Data as of Nov 4, 2026.
ARLU vs DDFA: Cap, Buffer & Days Left
As of Nov 4, 2026 ARLU can fall 12.1% before its buffer engages and DDFA 9.0%.
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Net assets: $54m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr, and $58m on Nov 4, 2026 for Innovator Equity Dual Directional 15 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.DDFA: reference +17.9% since period start, fund +9.3%; buffer 0 to −15; cap +13.4%; At its cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
ARLU costs 0.05 points a year less; DDFA is 1.1 times larger.
Points (pts) are percentage points.
| Measure | ARLU | DDFA |
|---|---|---|
| Return | ||
| Total return, 1 year | +7.7% | not published |
| Drawdown | ||
| Index fall to the buffer | 15.2% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $54m | $57m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | ARLU | DDFA | ARLU | DDFA |
| 3 months | −1.2% | +1.6% | −0.8 pts | +2.0 pts |
| 6 months | +2.7% | +3.9% | −1.7 pts | −0.6 pts |
| 1 year | +7.7% | – | −5.9 pts | – |
| Since launchNot the same days: ARLU Apr 2024 · DDFA Apr 2026 | +29.5% | +8.0% | −17.3 pts | −9.1 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.
These are two different products. DDFA is a floor fund, which caps how far a holder can fall. ARLU is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
DDFA is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
ARLU resets first, on Mar 31, 2027, 147 days from now; DDFA runs to Mar 31, 2027, 147 days. A fall from here reaches ARLU’s buffer after 12.1% and DDFA’s after 9.0%. 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.
DDFA
SPY had already risen past this fund's cap of +13.4% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.2% as the period runs out. The fund's price can fall 9.0% from here before the buffer starts absorbing losses, by the issuer's number. On Mar 31, 2027 the period ends and a new cap is set.
Questions people ask
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How this is computed
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.
Cite this pageCitation, APA and Markdown
ETFIQ, ARLU against DDFA, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/arlu-vs-ddfa
ETFIQ. (Nov 4, 2026). ARLU against DDFA. Retrieved from https://etfiq.com/compare/buffer/arlu-vs-ddfa
[ARLU against DDFA (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/arlu-vs-ddfa)
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