Which has more room to gain, BNOV or DDFN?

From their prices on Nov 4, 2026, BNOV can gain about 18.9% before its cap and DDFN about 10.1%, so BNOV has more room left this period.

Which resets first, BNOV or DDFN?

BNOV ends its outcome period on Oct 31, 2027 and DDFN on Oct 31, 2027. A new cap is set the day after each.

Which is cheaper, BNOV or DDFN?

BNOV and DDFN 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

BNOV vs DDFN: Cap, Buffer & Days Left

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As of Nov 4, 2026 BNOV can fall 1.1% before its buffer engages and DDFN 0.9%.

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Net assets on Nov 4, 2026: $198m for Innovator U.S. Equity Buffer ETF - Nov and $74m for Innovator Equity Dual Directional 15 Buffer ETF - Nov.

BNOV on its own →DDFN on its own →

At a glance

1.1%

BNOV can fall this far before its buffer

0.9%

DDFN can fall this far before its buffer

18.9%

BNOV can still gain

10.1%

DDFN can still gain

BNOV Between buffer and cap

BNOV: reference +1.4% since period start, fund +1.1%; buffer 0 to −9; cap +20.3%; Between buffer and cap. Data to Nov 4, 2026.

DDFN Between buffer and cap

DDFN: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +11.1%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 1.8 points; BNOV is 2.7 times larger.

Points (pts) are percentage points.

BNOV vs DDFN: Cap, Buffer & Days Left
Measure	BNOV	DDFN
Return
Measure	BNOV	DDFN
Total return, 1 year	+12.0%	+10.2%
Drawdown
Measure	BNOV	DDFN
Index fall to the buffer	1.4%
Benchmark
Measure	BNOV	DDFN
What it tracks	SPY	SPY
Cost and size
Measure	BNOV	DDFN
Expense ratio	0.79%	0.79%
Net assets	$198m	$74m
Holdings
Measure	BNOV	DDFN
Holdings in common	not published

Method

Window by window

Window by window: BNOV vs DDFN: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BNOV	DDFN	BNOV	DDFN
3 months	+0.2%	+2.7%	+0.6 pts	+3.1 pts
6 months	+4.5%	+5.4%	0.0 pts	+0.9 pts
1 year	+12.0%	+10.2%	−1.6 pts	−3.3 pts
3 years	+49.2%	–	−27.2 pts	–
Since launchNot the same days: BNOV Nov 2019 · DDFN Nov 2025	+91.2%	+9.7%	−59.3 pts	−2.5 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

BNOV Innovator U.S. Equity Buffer ETF - Nov · Absorbs the first 9% of loss on SPY and caps the gain at 20.3%, over a period ending Oct 31, 2027 DDFN Innovator Equity Dual Directional 15 Buffer ETF - Nov · Absorbs the first 15% of loss on SPY and caps the gain at 11.1%, over a period ending Oct 31, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 15%

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

Days left 361 361

Starting cap +20.3% +11.1%

Can still gain 18.9% 10.1%

Fall before buffer 1.1% 0.9%

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

Index return this period +1.4% +1.4%

Fund return this period +1.1% +0.9%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $198m $74m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. DDFN is a floor fund, which caps how far a holder can fall. BNOV 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

BNOV resets first, on Oct 31, 2027, 361 days from now; DDFN runs to Oct 31, 2027, 361 days. BNOV can still gain 18.9% before its cap, DDFN 10.1%. A fall from here reaches BNOV’s buffer after 1.1% and DDFN’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

BNOV

From its price on Nov 4, 2026, the fund can gain about 18.9% 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 1.4% 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. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.

DDFN

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 0.9% 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, BNOV or DDFN?: From their prices on Nov 4, 2026, BNOV can gain about 18.9% before its cap and DDFN about 10.1%, so BNOV has more room left this period.
Which resets first, BNOV or DDFN?: BNOV ends its outcome period on Oct 31, 2027 and DDFN on Oct 31, 2027. A new cap is set the day after each.
Which is cheaper, BNOV or DDFN?: BNOV and DDFN both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BNOV vs NVBW BNOV vs UNOV BNOV vs ZNOV BNOV vs CPSN DDFN vs ZNOV DDFN vs UNOV DDFN vs NVBW DDFN vs GOCT

Where to next

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

Sources and dates

BNOV and DDFN filings on SEC EDGAR ↗

Innovator page for BNOV ↗

Innovator page for DDFN ↗

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, BNOV against DDFN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bnov-vs-ddfn

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