GJAN vs. PQJA

Last updated Jun 6, 2026

GJAN (FT Vest U.S. Equity Moderate Buffer ETF - January) and PQJA (PGIM Nasdaq-100 Buffer 12 ETF - January) are both Defined Outcome funds. GJAN is passively managed, while PQJA is actively managed. Over the past year, GJAN returned 14.41% vs 21.12% for PQJA. Their correlation of 0.88 suggests significant overlap in exposure. GJAN charges 0.85%/yr vs 0.50%/yr for PQJA.

Performance

GJAN vs. PQJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Moderate Buffer ETF - January (GJAN) and PGIM Nasdaq-100 Buffer 12 ETF - January (PQJA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GJAN achieves a 4.34% return, which is significantly lower than PQJA's 6.97% return.

GJAN

• 1D: -0.85%
• 1M: 0.44%
• YTD: 4.34%
• 6M: 5.03%
• 1Y: 14.41%
• 3Y*: 11.94%
• 5Y*: —
• 10Y*: —

PQJA

• 1D: -1.61%
• 1M: 0.43%
• YTD: 6.97%
• 6M: 8.02%
• 1Y: 21.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

GJAN vs. PQJA - Yearly Performance Comparison

	2026 (YTD)	2025
GJAN FT Vest U.S. Equity Moderate Buffer ETF - January	4.34%	10.57%
PQJA PGIM Nasdaq-100 Buffer 12 ETF - January	6.97%	16.94%

Correlation

The correlation between GJAN and PQJA is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Jan 3, 2025	0.88

The correlation between GJAN and PQJA has been stable across timeframes, ranging from 0.87 to 0.88 - a consistent structural relationship.

Return for Risk

GJAN vs. PQJA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

GJAN

GJAN Risk / Return Rank: 81
GJAN Sharpe Ratio Rank: 82
GJAN Sortino Ratio Rank: 85
GJAN Omega Ratio Rank: 88
GJAN Calmar Ratio Rank: 66
GJAN Martin Ratio Rank: 84

PQJA

PQJA Risk / Return Rank: 80
PQJA Sharpe Ratio Rank: 83
PQJA Sortino Ratio Rank: 84
PQJA Omega Ratio Rank: 87
PQJA Calmar Ratio Rank: 67
PQJA Martin Ratio Rank: 81

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

GJAN vs. PQJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Moderate Buffer ETF - January (GJAN) and PGIM Nasdaq-100 Buffer 12 ETF - January (PQJA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	GJAN	PQJA	Difference
Sharpe ratio: Return per unit of total volatility	2.48	2.53	-0.05
Sortino ratio: Return per unit of downside risk	3.63	3.55	+0.08
Omega ratio: Gain probability vs. loss probability	1.52	1.50	+0.01
Calmar ratio: Return relative to maximum drawdown	3.07	3.13	-0.06
Martin ratio: Return relative to average drawdown	16.02	15.19	+0.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

GJAN vs. PQJA - Sharpe Ratio Comparison

The current GJAN Sharpe Ratio is 2.48, which is comparable to the PQJA Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of GJAN and PQJA, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	GJAN	PQJA	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.48	2.53	-0.05
Sharpe Ratio (All Time) Calculated using the full available price history	1.60	1.28	+0.32

Drawdowns

GJAN vs. PQJA - Drawdown Comparison

The maximum GJAN drawdown since its inception was -10.60%, smaller than the maximum PQJA drawdown of -14.72%. Use the drawdown chart below to compare losses from any high point for GJAN and PQJA.

Drawdown Indicators

	GJAN	PQJA	Difference
Max Drawdown Largest peak-to-trough decline	-10.60%	-14.72%	+4.12%
Max Drawdown (1Y) Largest decline over 1 year	-4.71%	-6.77%	+2.06%
Max Drawdown (3Y) Largest decline over 3 years	-10.60%	—	—
Current Drawdown Current decline from peak	-0.87%	-1.70%	+0.83%
Average Drawdown Average peak-to-trough decline	-0.78%	-1.65%	+0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	1.39%	-0.49%

Volatility

GJAN vs. PQJA - Volatility Comparison

The current volatility for FT Vest U.S. Equity Moderate Buffer ETF - January (GJAN) is 1.24%, while PGIM Nasdaq-100 Buffer 12 ETF - January (PQJA) has a volatility of 2.01%. This indicates that GJAN experiences smaller price fluctuations and is considered to be less risky than PQJA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GJAN	PQJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.24%	2.01%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	4.72%	6.87%	-2.15%
Volatility (1Y) Calculated over the trailing 1-year period	5.84%	8.40%	-2.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.61%	13.46%	-5.85%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.61%	13.46%	-5.85%

GJAN vs. PQJA - Expense Ratio Comparison

GJAN has a 0.85% expense ratio, which is higher than PQJA's 0.50% expense ratio.

Dividends

GJAN vs. PQJA - Dividend Comparison

Neither GJAN nor PQJA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both GJAN and PQJA in my portfolio?

GJAN and PQJA have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GJAN or PQJA?

PQJA has higher volatility (2.01%) compared to GJAN (1.24%). In terms of maximum drawdown, GJAN dropped -10.60% vs PQJA's -14.72%.

Which ETF is better, GJAN or PQJA?

On 1-year performance, PQJA leads with 21.12% vs 14.41% for GJAN. On fees, PQJA is cheaper at 0.50% per year. On volatility, GJAN has been the lower-risk option at 1.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, GJAN or PQJA?

Over the 1-year period, PQJA has performed better with a 21.12% return vs 14.41%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, GJAN or PQJA?

PQJA is cheaper with a 0.50% expense ratio, compared with 0.85% for GJAN.

Which ETF pays a higher dividend yield, GJAN or PQJA?

GJAN and PQJA have nearly identical dividend yields, around 0.00%.

What is the main difference between GJAN and PQJA?

They also come from different issuers: FT Vest and PGIM. Their fees differ too: 0.85% for GJAN and 0.50% for PQJA.

Which has better risk-adjusted returns?

PQJA currently has the higher Sharpe Ratio (2.53 vs 2.48), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.