Which has more room to gain, BAPR or POCT?

From their prices on Oct 28, 2026, BAPR can gain about 5.0% before its cap and POCT about 14.4%, so POCT has more room left this period.

Which resets first, BAPR or POCT?

BAPR ends its outcome period on Mar 31, 2027 and POCT on Sep 30, 2027. A new cap is set the day after each.

Which is cheaper, BAPR or POCT?

BAPR and POCT both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Buffer ETFs

BAPR vs POCT: Cap, Buffer & Days Left

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As of Oct 28, 2026 BAPR can fall 11.4% before its buffer engages and POCT 1.1%, and BAPR resets 183 days sooner.

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Net assets on Oct 28, 2026: $417m for Innovator U.S. Equity Buffer ETF - Apr and $1.1bn for Innovator U.S. Equity Power Buffer ETF - Oct.

BAPR on its own →POCT on its own →

At a glance

11.4%

BAPR can fall this far before its buffer

1.1%

POCT can fall this far before its buffer

5.0%

BAPR can still gain

14.4%

POCT can still gain

BAPR At its cap

BAPR: reference +18.7% since period start, fund +12.4%; buffer 0 to −9; cap +18.5%; At its cap. Data to Oct 28, 2026.

POCT Between buffer and cap

POCT: reference +1.2% since period start, fund +1.0%; buffer 0 to −15; cap +15.6%; Between buffer and cap. Data to Oct 28, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 5.5 points; POCT is 2.6 times larger.

Points (pts) are percentage points.

BAPR vs POCT: Cap, Buffer & Days Left
Measure	BAPR	POCT
Return
Measure	BAPR	POCT
Total return, 1 year	+16.2%	+10.7%
Drawdown
Measure	BAPR	POCT
Index fall to the buffer	15.7%	1.2%
Benchmark
Measure	BAPR	POCT
What it tracks	SPY	SPY
Cost and size
Measure	BAPR	POCT
Expense ratio	0.79%	0.79%
Net assets	$417m	$1.1bn
Holdings
Measure	BAPR	POCT
Holdings in common	not published

ETFIQ Downside Cover Score · POCT scores higher If the market falls into a bear market from here, how much does the buffer absorb?

IQ Buffer Score15.6BAPR86.1POCT

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

BAPR 15.6

POCT 86.1

0.2, the lowest in this set 99.8, 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 →

Method

Risk and return

Apr 12, 2019 to Oct 23, 2026 · 393 weekly returns · each against SPY

BAPR POCT

Return

Total return edge BAPR +113.7% +97.2%

Annualized edge BAPR +10.6% +9.4%

Price return edge BAPR +113.7% +92.9%

Risk

Volatility edge POCT 12.2% 8.8%

Max drawdown edge POCT −23.8% −17.6%

Downside capture 67.7% 48.5%

Beta 0.64 0.46

Risk-adjusted

Sharpe edge POCT 0.65 0.74

Sortino edge POCT 0.94 1.06

Treynor 0.124 0.143

Calmar edge POCT 0.44 0.54

Against the benchmark

Alpha −0.4% a year +0.6% a year

Alpha t-stat −0.32 0.52

Information ratio −0.68 −0.63

Tracking error 7.4% 10.3%

Reading

BAPR returned more: +113.7% to +97.2%. POCT swung less: 8.8% to 12.2%. POCT fell less at its worst: −17.6% to −23.8%.

Full scorecard

19 measures, with how each is measured Open ↓

Risk and return: BAPR vs POCT: Cap, Buffer & Days Left
Measure	BAPR	POCT	SPY	Edge	How it is measured
Return
Total return	+113.7%	+97.2%		BAPR	Price change plus distributions, reinvested.
Annualized	+10.6%	+9.4%		BAPR	Total return as a yearly rate.
Price return	+113.7%	+92.9%		BAPR	Price change alone, distributions left out.
Risk
Volatility	12.2%	8.8%		POCT	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	8.5%	6.1%		POCT	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−23.8%	−17.6%		POCT	Deepest fall from a high to the low after it.
Upside capture	49.0%	33.0%	100.0%	BAPR	Share of its benchmark's rise caught in the weeks it rose.
Downside capture	67.7%	48.5%	100.0%	POCT	Share of its benchmark's fall taken in the weeks it fell. Lower is better.
Beta	0.64	0.46	1.00	POCT lower	How far it moves for each 1% its benchmark moves.
R squared	0.91	0.89	1.00	Not an edge	Share of its weekly moves its benchmark explains.
Risk-adjusted
Sharpe	0.65	0.74		POCT	Return above Treasury bills per unit of volatility.
Sortino	0.94	1.06		POCT	Return above Treasury bills per unit of downside deviation.
Treynor	0.124	0.143	0.130	POCT	Return above Treasury bills per unit of beta.
Calmar	0.44	0.54		POCT	Annualized return divided by the max drawdown.
Against the benchmark
Benchmark	SPY	SPY	SPY		The ETF each fund is measured against.
Alpha	−0.4% a year	+0.6% a year	0.0%	Not significant	Yearly return beyond what its beta to the benchmark predicts.
Alpha t-stat	−0.32	0.52		Not an edge	How sure the alpha is. Below 2, it could be chance.
Alpha range	−3.0% to +2.2%	−1.6% to +2.7%		Both include zero	The 95% range for the yearly alpha.
Information ratio	−0.68	−0.63		POCT (slight)	Return against its benchmark per unit of tracking error.
Tracking error	7.4%	10.3%	0.0%	Not an edge	How far weekly returns stray from the benchmark, annualized.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 393 weekly returns. Cash rate: the 13-week Treasury bill.

