Which has more room to gain, DDFY or UMAY?

From their prices on Nov 4, 2026, DDFY can gain about 5.2% before its cap and UMAY about 7.1%, so UMAY has more room left this period.

Which resets first, DDFY or UMAY?

DDFY ends its outcome period on Apr 30, 2027 and UMAY on Apr 30, 2027. A new cap is set the day after each.

Which is cheaper, DDFY or UMAY?

DDFY and UMAY both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

DDFY vs UMAY: Cap, Buffer & Days Left

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As of Nov 4, 2026 UMAY can fall 9.6% before its buffer engages and DDFY 4.8%.

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Net assets on Nov 4, 2026: $77m for Innovator Equity Dual Directional 15 Buffer ETF - May and $84m for Innovator U.S. Equity Ultra Buffer ETF - May.

DDFY on its own →UMAY on its own →

At a glance

4.8%

DDFY can fall this far before its buffer

9.6%

UMAY can fall this far before its buffer

5.2%

DDFY can still gain

7.1%

UMAY can still gain

DDFY Between buffer and cap

DDFY: reference +6.7% since period start, fund +4.7%; buffer 0 to −15; cap +10.5%; Between buffer and cap. Data to Nov 4, 2026.

UMAY Between buffer and cap

UMAY: reference +6.7% since period start, fund +4.7%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.79% a year; UMAY is 1.1 times larger.

Points (pts) are percentage points.

DDFY vs UMAY: Cap, Buffer & Days Left
Measure	DDFY	UMAY
Return
Measure	DDFY	UMAY
Total return, 1 year	not published	+8.5%
Drawdown
Measure	DDFY	UMAY
Index fall to the buffer	6.2%	10.9%
Benchmark
Measure	DDFY	UMAY
What it tracks	SPY	SPY
Cost and size
Measure	DDFY	UMAY
Expense ratio	0.79%	0.79%
Net assets	$77m	$84m
Holdings
Measure	DDFY	UMAY
Holdings in common	not published

Method

Risk and return

May 8, 2026 to Oct 30, 2026 · 25 weekly returns

DDFY UMAY

Return

Total return edge DDFY (slight) +2.9% +2.8%

Price return edge DDFY (slight) +2.9% +2.8%

Risk

Max drawdown edge DDFY −1.0% −1.2%

Reading

From May 2026 to Oct 2026, DDFY returned slightly more: +2.9% to +2.8%. DDFY fell less at its worst: −1.0% to −1.2%.

Full scorecard

3 measures, with how each is measured Open ↓

Risk and return: DDFY vs UMAY: Cap, Buffer & Days Left
Measure	DDFY	UMAY	Edge	How it is measured
Return
Total return	+2.9%	+2.8%	DDFY (slight)	Price change plus distributions, reinvested.
Price return	+2.9%	+2.8%	DDFY (slight)	Price change alone, distributions left out.
Risk
Max drawdown	−1.0%	−1.2%	DDFY	Deepest fall from a high to the low after it.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 25 weekly returns. Cash rate: the 13-week Treasury bill.

Window by window

Window by window: DDFY vs UMAY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	DDFY	UMAY	DDFY	UMAY
3 months	+1.5%	+1.2%	+1.9 pts	+1.5 pts
6 months	+3.7%	+3.7%	−0.8 pts	−0.8 pts
1 year	–	+8.5%	–	−5.1 pts
3 years	–	+39.4%	–	−37.0 pts
Since launchNot the same days: DDFY May 2026 · UMAY May 2020	+4.2%	+53.3%	−2.2 pts	−117.8 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

DDFY Innovator Equity Dual Directional 15 Buffer ETF - May · Absorbs the first 15% of loss on SPY and caps the gain at 10.5%, over a period ending Apr 30, 2027 UMAY Innovator U.S. Equity Ultra Buffer ETF - May · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 12.5%, over a period ending Apr 30, 2027

Issuer Innovator Innovator

Reference index SPY SPY

Buffer 15% 5% to 35%

Outcome period Apr 30, 2026 to Apr 30, 2027 Apr 30, 2026 to Apr 30, 2027

Days left 177 177

Starting cap +10.5% +12.5%

Can still gain 5.2% 7.1%

Fall before buffer 4.8% 9.6%

Protection left, index points 15.0% of 15.0% 30.0% of 30.0%

Index return this period +6.7% +6.7%

Fund return this period +4.7% +4.7%

State today Open Open

Expense ratio 0.79% 0.79%

Net assets $77m $84m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. UMAY is a floor fund, which caps how far a holder can fall. DDFY 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

DDFY resets first, on Apr 30, 2027, 177 days from now; UMAY runs to Apr 30, 2027, 177 days. DDFY can still gain 5.2% before its cap, UMAY 7.1%. A fall from here reaches DDFY’s buffer after 4.8% and UMAY’s after 9.6%. Both track SPY, so what separates them is where each is in its own period.

Client brief

No client brief for this pair: ETFIQ prints no one-year total return for DDFY.

Alert

About each fund

DDFY

From its price on Nov 4, 2026, the fund can gain about 5.2% more before it reaches its cap. The fund's price can fall 4.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.2% 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. 177 days remained on Nov 4, 2026. On Apr 30, 2027 the period ends and a new cap is set.

UMAY

From its price on Nov 4, 2026, the fund can gain about 7.1% more before it reaches its cap. The fund's price can fall 9.6% 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: 30.0% of the 30.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, DDFY or UMAY?: From their prices on Nov 4, 2026, DDFY can gain about 5.2% before its cap and UMAY about 7.1%, so UMAY has more room left this period.
Which resets first, DDFY or UMAY?: DDFY ends its outcome period on Apr 30, 2027 and UMAY on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, DDFY or UMAY?: DDFY and UMAY both charge 0.79% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

DDFY vs SIXZ DDFY vs BMAY DDFY vs GAPR DDFY vs MAYW UMAY vs ZMAY UMAY vs SIXZ UMAY vs XAPR UMAY vs PMAY

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DDFY on its own →UMAY on its own →Method →Standards and sources →

Sources and dates

DDFY and UMAY filings on SEC EDGAR ↗

Innovator page for DDFY ↗

Innovator page for UMAY ↗

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, DDFY against UMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfy-vs-umay

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