Data as of Oct 28, 2026.

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Buffer ETFs

DOCT vs PJUL: Cap, Buffer & Days Left

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As of Oct 28, 2026 DOCT can fall 6.3% before its buffer engages and PJUL 3.0%, and PJUL resets 107 days sooner.

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Net assets: $421m on Oct 27, 2026 for FT Vest U.S. Equity Deep Buffer ETF - October, and $1.3bn on Oct 28, 2026 for Innovator U.S. Equity Power Buffer ETF - Jul.

At a glance
6.3%
DOCT can fall this far before its buffer
3.0%
PJUL can fall this far before its buffer
12.7%
DOCT can still gain
10.7%
PJUL can still gain
DOCT Between buffer and cap
Between buffer and capDOCT: reference +1.2% since period start, fund +0.5%; buffer −5 to −30; cap +14.2%; Between buffer and cap. Data to Oct 28, 2026.25 pts of buffer+13% more to the cap−30.0% floor−5.0% buffer start0% period start+14.2% capfirst 5 pts are yours to lose+1.2% gain capturedTODAY · SPY +1.2%Between buffer and capDOCT: reference +1.2% since period start, fund +0.5%; buffer −5 to −30; cap +14.2%; Between buffer and cap. Data to Oct 28, 2026.25 pts of buffer−30.0% floor−5.0% buffer start0% start+14.2% capfirst 5 pts are yours to lose+1.2% gain captured+13% more to the capTODAY · SPY +1.2%

DOCT: reference +1.2% since period start, fund +0.5%; buffer −5 to −30; cap +14.2%; Between buffer and cap. Data to Oct 28, 2026.

DOCT: reference +1.2% since period start, fund +0.5%; buffer −5 to −30; cap +14.2%; Between buffer and cap. Data to Oct 28, 2026.
PJUL Between buffer and cap
Between buffer and capPJUL: reference +3.3% since period start, fund +2.8%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Oct 28, 2026.15 pts of buffer+3.3%+10.6% to cap−15.0% floor0% period start+14.0% capTODAY · SPY +3.3%Between buffer and capPJUL: reference +3.3% since period start, fund +2.8%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Oct 28, 2026.15 pts−15.0% floor0% start+14.0% cap+3.3% gain captured+10.6% more to the capTODAY · SPY +3.3%

PJUL: reference +3.3% since period start, fund +2.8%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Oct 28, 2026.

PJUL: reference +3.3% since period start, fund +2.8%; buffer 0 to −15; cap +14.0%; Between buffer and cap. Data to Oct 28, 2026.

Pair scorecard

PJUL costs 0.06 points a year less; their one-year returns differ by 1.2 points; PJUL is 3.1 times larger.

Points (pts) are percentage points.

DOCT vs PJUL: Cap, Buffer & Days Left
MeasureDOCTPJUL
Return
Total return, 1 year+10.1%+8.9%
Drawdown
Index fall to the buffer6.1%3.2%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.79%
Net assets, as of Oct 27, 2026$421m$1.3bn
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PJUL scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score72.1DOCT86.1PJUL

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

0.2, the lowest in this set 99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. 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: DOCT vs PJUL: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDOCTPJULDOCTPJUL
3 months+4.3%+3.6%−1.5 pts−2.3 pts
6 months+6.8%+4.9%−1.7 pts−3.7 pts
1 year+10.1%+8.9%−2.3 pts−3.5 pts
3 years+44.1%+52.0%−44.0 pts−36.0 pts
Since launchNot the same days: DOCT Aug 2020 · PJUL Aug 2018+285.9%+101.2%+157.4 pts−69.4 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

DOCT FT Vest U.S. Equity Deep Buffer ETF - October · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 14.2%, over a period ending Oct 15, 2027 PJUL Innovator U.S. Equity Power Buffer ETF - Jul · Absorbs the first 15% of loss on SPY and caps the gain at 14.0%, over a period ending Jun 30, 2027
Reference index SPY SPY
Buffer 5% to 30% 15%
Outcome period Oct 19, 2026 to Oct 15, 2027 Jun 30, 2026 to Jun 30, 2027
Days left 352 245
Starting cap +14.2% +14.0%
Can still gain 12.7% 10.7%
Fall before buffer 6.3% 3.0%
Protection left, index points 25.0% of 25.0% 15.0% of 15.0%
Index return this period +1.2% +3.3%
Fund return this period +0.5% +2.8%
State today Open Open
Expense ratio 0.85% 0.79%
Net assets, DOCT as of Oct 27, 2026 and PJUL as of Oct 28, 2026 $421m $1.3bn

As of Oct 28, 2026. Source: ETFIQ.

They do not reset together. PJUL has 245 days of its period left and DOCT has 352, so the two are not the same bet on the same months.

Where each one stands today

PJUL resets first, on Jun 30, 2027, 245 days from now; DOCT runs to Oct 15, 2027, 352 days. DOCT can still gain 12.7% before its cap, PJUL 10.7%. A fall from here reaches DOCT’s buffer after 6.3% and PJUL’s after 3.0%. Both track SPY, so what separates them is where each is in its own period.

Client brief · page 1 of 2 Report BR-8E2F934F85

DOCT and PJUL are built for the same job. How do they differ in cost, holdings and results?

  1. Protection and cap. DOCT: Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 14.2%, over a period ending Oct 15, 2027. PJUL: Absorbs the first 15% of loss on SPY and caps the gain at 14.0%, over a period ending Jun 30, 2027. The starting caps are 0.2 points apart.
  2. Outcome period. DOCT runs Oct 19, 2026 to Oct 15, 2027 with 352 days left; PJUL runs Jun 30, 2026 to Jun 30, 2027 with 245 days left.
  3. Size. DOCT has $421m in net assets and PJUL $1.3bn (net assets, as of Oct 27, 2026); PJUL is 3.1 times larger.

Data as of Oct 28, 2026.

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About each fund
DOCT

From its price on Oct 28, 2026, the fund can gain about 12.7% more before it reaches its cap. The fund's price can fall 6.3% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.1% 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. 352 days remained on Oct 28, 2026. On Oct 15, 2027 the period ends and a new cap is set.

PJUL

From its price on Oct 28, 2026, the fund can gain about 10.7% more before it reaches its cap. The fund's price can fall 3.0% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.2% 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. 245 days remained on Oct 28, 2026. On Jun 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DOCT or PJUL?
From their prices on Oct 28, 2026, DOCT can gain about 12.7% before its cap and PJUL about 10.7%, so DOCT has more room left this period.
Which resets first, DOCT or PJUL?
DOCT ends its outcome period on Oct 15, 2027 and PJUL on Jun 30, 2027. A new cap is set the day after each.
Which is cheaper, DOCT or PJUL?
DOCT charges 0.85% a year and PJUL charges 0.79%, so PJUL is cheaper. Fees come from each fund's prospectus.
Other comparisons
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Sources and dates

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, DOCT against PJUL, data as of Oct 28, 2026. https://etfiq.com/compare/buffer/doct-vs-pjul

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