Data as of .
BNOV vs DHDG: which one stands where?
As of Sep 21, 2026 BNOV can fall 11.6% before its buffer engages and DHDG 5.3%, and DHDG resets 15 days sooner.
ETFIQ Downside Cover Score: DHDG scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it · How it is computed
Where each one stands today
DHDG resets first, on Oct 16, 2026, 25 days from now; BNOV runs to Oct 31, 2026, 40 days. BNOV can still gain 4.0% before its cap, DHDG 1.3%. A fall from here reaches BNOV’s buffer after 11.6% and DHDG’s after 5.3%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| BNOV | DHDG | BNOV | DHDG | |
| 3 months | +2.4% | +3.3% | +0.1 pts | +1.1 pts |
| 6 months | +14.2% | +11.9% | −3.9 pts | −6.1 pts |
| 1 year | +13.0% | +14.5% | −3.5 pts | −2.0 pts |
| 3 years | +44.4% | not published | −34.0 pts | not published |
| BNOV Innovator U.S. Equity Buffer ETF - Nov Absorbs the first 9% of loss on SPY and caps the gain at 17.6%, over a period ending Oct 31, 2026 | DHDG FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF Absorbs losses from 2.5% to 15.0% on SPY and caps the gain at 4.3%, over a period ending Oct 16, 2026 | |
|---|---|---|
| Issuer | Innovator | First Trust |
| Reference index | SPY | SPY |
| Buffer | 9% | 2% to 15% |
| Outcome period | Oct 31, 2025 to Oct 31, 2026 | Jul 20, 2026 to Oct 16, 2026 |
| Days left | 40 | 25 |
| Starting cap | +17.6% | +4.3% |
| Can still gain | 4.0% | 1.3% |
| Fall before buffer | 11.6% | 5.3% |
| Protection left, index points | 9.0% of 9.0% | 12.5% of 12.5% |
| Index return this period | +13.5% | +4.1% |
| Fund return this period | +12.3% | +2.8% |
| State today | Open | Open |
| Expense ratio | 0.79% | 0.85% |
| Net assets | $199m | $76m |
BNOV in plain words
From its price on Sep 21, 2026, the fund can gain about 4.0% more before it reaches its cap. The fund's price can fall 11.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.9% 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. 40 days remained on Sep 21, 2026. On Oct 31, 2026 the period ends and a new cap is set.
DHDG in plain words
From its price on Sep 21, 2026, the fund can gain about 1.3% more before it reaches its cap. The fund's price can fall 5.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 6.3% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level. 25 days remained on Sep 21, 2026. On Oct 16, 2026 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, BNOV or DHDG?
- From their prices on Sep 21, 2026, BNOV can gain about 4.0% before its cap and DHDG about 1.3%, so BNOV has more room left this period.
- Which resets first, BNOV or DHDG?
- BNOV ends its outcome period on Oct 31, 2026 and DHDG on Oct 16, 2026. A new cap is set the day after each.
- Which is cheaper, BNOV or DHDG?
- BNOV charges 0.79% a year and DHDG charges 0.85%, so BNOV is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, BNOV against DHDG, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/bnov-vs-dhdg Free to use with attribution; the underlying files are at Open data.