Data as of .
PBOC vs ZOCT: which one stands where?
As of Sep 21, 2026 PBOC can fall 9.3% before its buffer engages and ZOCT 6.1%.
These are two different products. ZOCT is a floor fund, which caps how far a holder can fall. PBOC is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
PBOC resets first, on Sep 30, 2026, 9 days from now; ZOCT runs to Sep 30, 2026, 9 days. PBOC can still gain 0.1% before its cap, ZOCT 0.1%. A fall from here reaches PBOC’s buffer after 9.3% and ZOCT’s after 6.1%. 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
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| PBOC | ZOCT | PBOC | ZOCT | |
| 3 months | +2.6% | +1.6% | +0.3 pts | −0.6 pts |
| 6 months | +9.4% | +5.0% | −8.7 pts | −13.1 pts |
| 1 year | +9.8% | +5.7% | −6.8 pts | −10.9 pts |
| PBOC PGIM S&P 500 Buffer 20 ETF - October Absorbs the first 20% of loss on SPY and caps the gain at 10.3%, over a period ending Sep 30, 2026 | ZOCT Innovator Equity Defined Protection ETF - 1 Yr October Absorbs the whole loss on SPY and caps the gain at 6.5%, over a period ending Sep 30, 2026 | |
|---|---|---|
| Issuer | PGIM | Innovator |
| Reference index | SPY | SPY |
| Buffer | 20% | 100% |
| Outcome period | Oct 1, 2025 to Sep 30, 2026 | Sep 30, 2025 to Sep 30, 2026 |
| Days left | 9 | 9 |
| Starting cap | +10.3% | +6.5% |
| Can still gain | 0.1% | 0.1% |
| Fall before buffer | 9.3% | 6.1% |
| Protection left, index points | 20.0% of 20.0% | 100.0% of 100.0% |
| Index return this period | +16.2% | +16.2% |
| Fund return this period | +9.7% | +5.6% |
| State today | At cap | At cap |
| Expense ratio | 0.50% | 0.79% |
| Net assets | $49m | $105m |
PBOC in plain words
SPY had already risen past this fund's cap of +10.3% 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 9.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 13.9% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 9 days remained on Sep 21, 2026. On Sep 30, 2026 the period ends and a new cap is set.
ZOCT in plain words
SPY had already risen past this fund's cap of +6.5% for the period on Sep 21, 2026, so in index terms there is no more upside to collect. The fund's price can fall 6.1% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
- Which has more room to gain, PBOC or ZOCT?
- From their prices on Sep 21, 2026, PBOC can gain about 0.1% before its cap and ZOCT about 0.1%, so PBOC has more room left this period.
- Which resets first, PBOC or ZOCT?
- PBOC ends its outcome period on Sep 30, 2026 and ZOCT on Sep 30, 2026. A new cap is set the day after each.
- Which is cheaper, PBOC or ZOCT?
- PBOC charges 0.50% a year and ZOCT charges 0.79%, so PBOC 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, PBOC against ZOCT, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/pboc-vs-zoct Free to use with attribution; the underlying files are at Open data.