APOC vs SIXO: which one stands where?

As of Oct 2, 2026 SIXO can fall 0.7% before its buffer engages and APOC 0.2%. Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct and AllianzIM U.S. Equity Buffer10 ETF - Apr.

SIXO costs 0.05 points a year less; their one-year returns differ by 5.3 points; SIXO is 1.6 times larger.

APOCSIXO
Expense ratio0.79%0.74%
Net assets$73m$119m
Total return, 1 year+2.9%+8.2%
What it tracksSPYSPY
Holdings in commonnot published
0.2%
APOC can fall this far before its buffer
0.7%
SIXO can fall this far before its buffer
4.0%
APOC can still gain
7.0%
SIXO can still gain
APOCFull floor
Full floorAPOC: reference +0.9% since period start, fund +0.2%; buffer Floor; cap +4.3%; Full floor.full floor beneathfull floor0% period start+4.3% capTODAY · SPY +0.9%Full floorAPOC: reference +0.9% since period start, fund +0.2%; buffer Floor; cap +4.3%; Full floor.full floor beneathfull floor0% start+4.3% capTODAY · SPY +0.9%

APOC: reference +0.9% since period start, fund +0.2%; buffer Floor; cap +4.3%; Full floor.

SIXOBetween buffer and cap
Between buffer and capSIXO: reference +0.9% since period start, fund +0.4%; buffer 0 to −10; cap +7.7%; Between buffer and cap.10 pts−10.0% floor0% period start+7.7% capTODAY · SPY +0.9%Between buffer and capSIXO: reference +0.9% since period start, fund +0.4%; buffer 0 to −10; cap +7.7%; Between buffer and cap.−10.0% floor0% start+7.7% capTODAY · SPY +0.9%

SIXO: reference +0.9% since period start, fund +0.4%; buffer 0 to −10; cap +7.7%; Between buffer and cap.

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

Where each one stands today

APOC resets first, on Mar 31, 2027, 180 days from now; SIXO runs to Mar 31, 2027, 180 days. APOC can still gain 4.0% before its cap, SIXO 7.0%. A fall from here reaches APOC’s buffer after 0.2% and SIXO’s after 0.7%. 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 returnGap to the reference
WindowAPOCSIXOAPOCSIXO
3 months+1.5%+2.5%−2.1 pts−1.1 pts
6 months+3.4%+8.2%−14.6 pts−9.7 pts
1 year+2.9%+8.2%−13.3 pts−8.1 pts
3 yearsnot published+35.9%not published−53.4 pts

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

On the same fields

APOC
Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct · Absorbs the whole loss on SPY and caps the gain at 4.3%, over a period ending Mar 31, 2027
SIXO
AllianzIM U.S. Equity Buffer10 ETF - Apr · Absorbs the first 10% of loss on SPY and caps the gain at 7.7%, over a period ending Mar 31, 2027
Issuer Innovator AllianzIM
Reference index SPY SPY
Buffer 100% 10%
Outcome period Sep 30, 2026 to Mar 31, 2027 Oct 1, 2026 to Mar 31, 2027
Days left 180 180
Starting cap +4.3% +7.7%
Can still gain 4.0% 7.0%
Fall before buffer 0.2% 0.7%
Protection left, index points 100.0% of 100.0% 10.0% of 10.0%
Index return this period +0.9% +0.9%
Fund return this period +0.2% +0.4%
State today Open Open
Expense ratio 0.79% 0.74%
Net assets $73m $119m

APOC and SIXO on the same fields, as of Oct 2, 2026. Source: ETFIQ.

APOC in plain words

From its price on Oct 2, 2026, the fund can gain about 4.0% more before it reaches its cap. The fund's price can fall 0.2% 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. 180 days remained on Oct 2, 2026. On Mar 31, 2027 the period ends and a new cap is set.

SIXO in plain words

From its price on Oct 2, 2026, the fund can gain about 7.0% more before it reaches its cap. The fund's price can fall 0.7% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, APOC or SIXO?
From their prices on Oct 2, 2026, APOC can gain about 4.0% before its cap and SIXO about 7.0%, so SIXO has more room left this period.
Which resets first, APOC or SIXO?
APOC ends its outcome period on Mar 31, 2027 and SIXO on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, APOC or SIXO?
APOC charges 0.79% a year and SIXO charges 0.74%, so SIXO is cheaper. Fees come from each fund's prospectus.
Cite this page

ETFIQ, APOC against SIXO, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/apoc-vs-sixo

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.