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BAPR vs POCT: Cap, Buffer & Days Left

As of Oct 9, 2026 BAPR can fall 11.5% before its buffer engages and POCT 1.2%, and BAPR resets 183 days sooner. Net assets on Oct 9, 2026: $417m for Innovator U.S. Equity Buffer ETF - Apr and $1.1bn for Innovator U.S. Equity Power Buffer ETF - Oct.

Both cost 0.79% a year; their one-year returns differ by 5.1 points; POCT is 2.5 times larger.

Points (pts) are percentage points.

BAPR vs POCT: Cap, Buffer & Days Left
BAPRPOCT
Expense ratio0.79%0.79%
Net assets$417m$1.1bn
Total return, 1 year+17.3%+12.2%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer16.5%2.0%
11.5%
BAPR can fall this far before its buffer
1.2%
POCT can fall this far before its buffer
5.0%
BAPR can still gain
14.2%
POCT can still gain
BAPRAt its cap
At its capBAPR: reference +19.7% since period start, fund +12.4%; buffer 0 to −9; cap +18.5%; At its cap. Figures to Oct 9, 2026.9 pts of buffer+18.5% gain captured−9.0% floor0% period start+18.5% capTODAY · SPY +19.7%At its capBAPR: reference +19.7% since period start, fund +12.4%; buffer 0 to −9; cap +18.5%; At its cap. Figures to Oct 9, 2026.9 pts+18.5% gained−9.0% floor0% start+18.5% capTODAY · SPY +19.7%

BAPR: reference +19.7% since period start, fund +12.4%; buffer 0 to −9; cap +18.5%; At its cap. Figures to Oct 9, 2026.

BAPR: reference +19.7% since period start, fund +12.4%; buffer 0 to −9; cap +18.5%; At its cap. Figures to Oct 9, 2026.

POCTBetween buffer and cap
Between buffer and capPOCT: reference +2.1% since period start, fund +1.2%; buffer 0 to −15; cap +15.6%; Between buffer and cap. Figures to Oct 9, 2026.15 pts of buffer+13.5% more to the cap−15.0% floor0% period start+15.6% cap+2.1% gain capturedTODAY · SPY +2.1%Between buffer and capPOCT: reference +2.1% since period start, fund +1.2%; buffer 0 to −15; cap +15.6%; Between buffer and cap. Figures to Oct 9, 2026.15 pts−15.0% floor0% start+15.6% cap+2.1% gain captured+13.5% more to the capTODAY · SPY +2.1%

POCT: reference +2.1% since period start, fund +1.2%; buffer 0 to −15; cap +15.6%; Between buffer and cap. Figures to Oct 9, 2026.

POCT: reference +2.1% since period start, fund +1.2%; buffer 0 to −15; cap +15.6%; Between buffer and cap. Figures to Oct 9, 2026.

ETFIQ Downside Cover Score · POCT 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 →

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 173 days of its period left and POCT has 356, 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, 173 days from now; POCT runs to Sep 30, 2027, 356 days. BAPR can still gain 5.0% before its cap, POCT 14.2%. A fall from here reaches BAPR’s buffer after 11.5% and POCT’s after 1.2%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BAPR vs POCT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBAPRPOCTBAPRPOCT
3 months+2.9%+3.8%−0.3 pts+0.7 pts
6 months+9.0%+9.8%−5.6 pts−4.8 pts
1 year+17.3%+12.2%+1.3 pts−3.9 pts
3 years+55.5%+41.4%−23.7 pts−37.8 pts
Since launch
Not the same days: BAPR Apr 2019 · POCT Oct 2018
+118.1%+101.5%−54.3 pts−65.4 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

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 173 356
Starting cap +18.5% +15.6%
Can still gain 5.0% 14.2%
Fall before buffer 11.5% 1.2%
Protection left, index points 9.0% of 9.0% 15.0% of 15.0%
Index return this period +19.7% +2.1%
Fund return this period +12.4% +1.2%
State today At cap Open
Expense ratio 0.79% 0.79%
Net assets $417m $1.1bn

As of Oct 9, 2026. Source: ETFIQ.

About BAPR

SPY had already risen past this fund's cap of +18.5% for the period on Oct 9, 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 11.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 16.5% 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. 173 days remained on Oct 9, 2026. On Mar 31, 2027 the period ends and a new cap is set.

About POCT

From its price on Oct 9, 2026, the fund can gain about 14.2% more before it reaches its cap. The fund's price can fall 1.2% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 356 days remained on Oct 9, 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 9, 2026, BAPR can gain about 5.0% before its cap and POCT about 14.2%, 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 DAPRBAPR vs BOCTBAPR vs UJULBAPR vs UJANPOCT vs DSEPPOCT vs DOCTPOCT vs GJANPOCT vs DJAN
SPY →BAPR on its own →POCT on its own →How every figure is computed →Standards and sources →
Where these figures came from
BAPR and POCT filings on SEC EDGAR ↗Innovator page for BAPR ↗Innovator page for POCT ↗

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, BAPR against POCT, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bapr-vs-poct

Open data

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