Data as of Nov 4, 2026.
BALT vs SQMX: Cap, Buffer & Days Left
As of Nov 4, 2026 SQMX can fall 1.0% before its buffer engages and BALT 0.6%, and SQMX resets 13 days sooner.
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Net assets: $3.3bn on Nov 4, 2026 for Innovator Defined Wealth Shield ETF - Quarterly, and $55m on Nov 3, 2026 for FT Vest U.S. Equity Quarterly Max Buffer ETF.
BALT: reference +0.5% since period start, fund +0.6%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Data to Nov 4, 2026.
BALT: reference +0.5% since period start, fund +0.6%; buffer 0 to −20; cap +2.4%; Between buffer and cap. Data to Nov 4, 2026.SQMX: reference +0.7% since period start, fund +0.8%; buffer 0 to −12; cap +3.0%; Between buffer and cap. Data to Nov 4, 2026.
SQMX: reference +0.7% since period start, fund +0.8%; buffer 0 to −12; cap +3.0%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
BALT costs 0.16 points a year less; their one-year returns differ by 0.4 points; BALT is far larger, $3.2bn against $55m.
Points (pts) are percentage points.
| Measure | BALT | SQMX |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.4% | +6.8% |
| Drawdown | ||
| Index fall to the buffer | 0.5% | 0.7% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.69% | 0.85% |
| Net assets, as of Nov 3, 2026 | $3.2bn | $55m |
| 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 | BALT | SQMX | BALT | SQMX |
| 3 months | +1.3% | +1.2% | +1.7 pts | +1.6 pts |
| 6 months | +3.2% | +3.3% | −1.3 pts | −1.2 pts |
| 1 year | +6.4% | +6.8% | −7.1 pts | −6.8 pts |
| 3 years | +25.4% | – | −51.0 pts | – |
| Since launchNot the same days: BALT Jul 2021 · SQMX Dec 2024 | +36.5% | +13.7% | −41.7 pts | −15.2 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
SQMX resets first, on Dec 18, 2026, 44 days from now; BALT runs to Dec 31, 2026, 57 days. BALT can still gain 1.8% before its cap, SQMX 2.0%. A fall from here reaches BALT’s buffer after 0.6% and SQMX’s after 1.0%. Both track SPY, so what separates them is where each is in its own period.
BALT
From its price on Nov 4, 2026, the fund can gain about 1.8% more before it reaches its cap. The fund's price can fall 0.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% 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. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.
SQMX
From its price on Nov 4, 2026, the fund can gain about 2.0% more before it reaches its cap. The fund's price can fall 1.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.7% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level. 44 days remained on Nov 4, 2026. On Dec 18, 2026 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, BALT against SQMX, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/balt-vs-sqmx
ETFIQ. (Nov 4, 2026). BALT against SQMX. Retrieved from https://etfiq.com/compare/buffer/balt-vs-sqmx
[BALT against SQMX (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/balt-vs-sqmx)
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