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Data as of Nov 4, 2026.

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Buffer ETFs

DDTM vs DFEB: Cap, Buffer & Days Left

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As of Nov 4, 2026 DFEB can fall 12.2% before its buffer engages and DDTM 8.5%, and DFEB resets 9 days sooner.

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Net assets: $13m on Nov 4, 2026 for Innovator Equity Dual Directional 10 Buffer ETF - Mar, and $456m on Nov 3, 2026 for FT Vest U.S. Equity Deep Buffer ETF - February.

DDTM on its own →DFEB on its own →
At a glance
8.5%
DDTM can fall this far before its buffer
12.2%
DFEB can fall this far before its buffer
4.1%
DDTM can still gain
3.6%
DFEB can still gain
DDTM Between buffer and cap
Between buffer and capDDTM: reference +11.7% since period start, fund +8.6%; buffer 0 to −10; cap +13.7%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+11.7% gain captured−10.0% floor0% period start+13.7% cap+2% more to the capTODAY · SPY +11.7%Between buffer and capDDTM: reference +11.7% since period start, fund +8.6%; buffer 0 to −10; cap +13.7%; Between buffer and cap. Data to Nov 4, 2026.10 pts+11.7%−10.0% floor0% start+13.7% cap+2% more to the capTODAY · SPY +11.7%

DDTM: reference +11.7% since period start, fund +8.6%; buffer 0 to −10; cap +13.7%; Between buffer and cap. Data to Nov 4, 2026.

DDTM: reference +11.7% since period start, fund +8.6%; buffer 0 to −10; cap +13.7%; Between buffer and cap. Data to Nov 4, 2026.
DFEB Between buffer and cap
Between buffer and capDFEB: reference +11.2% since period start, fund +7.2%; buffer −5 to −30; cap +11.9%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer+11.2% gain captured−30.0% floor−5.0% buffer start0% period start+11.9% capfirst 5 pts are yours to lose+0.7% more to the capTODAY · SPY +11.2%Between buffer and capDFEB: reference +11.2% since period start, fund +7.2%; buffer −5 to −30; cap +11.9%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer+11.2%−30.0% floor−5.0% buffer start0% start+11.9% capfirst 5 pts are yours to lose+0.7% more to the capTODAY · SPY +11.2%

DFEB: reference +11.2% since period start, fund +7.2%; buffer −5 to −30; cap +11.9%; Between buffer and cap. Data to Nov 4, 2026.

DFEB: reference +11.2% since period start, fund +7.2%; buffer −5 to −30; cap +11.9%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

DDTM costs 0.06 points a year less; DFEB is far larger, $456m against $13m.

Points (pts) are percentage points.

DDTM vs DFEB: Cap, Buffer & Days Left
MeasureDDTMDFEB
Return
Total return, 1 yearnot published+11.1%
Drawdown
Index fall to the buffer10.5%14.6%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.79%0.85%
Net assets, as of Nov 3, 2026$13m$456m
Holdings
Holdings in commonnot published

Method

Window by window

Window by window: DDTM vs DFEB: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDDTMDFEBDDTMDFEB
3 months+1.6%+1.4%+2.0 pts+1.8 pts
6 months+4.8%+4.1%+0.3 pts−0.4 pts
1 year–+11.1%–−2.4 pts
3 years–+47.2%–−29.2 pts
Since launchNot the same days: DDTM Mar 2026 · DFEB Feb 2020+8.5%+71.4%−3.2 pts−66.4 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

DDTM Innovator Equity Dual Directional 10 Buffer ETF - Mar · Absorbs the first 10% of loss on SPY and caps the gain at 13.7%, over a period ending Feb 28, 2027 DFEB FT Vest U.S. Equity Deep Buffer ETF - February · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 11.9%, over a period ending Feb 19, 2027
Issuer Innovator First Trust
Reference index SPY SPY
Buffer 10% 5% to 30%
Outcome period Feb 28, 2026 to Feb 28, 2027 Feb 23, 2026 to Feb 19, 2027
Days left 116 107
Starting cap +13.7% +11.9%
Can still gain 4.1% 3.6%
Fall before buffer 8.5% 12.2%
Protection left, index points 10.0% of 10.0% 25.0% of 25.0%
Index return this period +11.7% +11.2%
Fund return this period +8.6% +7.2%
State today Open Open
Expense ratio 0.79% 0.85%
Net assets, DDTM as of Nov 4, 2026 and DFEB as of Nov 3, 2026 $13m $456m

As of Nov 4, 2026. Source: ETFIQ.

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

DFEB resets first, on Feb 19, 2027, 107 days from now; DDTM runs to Feb 28, 2027, 116 days. DDTM can still gain 4.1% before its cap, DFEB 3.6%. A fall from here reaches DDTM’s buffer after 8.5% and DFEB’s after 12.2%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DDTM

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 8.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.5% 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. 116 days remained on Nov 4, 2026. On Feb 28, 2027 the period ends and a new cap is set.

DFEB

From its price on Nov 4, 2026, the fund can gain about 3.6% more before it reaches its cap. The fund's price can fall 12.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 14.6% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 107 days remained on Nov 4, 2026. On Feb 19, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DDTM or DFEB?
From their prices on Nov 4, 2026, DDTM can gain about 4.1% before its cap and DFEB about 3.6%, so DDTM has more room left this period.
Which resets first, DDTM or DFEB?
DDTM ends its outcome period on Feb 28, 2027 and DFEB on Feb 19, 2027. A new cap is set the day after each.
Which is cheaper, DDTM or DFEB?
DDTM charges 0.79% a year and DFEB charges 0.85%, so DDTM is cheaper. Fees come from each fund's prospectus.
Other comparisons
DDTM vs GFEBDDTM vs FFEBDDTM vs DLFEDDTM vs PMARDFEB vs MARTDFEB vs PMMRDFEB vs DLFEDFEB vs MARW
Where to next
SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →DDTM on its own →DFEB on its own →Method →Standards and sources →
Sources and dates
DDTM filings on SEC EDGAR ↗
Innovator page for DDTM ↗
DFEB filings on SEC EDGAR ↗
First Trust page for DFEB ↗

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, DDTM against DFEB, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ddtm-vs-dfeb

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