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AOCT vs BOCT: Cap, Buffer & Days Left

As of Oct 13, 2026 BOCT can fall 1.5% before its buffer engages and AOCT 0.9%, and BOCT resets 366 days sooner. Net assets on Oct 12, 2026: $56m for Innovator Equity Defined Protection ETF - Oct 2028 and $307m for Innovator U.S. Equity Buffer ETF - Oct.

Both cost 0.79% a year; their one-year returns differ by 10.1 points; BOCT is 5.5 times larger.

Points (pts) are percentage points.

AOCT vs BOCT: Cap, Buffer & Days Left
AOCTBOCT
Expense ratio0.79%0.79%
Net assets, as of Oct 12, 2026$56m$307m
Total return, 1 year+6.9%+17.0%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer1.9%
0.9%
AOCT can fall this far before its buffer
1.5%
BOCT can fall this far before its buffer
20.3%
AOCT can still gain
18.4%
BOCT can still gain
AOCTFull floor
Full floorAOCT: reference +1.9% since period start, fund +0.8%; buffer Floor; cap +21.3%; Full floor. Figures to Oct 13, 2026.full floor beneath+19.4% more to the capfull floor0% period start+21.3% cap+1.9% gain capturedTODAY · SPY +1.9%Full floorAOCT: reference +1.9% since period start, fund +0.8%; buffer Floor; cap +21.3%; Full floor. Figures to Oct 13, 2026.full floor beneathfull floor0% start+21.3% cap+1.9% gain captured+19.4% more to the capTODAY · SPY +1.9%

AOCT: reference +1.9% since period start, fund +0.8%; buffer Floor; cap +21.3%; Full floor. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

BOCTBetween buffer and cap
Between buffer and capBOCT: reference +1.9% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 13, 2026.9 pts+18.2% more to the cap−9.0% floor0% period start+20.2% cap+1.9% gain capturedTODAY · SPY +1.9%Between buffer and capBOCT: reference +1.9% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 13, 2026.−9.0% floor0% start+20.2% cap9 pts of buffer+1.9% gain captured+18.2% more to the capTODAY · SPY +1.9%

BOCT: reference +1.9% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 13, 2026.

BOCT: reference +1.9% since period start, fund +1.5%; buffer 0 to −9; cap +20.2%; Between buffer and cap. Figures to Oct 13, 2026.

These are two different products. AOCT is a floor fund, which caps how far a holder can fall. BOCT is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

They do not reset together. BOCT has 352 days of its period left and AOCT has 718, 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

BOCT resets first, on Sep 30, 2027, 352 days from now; AOCT runs to Sep 30, 2028, 718 days. AOCT can still gain 20.3% before its cap, BOCT 18.4%. A fall from here reaches AOCT’s buffer after 0.9% and BOCT’s after 1.5%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: AOCT vs BOCT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowAOCTBOCTAOCTBOCT
3 months+2.2%+4.9%−1.6 pts+1.0 pts
6 months+4.3%+11.8%−9.1 pts−1.6 pts
1 year+6.9%+17.0%−12.3 pts−2.2 pts
3 yearsnot published+56.4%not published−23.9 pts
Since launch
Not the same days: AOCT Oct 2024 · BOCT Oct 2018
+12.6%+127.5%−24.3 pts−39.2 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

AOCT
Innovator Equity Defined Protection ETF - Oct 2028 · Absorbs the whole loss on SPY and caps the gain at 21.3%, over a period ending Sep 30, 2028
BOCT
Innovator U.S. Equity Buffer ETF - Oct · Absorbs the first 9% of loss on SPY and caps the gain at 20.2%, over a period ending Sep 30, 2027
Issuer Innovator Innovator
Reference index SPY SPY
Buffer 100% 9%
Outcome period Sep 30, 2026 to Sep 30, 2028 Sep 30, 2026 to Sep 30, 2027
Days left 718 352
Starting cap +21.3% +20.2%
Can still gain 20.3% 18.4%
Fall before buffer 0.9% 1.5%
Protection left, index points 100.0% of 100.0% 9.0% of 9.0%
Index return this period +1.9% +1.9%
Fund return this period +0.8% +1.5%
State today Open Open
Expense ratio 0.79% 0.79%
Net assets, as of Oct 12, 2026 $56m $307m

As of Oct 13, 2026. Source: ETFIQ.

About AOCT

From its price on Oct 13, 2026, the fund can gain about 20.3% more before it reaches its cap. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 1.9% 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. 718 days remained on Oct 13, 2026. On Sep 30, 2028 the period ends and a new cap is set.

About BOCT

From its price on Oct 13, 2026, the fund can gain about 18.4% more before it reaches its cap. The fund's price can fall 1.5% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 352 days remained on Oct 13, 2026. On Sep 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, AOCT or BOCT?
From their prices on Oct 13, 2026, AOCT can gain about 20.3% before its cap and BOCT about 18.4%, so AOCT has more room left this period.
Which resets first, AOCT or BOCT?
AOCT ends its outcome period on Sep 30, 2028 and BOCT on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, AOCT or BOCT?
AOCT and BOCT both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
AOCT vs OCTWAOCT vs GSEPAOCT vs DSEPAOCT vs UOCTBOCT vs OCTTBOCT vs XBOCBOCT vs OCTUBOCT vs PBOC
SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →AOCT on its own →BOCT on its own →How every figure is computed →Standards and sources →
Where these figures came from
Innovator page for AOCT ↗BOCT filings on SEC EDGAR ↗Innovator page for BOCT ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every figure 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 figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, AOCT against BOCT, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/aoct-vs-boct

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.