Which has more room to gain, BMAY or DDFY?

From their prices on Nov 4, 2026, BMAY can gain about 10.1% before its cap and DDFY about 5.2%, so BMAY has more room left this period.

Which resets first, BMAY or DDFY?

BMAY ends its outcome period on Apr 30, 2027 and DDFY on Apr 30, 2027. A new cap is set the day after each.

Which is cheaper, BMAY or DDFY?

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

Data as of Nov 4, 2026.

Buffer ETFs

BMAY vs DDFY: Cap, Buffer & Days Left

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As of Nov 4, 2026 BMAY can fall 5.9% before its buffer engages and DDFY 4.8%.

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Net assets on Nov 4, 2026: $182m for Innovator U.S. Equity Buffer ETF - May and $77m for Innovator Equity Dual Directional 15 Buffer ETF - May.

BMAY on its own →DDFY on its own →

At a glance

5.9%

BMAY can fall this far before its buffer

4.8%

DDFY can fall this far before its buffer

10.1%

BMAY can still gain

5.2%

DDFY can still gain

BMAY Between buffer and cap

BMAY: reference +6.7% since period start, fund +5.8%; buffer 0 to −9; cap +16.9%; Between buffer and cap. Data to Nov 4, 2026.

DDFY Between buffer and cap

DDFY: reference +6.7% since period start, fund +4.7%; buffer 0 to −15; cap +10.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; BMAY is 2.4 times larger.

Points (pts) are percentage points.

BMAY vs DDFY: Cap, Buffer & Days Left
Measure	BMAY	DDFY
Return
Measure	BMAY	DDFY
Total return, 1 year	+10.9%	not published
Drawdown
Measure	BMAY	DDFY
Index fall to the buffer	6.2%
Benchmark
Measure	BMAY	DDFY
What it tracks	SPY	SPY
Cost and size
Measure	BMAY	DDFY
Expense ratio	0.79%	0.79%
Net assets	$182m	$77m
Holdings
Measure	BMAY	DDFY
Holdings in common	not published

Method

Window by window

Window by window: BMAY vs DDFY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BMAY	DDFY	BMAY	DDFY
3 months	+0.8%	+1.5%	+1.2 pts	+1.9 pts
6 months	+4.5%	+3.7%	0.0 pts	−0.8 pts
1 year	+10.9%	–	−2.6 pts	–
3 years	+54.8%	–	−21.6 pts	–
Since launchNot the same days: BMAY May 2020 · DDFY May 2026	+93.8%	+4.2%	−77.4 pts	−2.2 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

BMAY Innovator U.S. Equity Buffer ETF - May · Absorbs the first 9% of loss on SPY and caps the gain at 16.9%, over a period ending Apr 30, 2027 DDFY Innovator Equity Dual Directional 15 Buffer ETF - May · Absorbs the first 15% of loss on SPY and caps the gain at 10.5%, over a period ending Apr 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 15%

Outcome period Apr 30, 2026 to Apr 30, 2027 Apr 30, 2026 to Apr 30, 2027

Days left 177 177

Starting cap +16.9% +10.5%

Can still gain 10.1% 5.2%

Fall before buffer 5.9% 4.8%

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

Index return this period +6.7% +6.7%

Fund return this period +5.8% +4.7%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $182m $77m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. DDFY is a floor fund, which caps how far a holder can fall. BMAY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

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

Where each one stands today

BMAY resets first, on Apr 30, 2027, 177 days from now; DDFY runs to Apr 30, 2027, 177 days. BMAY can still gain 10.1% before its cap, DDFY 5.2%. A fall from here reaches BMAY’s buffer after 5.9% and DDFY’s after 4.8%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

BMAY

From its price on Nov 4, 2026, the fund can gain about 10.1% more before it reaches its cap. The fund's price can fall 5.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.2% 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. 177 days remained on Nov 4, 2026. On Apr 30, 2027 the period ends and a new cap is set.

DDFY

From its price on Nov 4, 2026, the fund can gain about 5.2% more before it reaches its cap. The fund's price can fall 4.8% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BMAY or DDFY?: From their prices on Nov 4, 2026, BMAY can gain about 10.1% before its cap and DDFY about 5.2%, so BMAY has more room left this period.
Which resets first, BMAY or DDFY?: BMAY ends its outcome period on Apr 30, 2027 and DDFY on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, BMAY or DDFY?: BMAY and DDFY both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BMAY vs DAPR BMAY vs UMAY BMAY vs ZMAY BMAY vs SIXZ DDFY vs GAPR DDFY vs FAPR DDFY vs HMAY DDFY vs MAYC

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →BMAY on its own →DDFY on its own →Method →Standards and sources →

Sources and dates

BMAY and DDFY filings on SEC EDGAR ↗

Innovator page for BMAY ↗

Innovator page for DDFY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

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, BMAY against DDFY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bmay-vs-ddfy

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