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Data as of Nov 4, 2026.

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Buffer ETFs

OCTP vs UOCT: Cap, Buffer & Days Left

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As of Nov 4, 2026 UOCT can fall 5.7% before its buffer engages and OCTP 1.1%.

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Net assets on Nov 4, 2026: $52m for PGIM S&P 500 Buffer 12 ETF - October and $271m for Innovator U.S. Equity Ultra Buffer ETF - Oct.

OCTP on its own →UOCT on its own →
At a glance
1.1%
OCTP can fall this far before its buffer
5.7%
UOCT can fall this far before its buffer
15.1%
OCTP can still gain
14.4%
UOCT can still gain
OCTP Between buffer and cap
Between buffer and capOCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.12 pts of buffer+15.8% more to the cap−12.0% floor0% period start+16.3% cap+0.6% gain capturedTODAY · SPY +0.6%Between buffer and capOCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.12 pts−12.0% floor0% start+16.3% cap+0.6% gain captured+15.8% more to the capTODAY · SPY +0.6%

OCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.

OCTP: reference +0.6% since period start, fund +0.6%; buffer 0 to −12; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.
UOCT Between buffer and cap
Between buffer and capUOCT: reference +0.5% since period start, fund +0.7%; buffer −5 to −35; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.30 pts of buffer+14.8% more to the cap−35.0% floor−5.0% buffer start0% period start+15.3% capfirst 5 pts are yours to lose+0.5% gain capturedTODAY · SPY +0.5%Between buffer and capUOCT: reference +0.5% since period start, fund +0.7%; buffer −5 to −35; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.30 pts of buffer−35.0% floor−5.0% buffer start0% start+15.3% capfirst 5 pts are yours to lose+0.5% gain captured+14.8% more to the capTODAY · SPY +0.5%

UOCT: reference +0.5% since period start, fund +0.7%; buffer −5 to −35; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.

UOCT: reference +0.5% since period start, fund +0.7%; buffer −5 to −35; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

OCTP costs 0.29 points a year less; their one-year returns differ by 2.7 points; UOCT is 5.2 times larger.

Points (pts) are percentage points.

OCTP vs UOCT: Cap, Buffer & Days Left
MeasureOCTPUOCT
Return
Total return, 1 year+13.0%+10.3%
Drawdown
Index fall to the buffer0.5%5.5%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.50%0.79%
Net assets$52m$271m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · UOCT scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score57.5OCTP72.1UOCT

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

0.3, the lowest in this set 99.7, the highest

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 →

Method

Window by window

Window by window: OCTP vs UOCT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowOCTPUOCTOCTPUOCT
3 months+2.4%+1.9%+2.8 pts+2.3 pts
6 months+6.2%+5.1%+1.7 pts+0.6 pts
1 year+13.0%+10.3%−0.6 pts−3.3 pts
3 years–+37.9%–−38.5 pts
Since launchNot the same days: OCTP May 2024 · UOCT Oct 2018+34.7%+77.5%−10.1 pts−85.4 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

OCTP PGIM S&P 500 Buffer 12 ETF - October · Absorbs the first 12% of loss on SPY and caps the gain at 16.3%, over a period ending Sep 30, 2027 UOCT Innovator U.S. Equity Ultra Buffer ETF - Oct · Absorbs losses from 5.0% to 35.0% on SPY and caps the gain at 15.3%, over a period ending Sep 30, 2027
Issuer PGIM Innovator
Reference index SPY SPY
Buffer 12% 5% to 35%
Outcome period Oct 1, 2026 to Sep 30, 2027 Sep 30, 2026 to Sep 30, 2027
Days left 330 330
Starting cap +16.3% +15.3%
Can still gain 15.1% 14.4%
Fall before buffer 1.1% 5.7%
Protection left, index points 12.0% of 12.0% 30.0% of 30.0%
Index return this period +0.6% +0.5%
Fund return this period +0.6% +0.7%
State today Open Open
Expense ratio 0.50% 0.79%
Net assets $52m $271m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

OCTP resets first, on Sep 30, 2027, 330 days from now; UOCT runs to Sep 30, 2027, 330 days. OCTP can still gain 15.1% before its cap, UOCT 14.4%. A fall from here reaches OCTP’s buffer after 1.1% and UOCT’s after 5.7%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
OCTP

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 1.1% 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: 12.0% of the 12.0% buffer still sits below today's SPY level. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and a new cap is set.

UOCT

From its price on Nov 4, 2026, the fund can gain about 14.4% more before it reaches its cap. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 5.5% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, OCTP or UOCT?
From their prices on Nov 4, 2026, OCTP can gain about 15.1% before its cap and UOCT about 14.4%, so OCTP has more room left this period.
Which resets first, OCTP or UOCT?
OCTP ends its outcome period on Sep 30, 2027 and UOCT on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, OCTP or UOCT?
OCTP charges 0.50% a year and UOCT charges 0.79%, so OCTP is cheaper. Fees come from each fund's prospectus.
Other comparisons
OCTP vs ZOCTOCTP vs BOCTOCTP vs EALTOCTP vs DDFOUOCT vs XBOCUOCT vs OCTUUOCT vs PBOCUOCT vs CPST
Where to next
SPDR S&P 500 ETF Trust →OCTP on its own →UOCT on its own →Method →Standards and sources →
Sources and dates
OCTP filings on SEC EDGAR ↗
PGIM website ↗
UOCT filings on SEC EDGAR ↗
Innovator page for UOCT ↗

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.

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ETFIQ, OCTP against UOCT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/octp-vs-uoct

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.