Data as of Nov 4, 2026.
DECW vs SQBA: Cap, Buffer & Days Left
As of Nov 4, 2026 DECW can fall 9.2% before its buffer engages and SQBA 1.0%, and SQBA resets 10 days sooner.
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Net assets on Nov 3, 2026: $147m for AllianzIM U.S. Equity Buffer20 ETF - Dec and $3.1m for FT Vest U.S. Equity Quarterly 15 Buffer ETF.
DECW: reference +12.2% since period start, fund +9.3%; buffer 0 to −20; cap +11.3%; At its cap. Data to Nov 4, 2026.
DECW: reference +12.2% since period start, fund +9.3%; buffer 0 to −20; cap +11.3%; At its cap. Data to Nov 4, 2026.SQBA: reference +0.1% since period start, fund +0.8%; buffer 0 to −15; cap +2.6%; Between buffer and cap. Data to Nov 4, 2026.
SQBA: reference +0.1% since period start, fund +0.8%; buffer 0 to −15; cap +2.6%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
DECW costs 0.11 points a year less; DECW is far larger, $147m against $3.1m.
Points (pts) are percentage points.
| Measure | DECW | SQBA |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.7% | not published |
| Drawdown | ||
| Index fall to the buffer | 10.9% | 0.1% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.85% |
| Net assets, as of Nov 3, 2026 | $147m | $3.1m |
| Holdings | ||
| Holdings in common | not published | |
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DECW | SQBA | DECW | SQBA |
| 3 months | +1.8% | – | +2.2 pts | – |
| 6 months | +4.7% | – | +0.2 pts | – |
| 1 year | +10.7% | – | −2.8 pts | – |
| 3 years | +40.8% | – | −35.6 pts | – |
| Since launchNot the same days: DECW Dec 2022 · SQBA Aug 2026 | +48.7% | +0.8% | −39.5 pts | +0.3 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.
DECW is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
SQBA resets first, on Nov 20, 2026, 16 days from now; DECW runs to Nov 30, 2026, 26 days. DECW can still gain 1.1% before its cap, SQBA 1.6%. A fall from here reaches DECW’s buffer after 9.2% and SQBA’s after 1.0%. Both track SPY, so what separates them is where each is in its own period.
DECW
SPY had already risen past this fund's cap of +11.3% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 1.1% as the period runs out. The fund's price can fall 9.2% 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: 20.0% of the 20.0% buffer still sits below today's SPY level. 26 days remained on Nov 4, 2026. On Nov 30, 2026 the period ends and a new cap is set.
SQBA
From its price on Nov 4, 2026, the fund can gain about 1.6% more before it reaches its cap. The fund's price can fall 1.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.1% 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. 16 days remained on Nov 4, 2026. On Nov 20, 2026 the period ends and a new cap is set.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
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, DECW against SQBA, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/decw-vs-sqba
ETFIQ. (Nov 4, 2026). DECW against SQBA. Retrieved from https://etfiq.com/compare/buffer/decw-vs-sqba
[DECW against SQBA (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/decw-vs-sqba)
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