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Data as of Nov 4, 2026.

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Buffer ETFs

DDFN vs UNOV: Cap, Buffer & Days Left

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As of Nov 4, 2026 UNOV can fall 5.7% before its buffer engages and DDFN 0.9%.

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Net assets on Nov 4, 2026: $74m for Innovator Equity Dual Directional 15 Buffer ETF - Nov and $112m for Innovator U.S. Equity Ultra Buffer ETF - Nov.

DDFN on its own →UNOV on its own →
At a glance
0.9%
DDFN can fall this far before its buffer
5.7%
UNOV can fall this far before its buffer
10.1%
DDFN can still gain
13.6%
UNOV can still gain
DDFN Between buffer and cap
Between buffer and capDDFN: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +11.1%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+9.7% to cap−15.0% floor0% period start+11.1% cap+1.4% gain capturedTODAY · SPY +1.4%Between buffer and capDDFN: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +11.1%; Between buffer and cap. Data to Nov 4, 2026.15 pts−15.0% floor0% start+11.1% cap+1.4% gain captured+9.7% more to the capTODAY · SPY +1.4%

DDFN: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +11.1%; Between buffer and cap. Data to Nov 4, 2026.

DDFN: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +11.1%; Between buffer and cap. Data to Nov 4, 2026.
UNOV Between buffer and cap
Between buffer and capUNOV: reference +1.4% since period start, fund +0.7%; buffer −5 to −35; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.30 pts of buffer+13% more to the cap−35.0% floor−5.0% buffer start0% period start+14.5% capfirst 5 pts are yours to lose+1.4% gain capturedTODAY · SPY +1.4%Between buffer and capUNOV: reference +1.4% since period start, fund +0.7%; buffer −5 to −35; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.30 pts of buffer−35.0% floor−5.0% buffer start0% start+14.5% capfirst 5 pts are yours to lose+1.4% gain captured+13% more to the capTODAY · SPY +1.4%

UNOV: reference +1.4% since period start, fund +0.7%; buffer −5 to −35; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.

UNOV: reference +1.4% since period start, fund +0.7%; buffer −5 to −35; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; their one-year returns differ by 1.1 points; UNOV is 1.5 times larger.

Points (pts) are percentage points.

DDFN vs UNOV: Cap, Buffer & Days Left
MeasureDDFNUNOV
Return
Total return, 1 year+10.2%+11.3%
Drawdown
Index fall to the buffer1.4%6.3%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.79%
Net assets$74m$112m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: DDFN vs UNOV: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDDFNUNOVDDFNUNOV
3 months+2.7%+2.6%+3.1 pts+3.0 pts
6 months+5.4%+5.7%+0.9 pts+1.2 pts
1 year+10.2%+11.3%−3.3 pts−2.2 pts
3 years–+38.3%–−38.1 pts
Since launchNot the same days: DDFN Nov 2025 · UNOV Nov 2019+9.7%+63.5%−2.5 pts−87.0 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

DDFN Innovator Equity Dual Directional 15 Buffer ETF - Nov · Absorbs the first 15% of loss on SPY and caps the gain at 11.1%, over a period ending Oct 31, 2027 UNOV Innovator U.S. Equity Ultra Buffer ETF - Nov · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 14.5%, over a period ending Oct 31, 2027
Issuer Innovator Innovator
Reference index SPY SPY
Buffer 15% 5% to 35%
Outcome period Oct 31, 2026 to Oct 31, 2027 Oct 31, 2026 to Oct 31, 2027
Days left 361 361
Starting cap +11.1% +14.5%
Can still gain 10.1% 13.6%
Fall before buffer 0.9% 5.7%
Protection left, index points 15.0% of 15.0% 30.0% of 30.0%
Index return this period +1.4% +1.4%
Fund return this period +0.9% +0.7%
State today Open Open
Expense ratio 0.79% 0.79%
Net assets $74m $112m

As of Nov 4, 2026. Source: ETFIQ.

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

Both are Innovator funds, so the difference between them is the terms rather than the house.

Where each one stands today

DDFN resets first, on Oct 31, 2027, 361 days from now; UNOV runs to Oct 31, 2027, 361 days. DDFN can still gain 10.1% before its cap, UNOV 13.6%. A fall from here reaches DDFN’s buffer after 0.9% and UNOV’s after 5.7%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DDFN

From its price on Nov 4, 2026, the fund can gain about 10.1% more before it reaches its cap. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% 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. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.

UNOV

From its price on Nov 4, 2026, the fund can gain about 13.6% more before it reaches its cap. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.3% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, DDFN or UNOV?
From their prices on Nov 4, 2026, DDFN can gain about 10.1% before its cap and UNOV about 13.6%, so UNOV has more room left this period.
Which resets first, DDFN or UNOV?
DDFN ends its outcome period on Oct 31, 2027 and UNOV on Oct 31, 2027. A new cap is set the day after each.
Which is cheaper, DDFN or UNOV?
DDFN and UNOV both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.
Other comparisons
DDFN vs NVBWDDFN vs DHDGDDFN vs SIXZDDFN vs NOVPUNOV vs DHDGUNOV vs XOCTUNOV vs ZNOVUNOV vs SIXZ
Where to next
SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DDFN on its own →UNOV on its own →Method →Standards and sources →
Sources and dates
DDFN and UNOV filings on SEC EDGAR ↗
Innovator page for DDFN ↗
Innovator page for UNOV ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, DDFN against UNOV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfn-vs-unov

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.