Data as of Nov 4, 2026.
DDFD vs DECW: Cap, Buffer & Days Left
As of Nov 4, 2026 DECW can fall 9.2% before its buffer engages and DDFD 8.2%.
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Net assets: $95m on Nov 4, 2026 for Innovator Equity Dual Directional 15 Buffer ETF - Dec, and $147m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer20 ETF - Dec.
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.DECW: reference +12.2% since period start, fund +9.3%; buffer 0 to −20; cap +11.3%; At its cap. Data to Nov 4, 2026.
DECW: reference +12.2% since period start, fund +9.3%; buffer 0 to −20; cap +11.3%; At its cap. Data to Nov 4, 2026.Pair scorecard
DECW costs 0.05 points a year less; DECW is 1.6 times larger.
Points (pts) are percentage points.
| Measure | DDFD | DECW |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +10.7% |
| Drawdown | ||
| Index fall to the buffer | 10.8% | 10.9% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.74% |
| Net assets, as of Nov 3, 2026 | $94m | $147m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DDFD | DECW | DDFD | DECW |
| 3 months | +1.6% | +1.8% | +1.9 pts | +2.2 pts |
| 6 months | +3.9% | +4.7% | −0.6 pts | +0.2 pts |
| 1 year | – | +10.7% | – | −2.8 pts |
| 3 years | – | +40.8% | – | −35.6 pts |
| Since launchNot the same days: DDFD Dec 2025 · DECW Dec 2022 | +7.9% | +48.7% | −4.8 pts | −39.5 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. DECW 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.
Both are already at their cap, so neither gains from more rise in the index before the period ends.
Where each one stands today
DDFD resets first, on Nov 30, 2026, 26 days from now; DECW runs to Nov 30, 2026, 26 days. DDFD can still gain 0.6% before its cap, DECW 1.1%. A fall from here reaches DDFD’s buffer after 8.2% and DECW’s after 9.2%. Both track SPY, so what separates them is where each is in its own period.
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.
DECW
SPY had already risen past this fund's cap of +11.3% 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 1.1% as the period runs out. The fund's price can fall 9.2% 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. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level.
Questions people ask
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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, DDFD against DECW, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfd-vs-decw
ETFIQ. (Nov 4, 2026). DDFD against DECW. Retrieved from https://etfiq.com/compare/buffer/ddfd-vs-decw
[DDFD against DECW (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ddfd-vs-decw)
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