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DDSQ vs GDEC: which one stands where?

As of Oct 1, 2026 GDEC can fall 8.4% before its buffer engages and DDSQ 0.0%, and GDEC resets 13 days sooner. Innovator Equity Dual Directional 5 Buffer ETF - Quarterly and FT Vest U.S. Equity Moderate Buffer ETF - December.

0.0%
DDSQ can fall this far before its buffer
8.4%
GDEC can fall this far before its buffer
3.5%
DDSQ can still gain
2.8%
GDEC can still gain
DDSQBetween buffer and cap
Between buffer and capDDSQ: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +3.5%; Between buffer and cap.5 pts of buffer−5.0% floor0% period start+3.5% capTODAY · SPY 0.0%Between buffer and capDDSQ: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +3.5%; Between buffer and cap.−5.0% floor0% start+3.5% capTODAY · SPY 0.0%

DDSQ: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +3.5%; Between buffer and cap.

GDECBetween buffer and cap
Between buffer and capGDEC: reference +12.0% since period start, fund +8.2%; buffer 0 to −15; cap +12.1%; Between buffer and cap.15 pts of buffer+12% gain captured−15.0% floor0% period start+12.1% capTODAY · SPY +12.0%Between buffer and capGDEC: reference +12.0% since period start, fund +8.2%; buffer 0 to −15; cap +12.1%; Between buffer and cap.15 pts of buffer+12% gained−15.0% floor0% start+12.1% capTODAY · SPY +12.0%

GDEC: reference +12.0% since period start, fund +8.2%; buffer 0 to −15; cap +12.1%; Between buffer and cap.

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

GDEC resets first, on Dec 18, 2026, 79 days from now; DDSQ runs to Dec 31, 2026, 92 days. DDSQ can still gain 3.5% before its cap, GDEC 2.8%. A fall from here reaches DDSQ’s buffer after 0.0% and GDEC’s after 8.4%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

Total returnGap to the reference
WindowDDSQGDECDDSQGDEC
3 months+2.0%+2.6%−0.5 pts+0.1 pts
6 months+7.0%+9.6%−9.9 pts−7.4 pts
1 yearnot published+11.2%not published−4.5 pts

DDSQ and GDEC over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

DDSQ
Innovator Equity Dual Directional 5 Buffer ETF - Quarterly · Absorbs the first 5% of loss on SPY and caps the gain at 3.5%, over a period ending Dec 31, 2026
GDEC
FT Vest U.S. Equity Moderate Buffer ETF - December · Absorbs the first 15% of loss on SPY and caps the gain at 12.1%, over a period ending Dec 18, 2026
Issuer Innovator First Trust
Reference index SPY SPY
Buffer 5% 15%
Outcome period Sep 30, 2026 to Dec 31, 2026 Dec 22, 2025 to Dec 18, 2026
Days left 92 79
Starting cap +3.5% +12.1%
Can still gain 3.5% 2.8%
Fall before buffer 0.0% 8.4%
Protection left, index points 5.0% of 5.0% 15.0% of 15.0%
Index return this period 0.0% +12.0%
Fund return this period 0.0% +8.2%
State today Open Open
Expense ratio 0.79% 0.85%
Net assets $92m $382m

DDSQ and GDEC on the same fields, as of Oct 1, 2026. Source: ETFIQ.

DDSQ in plain words

From its price on Oct 1, 2026, the fund can gain about 3.5% more before it reaches its cap. Protection left, in index points: 5.0% of the 5.0% buffer still sits below today's SPY level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

GDEC in plain words

From its price on Oct 1, 2026, the fund can gain about 2.8% more before it reaches its cap. The fund's price can fall 8.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.7% 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. 79 days remained on Oct 1, 2026. On Dec 18, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DDSQ or GDEC?
From their prices on Oct 1, 2026, DDSQ can gain about 3.5% before its cap and GDEC about 2.8%, so DDSQ has more room left this period.
Which resets first, DDSQ or GDEC?
DDSQ ends its outcome period on Dec 31, 2026 and GDEC on Dec 18, 2026. A new cap is set the day after each.
Which is cheaper, DDSQ or GDEC?
DDSQ charges 0.79% a year and GDEC charges 0.85%, so DDSQ is cheaper. Fees come from each fund's prospectus.
Other comparisons
DDSQ vs UJANDDSQ vs UOCTDDSQ vs XBJADDSQ vs XBOCGDEC vs ZALTGDEC vs EALTGDEC vs JAJLGDEC vs JANP
SPY →DDSQ on its own →GDEC on its own →How every figure is computed →Standards and sources →
Where these figures came from
DDSQ filings on SEC EDGAR ↗Innovator page for DDSQ ↗GDEC filings on SEC EDGAR ↗First Trust page for GDEC ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, DDSQ against GDEC, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ddsq-vs-gdec

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.