Which has more room to gain, BAPR or SIXO?

From their prices on Oct 9, 2026, BAPR can gain about 5.0% before its cap and SIXO about 6.1%, so SIXO has more room left this period.

Which resets first, BAPR or SIXO?

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

Which is cheaper, BAPR or SIXO?

BAPR charges 0.79% a year and SIXO charges 0.74%, so SIXO is cheaper. Fees come from each fund's prospectus.

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BAPR vs SIXO: Cap, Buffer & Days Left

As of Oct 9, 2026 BAPR can fall 11.5% before its buffer engages and SIXO 1.5%. Net assets: $417m on Oct 9, 2026 for Innovator U.S. Equity Buffer ETF - Apr, and $120m on Oct 8, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Apr.

SIXO costs 0.05 points a year less; their one-year returns differ by 8.7 points; BAPR is 3.5 times larger.

Points (pts) are percentage points.

BAPR vs SIXO: Cap, Buffer & Days Left
	BAPR	SIXO
Expense ratio	0.79%	0.74%
Net assets, as of Oct 8, 2026	$416m	$120m
Total return, 1 year	+17.3%	+8.6%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	16.5%	2.0%

11.5%

BAPR can fall this far before its buffer

1.5%

SIXO can fall this far before its buffer

5.0%

BAPR can still gain

6.1%

SIXO can still gain

BAPRAt its cap

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.

SIXOBetween buffer and cap

SIXO: reference +2.1% since period start, fund +1.1%; buffer 0 to −10; cap +7.7%; Between buffer and cap. Figures to Oct 9, 2026.

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

BAPR 14.9

SIXO 36.6

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.

Where each one stands today

BAPR resets first, on Mar 31, 2027, 173 days from now; SIXO runs to Mar 31, 2027, 173 days. BAPR can still gain 5.0% before its cap, SIXO 6.1%. A fall from here reaches BAPR’s buffer after 11.5% and SIXO’s after 1.5%. 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 SIXO: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BAPR	SIXO	BAPR	SIXO
3 months	+2.9%	+2.6%	−0.3 pts	−0.5 pts
6 months	+9.0%	+7.0%	−5.6 pts	−7.6 pts
1 year	+17.3%	+8.6%	+1.3 pts	−7.4 pts
3 years	+55.5%	+34.4%	−23.7 pts	−44.8 pts
Since launch Not the same days: BAPR Apr 2019 · SIXO Oct 2021	+118.1%	+47.1%	−54.3 pts	−32.2 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

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

SIXO

AllianzIM U.S. Equity Buffer10 ETF - Apr · Absorbs the first 10% of loss on SPY and caps the gain at 7.7%, over a period ending Mar 31, 2027

Issuer Innovator AllianzIM

Reference index SPY SPY

Buffer 9% 10%

Outcome period Mar 31, 2026 to Mar 31, 2027 Oct 1, 2026 to Mar 31, 2027

Days left 173 173

Starting cap +18.5% +7.7%

Can still gain 5.0% 6.1%

Fall before buffer 11.5% 1.5%

Protection left, index points 9.0% of 9.0% 10.0% of 10.0%

Index return this period +19.7% +2.1%

Fund return this period +12.4% +1.1%

State today At cap Open

Expense ratio 0.79% 0.74%

Net assets, BAPR as of Oct 9, 2026 and SIXO as of Oct 8, 2026 $417m $120m

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 SIXO

From its price on Oct 9, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 1.5% 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: 10.0% of the 10.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BAPR or SIXO?: From their prices on Oct 9, 2026, BAPR can gain about 5.0% before its cap and SIXO about 6.1%, so SIXO has more room left this period.
Which resets first, BAPR or SIXO?: BAPR ends its outcome period on Mar 31, 2027 and SIXO on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, BAPR or SIXO?: BAPR charges 0.79% a year and SIXO charges 0.74%, so SIXO is cheaper. Fees come from each fund's prospectus.

Other comparisons

BAPR vs XBAP BAPR vs MARM BAPR vs UAPR BAPR vs XMAR SIXO vs DSEP SIXO vs ZALT SIXO vs POCT SIXO vs FSEP

SPY →BAPR on its own →SIXO on its own →How every figure is computed →Standards and sources →

Where these figures came from

BAPR filings on SEC EDGAR ↗Innovator page for BAPR ↗SIXO filings on SEC EDGAR ↗AllianzIM page for SIXO ↗

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 SIXO, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bapr-vs-sixo

Open data

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