JANW vs. FEBP

Last updated Jun 24, 2026

JANW (AllianzIM U.S. Large Cap Buffer20 Jan ETF) and FEBP (PGIM US Large-Cap Buffer 12 ETF - February) are both Options Trading funds. Both are actively managed. Over the past year, JANW returned 11.63% vs 16.79% for FEBP. Their correlation of 0.90 suggests significant overlap in exposure. JANW charges 0.74%/yr vs 0.50%/yr for FEBP.

Performance

JANW vs. FEBP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and PGIM US Large-Cap Buffer 12 ETF - February (FEBP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, JANW achieves a 3.90% return, which is significantly lower than FEBP's 5.98% return.

JANW

• 1D: -0.35%
• 1M: -0.01%
• YTD: 3.90%
• 6M: 4.02%
• 1Y: 11.63%
• 3Y*: 10.35%
• 5Y*: 7.97%
• 10Y*: —

FEBP

• 1D: -0.59%
• 1M: 0.34%
• YTD: 5.98%
• 6M: 5.89%
• 1Y: 16.79%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

JANW vs. FEBP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
JANW AllianzIM U.S. Large Cap Buffer20 Jan ETF	3.90%	10.05%	10.19%
FEBP PGIM US Large-Cap Buffer 12 ETF - February	5.98%	12.06%	11.40%

Correlation

The correlation between JANW and FEBP is 0.92, 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	0.92
Correlation (All Time) Calculated using the full available price history since Feb 1, 2024	0.90

The correlation between JANW and FEBP has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

JANW vs. FEBP — Risk / Return Rank

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

JANW

JANW Risk / Return Rank: 84
JANW Sharpe Ratio Rank: 84
JANW Sortino Ratio Rank: 88
JANW Omega Ratio Rank: 90
JANW Calmar Ratio Rank: 69
JANW Martin Ratio Rank: 87

FEBP

FEBP Risk / Return Rank: 80
FEBP Sharpe Ratio Rank: 82
FEBP Sortino Ratio Rank: 84
FEBP Omega Ratio Rank: 85
FEBP Calmar Ratio Rank: 67
FEBP Martin Ratio Rank: 84

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.

JANW vs. FEBP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) and PGIM US Large-Cap Buffer 12 ETF - February (FEBP). 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.

	JANW	FEBP	Difference
Sharpe ratio: Return per unit of total volatility	2.50	2.38	+0.12
Sortino ratio: Return per unit of downside risk	3.70	3.39	+0.31
Omega ratio: Gain probability vs. loss probability	1.53	1.47	+0.07
Calmar ratio: Return relative to maximum drawdown	3.20	3.08	+0.12
Martin ratio: Return relative to average drawdown	17.37	15.65	+1.72

JANW vs. FEBP - Sharpe Ratio Comparison

The current JANW Sharpe Ratio is 2.50, which is comparable to the FEBP Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of JANW and FEBP, 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

JANW vs. FEBP - Drawdown Comparison

The maximum JANW drawdown since its inception was -9.69%, smaller than the maximum FEBP drawdown of -12.11%. Use the drawdown chart below to compare losses from any high point for JANW and FEBP.

Drawdown Indicators

	JANW	FEBP	Difference
Max Drawdown Largest peak-to-trough decline	-9.69%	-12.11%	+2.42%
Max Drawdown (1Y) Largest decline over 1 year	-3.65%	-5.47%	+1.82%
Max Drawdown (3Y) Largest decline over 3 years	-8.66%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-9.69%	—	—
Current Drawdown Current decline from peak	-0.63%	-1.01%	+0.38%
Average Drawdown Average peak-to-trough decline	-1.22%	-0.92%	-0.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	1.08%	-0.41%

Volatility

JANW vs. FEBP - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 Jan ETF (JANW) is 1.48%, while PGIM US Large-Cap Buffer 12 ETF - February (FEBP) has a volatility of 2.35%. This indicates that JANW experiences smaller price fluctuations and is considered to be less risky than FEBP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	JANW	FEBP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.48%	2.35%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	3.91%	5.77%	-1.86%
Volatility (1Y) Calculated over the trailing 1-year period	4.69%	7.11%	-2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.80%	9.02%	-2.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.67%	9.02%	-2.35%

JANW vs. FEBP - Expense Ratio Comparison

JANW has a 0.74% expense ratio, which is higher than FEBP's 0.50% expense ratio.

Dividends

JANW vs. FEBP - Dividend Comparison

Neither JANW nor FEBP has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both JANW and FEBP in my portfolio?

With a correlation of 0.92, JANW and FEBP 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, JANW or FEBP?

FEBP has higher volatility (2.35%) compared to JANW (1.48%). In terms of maximum drawdown, JANW dropped -9.69% vs FEBP's -12.11%.

Which ETF is better, JANW or FEBP?

On 1-year performance, FEBP leads with 16.79% vs 11.63% for JANW. On fees, FEBP is cheaper at 0.50% per year. On volatility, JANW has been the lower-risk option at 1.48%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, JANW or FEBP?

Over the 1-year period, FEBP has performed better with a 16.79% return vs 11.63%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, JANW or FEBP?

FEBP is cheaper with a 0.50% expense ratio, compared with 0.74% for JANW.

Which ETF pays a higher dividend yield, JANW or FEBP?

JANW and FEBP have nearly identical dividend yields, around 0.00%.

What is the main difference between JANW and FEBP?

They also come from different issuers: Allianz and PGIM. Their fees differ too: 0.74% for JANW and 0.50% for FEBP.

Which has better risk-adjusted returns?

JANW currently has the higher Sharpe Ratio (2.50 vs 2.38), 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.