Data as of Nov 4, 2026.
FSEP vs OCTU: Cap, Buffer & Days Left
As of Nov 4, 2026 FSEP can fall 1.5% before its buffer engages and OCTU 1.0%, and FSEP resets 13 days sooner.
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Net assets on Nov 3, 2026: $1.4bn for FT Vest U.S. Equity Buffer ETF - September and $60m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Oct.
FSEP: reference +0.7% since period start, fund +0.7%; buffer 0 to −10; cap +16.7%; Between buffer and cap. Data to Nov 4, 2026.
FSEP: reference +0.7% since period start, fund +0.7%; buffer 0 to −10; cap +16.7%; Between buffer and cap. Data to Nov 4, 2026.OCTU: reference +0.5% since period start, fund +0.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
OCTU: reference +0.5% since period start, fund +0.3%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.Pair scorecard
OCTU costs 0.11 points a year less; their one-year returns differ by 4.1 points; FSEP is far larger, $1.4bn against $60m.
Points (pts) are percentage points.
| Measure | FSEP | OCTU |
|---|---|---|
| Return | ||
| Total return, 1 year | +13.2% | +9.1% |
| Drawdown | ||
| Index fall to the buffer | 0.7% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.74% |
| Net assets, as of Nov 3, 2026 | $1.4bn | $60m |
| Holdings | ||
| Holdings in common | not published | |
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
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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FSEP | OCTU | FSEP | OCTU |
| 3 months | +2.2% | −1.1% | +2.6 pts | −0.7 pts |
| 6 months | +6.1% | +2.8% | +1.6 pts | −1.7 pts |
| 1 year | +13.2% | +9.1% | −0.4 pts | −4.5 pts |
| 3 years | +52.7% | – | −23.7 pts | – |
| Since launchNot the same days: FSEP Sep 2020 · OCTU Oct 2024 | +94.7% | +24.2% | −39.8 pts | −10.7 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
Where each one stands today
FSEP resets first, on Sep 17, 2027, 317 days from now; OCTU runs to Sep 30, 2027, 330 days. A fall from here reaches FSEP’s buffer after 1.5% and OCTU’s after 1.0%. Both track SPY, so what separates them is where each is in its own period.
FSEP
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 1.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.7% 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. 317 days remained on Nov 4, 2026. On Sep 17, 2027 the period ends and a new cap is set.
OCTU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 1.0% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and new terms are set.
Questions people ask
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.
Cite this pageCitation, APA and Markdown
ETFIQ, FSEP against OCTU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/fsep-vs-octu
ETFIQ. (Nov 4, 2026). FSEP against OCTU. Retrieved from https://etfiq.com/compare/buffer/fsep-vs-octu
[FSEP against OCTU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/fsep-vs-octu)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.