XJAN vs. PBJA

Last updated Aug 1, 2026

XJAN (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January) and PBJA (PGIM US Large-Cap Buffer 20 ETF - January) are both Options Trading funds. Both are actively managed. Over the past year, XJAN returned 10.19% vs 11.05% for PBJA. Their correlation of 0.88 means they have usually moved in the same direction. XJAN charges 0.85%/yr vs 0.50%/yr for PBJA.

Performance

XJAN vs. PBJA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) and PGIM US Large-Cap Buffer 20 ETF - January (PBJA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with XJAN having a 5.00% return and PBJA slightly higher at 5.02%.

XJAN

• 1D: 0.28%
• 1M: 0.74%
• 6M: 4.70%
• YTD: 5.00%
• 1Y: 10.19%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 9.25%

PBJA

• 1D: 0.09%
• 1M: 0.34%
• 6M: 4.34%
• YTD: 5.02%
• 1Y: 11.05%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 10.66%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
PBJA PGIM US Large-Cap Buffer 20 ETF - January	$125.96K	$122.99K	$139.34K
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	$17.85K	$27.68K	$136.34K

XJAN vs. PBJA - Yearly Performance Comparison

	2026 (YTD)	2025	2024
XJAN FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January	5.00%	9.14%	9.08%
PBJA PGIM US Large-Cap Buffer 20 ETF - January	5.02%	10.33%	11.10%

Correlation

The correlation between XJAN and PBJA is 0.89, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.89
Correlation (All Time) Calculated using the full available price history since Jan 22, 2024	0.88

The correlation between XJAN and PBJA has been stable across timeframes, ranging from 0.88 to 0.89 - a consistent structural relationship.

Return for Risk

XJAN vs. PBJA — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

XJAN

XJAN Risk / Return Rank: 83
XJAN Sharpe Ratio Rank: 84
XJAN Sortino Ratio Rank: 87
XJAN Omega Ratio Rank: 91
XJAN Calmar Ratio Rank: 67
XJAN Martin Ratio Rank: 88

PBJA

PBJA Risk / Return Rank: 88
PBJA Sharpe Ratio Rank: 88
PBJA Sortino Ratio Rank: 90
PBJA Omega Ratio Rank: 91
PBJA Calmar Ratio Rank: 80
PBJA Martin Ratio Rank: 92

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

XJAN vs. PBJA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) and PGIM US Large-Cap Buffer 20 ETF - January (PBJA). 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.

	XJAN	PBJA	Difference
Sharpe ratio: Return per unit of total volatility	2.00	2.16	-0.16
Sortino ratio: Return per unit of downside risk	2.95	3.21	-0.26
Omega ratio: Gain probability vs. loss probability	1.43	1.44	-0.01
Calmar ratio: Return relative to maximum drawdown	2.38	2.91	-0.53
Martin ratio: Return relative to average drawdown	13.40	15.49	-2.09

XJAN vs. PBJA - Sharpe Ratio Comparison

The current XJAN Sharpe Ratio is 2.00, which is comparable to the PBJA Sharpe Ratio of 2.16. The chart below compares the historical Sharpe Ratios of XJAN and PBJA, 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

XJAN vs. PBJA - Drawdown Comparison

The maximum XJAN drawdown since its inception was -10.04%, which is greater than PBJA's maximum drawdown of -8.50%. Use the drawdown chart below to compare losses from any high point for XJAN and PBJA.

Drawdown Indicators

	XJAN	PBJA	Difference
Max Drawdown Largest peak-to-trough decline	-10.04%	-8.50%	-1.54%
Max Drawdown (1Y) Largest decline over 1 year	-4.05%	-3.58%	-0.47%
Current Drawdown Current decline from peak	0.00%	-0.12%	+0.12%
Average Drawdown Average peak-to-trough decline	-0.56%	-0.54%	-0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.72%	0.67%	+0.05%

Volatility

XJAN vs. PBJA - Volatility Comparison

The current volatility for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - January (XJAN) is 1.10%, while PGIM US Large-Cap Buffer 20 ETF - January (PBJA) has a volatility of 1.51%. This indicates that XJAN experiences smaller price fluctuations and is considered to be less risky than PBJA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	XJAN	PBJA	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.51%	-0.41%
Volatility (6M) Calculated over the trailing 6-month period	4.31%	4.05%	+0.26%
Volatility (1Y) Calculated over the trailing 1-year period	4.82%	4.82%	0.00%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.07%	6.30%	+0.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.07%	6.30%	+0.77%

XJAN vs. PBJA - Expense Ratio Comparison

XJAN has a 0.85% expense ratio, which is higher than PBJA's 0.50% expense ratio.

Dividends

XJAN vs. PBJA - Dividend Comparison

Neither XJAN nor PBJA has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both XJAN and PBJA in my portfolio?

XJAN and PBJA have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, XJAN or PBJA?

PBJA has higher volatility (1.51%) compared to XJAN (1.10%). In terms of maximum drawdown, XJAN dropped -10.04% vs PBJA's -8.50%.

Which ETF is better, XJAN or PBJA?

On 1-year performance, PBJA leads with 11.05% vs 10.19% for XJAN. On fees, PBJA is cheaper at 0.50% per year. On volatility, XJAN has been the lower-risk option at 1.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, XJAN or PBJA?

Over the 1-year period, PBJA has performed better with a 11.05% return vs 10.19%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, XJAN or PBJA?

PBJA is cheaper with a 0.50% expense ratio, compared with 0.85% for XJAN.

Which ETF pays a higher dividend yield, XJAN or PBJA?

XJAN and PBJA have nearly identical dividend yields, around 0.00%.

What is the main difference between XJAN and PBJA?

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

Which has better risk-adjusted returns?

PBJA currently has the higher Sharpe Ratio (2.16 vs 2.00), 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.