Which has more room to gain, BALT or QBSF?

From their prices on Oct 13, 2026, BALT can gain about 1.9% before its cap and QBSF about 2.0%, so QBSF has more room left this period.

Which resets first, BALT or QBSF?

BALT ends its outcome period on Dec 31, 2026 and QBSF on Dec 31, 2026. A new cap is set the day after each.

Which is cheaper, BALT or QBSF?

BALT charges 0.69% a year and QBSF charges 0.64%, so QBSF is cheaper. Fees come from each fund's prospectus.

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BALT vs QBSF: Cap, Buffer & Days Left

As of Oct 13, 2026 QBSF can fall 0.8% before its buffer engages and BALT 0.5%. Net assets on Oct 13, 2026: $3.1bn for Innovator Defined Wealth Shield ETF - Quarterly and $64m for AllianzIM U.S. Equity Buffer15 ETF - Jan.

QBSF costs 0.05 points a year less; their one-year returns differ by 1.0 point; BALT is far larger, $3.1bn against $64m.

Points (pts) are percentage points.

BALT vs QBSF: Cap, Buffer & Days Left
	BALT	QBSF
Expense ratio	0.69%	0.64%
Net assets	$3.1bn	$64m
Total return, 1 year	+6.8%	+7.8%
What it tracks	SPY	SPY
Holdings in common	not published

0.5%

BALT can fall this far before its buffer

0.8%

QBSF can fall this far before its buffer

1.9%

BALT can still gain

2.0%

QBSF can still gain

BALTBetween buffer and cap

BALT: reference +2.0% since period start, fund +0.5%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Figures to Oct 13, 2026.

QBSFBetween buffer and cap

QBSF: reference +2.0% since period start, fund +0.7%; buffer 0 to −15; cap +2.9%; Between buffer and 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?

BALT 99.8

QBSF 86.5

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 →

Where each one stands today

BALT resets first, on Dec 31, 2026, 79 days from now; QBSF runs to Dec 31, 2026, 79 days. BALT can still gain 1.9% before its cap, QBSF 2.0%. A fall from here reaches BALT’s buffer after 0.5% and QBSF’s after 0.8%. 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 QBSF: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BALT	QBSF	BALT	QBSF
3 months	+1.9%	+2.1%	−1.6 pts	−1.4 pts
6 months	+3.6%	+4.1%	−8.4 pts	−7.9 pts
1 year	+6.8%	+7.8%	−10.5 pts	−9.5 pts
3 years	+25.5%	not published	−54.8 pts	not published
Since launch Not the same days: BALT Jul 2021 · QBSF Jul 2025	+36.3%	+10.3%	−44.5 pts	−15.7 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

QBSF

AllianzIM U.S. Equity Buffer15 ETF - Jan · Absorbs the first 15% of loss on SPY and caps the gain at 2.9%, over a period ending Dec 31, 2026

Issuer Innovator AllianzIM

Reference index SPY SPY

Buffer 20% 15%

Outcome period Sep 30, 2026 to Dec 31, 2026 Oct 1, 2026 to Dec 31, 2026

Days left 79 79

Starting cap +2.4% +2.9%

Can still gain 1.9% 2.0%

Fall before buffer 0.5% 0.8%

Protection left, index points 20.0% of 20.0% 15.0% of 15.0%

Index return this period +2.0% +2.0%

Fund return this period +0.5% +0.7%

State today Open Open

Expense ratio 0.69% 0.64%

Net assets $3.1bn $64m

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 2.0% 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 QBSF

From its price on Oct 13, 2026, the fund can gain about 2.0% more before it reaches its cap. The fund's price can fall 0.8% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BALT or QBSF?: From their prices on Oct 13, 2026, BALT can gain about 1.9% before its cap and QBSF about 2.0%, so QBSF has more room left this period.
Which resets first, BALT or QBSF?: BALT ends its outcome period on Dec 31, 2026 and QBSF on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, BALT or QBSF?: BALT charges 0.69% a year and QBSF charges 0.64%, so QBSF is cheaper. Fees come from each fund's prospectus.

Other comparisons

BALT vs SIXJ BALT vs EALT BALT vs ZOCT BALT vs UOCT QBSF vs FSEP QBSF vs PJAN QBSF vs FDEC QBSF vs POCT

SPY →BALT on its own →QBSF on its own →How every figure is computed →Standards and sources →

Where these figures came from

Innovator page for BALT ↗QBSF filings on SEC EDGAR ↗AllianzIM page for QBSF ↗

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 QBSF, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/balt-vs-qbsf

Open data

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