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Data as of Nov 4, 2026.

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Buffer ETFs

BNOV vs XOCT: Cap, Buffer & Days Left

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As of Nov 4, 2026 XOCT can fall 1.3% before its buffer engages and BNOV 1.1%, and XOCT resets 16 days sooner.

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Net assets: $198m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Nov, and $38m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October.

BNOV on its own →XOCT on its own →
At a glance
1.1%
BNOV can fall this far before its buffer
1.3%
XOCT can fall this far before its buffer
18.9%
BNOV can still gain
10.1%
XOCT can still gain
BNOV Between buffer and cap
Between buffer and capBNOV: reference +1.4% since period start, fund +1.1%; buffer 0 to −9; cap +20.3%; Between buffer and cap. Data to Nov 4, 2026.9 pts of buffer+18.9% more to the cap−9.0% floor0% period start+20.3% cap+1.4% gain capturedTODAY · SPY +1.4%Between buffer and capBNOV: reference +1.4% since period start, fund +1.1%; buffer 0 to −9; cap +20.3%; Between buffer and cap. Data to Nov 4, 2026.9 pts+18.9% to cap−9.0% floor0% start+20.3% cap+1.4% gain capturedTODAY · SPY +1.4%

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.

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.
XOCT Between buffer and cap
Between buffer and capXOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −15; cap +11.5%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+11% more to the cap−15.0% floor0% period start+11.5% cap+0.5% gain capturedTODAY · SPY +0.5%Between buffer and capXOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −15; cap +11.5%; Between buffer and cap. Data to Nov 4, 2026.15 pts−15.0% floor0% start+11.5% cap+0.5% gain captured+11% more to the capTODAY · SPY +0.5%

XOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −15; cap +11.5%; Between buffer and cap. Data to Nov 4, 2026.

XOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −15; cap +11.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

BNOV costs 0.06 points a year less; their one-year returns differ by 2.5 points; BNOV is 5.1 times larger.

Points (pts) are percentage points.

BNOV vs XOCT: Cap, Buffer & Days Left
MeasureBNOVXOCT
Return
Total return, 1 year+12.0%+9.5%
Drawdown
Index fall to the buffer1.4%0.5%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.85%
Net assets, as of Nov 3, 2026$193m$38m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: BNOV vs XOCT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBNOVXOCTBNOVXOCT
3 months+0.2%+1.9%+0.6 pts+2.3 pts
6 months+4.5%+4.4%0.0 pts−0.1 pts
1 year+12.0%+9.5%−1.6 pts−4.0 pts
3 years+49.2%+31.7%−27.2 pts−44.7 pts
Since launchNot the same days: BNOV Nov 2019 · XOCT Oct 2023+91.2%+34.4%−59.3 pts−47.9 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. 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 XOCT FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October · Absorbs the first 15% of loss on SPY and caps the gain at 11.5%, over a period ending Oct 15, 2027
Issuer Innovator First Trust
Reference index SPY SPY
Buffer 9% 15%
Outcome period Oct 31, 2026 to Oct 31, 2027 Oct 19, 2026 to Oct 15, 2027
Days left 361 345
Starting cap +20.3% +11.5%
Can still gain 18.9% 10.1%
Fall before buffer 1.1% 1.3%
Protection left, index points 9.0% of 9.0% 15.0% of 15.0%
Index return this period +1.4% +0.5%
Fund return this period +1.1% +0.5%
State today Open Open
Expense ratio 0.79% 0.85%
Net assets, BNOV as of Nov 4, 2026 and XOCT as of Nov 3, 2026 $198m $38m

As of Nov 4, 2026. Source: ETFIQ.

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.

Where each one stands today

XOCT resets first, on Oct 15, 2027, 345 days from now; BNOV runs to Oct 31, 2027, 361 days. BNOV can still gain 18.9% before its cap, XOCT 10.1%. A fall from here reaches BNOV’s buffer after 1.1% and XOCT’s after 1.3%. Both track SPY, so what separates them is where each is in its own period.

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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.

XOCT

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 1.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% 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. 345 days remained on Nov 4, 2026. On Oct 15, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, BNOV or XOCT?
From their prices on Nov 4, 2026, BNOV can gain about 18.9% before its cap and XOCT about 10.1%, so BNOV has more room left this period.
Which resets first, BNOV or XOCT?
BNOV ends its outcome period on Oct 31, 2027 and XOCT on Oct 15, 2027. A new cap is set the day after each.
Which is cheaper, BNOV or XOCT?
BNOV charges 0.79% a year and XOCT charges 0.85%, so BNOV is cheaper. Fees come from each fund's prospectus.
Other comparisons
BNOV vs CPSNBNOV vs PBNVBNOV vs OCTMBNOV vs NVBUXOCT vs ZNOVXOCT vs DHDGXOCT vs DDFNXOCT vs CPSN
Where to next
SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →BNOV on its own →XOCT on its own →Method →Standards and sources →
Sources and dates
BNOV filings on SEC EDGAR ↗
Innovator page for BNOV ↗
XOCT filings on SEC EDGAR ↗
First Trust page for XOCT ↗

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 XOCT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bnov-vs-xoct

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