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PQJA vs PQOC

PGIM Nasdaq-100 Buffer 12 ETF - January

PQJABNasdaq

PGIM Nasdaq-100 Buffer 12 ETF - October

PQOCBNasdaq

Overlap

Expense ratio

Same figure. Both funds show the same value, so neither comes out ahead.

PQJA0.50%PQOC0.50%

Avg volume · 30D

PQOC 1.3×the volume

PQJA5.11KPQOC6.77K

PQJA vs PQOC Performance

Oct 31, 2025 – Oct 30, 2026

+12.5%PQJA+9.2%PQOC

Oct 31, 2025 to Oct 30, 2026. PQJA +12.5%. PQOC +9.2%. Use the arrow keys to read each point.−5%0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
PQJA 0.50%
PQOC 0.50%
Fund size
PQJA $35M
PQOC $29M
1Y total return
PQJA +12.5%, better
PQOC +9.2%
Holdings
PQJA 4
PQOC 4
Avg volume (30D)
PQJA 5.11K sh
PQOC 6.77K sh, better
NAV per share
PQJA $32.65
PQOC $31.87
52W range

ETF.net Grade

PQJA: Cost 76, Risk 62, Mission not scored, Tradability 39, Holdings not scored, Durability 49. PQOC: Cost 76, Risk 56, Mission 94, Tradability 42, Holdings not scored, Durability 49.
Pillar letters and Scores for PQJA, PQOC, with each pillar’s weight
PillarPQJAPQOC
Cost30% weightA76A76
Mission25% weightNot scoredA94
Risk15% weightB62HigherB56
Tradability15% weightD39C42Higher
Holdings10% weightNot scoredNot scored
Durability5% weightC49C49

Rank among Nasdaq-100 Buffer 9-12% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. PQJA and PQOC are both graded against the same 12 Nasdaq-100 Buffer 9-12% funds, so their Grades compare head to head.

Nasdaq-100 Buffer 9-12%⁠

Category · 12 funds
See all 12 ›

PQJA ranks 2nd and PQOC 4th of 12 funds in the Nasdaq-100 Buffer 9-12% Category.

  1. Rank 1BPQAPPGIM Nasdaq-100 Buffer 12 ETF - AprilScore 66
  2. Rank 2BPQJAPGIM Nasdaq-100 Buffer 12 ETF - JanuaryScore 62
  3. Rank 2BQTRGlobal X Nasdaq 100 Tail Risk ETFScore 62
  4. Rank 4BPQOCPGIM Nasdaq-100 Buffer 12 ETF - OctoberScore 61
  5. Rank 5CQBUFInnovator Nasdaq-100 10 Buffer ETFScore 54

Our read on each fund

ETF.net Research

PQJABPGIM Nasdaq-100 Buffer 12 ETF - January

PQOCBPGIM Nasdaq-100 Buffer 12 ETF - October

In short

PQJA A one-year seatbelt on the Nasdaq-100: PQJA absorbs the first 12% of price losses on the index's flagship ETF and gives up gains above a cap in exchange. A deeper cushion than most of its buffer peers, at 0.50% a year.

PQOC Twelve points of downside cushion on the Nasdaq-100, reset every October. PGIM buffers the first 12% of a one-year loss on the big Nasdaq-100 ETF's own shares and caps the upside in exchange, for 0.50% a year.

Stated mandate

PQJA The Fund seeks to match QQQ’s price return up to a predetermined cap while buffering the first 12% of QQQ losses over a one-year target outcome period.

PQOC The Fund seeks to track the price return of the Invesco QQQ Trust, Series 1 up to a cap while buffering the first 12% of losses during the one-year Target Outcome Period.

Why people hold it

  • PQJA Cushions the first 12% of the tracked Nasdaq-100 ETF's price losses over each one-year outcome period, deeper than the 10-point buffer on Innovator's QBUF.pgim.com
  • Charges 0.50% a year against a 0.79% median for its Nasdaq-100 buffer cohort, where QBUF sits at 0.79%.
  • January is one of four PGIM Nasdaq-100 buffer funds on a quarterly calendar (PQAP, PQJL, PQOC), so outcome periods aren't tied to a single start month.
  • Launched in 2024 and rated in the upper half of its shallow-buffer Nasdaq-100 group on our review.
  • PQOC Twelve points of cushion, not ten, and the fee is 0.50% against the 0.79% Innovator charges on its 10-point Nasdaq-100 buffer fund (QBUF).
  • The reference is the shares of the Invesco QQQ Trust itself, not a custom index, so the thing being buffered is the Nasdaq-100 vehicle most investors already watch.
  • One of four PGIM siblings on a quarterly calendar (PQJA starts in January, PQAP in April), so the October reset window is a choice, not a leftover.
  • Priced below the typical shallow-buffer Nasdaq-100 fund, which matters in a structure where fees come straight out of a fixed pool of upside.

Worth knowing

  • PQJA Upside stops at a cap that resets with each new one-year period, and the mandate follows price return, so index dividends aren't part of the payoff.
  • The 12% buffer and the cap are measured across a full outcome period. Buy partway through and your effective cushion and ceiling differ from the headline terms.pgim.com
  • A small, thinly traded fund next to the largest buffer products, which can show up as wider bid-ask spreads.
  • PQOC Upside is capped. A new ceiling gets set at the start of each October outcome period, and any Nasdaq-100 rally past it does not come through.
  • The 12% buffer is designed for the full October-to-September period. Enter or exit mid-stream and you own the options at whatever they are worth that day.
  • A small, thinly traded fund, so bid-ask spreads can run wider than on plain Nasdaq-100 funds.

Full PQJA profile⁠

Full PQOC profile⁠

PQJA vs PQOC Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

PQJA vs PQOC Cost

Same expense ratio

$9,979

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • PQJA 0.50%

    $9,979

  • PQOC 0.50%

    $9,979

$10,000
30 years

Cost over time

  • PQJA 0.50%
  • PQOC 0.50%
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PQJA $9,979PQOC $9,979

Year by year

YearPQJAPQOC
10$900$900
20$3,460$3,460
30$9,979$9,979

Expense ratio

  • 0.50%PQJA
  • 0.50%PQOC
  • Middle half of Nasdaq-100 Buffer 9-12% funds
  • Median 0.79%

PQJA 2nd cheapest of 12 funds

PQOC 2nd cheapest of 12 funds

PQJA vs PQOC Dividends

Last 12 months to Oct 30, 2026
Last payment
PQJA $0.0015
PQOC $0.0013
Ex-dividend
PQJA Dec 30, 2025
PQOC Dec 30, 2025
Paid on
PQJA Jan 2, 2026
PQOC Jan 2, 2026
Frequency
PQJA Irregular
PQOC Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

PQJAIrregular · 1 paymentAll PQJA payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.0015. Use the arrow keys to read each point.$0$0.0012026YTD
PQOCIrregular · 1 paymentAll PQOC payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 30, 2025 $0.0013. Use the arrow keys to read each point.$0$0.0012026YTD

PQJA vs PQOC Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PQJA 10.0%since Feb 2025PQOC 10.5%since Feb 2025
Return per unit of riskSharpe ratio, 3 years
PQJA 0.99since Feb 2025PQOC 0.79since Feb 2025
Worst fallMax drawdown, 5 years
PQJA −14.7%since Jan 2025PQOC −13.7%since Jan 2025
Market sensitivityBeta, 5 years
PQJA 0.74PQOC 0.73

PQJA and PQOC in the news

All news⁠

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