expense ratio 0.79% 0.50%

Net assets $1.4bn $3m

PJAN and PQXV on the same fields, as of Oct 1, 2026. Source: ETFIQ.

PJAN in plain words

From its price on Oct 1, 2026, the fund can gain about 3.4% more before it reaches its cap. The fund's price can fall 8.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.6% 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. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

PQXV in plain words

From its price on Oct 1, 2026, the fund can gain about 2.7% more before it reaches its cap. The fund's price can fall 0.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins.

Questions people ask

Which has more room to gain, PJAN or PQXV?: From their prices on Oct 1, 2026, PJAN can gain about 3.4% before its cap and PQXV about 2.7%, so PJAN has more room left this period.
Which resets first, PJAN or PQXV?: PJAN ends its outcome period on Dec 31, 2026 and PQXV on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, PJAN or PQXV?: PJAN charges 0.79% a year and PQXV charges 0.50%, so PQXV is cheaper. Fees come from each fund's prospectus.

Other comparisons

PJAN vs DDEC PJAN vs DDFJ PJAN vs DDSQ PJAN vs DDTJ PQXV vs AIOO PQXV vs AJAN PQXV vs AOCT PQXV vs APOC

SPY →PJAN on its own →PQXV on its own →How every figure is computed →Standards and sources →

Where these figures came from

PJAN filings on SEC EDGAR ↗Innovator page for PJAN ↗PQXV filings on SEC EDGAR ↗PGIM website ↗

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, PJAN against PQXV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/pjan-vs-pqxv

Open data

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