Data as of Oct 28, 2026.

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Buffer ETFs

DOCT vs UAPR: Cap, Buffer & Days Left

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As of Oct 28, 2026 UAPR can fall 12.9% before its buffer engages and DOCT 6.3%, and UAPR resets 198 days sooner.

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Net assets: $421m on Oct 27, 2026 for FT Vest U.S. Equity Deep Buffer ETF - October, and $159m on Oct 28, 2026 for Innovator U.S. Equity Ultra Buffer ETF - Apr.

At a glance
6.3%
DOCT can fall this far before its buffer
12.9%
UAPR can fall this far before its buffer
12.7%
DOCT can still gain
3.8%
UAPR 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−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.
UAPR At its cap
At its capUAPR: reference +18.7% since period start, fund +8.4%; buffer −5 to −35; cap +13.0%; At its cap. Data to Oct 28, 2026.30 pts of buffer+13% gain captured−35.0% floor−5.0% buffer start0% period start+13.0% capfirst 5 pts are yours to loseTODAY · SPY +18.7%At its capUAPR: reference +18.7% since period start, fund +8.4%; buffer −5 to −35; cap +13.0%; At its cap. Data to Oct 28, 2026.30 pts of buffer+13%−35.0% floor−5.0% buffer start0% start+13.0% capfirst 5 pts are yours to loseTODAY · SPY +18.7%

UAPR: reference +18.7% since period start, fund +8.4%; buffer −5 to −35; cap +13.0%; At its cap. Data to Oct 28, 2026.

UAPR: reference +18.7% since period start, fund +8.4%; buffer −5 to −35; cap +13.0%; At its cap. Data to Oct 28, 2026.

Pair scorecard

UAPR costs 0.06 points a year less; their one-year returns differ by 1.5 points; DOCT is 2.6 times larger.

Points (pts) are percentage points.

DOCT vs UAPR: Cap, Buffer & Days Left
MeasureDOCTUAPR
Return
Total return, 1 year+10.1%+11.6%
Drawdown
Index fall to the buffer6.1%19.9%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.79%
Net assets, as of Oct 27, 2026$421m$159m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · DOCT scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score72.1DOCT7.7UAPR

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 UAPR: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDOCTUAPRDOCTUAPR
3 months+4.3%+3.0%−1.5 pts−2.9 pts
6 months+6.8%+4.8%−1.7 pts−3.7 pts
1 year+10.1%+11.6%−2.3 pts−0.9 pts
3 years+44.1%+43.7%−44.0 pts−44.4 pts
Since launchNot the same days: DOCT Aug 2020 · UAPR Apr 2019+285.9%+46.6%+157.4 pts−123.6 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 UAPR Innovator U.S. Equity Ultra Buffer ETF - Apr · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 13.0%, over a period ending Mar 31, 2027
Reference index SPY SPY
Buffer 5% to 30% 5% to 35%
Outcome period Oct 19, 2026 to Oct 15, 2027 Mar 31, 2026 to Mar 31, 2027
Days left 352 154
Starting cap +14.2% +13.0%
Can still gain 12.7% 3.8%
Fall before buffer 6.3% 12.9%
Protection left, index points 25.0% of 25.0% 30.0% of 30.0%
Index return this period +1.2% +18.7%
Fund return this period +0.5% +8.4%
State today Open At cap
Expense ratio 0.85% 0.79%
Net assets, DOCT as of Oct 27, 2026 and UAPR as of Oct 28, 2026 $421m $159m

As of Oct 28, 2026. Source: ETFIQ.

UAPR is already at its cap, so more rise in the index adds nothing to it before the period ends.

They do not reset together. UAPR has 154 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

UAPR resets first, on Mar 31, 2027, 154 days from now; DOCT runs to Oct 15, 2027, 352 days. DOCT can still gain 12.7% before its cap, UAPR 3.8%. A fall from here reaches DOCT’s buffer after 6.3% and UAPR’s after 12.9%. Both track SPY, so what separates them is where each is in its own period.

Client brief · page 1 of 2 Report BR-FC9C8228B2

DOCT and UAPR 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. UAPR: Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 13.0%, over a period ending Mar 31, 2027. The starting caps are 1.2 points apart.
  2. Outcome period. DOCT runs Oct 19, 2026 to Oct 15, 2027 with 352 days left; UAPR runs Mar 31, 2026 to Mar 31, 2027 with 154 days left.
  3. What each follows (similar). Both follow SPY.

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.

UAPR

SPY had already risen past this fund's cap of +13.0% for the period on Oct 28, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.8% as the period runs out. The fund's price can fall 12.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 19.9% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level. 154 days remained on Oct 28, 2026. On Mar 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DOCT or UAPR?
From their prices on Oct 28, 2026, DOCT can gain about 12.7% before its cap and UAPR about 3.8%, so DOCT has more room left this period.
Which resets first, DOCT or UAPR?
DOCT ends its outcome period on Oct 15, 2027 and UAPR on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, DOCT or UAPR?
DOCT charges 0.85% a year and UAPR charges 0.79%, so UAPR 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 UAPR, data as of Oct 28, 2026. https://etfiq.com/compare/buffer/doct-vs-uapr

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