Which has more room to gain, IBUF or YSEP?

From their prices on Oct 1, 2026, IBUF can gain about 4.0% before its cap and YSEP about 15.5%, so YSEP has more room left this period.

Which resets first, IBUF or YSEP?

IBUF ends its outcome period on Dec 31, 2026 and YSEP on Sep 17, 2027. A new cap is set the day after each.

Which is cheaper, IBUF or YSEP?

IBUF charges 0.85% a year and YSEP charges 0.90%, so IBUF is cheaper. Fees come from each fund's prospectus.

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IBUF vs YSEP: which one stands where?

As of Oct 1, 2026 YSEP can fall 0.5% before its buffer engages and IBUF 0.0%, and IBUF resets 260 days sooner. Innovator International Developed 10 Buffer ETF™ - Quarterly and FT Vest International Equity Moderate Buffer ETF - September.

0.0%

IBUF can fall this far before its buffer

0.5%

YSEP can fall this far before its buffer

4.0%

IBUF can still gain

15.5%

YSEP can still gain

IBUFBetween buffer and cap

IBUF: reference 0.0% since period start, fund 0.0%; buffer 0 to −10; cap +4.0%; Between buffer and cap.

YSEPBuffer working

YSEP: reference −1.0% since period start, fund −0.5%; buffer 0 to −15; cap +15.9%; Buffer working.

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

IBUF 34.3

YSEP 69.5

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 →

They do not reset together. IBUF has 92 days of its period left and YSEP has 352, so the two are not the same bet on the same months.

Where each one stands today

IBUF resets first, on Dec 31, 2026, 92 days from now; YSEP runs to Sep 17, 2027, 352 days. IBUF can still gain 4.0% before its cap, YSEP 15.5%. A fall from here reaches IBUF’s buffer after 0.0% and YSEP’s after 0.5%. Both track EFA, 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 return		Gap to the reference
Window	IBUF	YSEP	IBUF	YSEP
3 months	−0.1%	+3.0%	−0.9 pts	+2.1 pts
6 months	+5.5%	+7.3%	−1.6 pts	+0.3 pts
1 year	+10.2%	+11.1%	−4.9 pts	−4.0 pts
3 years	not published	+47.3%	not published	−18.3 pts

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

On the same fields

IBUF

Innovator International Developed 10 Buffer ETF™ - Quarterly · Absorbs the first 10% of loss on EFA and caps the gain at 4.0%, over a period ending Dec 31, 2026

YSEP

FT Vest International Equity Moderate Buffer ETF - September · Absorbs the first 15% of loss on EFA and caps the gain at 15.9%, over a period ending Sep 17, 2027

Issuer Innovator First Trust

Reference index EFA EFA

Buffer 10% 15%

Outcome period Sep 30, 2026 to Dec 31, 2026 Sep 21, 2026 to Sep 17, 2027

Days left 92 352

Starting cap +4.0% +15.9%

Can still gain 4.0% 15.5%

Fall before buffer 0.0% 0.5%

Protection left, index points 10.0% of 10.0% 14.0% of 15.0%

Index return this period 0.0% −1.0%

Fund return this period 0.0% −0.5%

State today Open Buffer working

Expense ratio 0.85% 0.90%

Net assets $114m $125m

IBUF and YSEP on the same fields, as of Oct 1, 2026. Source: ETFIQ.

IBUF in plain words

From its price on Oct 1, 2026, the fund can gain about 4.0% more before it reaches its cap. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's EFA level. 92 days remained on Oct 1, 2026. On Dec 31, 2026 the period ends and a new cap is set.

YSEP in plain words

From its price on Oct 1, 2026, the fund can gain about 15.5% more before it reaches its cap. The fund's price can fall 0.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, EFA can fall 0.0% from today's level to the point where the buffer begins. Protection left, in index points: 14.0% of the 15.0% buffer still sits below today's EFA level. 352 days remained on Oct 1, 2026. On Sep 17, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, IBUF or YSEP?: From their prices on Oct 1, 2026, IBUF can gain about 4.0% before its cap and YSEP about 15.5%, so YSEP has more room left this period.
Which resets first, IBUF or YSEP?: IBUF ends its outcome period on Dec 31, 2026 and YSEP on Sep 17, 2027. A new cap is set the day after each.
Which is cheaper, IBUF or YSEP?: IBUF charges 0.85% a year and YSEP charges 0.90%, so IBUF is cheaper. Fees come from each fund's prospectus.

Other comparisons

IBUF vs IOCT IBUF vs JANI IBUF vs QBIF IBUF vs QBIV YSEP vs OCTI YSEP vs IOCT YSEP vs QBIF YSEP vs QBIV

EFA →IBUF on its own →YSEP on its own →How every figure is computed →Standards and sources →

Where these figures came from

IBUF filings on SEC EDGAR ↗Innovator page for IBUF ↗YSEP filings on SEC EDGAR ↗First Trust page for YSEP ↗

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, IBUF against YSEP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ibuf-vs-ysep

Open data

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