Data as of Nov 4, 2026.
DDFS vs SPY: Differences, Returns & Fees
Over the year to Nov 4, 2026, DDFS returned +7.5% to SPY's +14.8%, and SPY charges 0.09% to DDFS's 0.79%.
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Net assets: $122m on Nov 4, 2026 for Innovator Equity Dual Directional 15 Buffer ETF - Sep, and $804.8bn on Nov 3, 2026 for SPDR S&P 500 ETF Trust.
Pair scorecard
SPY costs 0.70 points a year less; their one-year returns differ by 7.3 points; SPY is far larger, $804.8bn against $121m.
| Measure | DDFS | SPY |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.5% | +14.8% |
| Drawdown | ||
| Index fall to the buffer | 0.0% | |
| Fund price fall to the buffer | 1.0% | |
| Benchmark | ||
| What it tracks | SPY | S&P 500 Index |
| The outcome period | ||
| Room to the cap | 9.4% | |
| Buffer left, in index points | 14.9% of 15.0% | |
| Days left in the period | 300 | |
| Period ends | Aug 31, 2027 | |
| Cost and size | ||
| Expense ratio | 0.79% | 0.09% |
| Net assets, as of Nov 3, 2026 | $121m | $804.8bn |
| Holdings | ||
| Holdings in common | not published | |
| In the S&P 500, by weight | 100% | |
| Top ten holdings, share of the fund | 37.3% | |
Side by side
DDFS and SPY on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.
DDFS
From its price on Nov 4, 2026, the fund can gain about 9.4% more before it reaches its cap. The fund's price can fall 1.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 14.9% of the 15.0% buffer still sits below today's SPY level. 300 days remained on Nov 4, 2026. On Aug 31, 2027 the period ends and a new cap is set.
SPY
SPY tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.09% a year. By its holdings published by its issuer for Nov 3, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 504 positions, with the top ten at 37.3%.
Questions people ask
- Are DDFS and SPY in the same category?
- DDFS is a buffer ETF and SPY is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
- Which returned more over the last year, DDFS or SPY?
- In the year to Nov 4, 2026, with distributions reinvested, DDFS returned +7.5% and SPY +14.8%.
- Which is cheaper, DDFS or SPY?
- SPY is cheaper, by 0.70 percentage points a year. That is about $70 on $10,000 held for a year. Fees come from each fund's prospectus.
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ETFIQ, DDFS against SPY, data as of Nov 4, 2026. https://etfiq.com/compare/any/ddfs-vs-spy
ETFIQ. (Nov 4, 2026). DDFS against SPY. Retrieved from https://etfiq.com/compare/any/ddfs-vs-spy
[DDFS against SPY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/any/ddfs-vs-spy)
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