Data as of . Every figure is the buffer desk's own, on published data.
BSEP vs FOCT
Where each one stands today
FOCT resets first, on Oct 16, 2026, 42 days from now; BSEP runs to Aug 31, 2027, 361 days. BSEP can still gain 19.4% before its cap, FOCT 1.6%. A fall from here reaches BSEP’s buffer after 0.3% and FOCT’s after 11.9%. Both track SPY, so what separates them is where each is in its own period.
Every figure is the buffer desk’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| BSEP | FOCT | BSEP | FOCT | |
| 3 months | +4.2% | +4.0% | −0.5 pts | −0.7 pts |
| 6 months | +11.0% | +10.9% | −4.2 pts | −4.3 pts |
| 1 year | +14.4% | +15.9% | −5.5 pts | −4.1 pts |
| 3 years | +55.8% | +40.9% | −22.2 pts | −37.1 pts |
| BSEP Innovator U.S. Equity Buffer ETF - Sep | FOCT FT Vest U.S. Equity Buffer ETF - October | |
|---|---|---|
| Issuer | Innovator | First Trust |
| Reference index | SPY | SPY |
| Buffer | ||
| Outcome period | Aug 31, 2026 to Aug 31, 2027 | Oct 20, 2025 to Oct 16, 2026 |
| Days left | 361 | 42 |
| Starting cap | +19.8% | +15.1% |
| Can still gain | 19.4% | 1.6% |
| Fall before buffer | 0.3% | 11.9% |
| Protection left, index points | 9.0% of 9.0% | 10.0% of 10.0% |
| Index return this period | +0.4% | +15.9% |
| Fund return this period | +0.3% | +12.5% |
| State today | Open | At cap |
| Expense ratio | 0.79% | 0.85% |
BSEP in plain words
From its price on Sep 4, 2026, the fund can gain about 19.4% more before it reaches its cap. The fund's price can fall 0.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.4% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 361 days remained on Sep 4, 2026. On Aug 31, 2027 the period ends and a new cap is set.
FOCT in plain words
SPY had already risen past this fund's cap of +15.1% for the period on Sep 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.6% as the period runs out. The fund's price can fall 11.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 13.7% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 42 days remained on Sep 4, 2026. On Oct 16, 2026 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, BSEP or FOCT?
- From their prices on Sep 4, 2026, BSEP can gain about 19.4% before its cap and FOCT about 1.6%, so BSEP has more room left this period.
- Which resets first, BSEP or FOCT?
- BSEP ends its outcome period on Aug 31, 2027 and FOCT on Oct 16, 2026. A new cap is set the day after each.
- Which is cheaper, BSEP or FOCT?
- BSEP charges 0.79% a year and FOCT charges 0.85%, so BSEP is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BSEP against FOCT, data as of Sep 4, 2026. https://etfiq.com/compare/buffer/BSEP-FOCT.html Free to use with attribution; the underlying files are at Open data.