Which has more room to gain, BNOV or UNOV?

From their prices on Oct 9, 2026, BNOV can gain about 3.1% before its cap and UNOV about 0.6%, so BNOV has more room left this period.

Which resets first, BNOV or UNOV?

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

Which is cheaper, BNOV or UNOV?

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

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BNOV vs UNOV: Cap, Buffer & Days Left

As of Oct 9, 2026 UNOV can fall 14.8% before its buffer engages and BNOV 12.5%. Net assets on Oct 9, 2026: $201m for Innovator U.S. Equity Buffer ETF - Nov and $107m for Innovator U.S. Equity Ultra Buffer ETF - Nov.

Both cost 0.79% a year; their one-year returns differ by 3.1 points; BNOV is 1.9 times larger.

	BNOV	UNOV
Expense ratio	0.79%	0.79%
Net assets	$201m	$107m
Total return, 1 year	+14.2%	+11.1%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	12.4%	16.8%

12.5%

BNOV can fall this far before its buffer

14.8%

UNOV can fall this far before its buffer

3.1%

BNOV can still gain

0.6%

UNOV can still gain

BNOVBetween buffer and cap

BNOV: reference +14.2% since period start, fund +13.3%; buffer 0 to −9; cap +17.6%; Between buffer and cap. Figures to Oct 9, 2026.

UNOVAt its cap

UNOV: reference +14.2% since period start, fund +10.6%; buffer −5 to −35; cap +12.0%; At its cap. Figures to Oct 9, 2026.

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

BNOV 9.8

UNOV 2.9

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 →

UNOV is already at its cap, so more rise in the index adds nothing to it before the period ends.

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, 2026, 22 days from now; UNOV runs to Oct 31, 2026, 22 days. BNOV can still gain 3.1% before its cap, UNOV 0.6%. A fall from here reaches BNOV’s buffer after 12.5% and UNOV’s after 14.8%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

	Total return		Gap to the reference's price return
Window	BNOV	UNOV	BNOV	UNOV
3 months	+3.5%	+3.3%	+0.4 pts	+0.1 pts
6 months	+12.3%	+9.6%	−2.3 pts	−5.0 pts
1 year	+14.2%	+11.1%	−1.8 pts	−4.9 pts
3 years	+50.1%	+35.5%	−29.0 pts	−43.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open the live comparison on ETFIQ →

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

UNOV

Innovator U.S. Equity Ultra Buffer ETF - Nov · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 12.0%, over a period ending Oct 31, 2026

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 9% 5% to 35%

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

Days left 22 22

Starting cap +17.6% +12.0%

Can still gain 3.1% 0.6%

Fall before buffer 12.5% 14.8%

Protection left, index points 9.0% of 9.0% 30.0% of 30.0%

Index return this period +14.2% +14.2%

Fund return this period +13.3% +10.6%

State today Open At cap

Expense ratio 0.79% 0.79%

Net assets $201m $107m

As of Oct 9, 2026. Source: ETFIQ.

BNOV in plain words

From its price on Oct 9, 2026, the fund can gain about 3.1% 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 12.4% 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. 22 days remained on Oct 9, 2026. On Oct 31, 2026 the period ends and a new cap is set.

UNOV in plain words

SPY had already risen past this fund's cap of +12.0% for the period on Oct 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.6% as the period runs out. The fund's price can fall 14.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 16.8% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BNOV or UNOV?: From their prices on Oct 9, 2026, BNOV can gain about 3.1% before its cap and UNOV about 0.6%, so BNOV has more room left this period.
Which resets first, BNOV or UNOV?: BNOV ends its outcome period on Oct 31, 2026 and UNOV on Oct 31, 2026. A new cap is set the day after each.
Which is cheaper, BNOV or UNOV?: BNOV and UNOV both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

BNOV vs SIXZ BNOV vs NVBU BNOV vs CPSN BNOV vs DDTN UNOV vs ZNOV UNOV vs XOCT UNOV vs CPSO UNOV vs GOCT

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

Where these figures came from

BNOV and UNOV filings on SEC EDGAR ↗Innovator page for BNOV ↗Innovator page for UNOV ↗

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 page

ETFIQ, BNOV against UNOV, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/bnov-vs-unov

Open data

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