PBJA vs. APRQ

Last updated Apr 1, 2026

Compare and contrast key facts about PGIM US Large-Cap Buffer 20 ETF - January (PBJA) and Innovator Premium Income 40 Barrier ETF - April (APRQ).

PBJA and APRQ are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. PBJA is an actively managed fund by PGIM. It was launched on Dec 29, 2023. APRQ is an actively managed fund by Innovator. It was launched on Mar 31, 2023.

Performance

PBJA vs. APRQ - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PGIM US Large-Cap Buffer 20 ETF - January (PBJA) and Innovator Premium Income 40 Barrier ETF - April (APRQ). The values are adjusted to include any dividend payments, if applicable.

PBJA vs. APRQ - Yearly Performance Comparison

	2026 (YTD)
PBJA PGIM US Large-Cap Buffer 20 ETF - January	-2.11%
APRQ Innovator Premium Income 40 Barrier ETF - April	0.00%

Returns By Period

PBJA

• 1D: 1.34%
• 1M: -1.41%
• YTD: -1.47%
• 6M: 1.02%
• 1Y: 10.03%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APRQ

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PBJA vs. APRQ - Expense Ratio Comparison

PBJA has a 0.50% expense ratio, which is lower than APRQ's 0.79% expense ratio.

APRQ

Innovator Premium Income 40 Barrier ETF - April

PBJA

PGIM US Large-Cap Buffer 20 ETF - January

Return for Risk

PBJA vs. APRQ — Risk / Return Rank

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

PBJA

PBJA Risk / Return Rank: 73
PBJA Sharpe Ratio Rank: 67
PBJA Sortino Ratio Rank: 70
PBJA Omega Ratio Rank: 80
PBJA Calmar Ratio Rank: 65
PBJA Martin Ratio Rank: 82

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.

PBJA vs. APRQ - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PGIM US Large-Cap Buffer 20 ETF - January (PBJA) and Innovator Premium Income 40 Barrier ETF - April (APRQ). 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.

	PBJA	APRQ	Difference
Sharpe ratio Return per unit of total volatility	1.21	—	—
Sortino ratio Return per unit of downside risk	1.82	—	—
Omega ratio Gain probability vs. loss probability	1.31	—	—
Calmar ratio Return relative to maximum drawdown	1.69	—	—
Martin ratio Return relative to average drawdown	9.52	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PBJA	APRQ	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.21	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.43	—	—

Dividends

PBJA vs. APRQ - Dividend Comparison

Neither PBJA nor APRQ has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

PBJA vs. APRQ - Drawdown Comparison

The maximum PBJA drawdown since its inception was -8.50%, which is greater than APRQ's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for PBJA and APRQ.

Drawdown Indicators

	PBJA	APRQ	Difference
Max Drawdown Largest peak-to-trough decline	-8.50%	0.00%	-8.50%
Max Drawdown (1Y) Largest decline over 1 year	-6.16%	—	—
Current Drawdown Current decline from peak	-2.29%	0.00%	-2.29%
Average Drawdown Average peak-to-trough decline	-0.58%	0.00%	-0.58%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.09%	—	—

Volatility

Volatility by Period

	PBJA	APRQ	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.50%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.73%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.31%	0.00%	+8.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.53%	0.00%	+6.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.53%	0.00%	+6.53%