Which has more room to gain, POCT or XSEP?

From their prices on Nov 4, 2026, POCT can gain about 14.7% before its cap and XSEP about 9.4%, so POCT has more room left this period.

Which resets first, POCT or XSEP?

POCT ends its outcome period on Sep 30, 2027 and XSEP on Sep 17, 2027. A new cap is set the day after each.

Which is cheaper, POCT or XSEP?

POCT charges 0.79% a year and XSEP charges 0.85%, so POCT is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

POCT vs XSEP: Cap, Buffer & Days Left

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As of Nov 4, 2026 XSEP can fall 1.7% before its buffer engages and POCT 0.8%, and XSEP resets 13 days sooner.

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Net assets: $1.1bn on Nov 4, 2026 for Innovator U.S. Equity Power Buffer ETF - Oct, and $99m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September.

POCT on its own →XSEP on its own →

At a glance

0.8%

POCT can fall this far before its buffer

1.7%

XSEP can fall this far before its buffer

14.7%

POCT can still gain

9.4%

XSEP can still gain

POCT Between buffer and cap

POCT: reference +0.5% since period start, fund +0.7%; buffer 0 to −15; cap +15.6%; Between buffer and cap. Data to Nov 4, 2026.

XSEP Between buffer and cap

XSEP: reference +0.7% since period start, fund +0.9%; buffer 0 to −15; cap +11.2%; Between buffer and cap. Data to Nov 4, 2026.

Data to Nov 4, 2026.

Pair scorecard

POCT costs 0.06 points a year less; their one-year returns differ by 2.0 points; POCT is 11.1 times larger.

Points (pts) are percentage points.

POCT vs XSEP: Cap, Buffer & Days Left
Measure	POCT	XSEP
Return
Measure	POCT	XSEP
Total return, 1 year	+11.3%	+9.3%
Drawdown
Measure	POCT	XSEP
Index fall to the buffer	0.5%	0.6%
Benchmark
Measure	POCT	XSEP
What it tracks	SPY	SPY
Cost and size
Measure	POCT	XSEP
Expense ratio	0.79%	0.85%
Net assets, as of Nov 3, 2026	$1.1bn	$99m
Holdings
Measure	POCT	XSEP
Holdings in common	not published

Method

Window by window

Window by window: POCT vs XSEP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	POCT	XSEP	POCT	XSEP
3 months	+2.2%	+1.6%	+2.6 pts	+1.9 pts
6 months	+5.3%	+4.1%	+0.8 pts	−0.4 pts
1 year	+11.3%	+9.3%	−2.3 pts	−4.3 pts
3 years	+40.0%	+32.5%	−36.4 pts	−44.0 pts
Since launchNot the same days: POCT Oct 2018 · XSEP Sep 2022	+100.3%	+51.6%	−62.5 pts	−53.3 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

POCT Innovator U.S. Equity Power Buffer ETF - Oct · Absorbs the first 15% of loss on SPY and caps the gain at 15.6%, over a period ending Sep 30, 2027 XSEP FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September · Absorbs the first 0% to 15% of loss on SPY and caps the gain at 11.2%, over a period ending Sep 17, 2027

Issuer Innovator First Trust

Reference index SPY SPY

Buffer 15% 0% to 15%

Outcome period Sep 30, 2026 to Sep 30, 2027 Sep 21, 2026 to Sep 17, 2027

Days left 330 317

Starting cap +15.6% +11.2%

Can still gain 14.7% 9.4%

Fall before buffer 0.8% 1.7%

Protection left, index points 15.0% of 15.0% 15.0% of 15.0%

Index return this period +0.5% +0.7%

Fund return this period +0.7% +0.9%

State today Open Open

Expense ratio 0.79% 0.85%

Net assets, POCT as of Nov 4, 2026 and XSEP as of Nov 3, 2026 $1.1bn $99m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. XSEP is a floor fund, which caps how far a holder can fall. POCT 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

XSEP resets first, on Sep 17, 2027, 317 days from now; POCT runs to Sep 30, 2027, 330 days. POCT can still gain 14.7% before its cap, XSEP 9.4%. A fall from here reaches POCT’s buffer after 0.8% and XSEP’s after 1.7%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

POCT

From its price on Nov 4, 2026, the fund can gain about 14.7% more before it reaches its cap. The fund's price can fall 0.8% 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: 15.0% of the 15.0% 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.

XSEP

From its price on Nov 4, 2026, the fund can gain about 9.4% more before it reaches its cap. The fund's price can fall 1.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.6% from today's level to the point where the buffer begins. 317 days remained on Nov 4, 2026. On Sep 17, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, POCT or XSEP?: From their prices on Nov 4, 2026, POCT can gain about 14.7% before its cap and XSEP about 9.4%, so POCT has more room left this period.
Which resets first, POCT or XSEP?: POCT ends its outcome period on Sep 30, 2027 and XSEP on Sep 17, 2027. A new cap is set the day after each.
Which is cheaper, POCT or XSEP?: POCT charges 0.79% a year and XSEP charges 0.85%, so POCT is cheaper. Fees come from each fund's prospectus.

Other comparisons

POCT vs DDSQ POCT vs SIXO POCT vs OCTT POCT vs XBOC XSEP vs BALT XSEP vs SIXO XSEP vs FSEP XSEP vs ZALT

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →POCT on its own →XSEP on its own →Method →Standards and sources →

Sources and dates

POCT filings on SEC EDGAR ↗

Innovator page for POCT ↗

XSEP filings on SEC EDGAR ↗

First Trust page for XSEP ↗

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, POCT against XSEP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/poct-vs-xsep

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