Data as of Nov 4, 2026.
BSEP vs DLAG: Cap, Buffer & Days Left
As of Nov 4, 2026 DLAG can fall 1.8% before its buffer engages and BSEP 0.6%, and DLAG resets 11 days sooner.
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Net assets: $462m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Sep, and $20m on Nov 3, 2026 for FT Vest U.S. Equity Dual Directional Buffer ETF - August.
BSEP: reference −0.1% since period start, fund +0.5%; buffer 0 to −9; cap +19.8%; Buffer working. Data to Nov 4, 2026.
BSEP: reference −0.1% since period start, fund +0.5%; buffer 0 to −9; cap +19.8%; Buffer working. Data to Nov 4, 2026.DLAG: reference +0.1% since period start, fund +0.9%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 4, 2026.
DLAG: reference +0.1% since period start, fund +0.9%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
BSEP costs 0.06 points a year less; their one-year returns differ by 1.9 points; BSEP is far larger, $459m against $20m.
Points (pts) are percentage points.
| Measure | BSEP | DLAG |
|---|---|---|
| Return | ||
| Total return, 1 year | +12.1% | +10.2% |
| Drawdown | ||
| Index fall to the buffer | 0.0% | 0.1% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $459m | $20m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BSEP | DLAG | BSEP | DLAG |
| 3 months | +1.3% | +1.2% | +1.7 pts | +1.6 pts |
| 6 months | +5.0% | +4.1% | +0.5 pts | −0.4 pts |
| 1 year | +12.1% | +10.2% | −1.5 pts | −3.4 pts |
| 3 years | +59.6% | – | −16.8 pts | – |
| Since launchNot the same days: BSEP Sep 2019 · DLAG Sep 2025 | +125.0% | +10.7% | −38.7 pts | −4.3 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. DLAG is a floor fund, which caps how far a holder can fall. BSEP 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
DLAG resets first, on Aug 20, 2027, 289 days from now; BSEP runs to Aug 31, 2027, 300 days. BSEP can still gain 19.0% before its cap, DLAG 11.6%. A fall from here reaches BSEP’s buffer after 0.6% and DLAG’s after 1.8%. Both track SPY, so what separates them is where each is in its own period.
BSEP
From its price on Nov 4, 2026, the fund can gain about 19.0% more before it reaches its cap. The fund's price can fall 0.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 8.9% of the 9.0% buffer still sits below today's SPY level. 300 days remained on Nov 4, 2026. On Aug 31, 2027 the period ends and a new cap is set.
DLAG
From its price on Nov 4, 2026, the fund can gain about 11.6% more before it reaches its cap. The fund's price can fall 1.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.1% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 289 days remained on Nov 4, 2026. On Aug 20, 2027 the period ends and a new cap is set.
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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.
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ETFIQ, BSEP against DLAG, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bsep-vs-dlag
ETFIQ. (Nov 4, 2026). BSEP against DLAG. Retrieved from https://etfiq.com/compare/buffer/bsep-vs-dlag
[BSEP against DLAG (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bsep-vs-dlag)
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