Which has more room to gain, AOCT or UOCT?

From their prices on Oct 2, 2026, AOCT can gain about 20.8% before its cap and UOCT about 14.6%, so AOCT has more room left this period.

Which resets first, AOCT or UOCT?

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

Which is cheaper, AOCT or UOCT?

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

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AOCT vs UOCT: which one stands where?

As of Oct 2, 2026 UOCT can fall 5.5% before its buffer engages and AOCT 0.5%, and UOCT resets 366 days sooner. Innovator Equity Defined Protection ETF - Oct 2028 and Innovator U.S. Equity Ultra Buffer ETF - Oct.

their one-year returns differ by 4.8 points; UOCT is 4.0 times larger.

	AOCT	UOCT
Expense ratio	0.79%	0.79%
Net assets	$47m	$189m
Total return, 1 year	+5.9%	+10.7%
What it tracks	SPY	SPY
Holdings in common	not published

0.5%

AOCT can fall this far before its buffer

5.5%

UOCT can fall this far before its buffer

20.8%

AOCT can still gain

14.6%

UOCT can still gain

AOCTFull floor

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

UOCTBetween buffer and cap

UOCT: reference +0.9% since period start, fund +0.6%; buffer −5 to −35; cap +15.3%; Between buffer and cap.

These are two different products. AOCT is a floor fund, which caps how far a holder can fall. UOCT 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. UOCT has 363 days of its period left and AOCT has 729, 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

UOCT 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, UOCT 14.6%. A fall from here reaches AOCT’s buffer after 0.5% and UOCT’s after 5.5%. 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	UOCT	AOCT	UOCT
3 months	+1.7%	+3.6%	−1.9 pts	0.0 pts
6 months	+4.9%	+10.8%	−13.0 pts	−7.2 pts
1 year	+5.9%	+10.7%	−10.3 pts	−5.6 pts
3 years	not published	+40.8%	not published	−48.5 pts

AOCT and UOCT 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

UOCT

Innovator U.S. Equity Ultra Buffer ETF - Oct · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 15.3%, over a period ending Sep 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 100% 5% to 35%

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

Days left 729 363

Starting cap +21.3% +15.3%

Can still gain 20.8% 14.6%

Fall before buffer 0.5% 5.5%

Protection left, index points 100.0% of 100.0% 30.0% of 30.0%

Index return this period +0.9% +0.9%

Fund return this period +0.5% +0.6%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $47m $189m

AOCT and UOCT 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.

UOCT in plain words

From its price on Oct 2, 2026, the fund can gain about 14.6% more before it reaches its cap. The fund's price can fall 5.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.9% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% 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 UOCT?: From their prices on Oct 2, 2026, AOCT can gain about 20.8% before its cap and UOCT about 14.6%, so AOCT has more room left this period.
Which resets first, AOCT or UOCT?: AOCT ends its outcome period on Sep 30, 2028 and UOCT on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, AOCT or UOCT?: AOCT charges 0.79% a year and UOCT charges 0.79%, so AOCT is cheaper. Fees come from each fund's prospectus.

Other comparisons

AOCT vs DDFO AOCT vs DDSQ AOCT vs DDTO AOCT vs DSEP UOCT vs APOC UOCT vs BALT UOCT vs BAPR UOCT vs BJAN

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

Where these figures came from

Innovator page for AOCT ↗UOCT filings on SEC EDGAR ↗Innovator page for UOCT ↗

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 UOCT, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/aoct-vs-uoct

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.