Data as of Nov 4, 2026.
SEPM vs XBOC: Cap, Buffer & Days Left
As of Nov 4, 2026 SEPM can fall 1.4% before its buffer engages and XBOC 0.9%, and SEPM resets 13 days sooner.
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Net assets: $38m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - September, and $60m on Nov 4, 2026 for Innovator U.S. Equity Accelerated 9 Buffer ETF - Oct.
SEPM: reference +0.7% since period start, fund +0.6%; buffer −0 to floor; cap +8.2%; Full floor. Data to Nov 4, 2026.
SEPM: reference +0.7% since period start, fund +0.6%; buffer −0 to floor; cap +8.2%; Full floor. Data to Nov 4, 2026.XBOC: reference +0.5% since period start, fund +0.8%; buffer 0 to −9; cap +13.7%; Between buffer and cap. Data to Nov 4, 2026.
XBOC: reference +0.5% since period start, fund +0.8%; buffer 0 to −9; cap +13.7%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
XBOC costs 0.06 points a year less; their one-year returns differ by 5.0 points; XBOC is 1.6 times larger.
Points (pts) are percentage points.
| Measure | SEPM | XBOC |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.4% | +11.4% |
| Drawdown | ||
| Index fall to the buffer | 0.7% | 0.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.79% |
| Net assets, as of Nov 3, 2026 | $38m | $59m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | SEPM | XBOC | SEPM | XBOC |
| 3 months | +1.3% | +1.8% | +1.6 pts | +2.2 pts |
| 6 months | +3.0% | +4.9% | −1.5 pts | +0.4 pts |
| 1 year | +6.4% | +11.4% | −7.2 pts | −2.1 pts |
| 3 years | – | +37.8% | – | −38.6 pts |
| Since launchNot the same days: SEPM Sep 2024 · XBOC Oct 2021 | +13.3% | +51.6% | −21.3 pts | −25.0 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. SEPM is a floor fund, which caps how far a holder can fall. XBOC 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
SEPM resets first, on Sep 17, 2027, 317 days from now; XBOC runs to Sep 30, 2027, 330 days. SEPM can still gain 6.8% before its cap, XBOC 12.7%. A fall from here reaches SEPM’s buffer after 1.4% and XBOC’s after 0.9%. Both track SPY, so what separates them is where each is in its own period.
SEPM
From its price on Nov 4, 2026, the fund can gain about 6.8% more before it reaches its cap. The fund's price can fall 1.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.7% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 317 days remained on Nov 4, 2026. On Sep 17, 2027 the period ends and a new cap is set.
XBOC
From its price on Nov 4, 2026, the fund can gain about 12.7% 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 0.5% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% 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.
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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.
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ETFIQ, SEPM against XBOC, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/sepm-vs-xboc
ETFIQ. (Nov 4, 2026). SEPM against XBOC. Retrieved from https://etfiq.com/compare/buffer/sepm-vs-xboc
[SEPM against XBOC (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/sepm-vs-xboc)
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