Data as of Nov 4, 2026.
DDFD vs FNOV: Cap, Buffer & Days Left
As of Nov 4, 2026 FNOV can fall 13.3% before its buffer engages and DDFD 8.2%, and FNOV resets 10 days sooner.
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Net assets: $95m on Nov 4, 2026 for Innovator Equity Dual Directional 15 Buffer ETF - Dec, and $1.3bn on Nov 3, 2026 for FT Vest U.S. Equity Buffer ETF - November.
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.FNOV: reference +16.3% since period start, fund +14.4%; buffer 0 to −10; cap +16.6%; Between buffer and cap. Data to Nov 4, 2026.
FNOV: reference +16.3% since period start, fund +14.4%; buffer 0 to −10; cap +16.6%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
DDFD costs 0.06 points a year less; FNOV is 13.8 times larger.
Points (pts) are percentage points.
| Measure | DDFD | FNOV |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +13.6% |
| Drawdown | ||
| Index fall to the buffer | 10.8% | 14.0% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $94m | $1.3bn |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DDFD | FNOV | DDFD | FNOV |
| 3 months | +1.6% | +2.2% | +1.9 pts | +2.6 pts |
| 6 months | +3.9% | +5.8% | −0.6 pts | +1.3 pts |
| 1 year | – | +13.6% | – | +0.1 pts |
| 3 years | – | +54.4% | – | −22.0 pts |
| Since launchNot the same days: DDFD Dec 2025 · FNOV Nov 2019 | +7.9% | +98.7% | −4.8 pts | −47.1 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. FNOV 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
FNOV resets first, on Nov 20, 2026, 16 days from now; DDFD runs to Nov 30, 2026, 26 days. DDFD can still gain 0.6% before its cap, FNOV 1.2%. A fall from here reaches DDFD’s buffer after 8.2% and FNOV’s after 13.3%. 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.
FNOV
From its price on Nov 4, 2026, the fund can gain about 1.2% more before it reaches its cap. The fund's price can fall 13.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 14.0% 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. 16 days remained on Nov 4, 2026. On Nov 20, 2026 the period ends and a new cap is set.
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 FNOV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfd-vs-fnov
ETFIQ. (Nov 4, 2026). DDFD against FNOV. Retrieved from https://etfiq.com/compare/buffer/ddfd-vs-fnov
[DDFD against FNOV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ddfd-vs-fnov)
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