BNOV vs XOCT: Cap, Buffer & Days Left
As of Oct 13, 2026 BNOV can fall 12.5% before its buffer engages and XOCT 9.4%, and XOCT resets 15 days sooner. Net assets on Oct 13, 2026: $201m for Innovator U.S. Equity Buffer ETF - Nov and $38m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October.
BNOV costs 0.06 points a year less; their one-year returns differ by 5.0 points; BNOV is 5.2 times larger.
Points (pts) are percentage points.
| BNOV | XOCT | |
|---|---|---|
| Expense ratio | 0.79% | 0.85% |
| Net assets | $201m | $38m |
| Total return, 1 year | +14.6% | +9.6% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 12.3% | 14.6% |
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.
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.
XOCT: reference +17.1% since period start, fund +9.4%; buffer 0 to −15; cap +10.3%; At its cap. Figures to Oct 13, 2026.
XOCT: reference +17.1% since period start, fund +9.4%; buffer 0 to −15; cap +10.3%; At its cap. Figures to Oct 13, 2026.
These are two different products. XOCT 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.
XOCT is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
XOCT resets first, on Oct 16, 2026, 3 days from now; BNOV runs to Oct 31, 2026, 18 days. BNOV can still gain 3.0% before its cap, XOCT 0.0%. A fall from here reaches BNOV’s buffer after 12.5% and XOCT’s after 9.4%. 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 | XOCT | BNOV | XOCT |
| 3 months | +3.7% | +2.0% | +0.2 pts | −1.5 pts |
| 6 months | +10.5% | +5.4% | −1.5 pts | −6.6 pts |
| 1 year | +14.6% | +9.6% | −2.7 pts | −7.8 pts |
| 3 years | +51.2% | not published | −29.1 pts | not published |
| Since launch Not the same days: BNOV Nov 2019 · XOCT Oct 2023 | +94.4% | +33.6% | −59.8 pts | −51.4 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
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 XOCT
SPY had already risen past this fund's cap of +10.3% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.0% as the period runs out. The fund's price can fall 9.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 14.6% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 3 days remained on Oct 13, 2026. On Oct 16, 2026 the period ends and a new cap is set.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.
How this is computed
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 XOCT, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bnov-vs-xoct
ETFIQ. (Oct 13, 2026). BNOV against XOCT. Retrieved from https://etfiq.com/compare/buffer/bnov-vs-xoct
[BNOV against XOCT (ETFIQ, Oct 13, 2026)](https://etfiq.com/compare/buffer/bnov-vs-xoct)
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