Data as of .
DDTD vs SQBA: which one stands where?
As of Sep 19, 2026 DDTD can fall 9.3% before its buffer engages and SQBA 0.4%, and SQBA resets 10 days sooner.
These are two different products. SQBA is a floor fund, which caps how far a holder can fall. DDTD 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
SQBA resets first, on Nov 20, 2026, 63 days from now; DDTD runs to Nov 30, 2026, 73 days. DDTD can still gain 3.1% before its cap, SQBA 2.2%. A fall from here reaches DDTD’s buffer after 9.3% and SQBA’s after 0.4%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| DDTD | SQBA | DDTD | SQBA | |
| 3 months | +2.4% | not published | +0.2 pts | not published |
| 6 months | +11.6% | not published | −6.5 pts | not published |
| DDTD Innovator Equity Dual Directional 10 Buffer ETF - Dec Absorbs the first 10% of loss on SPY and caps the gain at 13.7%, over a period ending Nov 30, 2026 | SQBA FT Vest U.S. Equity Quarterly 15 Buffer ETF Absorbs the first 15% of loss on SPY and caps the gain at 2.6%, over a period ending Nov 20, 2026 | |
|---|---|---|
| Issuer | Innovator | First Trust |
| Reference index | SPY | SPY |
| Buffer | 10% | 15% |
| Outcome period | Nov 30, 2025 to Nov 30, 2026 | Aug 24, 2026 to Nov 20, 2026 |
| Days left | 73 | 63 |
| Starting cap | +13.7% | +2.6% |
| Can still gain | 3.1% | 2.2% |
| Fall before buffer | 9.3% | 0.4% |
| Protection left, index points | 10.0% of 10.0% | 14.5% of 15.0% |
| Index return this period | +11.4% | −0.5% |
| Fund return this period | +9.5% | +0.2% |
| State today | Open | Buffer working |
| Expense ratio | 0.79% | 0.85% |
| Net assets | $23m | $3m |
DDTD in plain words
From its price on Sep 19, 2026, the fund can gain about 3.1% more before it reaches its cap. The fund's price can fall 9.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.3% 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. 73 days remained on Sep 19, 2026. On Nov 30, 2026 the period ends and a new cap is set.
SQBA in plain words
From its price on Sep 19, 2026, the fund can gain about 2.2% more before it reaches its cap. The fund's price can fall 0.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 14.5% of the 15.0% buffer still sits below today's SPY level. 63 days remained on Sep 19, 2026. On Nov 20, 2026 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, DDTD or SQBA?
- From their prices on Sep 19, 2026, DDTD can gain about 3.1% before its cap and SQBA about 2.2%, so DDTD has more room left this period.
- Which resets first, DDTD or SQBA?
- DDTD ends its outcome period on Nov 30, 2026 and SQBA on Nov 20, 2026. A new cap is set the day after each.
- Which is cheaper, DDTD or SQBA?
- DDTD charges 0.79% a year and SQBA charges 0.85%, so DDTD is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, DDTD against SQBA, data as of Sep 19, 2026. https://etfiq.com/compare/buffer/ddtd-vs-sqba Free to use with attribution; the underlying files are at Open data.