Data as of Nov 4, 2026.
PMFB vs ZFEB: Cap, Buffer & Days Left
As of Nov 4, 2026 PMFB can fall 4.5% before its buffer engages and ZFEB 4.3%.
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Net assets on Nov 4, 2026: $6.1m for PGIM S&P 500 Max Buffer ETF - February and $146m for Innovator Equity Defined Protection ETF - 1 Yr February.
PMFB: reference +10.8% since period start, fund +4.1%; buffer Floor; cap +6.8%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.ZFEB: reference +10.8% since period start, fund +3.9%; buffer Floor; cap +6.4%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PMFB costs 0.29 points a year less; their one-year returns differ by 0.4 points; ZFEB is far larger, $146m against $6.1m.
Points (pts) are percentage points.
| Measure | PMFB | ZFEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.2% | +5.8% |
| Drawdown | ||
| Index fall to the buffer | 9.8% | 9.7% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.50% | 0.79% |
| Net assets | $6.1m | $146m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PMFB | ZFEB | PMFB | ZFEB |
| 3 months | +1.2% | +1.1% | +1.6 pts | +1.5 pts |
| 6 months | +2.6% | +2.4% | −1.9 pts | −2.1 pts |
| 1 year | +6.2% | +5.8% | −7.4 pts | −7.7 pts |
| Since launchPMFB Feb 2025 · ZFEB Feb 2025 | +11.4% | +10.7% | −16.9 pts | −17.5 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
Where each one stands today
PMFB resets first, on Jan 31, 2027, 88 days from now; ZFEB runs to Jan 31, 2027, 88 days. PMFB can still gain 2.1% before its cap, ZFEB 1.8%. A fall from here reaches PMFB’s buffer after 4.5% and ZFEB’s after 4.3%. Both track SPY, so what separates them is where each is in its own period.
PMFB
SPY had already risen past this fund's cap of +6.8% 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 2.1% as the period runs out. The fund's price can fall 4.5% 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. Protection left, in index points: 100.0% of the 100.0% 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.
ZFEB
SPY had already risen past this fund's cap of +6.4% 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 1.8% as the period runs out. The fund's price can fall 4.3% 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.
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, PMFB against ZFEB, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pmfb-vs-zfeb
ETFIQ. (Nov 4, 2026). PMFB against ZFEB. Retrieved from https://etfiq.com/compare/buffer/pmfb-vs-zfeb
[PMFB against ZFEB (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/pmfb-vs-zfeb)
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