Data as of Nov 4, 2026.
ARLU vs BAPR: Cap, Buffer & Days Left
As of Nov 4, 2026 ARLU can fall 12.1% before its buffer engages and BAPR 11.4%.
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Net assets: $54m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr, and $417m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Apr.
ARLU: reference +17.9% since period start, fund +12.8%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
ARLU: reference +17.9% since period start, fund +12.8%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.BAPR: reference +17.9% since period start, fund +12.3%; buffer 0 to −9; cap +18.5%; Between buffer and cap. Data to Nov 4, 2026.
BAPR: reference +17.9% since period start, fund +12.3%; buffer 0 to −9; cap +18.5%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
ARLU costs 0.05 points a year less; their one-year returns differ by 9.0 points; BAPR is 7.7 times larger.
Points (pts) are percentage points.
| Measure | ARLU | BAPR |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.7% | +16.7% |
| Drawdown | ||
| Index fall to the buffer | 15.2% | 15.1% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $54m | $414m |
| Holdings | ||
| Holdings in common | not published | |
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | ARLU | BAPR | ARLU | BAPR |
| 3 months | −1.2% | +1.6% | −0.8 pts | +2.0 pts |
| 6 months | +2.7% | +4.8% | −1.7 pts | +0.3 pts |
| 1 year | +7.7% | +16.7% | −5.9 pts | +3.2 pts |
| 3 years | – | +55.1% | – | −21.3 pts |
| Since launchNot the same days: ARLU Apr 2024 · BAPR Apr 2019 | +29.5% | +117.7% | −17.3 pts | −50.5 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.
Where each one stands today
ARLU resets first, on Mar 31, 2027, 147 days from now; BAPR runs to Mar 31, 2027, 147 days. A fall from here reaches ARLU’s buffer after 12.1% and BAPR’s after 11.4%. Both track SPY, so what separates them is where each is in its own period.
ARLU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 12.1% 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: 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 new terms are set.
BAPR
From its price on Nov 4, 2026, the fund can gain about 5.0% more before it reaches its cap. The fund's price can fall 11.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 15.1% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 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
It is a place in a set, not a rating or a recommendation.
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.
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ETFIQ, ARLU against BAPR, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/arlu-vs-bapr
ETFIQ. (Nov 4, 2026). ARLU against BAPR. Retrieved from https://etfiq.com/compare/buffer/arlu-vs-bapr
[ARLU against BAPR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/arlu-vs-bapr)
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