Data as of Nov 4, 2026.
DDFZ vs FMAY: Cap, Buffer & Days Left
As of Nov 4, 2026 FMAY can fall 4.5% before its buffer engages and DDFZ 2.7%, and FMAY resets 10 days sooner.
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Net assets: $145m on Nov 4, 2026 for Innovator Equity Dual Directional 15 Buffer ETF - Jun, and $1.5bn on Nov 3, 2026 for FT Vest U.S. Equity Buffer ETF - May.
DDFZ: reference +1.3% since period start, fund +2.4%; buffer 0 to −15; cap +10.7%; Between buffer and cap. Data to Nov 4, 2026.
DDFZ: reference +1.3% since period start, fund +2.4%; buffer 0 to −15; cap +10.7%; Between buffer and cap. Data to Nov 4, 2026.FMAY: reference +3.7% since period start, fund +3.8%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.
FMAY: reference +3.7% since period start, fund +3.8%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
DDFZ costs 0.06 points a year less; FMAY is 10.4 times larger.
Points (pts) are percentage points.
| Measure | DDFZ | FMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +9.9% |
| Drawdown | ||
| Index fall to the buffer | 1.3% | 3.6% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $144m | $1.5bn |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DDFZ | FMAY | DDFZ | FMAY |
| 3 months | +0.8% | +0.5% | +1.2 pts | +0.9 pts |
| 6 months | – | +3.8% | – | −0.7 pts |
| 1 year | – | +9.9% | – | −3.6 pts |
| 3 years | – | +48.5% | – | −27.9 pts |
| Since launchNot the same days: DDFZ Jun 2026 · FMAY May 2020 | +2.2% | +85.5% | +1.1 pts | −74.4 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. FMAY is a floor fund, which caps how far a holder can fall. DDFZ is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
FMAY resets first, on May 21, 2027, 198 days from now; DDFZ runs to May 31, 2027, 208 days. DDFZ can still gain 7.8% before its cap, FMAY 12.0%. A fall from here reaches DDFZ’s buffer after 2.7% and FMAY’s after 4.5%. Both track SPY, so what separates them is where each is in its own period.
DDFZ
From its price on Nov 4, 2026, the fund can gain about 7.8% more before it reaches its cap. The fund's price can fall 2.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.3% 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. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and a new cap is set.
FMAY
From its price on Nov 4, 2026, the fund can gain about 12.0% more before it reaches its cap. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 198 days remained on Nov 4, 2026. On May 21, 2027 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, DDFZ against FMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddfz-vs-fmay
ETFIQ. (Nov 4, 2026). DDFZ against FMAY. Retrieved from https://etfiq.com/compare/buffer/ddfz-vs-fmay
[DDFZ against FMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ddfz-vs-fmay)
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