Which has more room to gain, PQX or XDEC?

From their prices on Oct 1, 2026, PQX can gain about 3.3% before its cap and XDEC about 1.7%, so PQX has more room left this period.

Which resets first, PQX or XDEC?

PQX ends its outcome period on Dec 31, 2026 and XDEC on Dec 18, 2026. A new cap is set the day after each.

Which is cheaper, PQX or XDEC?

PQX charges 0.50% a year and XDEC charges 0.85%, so PQX is cheaper. Fees come from each fund's prospectus.

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PQX vs XDEC: which one stands where?

As of Oct 1, 2026 XDEC can fall 7.7% before its buffer engages and PQX 0.1%, and XDEC resets 13 days sooner. PGIM S&P 500 Quarterly Buffer 10 ETF and FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December.

0.1%

PQX can fall this far before its buffer

7.7%

XDEC can fall this far before its buffer

3.3%

PQX can still gain

1.7%

XDEC can still gain

PQXBetween buffer and cap

PQX: reference 0.0% since period start, fund 0.0%; buffer 0 to −10; cap +3.5%; Between buffer and cap.

XDECAt its cap

XDEC: reference +12.0% since period start, fund +7.4%; buffer 0 to −15; cap +10.1%; At its cap.

These are two different products. XDEC is a floor fund, which caps how far a holder can fall. PQX is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

XDEC is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

XDEC resets first, on Dec 18, 2026, 79 days from now; PQX runs to Dec 31, 2026, 92 days. PQX can still gain 3.3% before its cap, XDEC 1.7%. A fall from here reaches PQX’s buffer after 0.1% and XDEC’s after 7.7%. 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	PQX	XDEC	PQX	XDEC
3 months	+2.1%	+2.4%	−0.5 pts	−0.2 pts
6 months	not published	+8.2%	not published	−8.8 pts
1 year	not published	+9.3%	not published	−6.5 pts
3 years	not published	+33.2%	not published	−51.8 pts

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

On the same fields

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

XDEC

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - December · Absorbs the first 15% of loss on SPY and caps the gain at 10.1%, over a period ending Dec 18, 2026

Issuer PGIM First Trust

Reference index SPY SPY

Buffer 10% 15%

Outcome period Oct 1, 2026 to Dec 31, 2026 Dec 22, 2025 to Dec 18, 2026

Days left 92 79

Starting cap +3.5% +10.1%

Can still gain 3.3% 1.7%

Fall before buffer 0.1% 7.7%

Protection left, index points 10.0% of 10.0% 15.0% of 15.0%

Index return this period 0.0% +12.0%

Fund return this period 0.0% +7.4%

State today Open At cap

Expense ratio 0.50% 0.85%

Net assets $5m $208m

PQX and XDEC on the same fields, as of Oct 1, 2026. Source: ETFIQ.

PQX in plain words

From its price on Oct 1, 2026, the fund can gain about 3.3% 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. Protection left, in index points: 10.0% of the 10.0% 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.

XDEC in plain words

SPY had already risen past this fund's cap of +10.1% for the period on Oct 1, 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 7.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.7% 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. 79 days remained on Oct 1, 2026. On Dec 18, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, PQX or XDEC?: From their prices on Oct 1, 2026, PQX can gain about 3.3% before its cap and XDEC about 1.7%, so PQX has more room left this period.
Which resets first, PQX or XDEC?: PQX ends its outcome period on Dec 31, 2026 and XDEC on Dec 18, 2026. A new cap is set the day after each.
Which is cheaper, PQX or XDEC?: PQX charges 0.50% a year and XDEC charges 0.85%, so PQX is cheaper. Fees come from each fund's prospectus.

Other comparisons

PQX vs BOCT PQX vs CPSD PQX vs CPST PQX vs DDEC XDEC vs CPSY XDEC vs DDEC XDEC vs DDFJ XDEC vs DDSQ

SPDR S&P 500 ETF Trust →PQX on its own →XDEC on its own →How every figure is computed →Standards and sources →

Where these figures came from

PQX filings on SEC EDGAR ↗PGIM website ↗XDEC filings on SEC EDGAR ↗First Trust page for XDEC ↗

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, PQX against XDEC, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/pqx-vs-xdec

Open data

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