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GDEC vs QBSV: which one stands where?

As of Oct 1, 2026 GDEC can fall 8.4% before its buffer engages and QBSV 0.2%, and GDEC resets 13 days sooner. FT Vest U.S. Equity Moderate Buffer ETF - December and AllianzIM U.S. Equity Buffer5 ETF - Jan.

8.4%
GDEC can fall this far before its buffer
0.2%
QBSV can fall this far before its buffer
2.8%
GDEC can still gain
4.9%
QBSV can still gain
GDECBetween buffer and cap
Between buffer and capGDEC: reference +12.0% since period start, fund +8.2%; buffer 0 to −15; cap +12.1%; Between buffer and cap.15 pts of buffer+12% gain captured−15.0% floor0% period start+12.1% capTODAY · SPY +12.0%Between buffer and capGDEC: reference +12.0% since period start, fund +8.2%; buffer 0 to −15; cap +12.1%; Between buffer and cap.15 pts of buffer+12% gained−15.0% floor0% start+12.1% capTODAY · SPY +12.0%

GDEC: reference +12.0% since period start, fund +8.2%; buffer 0 to −15; cap +12.1%; Between buffer and cap.

QBSVBetween buffer and cap
Between buffer and capQBSV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +5.1%; Between buffer and cap.5 pts of buffer+5.1% to cap−5.0% floor0% period start+5.1% capTODAY · SPY 0.0%Between buffer and capQBSV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +5.1%; Between buffer and cap.−5.0% floor0% start+5.1% capTODAY · SPY 0.0%

QBSV: reference 0.0% since period start, fund 0.0%; buffer 0 to −5; cap +5.1%; Between buffer and cap.

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

GDEC resets first, on Dec 18, 2026, 79 days from now; QBSV runs to Dec 31, 2026, 92 days. GDEC can still gain 2.8% before its cap, QBSV 4.9%. A fall from here reaches GDEC’s buffer after 8.4% and QBSV’s after 0.2%. 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 returnGap to the reference
WindowGDECQBSVGDECQBSV
3 months+2.6%+2.2%+0.1 pts−0.3 pts
6 months+9.6%+8.2%−7.4 pts−8.8 pts
1 year+11.2%not published−4.5 ptsnot published

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

On the same fields

GDEC
FT Vest U.S. Equity Moderate Buffer ETF - December · Absorbs the first 15% of loss on SPY and caps the gain at 12.1%, over a period ending Dec 18, 2026
QBSV
AllianzIM U.S. Equity Buffer5 ETF - Jan · Absorbs the first 5% of loss on SPY and caps the gain at 5.1%, over a period ending Dec 31, 2026
Issuer First Trust AllianzIM
Reference index SPY SPY
Buffer 15% 5%
Outcome period Dec 22, 2025 to Dec 18, 2026 Oct 1, 2026 to Dec 31, 2026
Days left 79 92
Starting cap +12.1% +5.1%
Can still gain 2.8% 4.9%
Fall before buffer 8.4% 0.2%
Protection left, index points 15.0% of 15.0% 5.0% of 5.0%
Index return this period +12.0% 0.0%
Fund return this period +8.2% 0.0%
State today Open Open
Expense ratio 0.85% 0.64%
Net assets $382m $27m

GDEC and QBSV on the same fields, as of Oct 1, 2026. Source: ETFIQ.

GDEC in plain words

From its price on Oct 1, 2026, the fund can gain about 2.8% more before it reaches its cap. The fund's price can fall 8.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 10.7% 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. 79 days remained on Oct 1, 2026. On Dec 18, 2026 the period ends and a new cap is set.

QBSV in plain words

From its price on Oct 1, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 0.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 5.0% of the 5.0% 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.

Questions people ask

Which has more room to gain, GDEC or QBSV?
From their prices on Oct 1, 2026, GDEC can gain about 2.8% before its cap and QBSV about 4.9%, so QBSV has more room left this period.
Which resets first, GDEC or QBSV?
GDEC ends its outcome period on Dec 18, 2026 and QBSV on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, GDEC or QBSV?
GDEC charges 0.85% a year and QBSV charges 0.64%, so QBSV is cheaper. Fees come from each fund's prospectus.
Other comparisons
GDEC vs QBSFGDEC vs ZALTGDEC vs ZJANGDEC vs AIOOQBSV vs AOCTQBSV vs APOCQBSV vs CPSTQBSV vs GSEP
State Street® SPDR® S&P 500® ETF Trust →GDEC on its own →QBSV on its own →How every figure is computed →Standards and sources →
Where these figures came from
GDEC filings on SEC EDGAR ↗First Trust page for GDEC ↗QBSV filings on SEC EDGAR ↗AllianzIM page for QBSV ↗

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, GDEC against QBSV, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/gdec-vs-qbsv

Open data

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