Data as of .
NOCT vs QBUF: which one stands where?
As of Sep 21, 2026 NOCT can fall 12.5% before its buffer engages and QBUF 1.2%.
ETFIQ Downside Cover Score: QBUF scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
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
Both are Innovator funds, so the difference between them is the terms rather than the house.
Where each one stands today
NOCT resets first, on Sep 30, 2026, 9 days from now; QBUF runs to Sep 30, 2026, 9 days. NOCT can still gain 0.1% before its cap, QBUF 4.7%. A fall from here reaches NOCT’s buffer after 12.5% and QBUF’s after 1.2%. Both track QQQ, 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| NOCT | QBUF | NOCT | QBUF | |
| 3 months | +3.0% | 0.0% | +5.4 pts | +2.5 pts |
| 6 months | +13.6% | +5.8% | −10.7 pts | −18.5 pts |
| 1 year | +13.5% | +7.3% | −8.3 pts | −14.5 pts |
| 3 years | +51.3% | not published | −46.9 pts | not published |
| NOCT Innovator Growth-100 Power Buffer ETF - Oct Absorbs the first 15% of loss on QQQ and caps the gain at 14.3%, over a period ending Sep 30, 2026 | QBUF Innovator Nasdaq-100® 10 Buffer ETF™ - Quarterly Absorbs the first 10% of loss on QQQ and caps the gain at 6.0%, over a period ending Sep 30, 2026 | |
|---|---|---|
| Issuer | Innovator | Innovator |
| Reference index | QQQ | QQQ |
| Buffer | 15% | 10% |
| Outcome period | Sep 30, 2025 to Sep 30, 2026 | Jun 30, 2026 to Sep 30, 2026 |
| Days left | 9 | 9 |
| Starting cap | +14.3% | +6.0% |
| Can still gain | 0.1% | 4.7% |
| Fall before buffer | 12.5% | 1.2% |
| Protection left, index points | 15.0% of 15.0% | 10.0% of 10.0% |
| Index return this period | +23.4% | +0.6% |
| Fund return this period | +13.3% | +1.1% |
| State today | At cap | Open |
| Expense ratio | 0.79% | 0.79% |
| Net assets | $228m | $170m |
NOCT in plain words
QQQ had already risen past this fund's cap of +14.3% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 0.1% as the period runs out. The fund's price can fall 12.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 18.9% 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 QQQ level. 9 days remained on Sep 21, 2026. On Sep 30, 2026 the period ends and a new cap is set.
QBUF in plain words
From its price on Sep 21, 2026, the fund can gain about 4.7% more before it reaches its cap. The fund's price can fall 1.2% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 0.6% 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 QQQ level.
Questions people ask
- Which has more room to gain, NOCT or QBUF?
- From their prices on Sep 21, 2026, NOCT can gain about 0.1% before its cap and QBUF about 4.7%, so QBUF has more room left this period.
- Which resets first, NOCT or QBUF?
- NOCT ends its outcome period on Sep 30, 2026 and QBUF on Sep 30, 2026. A new cap is set the day after each.
- Which is cheaper, NOCT or QBUF?
- NOCT charges 0.79% a year and QBUF charges 0.79%, so NOCT is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, NOCT against QBUF, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/noct-vs-qbuf Free to use with attribution; the underlying files are at Open data.