JANP vs. XMAR

Last updated Apr 1, 2026

Compare and contrast key facts about PGIM US Large-Cap Buffer 12 ETF - January (JANP) and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR).

JANP and XMAR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. JANP is an actively managed fund by PGIM. It was launched on Dec 29, 2023. XMAR is an actively managed fund by FT Vest. It was launched on Mar 16, 2023.

Performance

JANP vs. XMAR - 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 Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR). The values are adjusted to include any dividend payments, if applicable.

JANP vs. XMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JANP PGIM US Large-Cap Buffer 12 ETF - January	-2.40%	13.33%	15.74%
XMAR FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	1.40%	10.30%	10.30%

Returns By Period

In the year-to-date period, JANP achieves a -2.40% return, which is significantly lower than XMAR's 1.40% return.

JANP

• 1D: 1.82%
• 1M: -2.79%
• YTD: -2.40%
• 6M: 0.73%
• 1Y: 13.09%
• 3Y*: —
• 5Y*: —
• 10Y*: —

XMAR

• 1D: 1.20%
• 1M: 0.60%
• YTD: 1.40%
• 6M: 3.23%
• 1Y: 10.19%
• 3Y*: 10.11%
• 5Y*: —
• 10Y*: —

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

JANP vs. XMAR - Expense Ratio Comparison

JANP has a 0.50% expense ratio, which is lower than XMAR's 0.85% expense ratio.

XMAR

FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March

JANP

PGIM US Large-Cap Buffer 12 ETF - January

Return for Risk

JANP vs. XMAR — Risk / Return Rank

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

JANP

JANP Risk / Return Rank: 69
JANP Sharpe Ratio Rank: 62
JANP Sortino Ratio Rank: 66
JANP Omega Ratio Rank: 75
JANP Calmar Ratio Rank: 62
JANP Martin Ratio Rank: 79

XMAR

XMAR Risk / Return Rank: 77
XMAR Sharpe Ratio Rank: 71
XMAR Sortino Ratio Rank: 75
XMAR Omega Ratio Rank: 95
XMAR Calmar Ratio Rank: 57
XMAR Martin Ratio Rank: 86

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. XMAR - 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 Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR). 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.

	JANP	XMAR	Difference
Sharpe ratio Return per unit of total volatility	1.14	1.30	-0.17
Sortino ratio Return per unit of downside risk	1.71	1.96	-0.25
Omega ratio Gain probability vs. loss probability	1.29	1.47	-0.17
Calmar ratio Return relative to maximum drawdown	1.63	1.52	+0.11
Martin ratio Return relative to average drawdown	8.85	10.40	-1.55
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

JANP vs. XMAR - Sharpe Ratio Comparison

The current JANP Sharpe Ratio is 1.14, which is comparable to the XMAR Sharpe Ratio of 1.30. The chart below compares the historical Sharpe Ratios of JANP and XMAR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	JANP	XMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.14	1.30	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	1.27	1.90	-0.63

Correlation

The correlation between JANP and XMAR is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

JANP vs. XMAR - Dividend Comparison

Neither JANP nor XMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

JANP vs. XMAR - Drawdown Comparison

The maximum JANP drawdown since its inception was -12.18%, which is greater than XMAR's maximum drawdown of -7.29%. Use the drawdown chart below to compare losses from any high point for JANP and XMAR.

Drawdown Indicators

	JANP	XMAR	Difference
Max Drawdown Largest peak-to-trough decline	-12.18%	-7.29%	-4.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.25%	-6.79%	-1.46%
Current Drawdown Current decline from peak	-3.60%	-0.27%	-3.33%
Average Drawdown Average peak-to-trough decline	-0.94%	-0.32%	-0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.52%	1.00%	+0.52%

Volatility

JANP vs. XMAR - Volatility Comparison

PGIM US Large-Cap Buffer 12 ETF - January (JANP) has a higher volatility of 3.47% compared to FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR) at 1.73%. This indicates that JANP's price experiences larger fluctuations and is considered to be riskier than XMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANP	XMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.47%	1.73%	+1.74%
Volatility (6M) Calculated over the trailing 6-month period	5.42%	2.12%	+3.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.57%	7.86%	+3.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.24%	5.64%	+3.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.24%	5.64%	+3.60%