Data as of Nov 4, 2026.
AAPR vs DDFA: Cap, Buffer & Days Left
As of Nov 4, 2026 DDFA can fall 9.0% before its buffer engages and AAPR 4.5%, and DDFA resets 366 days sooner.
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Net assets on Nov 4, 2026: $71m for Innovator Equity Defined Protection ETF - Apr 2028 and $58m for Innovator Equity Dual Directional 15 Buffer ETF - Apr.
AAPR: reference +17.9% since period start, fund +4.2%; buffer Floor; cap +15.7%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.DDFA: reference +17.9% since period start, fund +9.3%; buffer 0 to −15; cap +13.4%; At its cap. Data to Nov 4, 2026.
DDFA: reference +17.9% since period start, fund +9.3%; buffer 0 to −15; cap +13.4%; At its cap. Data to Nov 4, 2026.Pair scorecard
Both cost 0.79% a year; AAPR is 1.2 times larger.
Points (pts) are percentage points.
| Measure | AAPR | DDFA |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.2% | not published |
| Drawdown | ||
| Index fall to the buffer | 15.2% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.79% |
| Net assets | $71m | $58m |
| Holdings | ||
| Holdings in common | not published | |
Risk and return
Apr 10, 2026 to Oct 30, 2026 · 29 weekly returnsFrom Apr 2026 to Oct 2026, DDFA returned more: +5.3% to +2.9%. AAPR fell less at its worst: −0.6% to −0.7%.
Full scorecard
3 measures, with how each is measured Open ↓
| Measure | AAPR | DDFA | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +2.9% | +5.3% | DDFA | Price change plus distributions, reinvested. |
| Price return | +2.9% | +5.3% | DDFA | Price change alone, distributions left out. |
| Risk | ||||
| Max drawdown | −0.6% | −0.7% | AAPR | Deepest fall from a high to the low after it. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 29 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | AAPR | DDFA | AAPR | DDFA |
| 3 months | +1.0% | +1.6% | +1.4 pts | +2.0 pts |
| 6 months | +2.0% | +3.9% | −2.5 pts | −0.6 pts |
| 1 year | +7.2% | – | −6.4 pts | – |
| Since launchNot the same days: AAPR Apr 2024 · DDFA Apr 2026 | +21.0% | +8.0% | −25.8 pts | −9.1 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. AAPR is a floor fund, which caps how far a holder can fall. DDFA is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
They do not reset together. DDFA has 147 days of its period left and AAPR has 513, so the two are not the same bet on the same months.
Both are Innovator funds, so the difference between them is the terms rather than the house.
Where each one stands today
DDFA resets first, on Mar 31, 2027, 147 days from now; AAPR runs to Mar 31, 2028, 513 days. AAPR can still gain 10.6% before its cap, DDFA 3.2%. A fall from here reaches AAPR’s buffer after 4.5% and DDFA’s after 9.0%. Both track SPY, so what separates them is where each is in its own period.
No client brief for this pair: ETFIQ prints no one-year total return for DDFA.
AAPR
SPY had already risen past this fund's cap of +15.7% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 10.6% as the period runs out. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 15.2% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 513 days remained on Nov 4, 2026. On Mar 31, 2028 the period ends and a new cap is set.
DDFA
SPY had already risen past this fund's cap of +13.4% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.2% as the period runs out. The fund's price can fall 9.0% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 147 days remained on Nov 4, 2026. On Mar 31, 2027 the period ends and a new cap is set.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every number is an ETFIQ calculation with distributions reinvested.
Cite this pageCitation, APA and Markdown
ETFIQ, AAPR against DDFA, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/aapr-vs-ddfa
ETFIQ. (Nov 4, 2026). AAPR against DDFA. Retrieved from https://etfiq.com/compare/buffer/aapr-vs-ddfa
[AAPR against DDFA (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/aapr-vs-ddfa)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.