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ARLU vs DDTA: which one stands where?

As of Oct 2, 2026 ARLU can fall 12.6% before its buffer engages and DDTA 10.1%. AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr and Innovator Equity Dual Directional 10 Buffer ETF - Apr.

ARLU costs 0.05 points a year less; ARLU is 3.6 times larger.

ARLUDDTA
Expense ratio0.74%0.79%
Net assets$55m$15m
Total return, 1 year+9.0%not published
What it tracksSPYSPY
Holdings in commonnot published
12.6%
ARLU can fall this far before its buffer
10.1%
DDTA can fall this far before its buffer
uncapped
ARLU can still gain
4.8%
DDTA can still gain
ARLUNo cap
No capARLU: reference +18.3% since period start, fund +13.4%; buffer 0 to −15; no cap; No cap.15 pts of buffer+18.3% gained, no cap−15.0% floor0% period startno capTODAY · SPY +18.3%No capARLU: reference +18.3% since period start, fund +13.4%; buffer 0 to −15; no cap; No cap.15 pts−15.0% floor0% startno capTODAY · SPY +18.3%

ARLU: reference +18.3% since period start, fund +13.4%; buffer 0 to −15; no cap; No cap.

DDTAAt its cap
At its capDDTA: reference +18.3% since period start, fund +10.7%; buffer 0 to −10; cap +16.5%; At its cap.10 pts of buffer+16.5% gain captured−10.0% floor0% period start+16.5% capTODAY · SPY +18.3%At its capDDTA: reference +18.3% since period start, fund +10.7%; buffer 0 to −10; cap +16.5%; At its cap.10 pts+16.5%−10.0% floor0% start+16.5% capTODAY · SPY +18.3%

DDTA: reference +18.3% since period start, fund +10.7%; buffer 0 to −10; cap +16.5%; At its cap.

These are two different products. DDTA 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.

DDTA 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, 180 days from now; DDTA runs to Mar 31, 2027, 180 days. A fall from here reaches ARLU’s buffer after 12.6% and DDTA’s after 10.1%. 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 returnGap to the reference
WindowARLUDDTAARLUDDTA
3 months+2.4%+2.8%−1.2 pts−0.8 pts
6 months+12.9%+9.6%−5.0 pts−8.3 pts
1 year+9.0%not published−7.3 ptsnot published

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

On the same fields

ARLU
AllianzIM U.S. Equity Buffer15 Uncapped ETF - Apr · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Mar 31, 2027
DDTA
Innovator Equity Dual Directional 10 Buffer ETF - Apr · Absorbs the first 10% of loss on SPY and caps the gain at 16.5%, over a period ending Mar 31, 2027
Issuer AllianzIM Innovator
Reference index SPY SPY
Buffer 15% 10%
Outcome period Apr 1, 2026 to Mar 31, 2027 Mar 31, 2026 to Mar 31, 2027
Days left 180 180
Starting cap uncapped +16.5%
Can still gain uncapped 4.8%
Fall before buffer 12.6% 10.1%
Protection left, index points 15.0% of 15.0% 10.0% of 10.0%
Index return this period +18.3% +18.3%
Fund return this period +13.4% +10.7%
State today Uncapped At cap
Expense ratio 0.74% 0.79%
Net assets $55m $15m

ARLU and DDTA on the same fields, as of Oct 2, 2026. Source: ETFIQ.

ARLU in plain words

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 12.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.5% 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. 180 days remained on Oct 2, 2026. On Mar 31, 2027 the period ends and a new cap is set.

DDTA in plain words

SPY had already risen past this fund's cap of +16.5% for the period on Oct 2, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.8% as the period runs out. The fund's price can fall 10.1% 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 resets first, ARLU or DDTA?
ARLU ends its outcome period on Mar 31, 2027 and DDTA on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, ARLU or DDTA?
ARLU charges 0.74% a year and DDTA charges 0.79%, so ARLU is cheaper. Fees come from each fund's prospectus.
Other comparisons
ARLU vs SIXOARLU vs TAPRARLU vs UAPRARLU vs XBAPDDTA vs BAPRDDTA vs CPSPDDTA vs DMARDDTA vs FLAO
SPDR® S&P 500® ETF Trust →ARLU on its own →DDTA on its own →How every figure is computed →Standards and sources →
Where these figures came from
ARLU filings on SEC EDGAR ↗AllianzIM page for ARLU ↗DDTA filings on SEC EDGAR ↗Innovator page for DDTA ↗

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, ARLU against DDTA, data as of Oct 2, 2026. https://etfiq.com/compare/buffer/arlu-vs-ddta

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.