Data as of Nov 4, 2026.
UOCT vs XSEP: Cap, Buffer & Days Left
As of Nov 4, 2026 UOCT can fall 5.7% before its buffer engages and XSEP 1.7%, and XSEP resets 13 days sooner.
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Net assets: $271m on Nov 4, 2026 for Innovator U.S. Equity Ultra Buffer ETF - Oct, and $99m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - September.
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.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.
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.Pair scorecard
UOCT costs 0.06 points a year less; their one-year returns differ by 1.0 point; UOCT is 2.7 times larger.
Points (pts) are percentage points.
| Measure | UOCT | XSEP |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.3% | +9.3% |
| Drawdown | ||
| Index fall to the buffer | 5.5% | 0.6% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $267m | $99m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | UOCT | XSEP | UOCT | XSEP |
| 3 months | +1.9% | +1.6% | +2.3 pts | +1.9 pts |
| 6 months | +5.1% | +4.1% | +0.6 pts | −0.4 pts |
| 1 year | +10.3% | +9.3% | −3.3 pts | −4.3 pts |
| 3 years | +37.9% | +32.5% | −38.5 pts | −44.0 pts |
| Since launchNot the same days: UOCT Oct 2018 · XSEP Sep 2022 | +77.5% | +51.6% | −85.4 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
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. UOCT 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; UOCT runs to Sep 30, 2027, 330 days. UOCT can still gain 14.4% before its cap, XSEP 9.4%. A fall from here reaches UOCT’s buffer after 5.7% and XSEP’s after 1.7%. Both track SPY, so what separates them is where each is in its own period.
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.
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. Protection left, in index points: 15.0% of the 15.0% 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.
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, UOCT against XSEP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/uoct-vs-xsep
ETFIQ. (Nov 4, 2026). UOCT against XSEP. Retrieved from https://etfiq.com/compare/buffer/uoct-vs-xsep
[UOCT against XSEP (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/uoct-vs-xsep)
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