Window by window

Window by window: BAPR vs POCT: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BAPR	POCT	BAPR	POCT
3 months	+3.9%	+4.6%	−1.9 pts	−1.3 pts
6 months	+6.3%	+6.8%	−2.3 pts	−1.7 pts
1 year	+16.2%	+10.7%	+3.8 pts	−1.7 pts
3 years	+62.3%	+45.4%	−25.8 pts	−42.7 pts
Since launchNot the same days: BAPR Apr 2019 · POCT Oct 2018	+117.8%	+100.9%	−52.4 pts	−63.8 pts

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

Side by side

BAPR Innovator U.S. Equity Buffer ETF - Apr · Absorbs the first 9% of loss on SPY and caps the gain at 18.5%, over a period ending Mar 31, 2027 POCT Innovator U.S. Equity Power Buffer ETF - Oct · Absorbs the first 15% of loss on SPY and caps the gain at 15.6%, over a period ending Sep 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 15%

Outcome period Mar 31, 2026 to Mar 31, 2027 Sep 30, 2026 to Sep 30, 2027

Days left 154 337

Starting cap +18.5% +15.6%

Can still gain 5.0% 14.4%

Fall before buffer 11.4% 1.1%

Protection left, index points 9.0% of 9.0% 15.0% of 15.0%

Index return this period +18.7% +1.2%

Fund return this period +12.4% +1.0%

State today At cap Open

Expense ratio 0.79% 0.79%

Net assets $417m $1.1bn

As of Oct 28, 2026. Source: ETFIQ.

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

They do not reset together. BAPR has 154 days of its period left and POCT has 337, so the two are not the same bet on the same months.

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

BAPR resets first, on Mar 31, 2027, 154 days from now; POCT runs to Sep 30, 2027, 337 days. BAPR can still gain 5.0% before its cap, POCT 14.4%. A fall from here reaches BAPR’s buffer after 11.4% and POCT’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.

Client brief · page 1 of 2 Report BR-441CFB7D6D

BAPR and POCT are built for the same job. How do they differ in cost, holdings and results?

Protection and cap. BAPR: Absorbs the first 9% of loss on SPY and caps the gain at 18.5%, over a period ending Mar 31, 2027. POCT: Absorbs the first 15% of loss on SPY and caps the gain at 15.6%, over a period ending Sep 30, 2027. The starting caps are 2.9 points apart.
Outcome period. BAPR runs Mar 31, 2026 to Mar 31, 2027 with 154 days left; POCT runs Sep 30, 2026 to Sep 30, 2027 with 337 days left.
One-year total return. Over 1 year to Oct 28, 2026 BAPR returned +16.2% and POCT +10.7% with distributions reinvested, a gap of 5.5 points.

Data as of Oct 28, 2026.

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About each fund

BAPR

SPY had already risen past this fund's cap of +18.5% for the period on Oct 28, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 5.0% as the period runs out. The fund's price can fall 11.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 15.7% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 154 days remained on Oct 28, 2026. On Mar 31, 2027 the period ends and a new cap is set.

POCT

From its price on Oct 28, 2026, the fund can gain about 14.4% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.2% 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. 337 days remained on Oct 28, 2026. On Sep 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BAPR or POCT?: From their prices on Oct 28, 2026, BAPR can gain about 5.0% before its cap and POCT about 14.4%, so POCT has more room left this period.
Which resets first, BAPR or POCT?: BAPR ends its outcome period on Mar 31, 2027 and POCT on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, BAPR or POCT?: BAPR and POCT both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAPR vs UJUL BAPR vs UOCT BAPR vs UJAN BAPR vs XMAR POCT vs DOCT POCT vs DSEP POCT vs GJAN POCT vs DJAN

Where to next

SPY →BAPR on its own →POCT on its own →Method →Standards and sources →

Sources and dates

BAPR and POCT filings on SEC EDGAR ↗

Innovator page for BAPR ↗

Innovator page for POCT ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, BAPR against POCT, data as of Oct 28, 2026. https://etfiq.com/compare/buffer/bapr-vs-poct

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