Data as of Nov 4, 2026.
PMNV vs UNOV: Cap, Buffer & Days Left
As of Nov 4, 2026 UNOV can fall 5.7% before its buffer engages and PMNV 0.9%.
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Net assets on Nov 4, 2026: $5.6m for PGIM S&P 500 Max Buffer ETF - November and $112m for Innovator U.S. Equity Ultra Buffer ETF - Nov.
PMNV: reference +1.5% since period start, fund +0.4%; buffer Floor; cap +8.3%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.UNOV: reference +1.4% since period start, fund +0.7%; buffer −5 to −35; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.
UNOV: reference +1.4% since period start, fund +0.7%; buffer −5 to −35; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
PMNV costs 0.29 points a year less; their one-year returns differ by 4.4 points; UNOV is far larger, $112m against $5.6m.
Points (pts) are percentage points.
| Measure | PMNV | UNOV |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.9% | +11.3% |
| Drawdown | ||
| Index fall to the buffer | 1.4% | 6.3% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.50% | 0.79% |
| Net assets | $5.6m | $112m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PMNV | UNOV | PMNV | UNOV |
| 3 months | +1.9% | +2.6% | +2.3 pts | +3.0 pts |
| 6 months | +3.8% | +5.7% | −0.7 pts | +1.2 pts |
| 1 year | +6.9% | +11.3% | −6.6 pts | −2.2 pts |
| 3 years | – | +38.3% | – | −38.1 pts |
| Since launchNot the same days: PMNV Nov 2025 · UNOV Nov 2019 | +6.8% | +63.5% | −5.4 pts | −87.0 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. PMNV is a floor fund, which caps how far a holder can fall. UNOV is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
PMNV resets first, on Oct 31, 2027, 361 days from now; UNOV runs to Oct 31, 2027, 361 days. PMNV can still gain 7.4% before its cap, UNOV 13.6%. A fall from here reaches PMNV’s buffer after 0.9% and UNOV’s after 5.7%. Both track SPY, so what separates them is where each is in its own period.
PMNV
From its price on Nov 4, 2026, the fund can gain about 7.4% more before it reaches its cap. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% 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. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.
UNOV
From its price on Nov 4, 2026, the fund can gain about 13.6% more before it reaches its cap. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.3% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.
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, PMNV against UNOV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pmnv-vs-unov
ETFIQ. (Nov 4, 2026). PMNV against UNOV. Retrieved from https://etfiq.com/compare/buffer/pmnv-vs-unov
[PMNV against UNOV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/pmnv-vs-unov)
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