Data as of Nov 4, 2026.
PNOV vs XOCT: Cap, Buffer & Days Left
As of Nov 4, 2026 XOCT can fall 1.3% before its buffer engages and PNOV 0.9%, and XOCT resets 16 days sooner.
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Net assets: $857m on Nov 4, 2026 for Innovator U.S. Equity Power Buffer ETF - Nov, and $38m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - October.
PNOV: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.
PNOV: reference +1.4% since period start, fund +0.9%; buffer 0 to −15; cap +15.3%; Between buffer and cap. Data to Nov 4, 2026.XOCT: reference +0.5% since period start, fund +0.5%; buffer 0 to −15; cap +11.5%; Between buffer and cap. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PNOV costs 0.06 points a year less; their one-year returns differ by 2.0 points; PNOV is far larger, $834m against $38m.
Points (pts) are percentage points.
| Measure | PNOV | XOCT |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.5% | +9.5% |
| Drawdown | ||
| Index fall to the buffer | 1.4% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $834m | $38m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | PNOV | XOCT | PNOV | XOCT |
| 3 months | +1.9% | +1.9% | +2.3 pts | +2.3 pts |
| 6 months | +5.3% | +4.4% | +0.8 pts | −0.1 pts |
| 1 year | +11.5% | +9.5% | −2.0 pts | −4.0 pts |
| 3 years | +39.4% | +31.7% | −37.0 pts | −44.7 pts |
| Since launchNot the same days: PNOV Nov 2019 · XOCT Oct 2023 | +79.5% | +34.4% | −71.0 pts | −47.9 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. XOCT is a floor fund, which caps how far a holder can fall. PNOV 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
XOCT resets first, on Oct 15, 2027, 345 days from now; PNOV runs to Oct 31, 2027, 361 days. PNOV can still gain 14.3% before its cap, XOCT 10.1%. A fall from here reaches PNOV’s buffer after 0.9% and XOCT’s after 1.3%. Both track SPY, so what separates them is where each is in its own period.
PNOV
From its price on Nov 4, 2026, the fund can gain about 14.3% more before it reaches its cap. The fund's price can fall 0.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% 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 SPY level. 361 days remained on Nov 4, 2026. On Oct 31, 2027 the period ends and a new cap is set.
XOCT
From its price on Nov 4, 2026, the fund can gain about 10.1% more before it reaches its cap. The fund's price can fall 1.3% 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. 345 days remained on Nov 4, 2026. On Oct 15, 2027 the period ends and a new cap is set.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
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.
Cite this pageCitation, APA and Markdown
ETFIQ, PNOV against XOCT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pnov-vs-xoct
ETFIQ. (Nov 4, 2026). PNOV against XOCT. Retrieved from https://etfiq.com/compare/buffer/pnov-vs-xoct
[PNOV against XOCT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/pnov-vs-xoct)
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