Which has more room to gain, FOCT or XOCT?

From their prices on Nov 4, 2026, FOCT can gain about 15.8% before its cap and XOCT about 10.1%, so FOCT has more room left this period.

Which resets first, FOCT or XOCT?

FOCT ends its outcome period on Oct 15, 2027 and XOCT on Oct 15, 2027. A new cap is set the day after each.

Which is cheaper, FOCT or XOCT?

FOCT and XOCT both charge 0.85% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

FOCT vs XOCT: Cap, Buffer & Days Left

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As of Nov 4, 2026 FOCT can fall 1.3% before its buffer engages and XOCT 1.3%.

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Net assets on Nov 3, 2026: $1.3bn for FT Vest U.S. Equity Buffer ETF - October and $38m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October.

FOCT on its own →XOCT on its own →

At a glance

1.3%

FOCT can fall this far before its buffer

1.3%

XOCT can fall this far before its buffer

15.8%

FOCT can still gain

10.1%

XOCT can still gain

FOCT Between buffer and cap

FOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −10; cap +17.2%; Between buffer and cap. Data to Nov 4, 2026.

XOCT Between buffer and cap

XOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −15; cap +11.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

Both cost 0.85% a year; their one-year returns differ by 4.2 points; FOCT is far larger, $1.3bn against $38m.

Points (pts) are percentage points.

FOCT vs XOCT: Cap, Buffer & Days Left
Measure	FOCT	XOCT
Return
Measure	FOCT	XOCT
Total return, 1 year	+13.7%	+9.5%
Drawdown
Measure	FOCT	XOCT
Index fall to the buffer	0.5%
Benchmark
Measure	FOCT	XOCT
What it tracks	SPY	SPY
Cost and size
Measure	FOCT	XOCT
Expense ratio	0.85%	0.85%
Net assets, as of Nov 3, 2026	$1.3bn	$38m
Holdings
Measure	FOCT	XOCT
Holdings in common	not published

Method

Window by window

Window by window: FOCT vs XOCT: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	FOCT	XOCT	FOCT	XOCT
3 months	+2.9%	+1.9%	+3.3 pts	+2.3 pts
6 months	+6.7%	+4.4%	+2.2 pts	−0.1 pts
1 year	+13.7%	+9.5%	+0.1 pts	−4.0 pts
3 years	+49.2%	+31.7%	−27.2 pts	−44.7 pts
Since launchNot the same days: FOCT Oct 2020 · XOCT Oct 2023	+85.0%	+34.4%	−39.2 pts	−47.9 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

FOCT FT Vest U.S. Equity Buffer ETF - October · Absorbs the first 10% of loss on SPY and caps the gain at 17.2%, over a period ending Oct 15, 2027 XOCT FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October · Absorbs the first 15% of loss on SPY and caps the gain at 11.5%, over a period ending Oct 15, 2027

Issuer First Trust First Trust

Reference index SPY SPY

Buffer 10% 15%

Outcome period Oct 19, 2026 to Oct 15, 2027 Oct 19, 2026 to Oct 15, 2027

Days left 345 345

Starting cap +17.2% +11.5%

Can still gain 15.8% 10.1%

Fall before buffer 1.3% 1.3%

Protection left, index points 10.0% of 10.0% 15.0% of 15.0%

Index return this period +0.5% +0.5%

Fund return this period +0.5% +0.5%

State today Open Open

Expense ratio 0.85% 0.85%

Net assets, as of Nov 3, 2026 $1.3bn $38m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. XOCT is a floor fund, which caps how far a holder can fall. FOCT is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Both are First Trust funds, so the difference between them is the terms rather than the house.

Where each one stands today

FOCT resets first, on Oct 15, 2027, 345 days from now; XOCT runs to Oct 15, 2027, 345 days. FOCT can still gain 15.8% before its cap, XOCT 10.1%. A fall from here reaches FOCT’s buffer after 1.3% and XOCT’s after 1.3%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

FOCT

From its price on Nov 4, 2026, the fund can gain about 15.8% more before it reaches its cap. The fund's price can fall 1.3% 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: 10.0% of the 10.0% buffer still sits below today's SPY level. 345 days remained on Nov 4, 2026. On Oct 15, 2027 the period ends and a new cap is set.

XOCT

From its price on Nov 4, 2026, the fund can gain about 10.1% more before it reaches its cap. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, FOCT or XOCT?: From their prices on Nov 4, 2026, FOCT can gain about 15.8% before its cap and XOCT about 10.1%, so FOCT has more room left this period.
Which resets first, FOCT or XOCT?: FOCT ends its outcome period on Oct 15, 2027 and XOCT on Oct 15, 2027. A new cap is set the day after each.
Which is cheaper, FOCT or XOCT?: FOCT and XOCT both charge 0.85% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

FOCT vs CPSN FOCT vs PBNV FOCT vs NVBU FOCT vs CPSO XOCT vs CPSN XOCT vs CPSO XOCT vs GOCT XOCT vs ZNOV

Where to next

State Street® SPDR® S&P 500® ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →FOCT on its own →XOCT on its own →Method →Standards and sources →

Sources and dates

FOCT and XOCT filings on SEC EDGAR ↗

First Trust page for FOCT ↗

First Trust page for XOCT ↗

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, FOCT against XOCT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/foct-vs-xoct

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.