Data as of Nov 4, 2026.

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Buffer ETFs

DDFD vs DECU: Cap, Buffer & Days Left

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As of Nov 4, 2026 DDFD can fall 8.2% before its buffer engages and DECU 7.9%.

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Net assets: $95m on Nov 4, 2026 for Innovator Equity Dual Directional 15 Buffer ETF - Dec, and $52m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Dec.

At a glance
8.2%
DDFD can fall this far before its buffer
7.9%
DECU can fall this far before its buffer
0.6%
DDFD can still gain
uncapped
DECU can still gain
DDFD At its cap
At its capDDFD: reference +12.2% since period start, fund +8.1%; buffer 0 to −15; cap +9.6%; At its cap. Data to Nov 4, 2026.15 pts of buffer+9.6% gain captured−15.0% floor0% period start+9.6% capTODAY · SPY +12.2%At its capDDFD: reference +12.2% since period start, fund +8.1%; buffer 0 to −15; cap +9.6%; At its cap. Data to Nov 4, 2026.15 pts+9.6%−15.0% floor0% start+9.6% capTODAY · SPY +12.2%

DDFD: reference +12.2% since period start, fund +8.1%; buffer 0 to −15; cap +9.6%; At its cap. Data to Nov 4, 2026.

DDFD: reference +12.2% since period start, fund +8.1%; buffer 0 to −15; cap +9.6%; At its cap. Data to Nov 4, 2026.
DECU No cap
No capDECU: reference +12.2% since period start, fund +7.7%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.15 pts of buffer+12.2% gained, no cap−15.0% floor0% period startno capTODAY · SPY +12.2%No capDECU: reference +12.2% since period start, fund +7.7%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.15 pts−15.0% floor0% startno cap+12.2% gained, no capTODAY · SPY +12.2%

DECU: reference +12.2% since period start, fund +7.7%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

DECU costs 0.05 points a year less; DDFD is 1.8 times larger.

Points (pts) are percentage points.

DDFD vs DECU: Cap, Buffer & Days Left
MeasureDDFDDECU
Return
Total return, 1 yearnot published+9.0%
Drawdown
Index fall to the buffer10.8%10.9%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.74%
Net assets, as of Nov 3, 2026$94m$52m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: DDFD vs DECU: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDDFDDECUDDFDDECU
3 months+1.6%−1.4%+1.9 pts−1.0 pts
6 months+3.9%+2.3%−0.6 pts−2.2 pts
1 year–+9.0%–−4.6 pts
Since launchNot the same days: DDFD Dec 2025 · DECU Dec 2024+7.9%+17.7%−4.8 pts−9.3 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

DDFD Innovator Equity Dual Directional 15 Buffer ETF - Dec · Absorbs the first 15% of loss on SPY and caps the gain at 9.6%, over a period ending Nov 30, 2026 DECU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Dec · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Nov 30, 2026
Reference index SPY SPY
Buffer 15% 15%
Outcome period Nov 30, 2025 to Nov 30, 2026 Dec 1, 2025 to Nov 30, 2026
Days left 26 26
Starting cap +9.6% uncapped
Can still gain 0.6% uncapped
Fall before buffer 8.2% 7.9%
Protection left, index points 15.0% of 15.0% 15.0% of 15.0%
Index return this period +12.2% +12.2%
Fund return this period +8.1% +7.7%
State today At cap Uncapped
Expense ratio 0.79% 0.74%
Net assets, DDFD as of Nov 4, 2026 and DECU as of Nov 3, 2026 $95m $52m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. DECU is a floor fund, which caps how far a holder can fall. DDFD is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

DDFD is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

DDFD resets first, on Nov 30, 2026, 26 days from now; DECU runs to Nov 30, 2026, 26 days. A fall from here reaches DDFD’s buffer after 8.2% and DECU’s after 7.9%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DDFD

SPY had already risen past this fund's cap of +9.6% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.6% as the period runs out. The fund's price can fall 8.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.8% 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. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and a new cap is set.

DECU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 7.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% from today's level to the point where the buffer begins. On Nov 30, 2026 the period ends and new terms are set.

Questions people ask

Which resets first, DDFD or DECU?
DDFD ends its outcome period on Nov 30, 2026 and DECU on Nov 30, 2026. New terms are set the day after each.
Which is cheaper, DDFD or DECU?
DDFD charges 0.79% a year and DECU charges 0.74%, so DECU is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

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.

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ETFIQ, DDFD against DECU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfd-vs-decu

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