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PQJA vs QDEC

PGIM Nasdaq-100 Buffer 12 ETF - January

PQJABNasdaq

FT Vest Nasdaq-100 Buffer ETF - December

QDECCCboe

Overlap

0.0%by weight

Expense ratio

PQJA −0.40pt a year

PQJA0.50%QDEC0.90%

Avg volume · 30D

QDEC 6.3×the volume

PQJA5.11KQDEC32.4K

PQJA vs QDEC Performance

Oct 31, 2025 – Oct 30, 2026

+12.5%PQJA+13.0%QDEC

Oct 31, 2025 to Oct 30, 2026. PQJA +12.5%. QDEC +13.0%. Use the arrow keys to read each point.0%5%Oct 2025Apr 2026Oct 2026
Expense ratio
PQJA 0.50%, better
QDEC 0.90%
Fund size
PQJA $35M
QDEC $693M
1Y total return
PQJA +12.5%
QDEC +13.0%, better
Holdings
PQJA 4
QDEC 3
Avg volume (30D)
PQJA 5.11K sh
QDEC 32.4K sh, better
NAV per share
PQJA $32.65
QDEC $35.88
52W range

ETF.net Grade

PQJA: Cost 76, Risk 62, Mission not scored, Tradability 39, Holdings not scored, Durability 49. QDEC: Cost 15, Risk 47, Mission not scored, Tradability 84, Holdings 49, Durability 84.
Pillar letters and Scores for PQJA, QDEC, with each pillar’s weight
PillarPQJAQDEC
Cost30% weightA76HigherF15
Mission25% weightNot scoredNot scored
Risk15% weightB62HigherC47
Tradability15% weightD39A84Higher
Holdings10% weightNot scoredC49
Durability5% weightC49A84Higher

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 QDEC 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 QDEC 8th 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 7CQMARFT Vest Nasdaq-100 Buffer ETF - MarchScore 46
  5. Rank 8CQDECFT Vest Nasdaq-100 Buffer ETF - DecemberScore 44
  6. Rank 9CQJUNFT Vest Nasdaq-100 Buffer ETF - JuneScore 43

Our read on each fund

ETF.net Research

PQJABPGIM Nasdaq-100 Buffer 12 ETF - January

QDECCFT Vest Nasdaq-100 Buffer ETF - December

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.

QDEC December's rung on First Trust's ladder of Nasdaq-100 buffer funds. It absorbs the first 10% of a decline over each one-year outcome period, in exchange for giving up gains above a cap that resets every December.

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.

QDEC The Fund seeks to match the price return of the Invesco QQQ Trust, Series 1, before fees and expenses, subject to an 18.22% upside cap and protection against the first 10% of losses during the stated 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.
  • QDEC The deal is written down in advance: first 10% of a Nasdaq-100 decline absorbed, upside capped, over a one-year outcome period that resets each December.ftportfolios.com
  • One of several First Trust Nasdaq-100 buffers on staggered reset months (QMAR, QJUN, QSPT), so the start date is a choice rather than whatever month you showed up.
  • Running since December 2020 with multiple complete outcome periods behind it, and a few hundred million dollars in assets. Not a launch-year experiment.

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.
  • QDEC At 0.90% it sits above the buffer-cohort median, and cheaper Nasdaq-100 buffers exist: QBUF at 0.79%, PGIM's series at 0.50%, QTR at 0.25%.
  • Thinly traded next to the category's biggest names, so the bid-ask spread is part of the cost, especially on larger orders.
  • Buffer and cap apply before fees and run December to December. Buy mid-period and your own protection and ceiling differ from the stated terms.ftportfolios.com

Full PQJA profile⁠

Full QDEC profile⁠

PQJA vs QDEC Holdings

How PQJA and QDEC differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of PQJA and 0.0% of QDEC.

Level by level

  • Holdings0 in both0.0%
  • Countryby domicile100%

Sector

No Sector split for PQJA.

Country, concentration and asset class

Country by domicile

Country weights in PQJA and QDEC, widest gap first
CountryMore in PQJAMore in QDEC
United StatesSame weight
CanadaSame weight
NetherlandsPQJA +0.1 points
BrazilSame weight
ChinaSame weight
United KingdomSame weight

Concentration

Weight in the 10 largest Holdings

  • PQJA104.0%
  • QDEC101.7%

Securities held

  • PQJA3
  • QDEC2

Asset class

PQJA
Alternatives
QDEC
Multi-Asset

Holdings

  • Only in PQJA3
  • In both0
  • Only in QDEC2

Only in PQJA

3 securities, 100% of PQJA by weight

  • 4QQQ Us 12/31/26 C6.14102.94%
  • 4QQQ Us 12/31/26 P614.310.60%
  • Net Current Assets0.00%

Only in QDEC

2 securities, 100% of QDEC by weight

  • 2026-12-18 Invesco QQQ Trust, Series 1 C 6.16100.35%
  • 2026-12-18 Invesco QQQ Trust, Series 1 P 617.040.93%

Weight gaps

PQJA and QDEC share no securities.

All PQJA holdings⁠All 4 QDEC 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 QDEC Cost

Overpaying QDEC vs PQJA

$7,061

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

  • PQJA 0.50%

    $9,979

  • QDEC 0.90%

    $17,040

$10,000
30 years

Cost over time

  • PQJA 0.50%
  • QDEC 0.90%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530QDEC $17,040PQJA $9,979

Year by year

YearPQJAQDECOverpaying
10$900$1,593$693
20$3,460$6,015$2,555
30$9,979$17,040$7,061

Expense ratio

  • 0.50%PQJA, cheaper
  • 0.90%QDEC
  • Middle half of Nasdaq-100 Buffer 9-12% funds
  • Median 0.79%

PQJA 2nd cheapest of 12 funds

QDEC 9th cheapest of 12 funds

PQJA vs QDEC Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
PQJA No data
QDEC None
Last payment
PQJA $0.0015
QDEC No data
Ex-dividend
PQJA Dec 30, 2025
QDEC No data
Paid on
PQJA Jan 2, 2026
QDEC No data
Frequency
PQJA Irregular
QDEC No data

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
QDECAll QDEC payments⁠

No distribution history available.

PQJA vs QDEC 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 2025QDEC 9.1%
Return per unit of riskSharpe ratio, 3 years
PQJA 0.99since Feb 2025QDEC 1.23
Worst fallMax drawdown, 5 years
PQJA −14.7%since Jan 2025QDEC −25.3%
Market sensitivityBeta, 5 years
PQJA 0.74QDEC 0.59

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