Which has more room to gain, BNOV or NVBT?

From their prices on Oct 13, 2026, BNOV can gain about 3.0% before its cap and NVBT about 2.5%, so BNOV has more room left this period.

Which resets first, BNOV or NVBT?

BNOV ends its outcome period on Oct 31, 2026 and NVBT on Oct 31, 2026. A new cap is set the day after each.

Which is cheaper, BNOV or NVBT?

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

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BNOV vs NVBT: Cap, Buffer & Days Left

As of Oct 13, 2026 BNOV can fall 12.5% before its buffer engages and NVBT 12.4%. Net assets on Oct 13, 2026: $201m for Innovator U.S. Equity Buffer ETF - Nov and $30m for AllianzIM U.S. Equity Buffer10 ETF - Nov.

NVBT costs 0.05 points a year less; their one-year returns differ by 0.2 points; BNOV is 6.7 times larger.

Points (pts) are percentage points.

BNOV vs NVBT: Cap, Buffer & Days Left
	BNOV	NVBT
Expense ratio	0.79%	0.74%
Net assets	$201m	$30m
Total return, 1 year	+14.6%	+14.4%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	12.3%

12.5%

BNOV can fall this far before its buffer

12.4%

NVBT can fall this far before its buffer

3.0%

BNOV can still gain

2.5%

NVBT can still gain

BNOVBetween buffer and cap

BNOV: reference +14.1% since period start, fund +13.3%; buffer 0 to −9; cap +17.6%; Between buffer and cap. Figures to Oct 13, 2026.

NVBTBetween buffer and cap

NVBT: reference +14.1% since period start, fund +13.2%; buffer 0 to −10; cap +16.8%; Between buffer and cap. Figures to Oct 13, 2026.

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

BNOV 10.8

NVBT 11.1

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

BNOV resets first, on Oct 31, 2026, 18 days from now; NVBT runs to Oct 31, 2026, 18 days. BNOV can still gain 3.0% before its cap, NVBT 2.5%. A fall from here reaches BNOV’s buffer after 12.5% and NVBT’s after 12.4%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BNOV vs NVBT: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BNOV	NVBT	BNOV	NVBT
3 months	+3.7%	+3.9%	+0.2 pts	+0.4 pts
6 months	+10.5%	+10.5%	−1.5 pts	−1.6 pts
1 year	+14.6%	+14.4%	−2.7 pts	−2.9 pts
3 years	+51.2%	+49.3%	−29.1 pts	−31.0 pts
Since launch Not the same days: BNOV Nov 2019 · NVBT Nov 2022	+94.4%	+65.5%	−59.8 pts	−36.8 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

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

NVBT

AllianzIM U.S. Equity Buffer10 ETF - Nov · Absorbs the first 10% of loss on SPY and caps the gain at 16.8%, over a period ending Oct 31, 2026

Issuer Innovator AllianzIM

Reference index SPY SPY

Buffer 9% 10%

Outcome period Oct 31, 2025 to Oct 31, 2026 Nov 1, 2025 to Oct 31, 2026

Days left 18 18

Starting cap +17.6% +16.8%

Can still gain 3.0% 2.5%

Fall before buffer 12.5% 12.4%

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

Index return this period +14.1% +14.1%

Fund return this period +13.3% +13.2%

State today Open Open

Expense ratio 0.79% 0.74%

Net assets $201m $30m

As of Oct 13, 2026. Source: ETFIQ.

About BNOV

From its price on Oct 13, 2026, the fund can gain about 3.0% more before it reaches its cap. The fund's price can fall 12.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.3% 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. 18 days remained on Oct 13, 2026. On Oct 31, 2026 the period ends and a new cap is set.

About NVBT

From its price on Oct 13, 2026, the fund can gain about 2.5% more before it reaches its cap. The fund's price can fall 12.4% 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, BNOV or NVBT?: From their prices on Oct 13, 2026, BNOV can gain about 3.0% before its cap and NVBT about 2.5%, so BNOV has more room left this period.
Which resets first, BNOV or NVBT?: BNOV ends its outcome period on Oct 31, 2026 and NVBT on Oct 31, 2026. A new cap is set the day after each.
Which is cheaper, BNOV or NVBT?: BNOV charges 0.79% a year and NVBT charges 0.74%, so NVBT is cheaper. Fees come from each fund's prospectus.

Other comparisons

BNOV vs NOVP BNOV vs DDFN BNOV vs SIXZ BNOV vs DHDG NVBT vs GOCT NVBT vs UNOV NVBT vs ZNOV NVBT vs NVBW

SPY →BNOV on its own →NVBT on its own →How every figure is computed →Standards and sources →

Where these figures came from

BNOV filings on SEC EDGAR ↗Innovator page for BNOV ↗NVBT filings on SEC EDGAR ↗AllianzIM page for NVBT ↗

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, BNOV against NVBT, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bnov-vs-nvbt

Open data

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