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PQOC vs QSPT

PGIM Nasdaq-100 Buffer 12 ETF - October

PQOCBNasdaq

FT Vest Nasdaq-100 Buffer ETF - September

QSPTCCboe

Overlap

Expense ratio

PQOC −0.40pt a year

PQOC0.50%QSPT0.90%

Avg volume · 30D

QSPT 6.7×the volume

PQOC6.77KQSPT45.1K

PQOC vs QSPT Performance

Oct 31, 2025 – Oct 30, 2026

+9.2%PQOC+10.6%QSPT

Oct 31, 2025 to Oct 30, 2026. PQOC +9.2%. QSPT +10.6%. Use the arrow keys to read each point.−5%0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
PQOC 0.50%, better
QSPT 0.90%
Fund size
PQOC $29M
QSPT $713M
1Y total return
PQOC +9.2%
QSPT +10.6%, better
Holdings
PQOC 4
QSPT 3
Avg volume (30D)
PQOC 6.77K sh
QSPT 45.1K sh, better
NAV per share
PQOC $31.87
QSPT $35.11
52W range

ETF.net Grade

PQOC: Cost 76, Risk 56, Mission 94, Tradability 42, Holdings not scored, Durability 49. QSPT: Cost 15, Risk 47, Mission 95, Tradability 85, Holdings 26, Durability 82.
Pillar letters and Scores for PQOC, QSPT, with each pillar’s weight
PillarPQOCQSPT
Cost30% weightA76HigherF15
Mission25% weightA94A95Higher
Risk15% weightB56HigherC47
Tradability15% weightC42A85Higher
Holdings10% weightNot scoredD26
Durability5% weightC49A82Higher

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. PQOC and QSPT 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 ›

PQOC ranks 4th and QSPT 11th 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
  6. Rank 10CDDNQInnovator Growth-100 Dual Directional 5 Buffer ETFScore 42
  7. Rank 11CQSPTFT Vest Nasdaq-100 Buffer ETF - SeptemberScore 41
  8. Rank 12DNBFRInnovator Nasdaq-100 Managed 10 Buffer ETFScore 34

Our read on each fund

ETF.net Research

PQOCBPGIM Nasdaq-100 Buffer 12 ETF - October

QSPTCFT Vest Nasdaq-100 Buffer ETF - September

In short

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.

QSPT The September stop on First Trust's quarterly Nasdaq-100 buffer carousel: it absorbs the first 10% of a QQQ price drop over a one-year stretch, and hands back everything above a cap reset each September.

Stated mandate

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.

QSPT The Fund seeks to track the price return of the Invesco QQQ Trust, Series 1, subject to a 16.97% upside cap and protection against the first 10% of losses during the stated outcome period.

Why people hold it

  • 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.
  • QSPT The deal is written down, not implied: absorb the first 10% of QQQ's price decline over the outcome period, give up gains above a cap set at each September reset.ftportfolios.com
  • The reference asset is the QQQ ETF itself rather than a bespoke index, so the security your buffer keys off trades in public view all day.
  • Running since 2021, so it has cycled through multiple complete September-to-September outcome periods, cap resets and all.

Worth knowing

  • 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.
  • QSPT 0.90% a year sits above the Nasdaq-100 buffer median of 0.79%. PGIM's PQAP and PQJA charge 0.50%, Innovator's QBUF 0.79%, for similar shallow-buffer builds.
  • Price return only. QQQ's dividends don't pass through, and the fund isn't built as an income payer.
  • Thinly traded next to the category's giants, so limit orders earn their keep. Buy mid-period and you inherit whatever cap and buffer are left, not the September terms.

Full PQOC profile⁠

Full QSPT profile⁠

PQOC vs QSPT 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.

PQOC vs QSPT Cost

Overpaying QSPT vs PQOC

$7,061

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

  • PQOC 0.50%

    $9,979

  • QSPT 0.90%

    $17,040

$10,000
30 years

Cost over time

  • PQOC 0.50%
  • QSPT 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$20K051015202530QSPT $17,040PQOC $9,979

Year by year

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

Expense ratio

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

PQOC 2nd cheapest of 12 funds

QSPT 9th cheapest of 12 funds

PQOC vs QSPT Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
PQOC No data
QSPT None
Last payment
PQOC $0.0013
QSPT No data
Ex-dividend
PQOC Dec 30, 2025
QSPT No data
Paid on
PQOC Jan 2, 2026
QSPT No data
Frequency
PQOC Irregular
QSPT No data

Distribution history

Per share, 2025 to 2026, same scale for both

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
QSPTAll QSPT payments⁠

No distribution history available.

PQOC vs QSPT Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PQOC 10.5%since Feb 2025QSPT 9.8%
Return per unit of riskSharpe ratio, 3 years
PQOC 0.79since Feb 2025QSPT 1.28
Worst fallMax drawdown, 5 years
PQOC −13.7%since Jan 2025QSPT −22.6%
Market sensitivityBeta, 5 years
PQOC 0.73QSPT 0.67

PQOC and QSPT in the news

All news⁠

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