Data as of Nov 4, 2026.
FLAO vs OCTP: Cap, Buffer & Days Left
As of Nov 4, 2026 FLAO can fall 5.8% before its buffer engages and OCTP 1.1%, and FLAO resets 183 days sooner.
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Net assets: $8.6m on Nov 3, 2026 for AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF - Apr, and $52m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - October.
FLAO: reference +0.5% since period start, fund +0.5%; buffer −5 to floor; cap +7.1%; Full floor. Data to Nov 4, 2026.
FLAO: reference +0.5% since period start, fund +0.5%; buffer −5 to floor; cap +7.1%; Full floor. Data to Nov 4, 2026.OCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.
OCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
OCTP costs 0.24 points a year less; their one-year returns differ by 10.3 points; OCTP is 6.0 times larger.
Points (pts) are percentage points.
| Measure | FLAO | OCTP |
|---|---|---|
| Return | ||
| Total return, 1 year | +2.7% | +13.0% |
| Drawdown | ||
| Index fall to the buffer | 5.5% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.50% |
| Net assets, as of Nov 3, 2026 | $8.6m | $52m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FLAO | OCTP | FLAO | OCTP |
| 3 months | +1.2% | +2.4% | +1.6 pts | +2.8 pts |
| 6 months | +3.1% | +6.2% | −1.4 pts | +1.7 pts |
| 1 year | +2.7% | +13.0% | −10.8 pts | −0.6 pts |
| Since launchNot the same days: FLAO Apr 2024 · OCTP May 2024 | +15.5% | +34.7% | −31.4 pts | −10.1 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. FLAO is a floor fund, which caps how far a holder can fall. OCTP is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
They do not reset together. FLAO has 147 days of its period left and OCTP has 330, so the two are not the same bet on the same months.
Where each one stands today
FLAO resets first, on Mar 31, 2027, 147 days from now; OCTP runs to Sep 30, 2027, 330 days. FLAO can still gain 6.2% before its cap, OCTP 15.1%. A fall from here reaches FLAO’s buffer after 5.8% and OCTP’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.
FLAO
From its price on Nov 4, 2026, the fund can gain about 6.2% more before it reaches its cap. The fund's price can fall 5.8% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 5.5% from today's level to the point where the buffer begins. Protection left, in index points: 95.0% of the 95.0% buffer still sits below today's SPY level. 147 days remained on Nov 4, 2026. On Mar 31, 2027 the period ends and a new cap is set.
OCTP
From its price on Nov 4, 2026, the fund can gain about 15.1% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.5% from today's level to the point where the buffer begins. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. 330 days remained on Nov 4, 2026. On Sep 30, 2027 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
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, FLAO against OCTP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/flao-vs-octp
ETFIQ. (Nov 4, 2026). FLAO against OCTP. Retrieved from https://etfiq.com/compare/buffer/flao-vs-octp
[FLAO against OCTP (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/flao-vs-octp)
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