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IOCT vs QBIF: which one stands where?

As of Oct 1, 2026 QBIF can fall 0.2% before its buffer engages and IOCT 0.0%, and QBIF resets 273 days sooner. Innovator Intl Developed Power Buffer ETF - Oct and AllianzIM International Equity Buffer15 ETF - Jan.

0.0%
IOCT can fall this far before its buffer
0.2%
QBIF can fall this far before its buffer
19.2%
IOCT can still gain
2.9%
QBIF can still gain
IOCTBetween buffer and cap
Between buffer and capIOCT: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +19.2%; Between buffer and cap.15 pts of buffer+19.2% more to the cap−15.0% floor0% period start+19.2% capTODAY · EFA 0.0%Between buffer and capIOCT: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +19.2%; Between buffer and cap.15 pts+19.2% to cap−15.0% floor0% start+19.2% capTODAY · EFA 0.0%

IOCT: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +19.2%; Between buffer and cap.

QBIFBetween buffer and cap
Between buffer and capQBIF: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +3.1%; Between buffer and cap.15 pts of buffer−15.0% floor0% period start+3.1% capTODAY · EFA 0.0%Between buffer and capQBIF: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +3.1%; Between buffer and cap.15 pts−15.0% floor0% start+3.1% capTODAY · EFA 0.0%

QBIF: reference 0.0% since period start, fund 0.0%; buffer 0 to −15; cap +3.1%; Between buffer and cap.

ETFIQ Downside Cover Score · IOCT 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 →

They do not reset together. QBIF has 92 days of its period left and IOCT has 365, so the two are not the same bet on the same months.

Where each one stands today

QBIF resets first, on Dec 31, 2026, 92 days from now; IOCT runs to Sep 30, 2027, 365 days. IOCT can still gain 19.2% before its cap, QBIF 2.9%. A fall from here reaches IOCT’s buffer after 0.0% and QBIF’s after 0.2%. 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 returnGap to the reference
WindowIOCTQBIFIOCTQBIF
3 months+2.3%−0.2%+1.5 pts−1.1 pts
6 months+6.7%+3.6%−0.3 pts−3.4 pts
1 year+10.5%not published−4.5 ptsnot published
3 years+43.9%not published−21.8 ptsnot published

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

On the same fields

IOCT
Innovator Intl Developed Power Buffer ETF - Oct · Absorbs the first 15% of loss on EFA and caps the gain at 19.2%, over a period ending Sep 30, 2027
QBIF
AllianzIM International Equity Buffer15 ETF - Jan · Absorbs the first 15% of loss on EFA and caps the gain at 3.1%, over a period ending Dec 31, 2026
Issuer Innovator AllianzIM
Reference index EFA EFA
Buffer 15% 15%
Outcome period Sep 30, 2026 to Sep 30, 2027 Oct 1, 2026 to Dec 31, 2026
Days left 365 92
Starting cap +19.2% +3.1%
Can still gain 19.2% 2.9%
Fall before buffer 0.0% 0.2%
Protection left, index points 15.0% of 15.0% 15.0% of 15.0%
Index return this period 0.0% 0.0%
Fund return this period 0.0% 0.0%
State today Open Open
Expense ratio 0.85% 0.74%
Net assets $168m $8m

IOCT and QBIF on the same fields, as of Oct 1, 2026. Source: ETFIQ.

IOCT in plain words

From its price on Oct 1, 2026, the fund can gain about 19.2% more before it reaches its cap. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's EFA level. 365 days remained on Oct 1, 2026. On Sep 30, 2027 the period ends and a new cap is set.

QBIF in plain words

From its price on Oct 1, 2026, the fund can gain about 2.9% 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, EFA can fall 0.0% from today's level to the point where the buffer begins. 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, IOCT or QBIF?
From their prices on Oct 1, 2026, IOCT can gain about 19.2% before its cap and QBIF about 2.9%, so IOCT has more room left this period.
Which resets first, IOCT or QBIF?
IOCT ends its outcome period on Sep 30, 2027 and QBIF on Dec 31, 2026. A new cap is set the day after each.
Which is cheaper, IOCT or QBIF?
IOCT charges 0.85% a year and QBIF charges 0.74%, so QBIF is cheaper. Fees come from each fund's prospectus.
Other comparisons
IOCT vs OCTIIOCT vs YSEPIOCT vs IBUFIOCT vs QBIVQBIF vs JANIQBIF vs IJANQBIF vs QBIVQBIF vs YDEC
EFA →IOCT on its own →QBIF on its own →How every figure is computed →Standards and sources →
Where these figures came from
IOCT filings on SEC EDGAR ↗Innovator page for IOCT ↗QBIF filings on SEC EDGAR ↗AllianzIM page for QBIF ↗

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, IOCT against QBIF, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/ioct-vs-qbif

Open data

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