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BFEB vs FEBT: Cap, Buffer & Days Left

As of Oct 13, 2026 BFEB can fall 9.7% before its buffer engages and FEBT 9.6%. Net assets on Oct 12, 2026: $208m for Innovator U.S. Equity Buffer ETF - Feb and $163m for AllianzIM U.S. Equity Buffer10 ETF - Feb.

FEBT costs 0.05 points a year less; their one-year returns differ by 0.7 points; BFEB is 1.3 times larger.

Points (pts) are percentage points.

BFEB vs FEBT: Cap, Buffer & Days Left
BFEBFEBT
Expense ratio0.79%0.74%
Net assets, as of Oct 12, 2026$208m$163m
Total return, 1 year+17.3%+16.6%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer11.0%
9.7%
BFEB can fall this far before its buffer
9.6%
FEBT can fall this far before its buffer
5.3%
BFEB can still gain
4.6%
FEBT can still gain
BFEBBetween buffer and cap
Between buffer and capBFEB: reference +12.3% since period start, fund +10.1%; buffer 0 to −9; cap +16.6%; Between buffer and cap. Figures to Oct 13, 2026.9 pts of buffer+12.3% gain captured+4.3% to cap−9.0% floor0% period start+16.6% capTODAY · SPY +12.3%Between buffer and capBFEB: reference +12.3% since period start, fund +10.1%; buffer 0 to −9; cap +16.6%; Between buffer and cap. Figures to Oct 13, 2026.9 pts+12.3% gained−9.0% floor0% start+16.6% cap+4.3% more to the capTODAY · SPY +12.3%

BFEB: reference +12.3% since period start, fund +10.1%; buffer 0 to −9; cap +16.6%; Between buffer and cap. Figures to Oct 13, 2026.

BFEB: reference +12.3% since period start, fund +10.1%; buffer 0 to −9; cap +16.6%; Between buffer and cap. Figures to Oct 13, 2026.

FEBTBetween buffer and cap
Between buffer and capFEBT: reference +12.3% since period start, fund +9.7%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Figures to Oct 13, 2026.10 pts of buffer+12.3% gain captured−10.0% floor0% period start+15.5% cap+3.1% more to the capTODAY · SPY +12.3%Between buffer and capFEBT: reference +12.3% since period start, fund +9.7%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Figures to Oct 13, 2026.10 pts+12.3% gained−10.0% floor0% start+15.5% cap+3.1% more to the capTODAY · SPY +12.3%

FEBT: reference +12.3% since period start, fund +9.7%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Figures to Oct 13, 2026.

FEBT: reference +12.3% since period start, fund +9.7%; buffer 0 to −10; cap +15.5%; Between buffer and cap. Figures to Oct 13, 2026.

ETFIQ Downside Cover Score · FEBT 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 →

Where each one stands today

BFEB resets first, on Jan 31, 2027, 110 days from now; FEBT runs to Jan 31, 2027, 110 days. BFEB can still gain 5.3% before its cap, FEBT 4.6%. A fall from here reaches BFEB’s buffer after 9.7% and FEBT’s after 9.6%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BFEB vs FEBT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBFEBFEBTBFEBFEBT
3 months+3.7%+3.6%−0.1 pts−0.3 pts
6 months+10.2%+9.9%−3.2 pts−3.5 pts
1 year+17.3%+16.6%−1.8 pts−2.6 pts
3 years+62.9%+61.8%−17.5 pts−18.6 pts
Since launch
Not the same days: BFEB Feb 2020 · FEBT Feb 2023
+121.7%+70.1%−18.4 pts−19.3 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

BFEB
Innovator U.S. Equity Buffer ETF - Feb · Absorbs the first 9% of loss on SPY and caps the gain at 16.6%, over a period ending Jan 31, 2027
FEBT
AllianzIM U.S. Equity Buffer10 ETF - Feb · Absorbs the first 10% of loss on SPY and caps the gain at 15.5%, over a period ending Jan 31, 2027
Issuer Innovator AllianzIM
Reference index SPY SPY
Buffer 9% 10%
Outcome period Jan 31, 2026 to Jan 31, 2027 Feb 1, 2026 to Jan 31, 2027
Days left 110 110
Starting cap +16.6% +15.5%
Can still gain 5.3% 4.6%
Fall before buffer 9.7% 9.6%
Protection left, index points 9.0% of 9.0% 10.0% of 10.0%
Index return this period +12.3% +12.3%
Fund return this period +10.1% +9.7%
State today Open Open
Expense ratio 0.79% 0.74%
Net assets, as of Oct 12, 2026 $208m $163m

As of Oct 13, 2026. Source: ETFIQ.

About BFEB

From its price on Oct 13, 2026, the fund can gain about 5.3% more before it reaches its cap. The fund's price can fall 9.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.0% 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. 110 days remained on Oct 13, 2026. On Jan 31, 2027 the period ends and a new cap is set.

About FEBT

From its price on Oct 13, 2026, the fund can gain about 4.6% more before it reaches its cap. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's figure. 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, BFEB or FEBT?
From their prices on Oct 13, 2026, BFEB can gain about 5.3% before its cap and FEBT about 4.6%, so BFEB has more room left this period.
Which resets first, BFEB or FEBT?
BFEB ends its outcome period on Jan 31, 2027 and FEBT on Jan 31, 2027. A new cap is set the day after each.
Which is cheaper, BFEB or FEBT?
BFEB charges 0.79% a year and FEBT charges 0.74%, so FEBT is cheaper. Fees come from each fund's prospectus.
Other comparisons
BFEB vs UFEBBFEB vs ZFEBBFEB vs FEBWBFEB vs XJANFEBT vs FEBWFEBT vs UFEBFEBT vs ZFEBFEBT vs GJAN
SPY →BFEB on its own →FEBT on its own →How every figure is computed →Standards and sources →
Where these figures came from
BFEB filings on SEC EDGAR ↗Innovator page for BFEB ↗FEBT filings on SEC EDGAR ↗AllianzIM page for FEBT ↗

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, BFEB against FEBT, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bfeb-vs-febt

Open data

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