JANP vs. QDEC

Last updated Jun 23, 2026

JANP (PGIM US Large-Cap Buffer 12 ETF - January) and QDEC (FT Vest Nasdaq-100 Buffer ETF – December) are both exchange-traded funds - JANP is a Options Trading fund actively managed by PGIM, while QDEC is a Nasdaq-100 fund actively managed by FT Vest. Both are actively managed. Over the past year, JANP returned 17.60% vs 22.88% for QDEC. Their correlation of 0.89 suggests significant overlap in exposure. JANP charges 0.50%/yr vs 0.90%/yr for QDEC.

Performance

JANP vs. QDEC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 12 ETF - January (JANP) and FT Vest Nasdaq-100 Buffer ETF – December (QDEC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANP achieves a 5.97% return, which is significantly lower than QDEC's 7.96% return.

JANP

• 1D: -0.24%
• 1M: 0.98%
• YTD: 5.97%
• 6M: 6.17%
• 1Y: 17.60%
• 3Y*: —
• 5Y*: —
• 10Y*: —

QDEC

• 1D: -1.24%
• 1M: -0.54%
• YTD: 7.96%
• 6M: 7.20%
• 1Y: 22.88%
• 3Y*: 16.64%
• 5Y*: 10.15%
• 10Y*: —

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

JANP vs. QDEC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JANP PGIM US Large-Cap Buffer 12 ETF - January	5.97%	13.33%	15.74%
QDEC FT Vest Nasdaq-100 Buffer ETF – December	7.96%	18.12%	16.40%

Correlation

The correlation between JANP and QDEC is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Jan 2, 2024	0.89

The correlation between JANP and QDEC has been stable across timeframes, ranging from 0.89 to 0.90 - a consistent structural relationship.

Return for Risk

JANP vs. QDEC — Risk / Return Rank

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

JANP

JANP Risk / Return Rank: 82
JANP Sharpe Ratio Rank: 83
JANP Sortino Ratio Rank: 85
JANP Omega Ratio Rank: 88
JANP Calmar Ratio Rank: 69
JANP Martin Ratio Rank: 85

QDEC

QDEC Risk / Return Rank: 76
QDEC Sharpe Ratio Rank: 78
QDEC Sortino Ratio Rank: 79
QDEC Omega Ratio Rank: 79
QDEC Calmar Ratio Rank: 66
QDEC Martin Ratio Rank: 79

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.

JANP vs. QDEC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 12 ETF - January (JANP) and FT Vest Nasdaq-100 Buffer ETF – December (QDEC). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	JANP	QDEC	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.27	+0.29
Sortino ratio: Return per unit of downside risk	3.65	3.19	+0.46
Omega ratio: Gain probability vs. loss probability	1.52	1.43	+0.10
Calmar ratio: Return relative to maximum drawdown	3.32	3.03	+0.29
Martin ratio: Return relative to average drawdown	17.11	14.26	+2.85

JANP vs. QDEC - Sharpe Ratio Comparison

The current JANP Sharpe Ratio is 2.56, which is comparable to the QDEC Sharpe Ratio of 2.27. The chart below compares the historical Sharpe Ratios of JANP and QDEC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

JANP vs. QDEC - Drawdown Comparison

The maximum JANP drawdown since its inception was -12.18%, smaller than the maximum QDEC drawdown of -25.25%. Use the drawdown chart below to compare losses from any high point for JANP and QDEC.

Drawdown Indicators

	JANP	QDEC	Difference
Max Drawdown Largest peak-to-trough decline	-12.18%	-25.25%	+13.07%
Max Drawdown (1Y) Largest decline over 1 year	-5.32%	-7.58%	+2.26%
Max Drawdown (3Y) Largest decline over 3 years	—	-16.08%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.25%	—
Current Drawdown Current decline from peak	-0.31%	-1.65%	+1.34%
Average Drawdown Average peak-to-trough decline	-0.89%	-4.99%	+4.10%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.03%	1.61%	-0.58%

Volatility

JANP vs. QDEC - Volatility Comparison

The current volatility for PGIM US Large-Cap Buffer 12 ETF - January (JANP) is 2.24%, while FT Vest Nasdaq-100 Buffer ETF – December (QDEC) has a volatility of 3.28%. This indicates that JANP experiences smaller price fluctuations and is considered to be less risky than QDEC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANP	QDEC	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.24%	3.28%	-1.04%
Volatility (6M) Calculated over the trailing 6-month period	5.84%	7.91%	-2.07%
Volatility (1Y) Calculated over the trailing 1-year period	6.92%	10.17%	-3.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.06%	14.75%	-5.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.06%	14.60%	-5.54%

JANP vs. QDEC - Expense Ratio Comparison

JANP has a 0.50% expense ratio, which is lower than QDEC's 0.90% expense ratio.

Dividends

JANP vs. QDEC - Dividend Comparison

Neither JANP nor QDEC has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JANP and QDEC in my portfolio?

With a correlation of 0.90, JANP and QDEC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, JANP or QDEC?

QDEC has higher volatility (3.28%) compared to JANP (2.24%). In terms of maximum drawdown, JANP dropped -12.18% vs QDEC's -25.25%.

Which ETF is better, JANP or QDEC?

On 1-year performance, QDEC leads with 22.88% vs 17.60% for JANP. On fees, JANP is cheaper at 0.50% per year. On volatility, JANP has been the lower-risk option at 2.24%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANP or QDEC?

Over the 1-year period, QDEC has performed better with a 22.88% return vs 17.60%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANP or QDEC?

JANP is cheaper with a 0.50% expense ratio, compared with 0.90% for QDEC.

Which ETF pays a higher dividend yield, JANP or QDEC?

JANP and QDEC have nearly identical dividend yields, around 0.00%.

What is the main difference between JANP and QDEC?

JANP is categorized as Options Trading, while QDEC is Nasdaq-100. They also come from different issuers: PGIM and FT Vest. Their fees differ too: 0.50% for JANP and 0.90% for QDEC.

Which has better risk-adjusted returns?

JANP currently has the higher Sharpe Ratio (2.56 vs 2.27), 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.