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PQX vs XTR

PGIM S&P 500 Quarterly Buffer 10 ETF

PQXBCboe

Global X S&P 500 Tail Risk ETF

XTRCNYSE Arca

Overlap

Expense ratio

XTR −0.25pt a year

PQX0.50%XTR0.25%

Avg volume · 30D

PQX 2.5×the volume

PQX4.13KXTR1.64K

PQX vs XTR Performance

Jul 31, 2026 – Oct 30, 2026

+1.3%PQX+1.0%XTR

Jul 31, 2026 to Oct 30, 2026. PQX +1.3%. XTR +1.0%. Use the arrow keys to read each point.0%2%3%4%Jul 2026Sep 2026Oct 2026
Expense ratio
PQX 0.50%
XTR 0.25%, better
Fund size
PQX $9M
XTR $5M
1Y total return
PQX No data
XTR +7.9%
Yield (12M)
PQX No data
XTR 16.45%
Holdings
PQX 4
XTR 506
Avg volume (30D)
PQX 4.13K sh, better
XTR 1.64K sh
NAV per share
PQX $25.66
XTR $28.54
52W range

ETF.net Grade

PQX: Cost 91, Risk 69, Mission not scored, Tradability 17, Holdings not scored, Durability 21. XTR: Cost 100, Risk 18, Mission not scored, Tradability 13, Holdings 85, Durability 46.
Pillar letters and Scores for PQX, XTR, with each pillar’s weight
PillarPQXXTR
Cost30% weightA91A100Higher
Mission25% weightNot scoredNot scored
Risk15% weightB69HigherF18
Tradability15% weightF17HigherF13
Holdings10% weightNot scoredA85
Durability5% weightF21C46Higher

Rank among S&P 500 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. PQX and XTR are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

PQX ranks 7th and XTR 57th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 7BJUNPPGIM S&P 500 Buffer 12 ETF - JuneScore 63
  2. Rank 7BPQXPGIM S&P 500 Quarterly Buffer 10 ETFScore 63
  3. Rank 7BTENDiShares Large Cap 10% Target Buffer Dec ETFScore 63
  4. Rank 57CXIDEFT Vest U.S. Equity Buffer & Premium Income ETF - DecemberScore 40
  5. Rank 57CXTRGlobal X S&P 500 Tail Risk ETFScore 40
  6. Rank 64DJULZTrueshares Structured Outcome (July) ETFScore 39

Our read on each fund

ETF.net Research

PQXBPGIM S&P 500 Quarterly Buffer 10 ETF

XTRCGlobal X S&P 500 Tail Risk ETF

In short

PQX No data

XTR Most downside-protection ETFs sell away your upside to pay for it. XTR pays cash instead: it owns the S&P 500 stocks and buys 10% out-of-the-money puts every quarter, leaving the upside uncapped.

Stated mandate

PQX No data

XTR The Fund seeks to track the performance of the Cboe S&P 500 Tail Risk Index before fees and expenses.

Why people hold it

PQX No data

  • XTR No cap on the gains. The hedge is bought with cash rather than funded by selling calls, so index rallies come through less the put premium and fees.sec.gov
  • Costs 0.25%, well under half of what the defined-outcome funds it competes with typically charge for downside protection.
  • Owns the roughly 500 S&P 500 stocks themselves, with the put position layered on top, rather than wrapping the index in a stack of options.sec.gov
  • Rules-based and mechanical: puts are bought at 10% below the prevailing index level each quarter and held to expiration, with no manager guessing at timing.sec.gov

Worth knowing

PQX No data

  • XTR Protection starts about 10% down and resets quarterly, so garden-variety dips are absorbed in full and the gap widens if the market rallies mid-quarter.sec.gov
  • Insurance is not free. The quarterly premium is a steady cost against plain index exposure, and in calm markets the puts expire worthless.sec.gov
  • A small fund that trades thinly, so limit orders matter and subscale products carry more risk of being closed than the category's giants.

Full PQX profile⁠

Full XTR profile⁠

PQX vs XTR Holdings

As of
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.

PQX vs XTR Cost

Overpaying PQX vs XTR

$4,820

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

  • PQX 0.50%

    $9,979

  • XTR 0.25%

    $5,159

$10,000
30 years

Cost over time

  • PQX 0.50%
  • XTR 0.25%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530PQX $9,979XTR $5,159

Year by year

YearPQXXTROverpaying
10$900$455$445
20$3,460$1,769$1,691
30$9,979$5,159$4,820

Expense ratio

  • 0.50%PQX
  • 0.25%XTR, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

XTR cheapest of 77 funds

PQX 5th cheapest of 77 funds

PQX vs XTR Dividends

Last 12 months to Oct 30, 2026
Yield (12M)
PQX No data
XTR 16.45%
Payout (12M)
PQX None
XTR $4.69
Last payment
PQX No data
XTR $0.08
Ex-dividend
PQX No data
XTR Jun 29, 2026
Paid on
PQX No data
XTR Jul 2, 2026
Frequency
PQX No data
XTR Twice a year

Distribution history

Per share, 2021 to 2026, same scale for both

PQXAll PQX payments⁠

No distribution history available.

XTRTwice a year · 10 paymentsAll XTR payments⁠
One bar per payment. 10 payments from 2021 to 2026 YTD. Dec 30, 2021 $0.64; Jun 29, 2022 $0.10; Dec 29, 2022 $0.15; Jun 29, 2023 $0.10; Dec 28, 2023 $0.19; Jun 27, 2024 $0.17; Dec 30, 2024 $5.55; Jun 27, 2025 $0.11; Dec 30, 2025 $4.61; Jun 29, 2026 $0.08. Use the arrow keys to read each point.$0$520232026YTD

PQX vs XTR Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
PQX No dataXTR 11.7%
Return per unit of riskSharpe ratio, 3 years
PQX No dataXTR 1.19
Worst fallMax drawdown, 5 years
PQX No dataXTR −20.8%
Market sensitivityBeta, 5 years
PQX 0.00XTR 0.94

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