Data as of Nov 4, 2026.

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Buffer ETFs

PQX vs QBSV: Cap, Buffer & Days Left

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As of Nov 4, 2026 QBSV can fall 0.9% before its buffer engages and PQX 0.8%.

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Net assets: $8.7m on Nov 4, 2026 for PGIM S&P 500 Quarterly Buffer 10 ETF, and $28m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer5 ETF - Jan.

At a glance
0.8%
PQX can fall this far before its buffer
0.9%
QBSV can fall this far before its buffer
2.7%
PQX can still gain
4.2%
QBSV can still gain
PQX Between buffer and cap
Between buffer and capPQX: reference +0.6% since period start, fund +0.6%; buffer 0 to −10; cap +3.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+2.9% to cap−10.0% floor0% period start+3.5% cap+0.6% gain capturedTODAY · SPY +0.6%Between buffer and capPQX: reference +0.6% since period start, fund +0.6%; buffer 0 to −10; cap +3.5%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer−10.0% floor0% start+3.5% cap+0.6% gain captured+2.9% more to the capTODAY · SPY +0.6%

PQX: reference +0.6% since period start, fund +0.6%; buffer 0 to −10; cap +3.5%; Between buffer and cap. Data to Nov 4, 2026.

PQX: reference +0.6% since period start, fund +0.6%; buffer 0 to −10; cap +3.5%; Between buffer and cap. Data to Nov 4, 2026.
QBSV Between buffer and cap
Between buffer and capQBSV: reference +0.5% since period start, fund +0.7%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Data to Nov 4, 2026.5 pts of buffer+4.6% more to the cap−5.0% floor0% period start+5.1% cap+0.5% gain capturedTODAY · SPY +0.5%Between buffer and capQBSV: reference +0.5% since period start, fund +0.7%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Data to Nov 4, 2026.5 pts−5.0% floor0% start+5.1% cap+0.5% gain captured+4.6% more to the capTODAY · SPY +0.5%

QBSV: reference +0.5% since period start, fund +0.7%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Data to Nov 4, 2026.

QBSV: reference +0.5% since period start, fund +0.7%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PQX costs 0.14 points a year less; QBSV is 3.2 times larger.

Points (pts) are percentage points.

PQX vs QBSV: Cap, Buffer & Days Left
MeasurePQXQBSV
Drawdown
Index fall to the buffer0.5%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.64%
Net assets, as of Nov 3, 2026$8.7m$28m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PQX scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score38.7PQX4.1QBSV

How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed

0.3, the lowest in this set 99.7, the highest

Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →

Method

Window by window

Window by window: PQX vs QBSV: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowPQXQBSVPQXQBSV
3 months+0.9%+0.5%+1.3 pts+0.9 pts
6 months–+3.9%–−0.6 pts
Since launchNot the same days: PQX Jul 2026 · QBSV Apr 2026+2.5%+8.6%−0.3 pts−8.5 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

PQX PGIM S&P 500 Quarterly Buffer 10 ETF · Absorbs the first 10% of loss on SPY and caps the gain at 3.5%, over a period ending Dec 31, 2026 QBSV AllianzIM U.S. Equity Buffer5 ETF - Jan · Absorbs the first 5% of loss on SPY and caps the gain at 5.1%, over a period ending Dec 31, 2026
Reference index SPY SPY
Buffer 10% 5%
Outcome period Oct 1, 2026 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026
Days left 57 57
Starting cap +3.5% +5.1%
Can still gain 2.7% 4.2%
Fall before buffer 0.8% 0.9%
Protection left, index points 10.0% of 10.0% 5.0% of 5.0%
Index return this period +0.6% +0.5%
Fund return this period +0.6% +0.7%
State today Open Open
Expense ratio 0.50% 0.64%
Net assets, PQX as of Nov 4, 2026 and QBSV as of Nov 3, 2026 $8.7m $28m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

PQX resets first, on Dec 31, 2026, 57 days from now; QBSV runs to Dec 31, 2026, 57 days. PQX can still gain 2.7% before its cap, QBSV 4.2%. A fall from here reaches PQX’s buffer after 0.8% and QBSV’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
PQX

From its price on Nov 4, 2026, the fund can gain about 2.7% more before it reaches its cap. The fund's price can fall 0.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.

QBSV

From its price on Nov 4, 2026, the fund can gain about 4.2% 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. Protection left, in index points: 5.0% of the 5.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, PQX or QBSV?
From their prices on Nov 4, 2026, PQX can gain about 2.7% before its cap and QBSV about 4.2%, so QBSV has more room left this period.
Which resets first, PQX or QBSV?
PQX ends its outcome period on Dec 31, 2026 and QBSV on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, PQX or QBSV?
PQX charges 0.50% a year and QBSV charges 0.64%, so PQX is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

It is a place in a set, not a rating or a recommendation.

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, PQX against QBSV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pqx-vs-qbsv

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