Data as of .
DDEC vs SQMX: which one stands where?
As of Sep 21, 2026 DDEC can fall 13.1% before its buffer engages and SQMX 0.6%.
ETFIQ Downside Cover Score: SQMX scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it · How it is computed
Both are First Trust funds, so the difference between them is the terms rather than the house.
Where each one stands today
DDEC resets first, on Dec 18, 2026, 88 days from now; SQMX runs to Dec 18, 2026, 88 days. DDEC can still gain 2.5% before its cap, SQMX 2.4%. A fall from here reaches DDEC’s buffer after 13.1% and SQMX’s after 0.6%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| DDEC | SQMX | DDEC | SQMX | |
| 3 months | +2.4% | +1.7% | +0.2 pts | −0.5 pts |
| 6 months | +10.1% | +4.6% | −8.0 pts | −13.4 pts |
| 1 year | +11.4% | +7.1% | −5.2 pts | −9.4 pts |
| 3 years | +41.8% | not published | −36.6 pts | not published |
| DDEC FT Vest U.S. Equity Deep Buffer ETF - December Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 12.0%, over a period ending Dec 18, 2026 | SQMX FT Vest U.S. Equity Quarterly Max Buffer ETF Absorbs the first 12% of loss on SPY and caps the gain at 3.0%, over a period ending Dec 18, 2026 | |
|---|---|---|
| Issuer | First Trust | First Trust |
| Reference index | SPY | SPY |
| Buffer | 5% to 30% | 12% |
| Outcome period | Dec 22, 2025 to Dec 18, 2026 | Sep 21, 2026 to Dec 18, 2026 |
| Days left | 88 | 88 |
| Starting cap | +12.0% | +3.0% |
| Can still gain | 2.5% | 2.4% |
| Fall before buffer | 13.1% | 0.6% |
| Protection left, index points | 25.0% of 25.0% | 12.5% of 12.5% |
| Index return this period | +13.7% | +1.6% |
| Fund return this period | +8.4% | +0.4% |
| State today | At cap | Open |
| Expense ratio | 0.85% | 0.85% |
| Net assets | $439m | $80m |
DDEC in plain words
SPY had already risen past this fund's cap of +12.0% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.5% as the period runs out. The fund's price can fall 13.1% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 16.4% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 88 days remained on Sep 21, 2026. On Dec 18, 2026 the period ends and a new cap is set.
SQMX in plain words
From its price on Sep 21, 2026, the fund can gain about 2.4% 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 figure. In index terms, SPY can fall 1.6% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level.
Questions people ask
- Which has more room to gain, DDEC or SQMX?
- From their prices on Sep 21, 2026, DDEC can gain about 2.5% before its cap and SQMX about 2.4%, so DDEC has more room left this period.
- Which resets first, DDEC or SQMX?
- DDEC ends its outcome period on Dec 18, 2026 and SQMX on Dec 18, 2026. A new cap is set the day after each.
- Which is cheaper, DDEC or SQMX?
- DDEC charges 0.85% a year and SQMX charges 0.85%, so DDEC is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DDEC against SQMX, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/ddec-vs-sqmx Free to use with attribution; the underlying files are at Open data.