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BALT vs DECM: Cap, Buffer & Days Left

As of Oct 13, 2026 DECM can fall 5.6% before its buffer engages and BALT 0.5%, and DECM resets 13 days sooner. Net assets on Oct 12, 2026: $3.1bn for Innovator Defined Wealth Shield ETF - Quarterly and $35m for FT Vest U.S. Equity Max Buffer ETF - December.

BALT costs 0.16 points a year less; their one-year returns differ by 0.2 points; BALT is far larger, $3.1bn against $35m.

Points (pts) are percentage points.

BALT vs DECM: Cap, Buffer & Days Left
BALTDECM
Expense ratio0.69%0.85%
Net assets, as of Oct 12, 2026$3.1bn$35m
Total return, 1 year+7.2%+7.0%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer1.9%12.4%
0.5%
BALT can fall this far before its buffer
5.6%
DECM can fall this far before its buffer
1.9%
BALT can still gain
1.0%
DECM can still gain
BALTBetween buffer and cap
Between buffer and capBALT: reference +1.9% since period start, fund +0.5%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Figures to Oct 13, 2026.20 pts of buffer−20.0% floor0% period start+2.4% cap+1.9% gain captured+0.5% more to the capTODAY · SPY +1.9%Between buffer and capBALT: reference +1.9% since period start, fund +0.5%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Figures to Oct 13, 2026.20 pts−20.0% floor0% start+2.4% cap+1.9% gain captured+0.5% more to the capTODAY · SPY +1.9%

BALT: reference +1.9% since period start, fund +0.5%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Figures to Oct 13, 2026.

BALT: reference +1.9% since period start, fund +0.5%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Figures to Oct 13, 2026.

DECMAt its cap
At its capDECM: reference +14.2% since period start, fund +5.1%; buffer 0 to −51; cap +7.0%; At its cap. Figures to Oct 13, 2026.50.6 pts of buffer+7%−50.6% floor0% period start+7.0% capTODAY · SPY +14.2%At its capDECM: reference +14.2% since period start, fund +5.1%; buffer 0 to −51; cap +7.0%; At its cap. Figures to Oct 13, 2026.50.6 pts of buffer−50.6% floor0% start+7.0% cap+7% gain capturedTODAY · SPY +14.2%

DECM: reference +14.2% since period start, fund +5.1%; buffer 0 to −51; cap +7.0%; At its cap. Figures to Oct 13, 2026.

DECM: reference +14.2% since period start, fund +5.1%; buffer 0 to −51; cap +7.0%; At its cap. Figures to Oct 13, 2026.

ETFIQ Downside Cover Score · BALT scores higherIf the market falls into a bear market from here, how much does the buffer absorb?
0.2, the lowest in this set99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. 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 → How it is computed →

DECM is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

DECM resets first, on Dec 18, 2026, 66 days from now; BALT runs to Dec 31, 2026, 79 days. BALT can still gain 1.9% before its cap, DECM 1.0%. A fall from here reaches BALT’s buffer after 0.5% and DECM’s after 5.6%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BALT vs DECM: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBALTDECMBALTDECM
3 months+2.0%+1.8%−1.9 pts−2.1 pts
6 months+3.7%+4.0%−9.7 pts−9.4 pts
1 year+7.2%+7.0%−11.9 pts−12.2 pts
3 years+25.6%not published−54.8 ptsnot published
Since launch
Not the same days: BALT Jul 2021 · DECM Dec 2024
+36.3%+11.7%−44.5 pts−19.2 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

BALT
Innovator Defined Wealth Shield ETF - Quarterly · Absorbs the first 20% of loss on SPY and caps the gain at 2.4%, over a period ending Dec 31, 2026
DECM
FT Vest U.S. Equity Max Buffer ETF - December · Absorbs the first 51% of loss on SPY and caps the gain at 7.0%, over a period ending Dec 18, 2026
Issuer Innovator First Trust
Reference index SPY SPY
Buffer 20% 51%
Outcome period Sep 30, 2026 to Dec 31, 2026 Dec 22, 2025 to Dec 18, 2026
Days left 79 66
Starting cap +2.4% +7.0%
Can still gain 1.9% 1.0%
Fall before buffer 0.5% 5.6%
Protection left, index points 20.0% of 20.0% 50.6% of 50.6%
Index return this period +1.9% +14.2%
Fund return this period +0.5% +5.1%
State today Open At cap
Expense ratio 0.69% 0.85%
Net assets, as of Oct 12, 2026 $3.1bn $35m

As of Oct 13, 2026. Source: ETFIQ.

About BALT

From its price on Oct 13, 2026, the fund can gain about 1.9% 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 1.9% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 79 days remained on Oct 13, 2026. On Dec 31, 2026 the period ends and a new cap is set.

About DECM

SPY had already risen past this fund's cap of +7.0% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.0% as the period runs out. The fund's price can fall 5.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.4% from today's level to the point where the buffer begins. Protection left, in index points: 50.6% of the 50.6% buffer still sits below today's SPY level. 66 days remained on Oct 13, 2026. On Dec 18, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BALT or DECM?
From their prices on Oct 13, 2026, BALT can gain about 1.9% before its cap and DECM about 1.0%, so BALT has more room left this period.
Which resets first, BALT or DECM?
BALT ends its outcome period on Dec 31, 2026 and DECM on Dec 18, 2026. A new cap is set the day after each.
Which is cheaper, BALT or DECM?
BALT charges 0.69% a year and DECM charges 0.85%, so BALT is cheaper. Fees come from each fund's prospectus.
Other comparisons
BALT vs OCTPBALT vs CPSTBALT vs CPSDBALT vs JANPDECM vs PJANDECM vs FDECDECM vs ZALTDECM vs DDEC
SPY →BALT on its own →DECM on its own →How every figure is computed →Standards and sources →
Where these figures came from
Innovator page for BALT ↗DECM filings on SEC EDGAR ↗First Trust page for DECM ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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 figure 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 figure is an ETFIQ calculation with distributions reinvested.

Cite this pageCitation, APA and Markdown

ETFIQ, BALT against DECM, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/balt-vs-decm

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.