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Data as of Nov 4, 2026.

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Buffer ETFs

DHDG vs PNOV: Cap, Buffer & Days Left

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As of Nov 4, 2026 DHDG can fall 3.1% before its buffer engages and PNOV 0.9%, and DHDG resets 289 days sooner.

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Net assets: $81m on Nov 3, 2026 for FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF, and $857m on Nov 4, 2026 for Innovator U.S. Equity Power Buffer ETF - Nov.

DHDG on its own →PNOV on its own →
At a glance
3.1%
DHDG can fall this far before its buffer
0.9%
PNOV can fall this far before its buffer
3.9%
DHDG can still gain
14.3%
PNOV can still gain
DHDG Between buffer and cap
Between buffer and capDHDG: reference +0.5% since period start, fund +0.4%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Nov 4, 2026.12.5 pts of buffer+4% to cap−15.0% floor−2.5% buffer start0% period start+4.5% capfirst 2.5 pts are yours to lose+0.5% gain capturedTODAY · SPY +0.5%Between buffer and capDHDG: reference +0.5% since period start, fund +0.4%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Nov 4, 2026.12.5 pts−15.0% floor−2.5% buffer start0% start+4.5% capfirst 2.5 pts are yours to lose+0.5% gain captured+4% more to the capTODAY · SPY +0.5%

DHDG: reference +0.5% since period start, fund +0.4%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Nov 4, 2026.

DHDG: reference +0.5% since period start, fund +0.4%; buffer −2 to −15; cap +4.5%; Between buffer and cap. Data to Nov 4, 2026.
PNOV Between buffer and cap
Between buffer and capPNOV: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+13.9% more to the cap−15.0% floor0% period start+15.3% cap+1.4% gain capturedTODAY · SPY +1.4%Between buffer and capPNOV: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.15 pts+13.9% to cap−15.0% floor0% start+15.3% cap+1.4% gain capturedTODAY · SPY +1.4%

PNOV: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.

PNOV: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PNOV costs 0.06 points a year less; their one-year returns differ by 1.6 points; PNOV is 10.3 times larger.

Points (pts) are percentage points.

DHDG vs PNOV: Cap, Buffer & Days Left
MeasureDHDGPNOV
Return
Total return, 1 year+13.1%+11.5%
Drawdown
Index fall to the buffer2.9%1.4%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.79%
Net assets, as of Nov 3, 2026$81m$834m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PNOV scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score63DHDG83.2PNOV

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

0.3, the lowest in this set 99.7, the highest

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 →

Method

Window by window

Window by window: DHDG vs PNOV: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDHDGPNOVDHDGPNOV
3 months+1.3%+1.9%+1.6 pts+2.3 pts
6 months+5.6%+5.3%+1.1 pts+0.8 pts
1 year+13.1%+11.5%−0.5 pts−2.0 pts
3 years–+39.4%–−37.0 pts
Since launchNot the same days: DHDG Oct 2024 · PNOV Nov 2019+24.9%+79.5%−6.5 pts−71.0 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

DHDG FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF · Absorbs losses from 2.5% to 15.0% on SPY and caps the gain at 4.5%, over a period ending Jan 15, 2027 PNOV Innovator U.S. Equity Power Buffer ETF - Nov · Absorbs the first 15% of loss on SPY and caps the gain at 15.3%, over a period ending Oct 31, 2027
Issuer First Trust Innovator
Reference index SPY SPY
Buffer 2% to 15% 15%
Outcome period Oct 19, 2026 to Jan 15, 2027 Oct 31, 2026 to Oct 31, 2027
Days left 72 361
Starting cap +4.5% +15.3%
Can still gain 3.9% 14.3%
Fall before buffer 3.1% 0.9%
Protection left, index points 12.5% of 12.5% 15.0% of 15.0%
Index return this period +0.5% +1.4%
Fund return this period +0.4% +0.9%
State today Open Open
Expense ratio 0.85% 0.79%
Net assets, DHDG as of Nov 3, 2026 and PNOV as of Nov 4, 2026 $81m $857m

As of Nov 4, 2026. Source: ETFIQ.

They do not reset together. DHDG has 72 days of its period left and PNOV has 361, so the two are not the same bet on the same months.

Where each one stands today

DHDG resets first, on Jan 15, 2027, 72 days from now; PNOV runs to Oct 31, 2027, 361 days. DHDG can still gain 3.9% before its cap, PNOV 14.3%. A fall from here reaches DHDG’s buffer after 3.1% and PNOV’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.

Client brief:

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About each fund
DHDG

From its price on Nov 4, 2026, the fund can gain about 3.9% more before it reaches its cap. The fund's price can fall 3.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 2.9% from today's level to the point where the buffer begins. Protection left, in index points: 12.5% of the 12.5% buffer still sits below today's SPY level. 72 days remained on Nov 4, 2026. On Jan 15, 2027 the period ends and a new cap is set.

PNOV

From its price on Nov 4, 2026, the fund can gain about 14.3% more before it reaches its cap. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% 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. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DHDG or PNOV?
From their prices on Nov 4, 2026, DHDG can gain about 3.9% before its cap and PNOV about 14.3%, so PNOV has more room left this period.
Which resets first, DHDG or PNOV?
DHDG ends its outcome period on Jan 15, 2027 and PNOV on Oct 31, 2027. A new cap is set the day after each.
Which is cheaper, DHDG or PNOV?
DHDG charges 0.85% a year and PNOV charges 0.79%, so PNOV is cheaper. Fees come from each fund's prospectus.
Other comparisons
DHDG vs PFEBDHDG vs FOCTDHDG vs FJANDHDG vs DJANPNOV vs FAPRPNOV vs FJULPNOV vs PJANPNOV vs FJAN
Where to next
State Street® SPDR® S&P 500® ETF Trust →DHDG on its own →PNOV on its own →Method →Standards and sources →
Sources and dates
DHDG filings on SEC EDGAR ↗
First Trust page for DHDG ↗
PNOV filings on SEC EDGAR ↗
Innovator page for PNOV ↗

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.

Cite this pageCitation, APA and Markdown

ETFIQ, DHDG against PNOV, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/dhdg-vs-pnov

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