{"url":"https://etfiq.com/compare/buffer/bsep-vs-usep","section":"compare","title":"BSEP vs USEP: Cap, Buffer & Days Left | ETFIQ","description":"As of Oct 21, 2026 BSEP can gain 18.5% before its cap and USEP 13.7%. Each can fall 1.1% and 5.9% before its buffer engages, on SPY.","as_of":"Oct 21, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which has more room to gain, BSEP or USEP?","acceptedAnswer":{"@type":"Answer","text":"From their prices on Oct 21, 2026, BSEP can gain about 18.5% before its cap and USEP about 13.7%, so BSEP has more room left this period."}},{"@type":"Question","name":"Which resets first, BSEP or USEP?","acceptedAnswer":{"@type":"Answer","text":"BSEP ends its outcome period on Aug 31, 2027 and USEP on Aug 31, 2027. A new cap is set the day after each."}},{"@type":"Question","name":"Which is cheaper, BSEP or USEP?","acceptedAnswer":{"@type":"Answer","text":"BSEP and USEP both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Buffer ETFs","item":"https://etfiq.com/buffer/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"BSEP vs USEP","item":"https://etfiq.com/compare/buffer/bsep-vs-usep"}]},{"@type":"WebPage","name":"BSEP vs USEP: Cap, Buffer & Days Left","description":"As of Oct 21, 2026 BSEP can gain 18.5% before its cap and USEP 13.7%. Each can fall 1.1% and 5.9% before its buffer engages, on SPY.","url":"https://etfiq.com/compare/buffer/bsep-vs-usep","dateModified":"2026-10-21","abstract":"As of Oct 21, 2026 USEP can fall 5.9% before its buffer engages and BSEP 1.1%.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of BSEP and USEP","description":"As of Oct 21, 2026 BSEP can gain 18.5% before its cap and USEP 13.7%. Each can fall 1.1% and 5.9% before its buffer engages, on SPY.","dateModified":"2026-10-21","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/buffer/bsep-vs-usep","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/funds.json"}],"variableMeasured":["Remaining cap","Fall before the buffer engages","Protection left in index points","Starting buffer","Outcome period","Reference index return","Fund return","Days remaining","Expense ratio"],"keywords":["exchange-traded funds","ETF","Buffer ETFs","fund data","SEC filings"]}],"characters":6692,"truncated":true,"content":"ETFIQ / Buffer ETFs / Compare ETFs / BSEP vs USEP \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 21, 2026 .\n\n BSEP vs USEP: Cap, Buffer & Days Left\n\n As of Oct 21, 2026 USEP can fall 5.9% before its buffer engages and BSEP 1.1%.\n Copy this for sharing \n \n Both cost 0.79% a year; their one-year returns differ by 3.1 points; BSEP is 2.0 times larger.\n BSEP and USEP at a glance. As of Oct 21, 2026. Source: ETFIQ. BSEP USEP \n Expense ratio 0.79% 0.79% \n Net assets $468m $238m \n Total return, 1 year +12.3% +9.2% \n What it tracks SPY SPY \n Holdings in common not published \n \n Net assets ","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, BSEP against USEP, data as of Oct 21, 2026. https://etfiq.com/compare/buffer/bsep-vs-usep","a":{"ticker":"BSEP","name":"Innovator U.S. Equity Buffer ETF - Sep","issuer":"Innovator","desk":"buffer","as_of":"2026-10-21","verdict":"Since Aug 31, 2026, BSEP returned 1.0%, against 0.8% for SPY. It can gain 18.5% more before its cap.","url":"https://etfiq.com/funds/bsep","key_facts":[{"label":"Can still gain from today\u2019s fund price","value":"18.5%","as_of":"2026-10-21","source":null},{"label":"Fall before the buffer from today\u2019s fund price","value":"1.1%","as_of":"2026-10-21","source":null},{"label":"Protection left, index points","value":"9.0%","as_of":"2026-10-21","source":null},{"label":"Days to reset","value":"314","as_of":"2026-10-21","source":null},{"label":"Net assets","value":"$468m","as_of":"2026-10-21","source":"issuer page, as of Oct 21, 2026"},{"label":"Expense ratio","value":"0.79%","as_of":"2026-10-21","source":"issuer page, Oct 21, 2026"}]},"b":{"ticker":"USEP","name":"Innovator U.S. Equity Ultra Buffer ETF - Sep","issuer":"Innovator","desk":"buffer","as_of":"2026-10-21","verdict":"Since Aug 31, 2026, USEP returned 0.8%, against 0.8% for SPY. It can gain 13.7% more before its cap.","url":"https://etfiq.com/funds/usep","key_facts":[{"label":"Can still gain from today\u2019s fund price","value":"13.7%","as_of":"2026-10-21","source":null},{"label":"Fall before the buffer from today\u2019s fund price","value":"5.9%","as_of":"2026-10-21","source":null},{"label":"Protection left, index points","value":"30.0%","as_of":"2026-10-21","source":null},{"label":"Days to reset","value":"314","as_of":"2026-10-21","source":null},{"label":"Net assets","value":"$238m","as_of":"2026-10-21","source":"issuer page, as of Oct 21, 2026"},{"label":"Expense ratio","value":"0.79%","as_of":"2026-10-21","source":"issuer page, Oct 21, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/buffer/bsep-vs-usep"}