Data as of Nov 4, 2026.
TOCT vs UOCT: Cap, Buffer & Days Left
As of Nov 4, 2026 UOCT can fall 5.7% before its buffer engages and TOCT 5.5%.
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Net assets on Nov 4, 2026: $14m for Innovator Equity Defined Protection ETF - Oct 2027 and $271m for Innovator U.S. Equity Ultra Buffer ETF - Oct.
TOCT: reference +15.1% since period start, fund +4.9%; buffer Floor; cap +12.8%; At its cap. Data to Nov 4, 2026.
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.
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
Both cost 0.79% a year; their one-year returns differ by 6.2 points; UOCT is 19.4 times larger.
Points (pts) are percentage points.
| Measure | TOCT | UOCT |
|---|---|---|
| Return | ||
| Total return, 1 year | +4.1% | +10.3% |
| Drawdown | ||
| Index fall to the buffer | 13.1% | 5.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.79% |
| Net assets | $14m | $271m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | TOCT | UOCT | TOCT | UOCT |
| 3 months | +0.7% | +1.9% | +1.1 pts | +2.3 pts |
| 6 months | +1.9% | +5.1% | −2.6 pts | +0.6 pts |
| 1 year | +4.1% | +10.3% | −9.4 pts | −3.3 pts |
| 3 years | – | +37.9% | – | −38.5 pts |
| Since launchNot the same days: TOCT Oct 2025 · UOCT Oct 2018 | +4.1% | +77.5% | −10.7 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. TOCT is a floor fund, which caps how far a holder can fall. UOCT is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
TOCT is already at its cap, so more rise in the index adds nothing to it before the period ends.
Both are Innovator funds, so the difference between them is the terms rather than the house.
Where each one stands today
TOCT resets first, on Sep 30, 2027, 330 days from now; UOCT runs to Sep 30, 2027, 330 days. TOCT can still gain 6.6% before its cap, UOCT 14.4%. A fall from here reaches TOCT’s buffer after 5.5% and UOCT’s after 5.7%. Both track SPY, so what separates them is where each is in its own period.
TOCT
SPY had already risen past this fund's cap of +12.8% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 6.6% as the period runs out. The fund's price can fall 5.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 13.1% 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. 330 days remained on Nov 4, 2026. On Sep 30, 2027 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.
Questions people ask
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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.
Cite this pageCitation, APA and Markdown
ETFIQ, TOCT against UOCT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/toct-vs-uoct
ETFIQ. (Nov 4, 2026). TOCT against UOCT. Retrieved from https://etfiq.com/compare/buffer/toct-vs-uoct
[TOCT against UOCT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/toct-vs-uoct)
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