Which has more room to gain, EALT or SQMX?

From their prices on Oct 1, 2026, EALT can gain about 7.0% before its cap and SQMX about 2.6%, so EALT has more room left this period.

Which resets first, EALT or SQMX?

EALT ends its outcome period on Dec 31, 2026 and SQMX on Dec 18, 2026. A new cap is set the day after each.

Which is cheaper, EALT or SQMX?

EALT charges 0.69% a year and SQMX charges 0.85%, so EALT is cheaper. Fees come from each fund's prospectus.

Share on X Download as PDF Open live

EALT vs SQMX: which one stands where?

As of Oct 1, 2026 EALT can fall 5.0% before its buffer engages and SQMX 0.4%, and SQMX resets 13 days sooner. Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly and FT Vest U.S. Equity Quarterly Max Buffer ETF.

5.0%

EALT can fall this far before its buffer

0.4%

SQMX can fall this far before its buffer

7.0%

EALT can still gain

2.6%

SQMX can still gain

EALTBetween buffer and cap

EALT: reference 0.0% since period start, fund 0.0%; buffer −5 to −15; cap +7.0%; Between buffer and cap.

SQMXBetween buffer and cap

SQMX: reference +0.1% since period start, fund +0.2%; buffer 0 to −12; cap +3.0%; Between buffer and cap.

ETFIQ Downside Cover Score · SQMX scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

EALT 34.3

SQMX 58.7

0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

Where each one stands today

SQMX resets first, on Dec 18, 2026, 79 days from now; EALT runs to Dec 31, 2026, 92 days. EALT can still gain 7.0% before its cap, SQMX 2.6%. A fall from here reaches EALT’s buffer after 5.0% and SQMX’s after 0.4%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	EALT	SQMX	EALT	SQMX
3 months	+2.1%	+1.9%	−0.4 pts	−0.6 pts
6 months	+8.3%	+4.5%	−8.7 pts	−12.5 pts
1 year	+5.8%	+7.0%	−9.9 pts	−8.7 pts

EALT and SQMX over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

EALT

Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly · Absorbs losses from 5.0% to 15.0% on SPY and caps the gain at 7.0%, over a period ending Dec 31, 2026

SQMX

FT Vest U.S. Equity Quarterly Max Buffer ETF · Absorbs the first 12% of loss on SPY and caps the gain at 3.0%, over a period ending Dec 18, 2026

Issuer Innovator First Trust

Reference index SPY SPY

Buffer 5% to 15% 12%

Outcome period Sep 30, 2026 to Dec 31, 2026 Sep 21, 2026 to Dec 18, 2026

Days left 92 79

Starting cap +7.0% +3.0%

Can still gain 7.0% 2.6%

Fall before buffer 5.0% 0.4%

Protection left, index points 10.0% of 10.0% 12.5% of 12.5%

Index return this period 0.0% +0.1%

Fund return this period 0.0% +0.2%

State today Open Open

Expense ratio 0.69% 0.85%

Net assets $181m $57m

EALT and SQMX on the same fields, as of Oct 1, 2026. Source: ETFIQ.

EALT in plain words

From its price on Oct 1, 2026, the fund can gain about 7.0% more before it reaches its cap. The fund's price can fall 5.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.0% 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. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

SQMX in plain words

From its price on Oct 1, 2026, the fund can gain about 2.6% more before it reaches its cap. The fund's price can fall 0.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.1% 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. 79 days remained on Oct 1, 2026. On Dec 18, 2026 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, EALT or SQMX?: From their prices on Oct 1, 2026, EALT can gain about 7.0% before its cap and SQMX about 2.6%, so EALT has more room left this period.
Which resets first, EALT or SQMX?: EALT ends its outcome period on Dec 31, 2026 and SQMX on Dec 18, 2026. A new cap is set the day after each.
Which is cheaper, EALT or SQMX?: EALT charges 0.69% a year and SQMX charges 0.85%, so EALT is cheaper. Fees come from each fund's prospectus.

Other comparisons

EALT vs OCTU EALT vs OCTW EALT vs PBJA EALT vs PBOC SQMX vs XBJA SQMX vs XDEC SQMX vs ZALT SQMX vs ZJAN

SPY →EALT on its own →SQMX on its own →How every figure is computed →Standards and sources →

Where these figures came from

EALT filings on SEC EDGAR ↗Innovator page for EALT ↗SQMX filings on SEC EDGAR ↗First Trust page for SQMX ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, EALT against SQMX, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ealt-vs-sqmx

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.