Which has more room to gain, PQXX or XBJA?

From their prices on Oct 1, 2026, PQXX can gain about 2.4% before its cap and XBJA about 2.6%, so XBJA has more room left this period.

Which resets first, PQXX or XBJA?

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

Which is cheaper, PQXX or XBJA?

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

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PQXX vs XBJA: which one stands where?

As of Oct 1, 2026 XBJA can fall 8.4% before its buffer engages and PQXX 0.1%. PGIM S&P 500 Quarterly Buffer 20 ETF and Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan.

0.1%

PQXX can fall this far before its buffer

8.4%

XBJA can fall this far before its buffer

2.4%

PQXX can still gain

2.6%

XBJA can still gain

PQXXBetween buffer and cap

PQXX: reference 0.0% since period start, fund 0.0%; buffer 0 to −20; cap +2.5%; Between buffer and cap.

XBJABetween buffer and cap

XBJA: reference +11.8% since period start, fund +8.5%; buffer 0 to −9; cap +11.9%; Between buffer and cap.

These are two different products. XBJA is a floor fund, which caps how far a holder can fall. PQXX 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

PQXX resets first, on Dec 31, 2026, 92 days from now; XBJA runs to Dec 31, 2026, 92 days. PQXX can still gain 2.4% before its cap, XBJA 2.6%. A fall from here reaches PQXX’s buffer after 0.1% and XBJA’s after 8.4%. 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	PQXX	XBJA	PQXX	XBJA
3 months	+2.4%	+2.7%	−0.1 pts	+0.2 pts
6 months	not published	+10.2%	not published	−6.8 pts
1 year	not published	+10.9%	not published	−4.8 pts
3 years	not published	+40.1%	not published	−44.9 pts

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

On the same fields

PQXX

PGIM S&P 500 Quarterly Buffer 20 ETF · Absorbs the first 20% of loss on SPY and caps the gain at 2.5%, over a period ending Dec 31, 2026

XBJA

Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan · Absorbs the first 9% of loss on SPY and caps the gain at 11.9%, over a period ending Dec 31, 2026

Issuer PGIM Innovator

Reference index SPY SPY

Buffer 20% 9%

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

Days left 92 92

Starting cap +2.5% +11.9%

Can still gain 2.4% 2.6%

Fall before buffer 0.1% 8.4%

Protection left, index points 20.0% of 20.0% 9.0% of 9.0%

Index return this period 0.0% +11.8%

Fund return this period 0.0% +8.5%

State today Open Open

Expense ratio 0.50% 0.79%

Net assets $3m $94m

PQXX and XBJA on the same fields, as of Oct 1, 2026. Source: ETFIQ.

PQXX in plain words

From its price on Oct 1, 2026, the fund can gain about 2.4% 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: 20.0% of the 20.0% 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.

XBJA in plain words

From its price on Oct 1, 2026, the fund can gain about 2.6% more before it reaches its cap. The fund's price can fall 8.4% 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: 9.0% of the 9.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, PQXX or XBJA?: From their prices on Oct 1, 2026, PQXX can gain about 2.4% before its cap and XBJA about 2.6%, so XBJA has more room left this period.
Which resets first, PQXX or XBJA?: PQXX ends its outcome period on Dec 31, 2026 and XBJA on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, PQXX or XBJA?: PQXX charges 0.50% a year and XBJA charges 0.79%, so PQXX is cheaper. Fees come from each fund's prospectus.

Other comparisons

PQXX vs CPSD PQXX vs CPST PQXX vs DDEC PQXX vs DDFJ XBJA vs AIOO XBJA vs AJAN XBJA vs BALT XBJA vs BJAN

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

Where these figures came from

PQXX filings on SEC EDGAR ↗PGIM website ↗XBJA filings on SEC EDGAR ↗Innovator page for XBJA ↗

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, PQXX against XBJA, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/pqxx-vs-xbja

Open data

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