Which has more room to gain, AOCT or OCTW?

From their prices on Oct 2, 2026, AOCT can gain about 20.8% before its cap and OCTW about 11.7%, so AOCT has more room left this period.

Which resets first, AOCT or OCTW?

AOCT ends its outcome period on Sep 30, 2028 and OCTW on Sep 30, 2027. A new cap is set the day after each.

Which is cheaper, AOCT or OCTW?

AOCT charges 0.79% a year and OCTW charges 0.74%, so OCTW is cheaper. Fees come from each fund's prospectus.

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AOCT vs OCTW: which one stands where?

As of Oct 2, 2026 OCTW can fall 1.1% before its buffer engages and AOCT 0.5%, and OCTW resets 366 days sooner. Innovator Equity Defined Protection ETF - Oct 2028 and AllianzIM U.S. Equity Buffer20 ETF - Oct.

OCTW costs 0.05 points a year less; their one-year returns differ by 3.8 points; OCTW is 6.7 times larger.

	AOCT	OCTW
Expense ratio	0.79%	0.74%
Net assets	$47m	$317m
Total return, 1 year	+5.9%	+9.7%
What it tracks	SPY	SPY
Holdings in common	not published

0.5%

AOCT can fall this far before its buffer

1.1%

OCTW can fall this far before its buffer

20.8%

AOCT can still gain

11.7%

OCTW can still gain

AOCTFull floor

AOCT: reference +0.9% since period start, fund +0.5%; buffer Floor; cap +21.3%; Full floor.

OCTWBetween buffer and cap

OCTW: reference +0.9% since period start, fund +0.3%; buffer 0 to −20; cap +12.8%; Between buffer and cap.

These are two different products. AOCT is a floor fund, which caps how far a holder can fall. OCTW 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. OCTW has 363 days of its period left and AOCT has 729, so the two are not the same bet on the same months.

Where each one stands today

OCTW resets first, on Sep 30, 2027, 363 days from now; AOCT runs to Sep 30, 2028, 729 days. AOCT can still gain 20.8% before its cap, OCTW 11.7%. A fall from here reaches AOCT’s buffer after 0.5% and OCTW’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’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

	Total return		Gap to the reference
Window	AOCT	OCTW	AOCT	OCTW
3 months	+1.7%	+2.9%	−1.9 pts	−0.7 pts
6 months	+4.9%	+9.0%	−13.0 pts	−9.0 pts
1 year	+5.9%	+9.7%	−10.3 pts	−6.6 pts
3 years	not published	+36.6%	not published	−52.7 pts

AOCT and OCTW over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

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

OCTW

AllianzIM U.S. Equity Buffer20 ETF - Oct · Absorbs the first 20% of loss on SPY and caps the gain at 12.8%, over a period ending Sep 30, 2027

Issuer Innovator AllianzIM

Reference index SPY SPY

Buffer 100% 20%

Outcome period Sep 30, 2026 to Sep 30, 2028 Oct 1, 2026 to Sep 30, 2027

Days left 729 363

Starting cap +21.3% +12.8%

Can still gain 20.8% 11.7%

Fall before buffer 0.5% 1.1%

Protection left, index points 100.0% of 100.0% 20.0% of 20.0%

Index return this period +0.9% +0.9%

Fund return this period +0.5% +0.3%

State today Open Open

Expense ratio 0.79% 0.74%

Net assets $47m $317m

AOCT and OCTW on the same fields, as of Oct 2, 2026. Source: ETFIQ.

AOCT in plain words

From its price on Oct 2, 2026, the fund can gain about 20.8% more before it reaches its cap. The fund's price can fall 0.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.9% 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. 729 days remained on Oct 2, 2026. On Sep 30, 2028 the period ends and a new cap is set.

OCTW in plain words

From its price on Oct 2, 2026, the fund can gain about 11.7% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 363 days remained on Oct 2, 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 OCTW?: From their prices on Oct 2, 2026, AOCT can gain about 20.8% before its cap and OCTW about 11.7%, so AOCT has more room left this period.
Which resets first, AOCT or OCTW?: AOCT ends its outcome period on Sep 30, 2028 and OCTW on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, AOCT or OCTW?: AOCT charges 0.79% a year and OCTW charges 0.74%, so OCTW is cheaper. Fees come from each fund's prospectus.

Other comparisons

AOCT vs QBSV AOCT vs SEPM AOCT vs SIXO AOCT vs TOCT OCTW vs APOC OCTW vs BALT OCTW vs BOCT OCTW vs CPSO

SPY →AOCT on its own →OCTW on its own →How every figure is computed →Standards and sources →

Where these figures came from

Innovator page for AOCT ↗OCTW filings on SEC EDGAR ↗AllianzIM page for OCTW ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, AOCT against OCTW, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/aoct-vs-octw

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.