Data as of .
FOCT vs UJAN: which one stands where?
As of Sep 13, 2026 UJAN can fall 11.8% before its buffer engages and FOCT 11.7%, and FOCT resets 76 days sooner.
ETFIQ Downside Cover Score: FOCT scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
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
FOCT resets first, on Oct 16, 2026, 35 days from now; UJAN runs to Dec 31, 2026, 111 days. FOCT can still gain 1.8% before its cap, UJAN 3.5%. A fall from here reaches FOCT’s buffer after 11.7% and UJAN’s after 11.8%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| FOCT | UJAN | FOCT | UJAN | |
| 3 months | +3.6% | +2.7% | +0.3 pts | −0.6 pts |
| 6 months | +11.8% | +8.2% | −4.2 pts | −7.8 pts |
| 1 year | +14.5% | +10.7% | −3.0 pts | −6.8 pts |
| 3 years | +41.7% | +39.7% | −36.2 pts | −38.2 pts |
| FOCT FT Vest U.S. Equity Buffer ETF - October Absorbs the first 10% of loss on SPY and caps the gain at 15.1%, over a period ending Oct 16, 2026 | UJAN Innovator U.S. Equity Ultra Buffer ETF - Jan Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 11.4%, over a period ending Dec 31, 2026 | |
|---|---|---|
| Issuer | First Trust | Innovator |
| Reference index | SPY | SPY |
| Buffer | 10% | 5% to 35% |
| Outcome period | Oct 20, 2025 to Oct 16, 2026 | Dec 31, 2025 to Dec 31, 2026 |
| Days left | 35 | 111 |
| Starting cap | +15.1% | +11.4% |
| Can still gain | 1.8% | 3.5% |
| Fall before buffer | 11.7% | 11.8% |
| Protection left, index points | 10.0% of 10.0% | 30.0% of 30.0% |
| Index return this period | +15.0% | +12.1% |
| Fund return this period | +12.3% | +7.0% |
| State today | Open | At cap |
| Expense ratio | 0.85% | 0.79% |
FOCT in plain words
From its price on Sep 13, 2026, the fund can gain about 1.8% more before it reaches its cap. The fund's price can fall 11.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 13.1% 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. 35 days remained on Sep 13, 2026. On Oct 16, 2026 the period ends and a new cap is set.
UJAN in plain words
SPY had already risen past this fund's cap of +11.4% for the period on Sep 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.5% as the period runs out. The fund's price can fall 11.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 15.2% 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. 111 days remained on Sep 13, 2026. On Dec 31, 2026 the period ends and a new cap is set.
Questions people ask
- Which has more room to gain, FOCT or UJAN?
- From their prices on Sep 13, 2026, FOCT can gain about 1.8% before its cap and UJAN about 3.5%, so UJAN has more room left this period.
- Which resets first, FOCT or UJAN?
- FOCT ends its outcome period on Oct 16, 2026 and UJAN on Dec 31, 2026. A new cap is set the day after each.
- Which is cheaper, FOCT or UJAN?
- FOCT charges 0.85% a year and UJAN charges 0.79%, so UJAN is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, FOCT against UJAN, data as of Sep 13, 2026. https://etfiq.com/compare/buffer/foct-vs-ujan Free to use with attribution; the underlying files are at Open data.