Data as of Nov 4, 2026.
DDFO vs PQV: Cap, Buffer & Days Left
As of Nov 4, 2026 PQV can fall 0.9% before its buffer engages and DDFO 0.7%, and PQV resets 273 days sooner.
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Net assets on Nov 4, 2026: $176m for Innovator Equity Dual Directional 15 Buffer ETF - Oct and $2.3m for PGIM S&P 500 Quarterly Buffer 5 ETF.
DDFO: reference +0.5% since period start, fund +0.6%; buffer 0 to −15; cap +10.7%; Between buffer and cap. Data to Nov 4, 2026.
DDFO: reference +0.5% since period start, fund +0.6%; buffer 0 to −15; cap +10.7%; Between buffer and cap. Data to Nov 4, 2026.PQV: reference +0.6% since period start, fund +0.8%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Data to Nov 4, 2026.
PQV: reference +0.6% since period start, fund +0.8%; buffer 0 to −5; cap +5.1%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
PQV costs 0.29 points a year less; DDFO is far larger, $176m against $2.3m.
Points (pts) are percentage points.
| Measure | DDFO | PQV |
|---|---|---|
| Return | ||
| Total return, 1 year | +8.2% | not published |
| Drawdown | ||
| Index fall to the buffer | 0.5% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.50% |
| Net assets | $176m | $2.3m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DDFO | PQV | DDFO | PQV |
| 3 months | +1.5% | +0.6% | +1.9 pts | +0.9 pts |
| 6 months | +3.5% | – | −1.0 pts | – |
| 1 year | +8.2% | – | −5.4 pts | – |
| Since launchNot the same days: DDFO Oct 2025 · PQV Jul 2026 | +8.5% | +2.8% | −6.2 pts | 0.0 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. PQV is a floor fund, which caps how far a holder can fall. DDFO is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
They do not reset together. PQV has 57 days of its period left and DDFO has 330, so the two are not the same bet on the same months.
Where each one stands today
PQV resets first, on Dec 31, 2026, 57 days from now; DDFO runs to Sep 30, 2027, 330 days. DDFO can still gain 9.9% before its cap, PQV 4.1%. A fall from here reaches DDFO’s buffer after 0.7% and PQV’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.
DDFO
From its price on Nov 4, 2026, the fund can gain about 9.9% more before it reaches its cap. The fund's price can fall 0.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% 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. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and a new cap is set.
PQV
From its price on Nov 4, 2026, the fund can gain about 4.1% 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. Protection left, in index points: 5.0% of the 5.0% buffer still sits below today's SPY level. 57 days remained on Nov 4, 2026. On Dec 31, 2026 the period ends and a new cap is set.
Questions people ask
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, DDFO against PQV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfo-vs-pqv
ETFIQ. (Nov 4, 2026). DDFO against PQV. Retrieved from https://etfiq.com/compare/buffer/ddfo-vs-pqv
[DDFO against PQV (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ddfo-vs-pqv)
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