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Data as of Nov 4, 2026.

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Buffer ETFs

QBSF 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 QBSF 0.8%, and QBSF resets 273 days sooner.

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Net assets: $68m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 ETF - Jan, and $271m on Nov 4, 2026 for Innovator U.S. Equity Ultra Buffer ETF - Oct.

QBSF on its own →UOCT on its own →
At a glance
0.8%
QBSF can fall this far before its buffer
5.7%
UOCT can fall this far before its buffer
2.1%
QBSF can still gain
14.4%
UOCT can still gain
QBSF Between buffer and cap
Between buffer and capQBSF: reference +0.5% since period start, fund +0.6%; buffer 0 to −15; cap +2.9%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer−15.0% floor0% period start+2.9% cap+0.5% gain captured+2.3% more to the capTODAY · SPY +0.5%Between buffer and capQBSF: reference +0.5% since period start, fund +0.6%; buffer 0 to −15; cap +2.9%; Between buffer and cap. Data to Nov 4, 2026.15 pts−15.0% floor0% start+2.9% cap+0.5% gain captured+2.3% more to the capTODAY · SPY +0.5%

QBSF: reference +0.5% since period start, fund +0.6%; buffer 0 to −15; cap +2.9%; Between buffer and cap. Data to Nov 4, 2026.

QBSF: reference +0.5% since period start, fund +0.6%; buffer 0 to −15; cap +2.9%; 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

QBSF costs 0.15 points a year less; their one-year returns differ by 3.4 points; UOCT is 3.9 times larger.

Points (pts) are percentage points.

QBSF vs UOCT: Cap, Buffer & Days Left
MeasureQBSFUOCT
Return
Total return, 1 year+6.9%+10.3%
Drawdown
Index fall to the buffer0.5%5.5%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.64%0.79%
Net assets, as of Nov 3, 2026$68m$267m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · QBSF scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score83.2QBSF72.1UOCT

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: QBSF vs UOCT: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowQBSFUOCTQBSFUOCT
3 months+1.2%+1.9%+1.6 pts+2.3 pts
6 months+3.2%+5.1%−1.3 pts+0.6 pts
1 year+6.9%+10.3%−6.6 pts−3.3 pts
3 years–+37.9%–−38.5 pts
Since launchNot the same days: QBSF Jul 2025 · UOCT Oct 2018+10.1%+77.5%−14.0 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

QBSF AllianzIM U.S. Equity Buffer15 ETF - Jan · Absorbs the first 15% of loss on SPY and caps the gain at 2.9%, over a period ending Dec 31, 2026 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 AllianzIM Innovator
Reference index SPY SPY
Buffer 15% 5% to 35%
Outcome period Oct 1, 2026 to Dec 31, 2026 Sep 30, 2026 to Sep 30, 2027
Days left 57 330
Starting cap +2.9% +15.3%
Can still gain 2.1% 14.4%
Fall before buffer 0.8% 5.7%
Protection left, index points 15.0% of 15.0% 30.0% of 30.0%
Index return this period +0.5% +0.5%
Fund return this period +0.6% +0.7%
State today Open Open
Expense ratio 0.64% 0.79%
Net assets, QBSF as of Nov 3, 2026 and UOCT as of Nov 4, 2026 $68m $271m

As of Nov 4, 2026. Source: ETFIQ.

They do not reset together. QBSF has 57 days of its period left and UOCT has 330, so the two are not the same bet on the same months.

Where each one stands today

QBSF resets first, on Dec 31, 2026, 57 days from now; UOCT runs to Sep 30, 2027, 330 days. QBSF can still gain 2.1% before its cap, UOCT 14.4%. A fall from here reaches QBSF’s buffer after 0.8% 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
QBSF

From its price on Nov 4, 2026, the fund can gain about 2.1% 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. 57 days remained on Nov 4, 2026. On Dec 31, 2026 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. 330 days remained on Nov 4, 2026. On Sep 30, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, QBSF or UOCT?
From their prices on Nov 4, 2026, QBSF can gain about 2.1% before its cap and UOCT about 14.4%, so UOCT has more room left this period.
Which resets first, QBSF or UOCT?
QBSF ends its outcome period on Dec 31, 2026 and UOCT on Sep 30, 2027. A new cap is set the day after each.
Which is cheaper, QBSF or UOCT?
QBSF charges 0.64% a year and UOCT charges 0.79%, so QBSF is cheaper. Fees come from each fund's prospectus.
Other comparisons
QBSF vs JANWQBSF vs JAJLQBSF vs BJANQBSF vs POCTUOCT vs DDFOUOCT vs UJANUOCT vs DAPRUOCT vs BJAN
Where to next
SPDR® S&P 500® ETF Trust →QBSF on its own →UOCT on its own →Method →Standards and sources →
Sources and dates
QBSF filings on SEC EDGAR ↗
AllianzIM page for QBSF ↗
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.

Cite this pageCitation, APA and Markdown

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

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