Trading · ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among buffer ETFs
Cheapest buffer ETFs to trade
As of Oct 22, 2026, BALT’s 30-day median bid-ask spread is 0.03%, so a $10,000 order costs $1.50 one way. See 100 funds ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among buffer ETFs. Updated Oct 22, 2026.
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Ask IQ about Cheapest buffer ETFs to tradeAnswers cite the figures on this page.
| # | Ticker | Fund | Score | Tier | Cost to trade ↑ | At $10,000 | Full cost to own · 1 yr | Fee | Flags | Net assets |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | BALT | Innovator Defined Wealth Shield ETF - Quarterly | Not scored | No tier | 0.015% | $1.50 | Not measured | 0.69% | None | $3.2bn |
| 2 | PDEC | Innovator U.S. Equity Power Buffer ETF - Dec | Not scored | No tier | 0.020% | $2.00 | Not measured | 0.79% | None | $985m |
| 3 | BDEC | Innovator U.S. Equity Buffer ETF - Dec | Not scored | No tier | 0.025% | $2.50 | Not measured | 0.79% | None | $214m |
| 4 | FAUG | FT Vest U.S. Equity Buffer ETF - August | Not scored | No tier | 0.035% | $3.50 | Not measured | 0.85% | One dealer | $1.4bn |
| 5 | GDEC | FT Vest U.S. Equity Moderate Buffer ETF - December | Not scored | No tier | 0.035% | $3.50 | Not measured | 0.85% | None | $436m |
| 6 | ZOCT | Innovator Equity Defined Protection ETF - 1 Yr October | Not scored | No tier | 0.035% | $3.50 | Not measured | 0.79% | None | $215m |
| 7 | JANT | AllianzIM U.S. Equity Buffer10 ETF - Jan | Not scored | No tier | 0.035% | $3.50 | Not measured | 0.74% | None | $56m |
| 8 | POCT | Innovator U.S. Equity Power Buffer ETF - Oct | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.79% | None | $1.1bn |
| 9 | DAUG | FT Vest U.S. Equity Deep Buffer ETF - August | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.85% | One dealer | $443m |
| 10 | JANW | AllianzIM U.S. Equity Buffer20 ETF - Jan | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.74% | None | $356m |
| 11 | APRW | AllianzIM U.S. Equity Buffer20 ETF - Apr | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.74% | One dealer | $203m |
| 12 | UFEB | Innovator U.S. Equity Ultra Buffer ETF - Feb | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.79% | None | $170m |
| 13 | SIXJ | AllianzIM U.S. Equity Buffer10 ETF - Jan | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.74% | None | $149m |
| 14 | SIXO | AllianzIM U.S. Equity Buffer10 ETF - Apr | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.74% | One dealer | $119m |
| 15 | JULT | AllianzIM U.S. Equity Buffer10 ETF - Jul | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.74% | None | $58m |
| 16 | APRT | AllianzIM U.S. Equity Buffer10 ETF - Apr | Not scored | No tier | 0.040% | $4.00 | Not measured | 0.74% | One dealer | $47m |
| 17 | ZALT | Innovator U.S. Equity 10 Buffer ETF - Quarterly | Not scored | No tier | 0.045% | $4.50 | Not measured | 0.69% | None | $827m |
| 18 | OCTW | AllianzIM U.S. Equity Buffer20 ETF - Oct | Not scored | No tier | 0.045% | $4.50 | Not measured | 0.74% | None | $343m |
| 19 | UDEC | Innovator U.S. Equity Ultra Buffer ETF - Dec | Not scored | No tier | 0.045% | $4.50 | Not measured | 0.79% | None | $238m |
| 20 | MAYM | FT Vest U.S. Equity Max Buffer ETF - May | Not scored | No tier | 0.045% | $4.50 | Not measured | 0.85% | None | $39m |
| 21 | FMAY | FT Vest U.S. Equity Buffer ETF - May | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.85% | One dealer | $1.5bn |
| 22 | FSEP | FT Vest U.S. Equity Buffer ETF - September | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.85% | None | $1.4bn |
| 23 | FJUL | FT Vest U.S. Equity Buffer ETF - July | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.85% | None | $1.4bn |
| 24 | FFEB | FT Vest U.S. Equity Buffer ETF - February | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.85% | One dealer | $1.4bn |
| 25 | DSEP | FT Vest U.S. Equity Deep Buffer ETF - September | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.85% | None | $425m |
| 26 | BJAN | Innovator U.S. Equity Buffer ETF - Jan | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.79% | None | $346m |
| 27 | JULW | AllianzIM U.S. Equity Buffer20 ETF - Jul | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.74% | None | $255m |
| 28 | DDFD | Innovator Equity Dual Directional 15 Buffer ETF - Dec | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.79% | None | $96m |
| 29 | OCTT | AllianzIM U.S. Equity Buffer10 ETF - Oct | Not scored | No tier | 0.050% | $5.00 | Not measured | 0.74% | None | $59m |
| 30 | BOCT | Innovator U.S. Equity Buffer ETF - Oct | Not scored | No tier | 0.055% | $5.50 | Not measured | 0.79% | None | $360m |
| 31 | ZDEK | Innovator Equity Defined Protection ETF - 1 Yr December | Not scored | No tier | 0.055% | $5.50 | Not measured | 0.79% | None | $108m |
| 32 | PJAN | Innovator U.S. Equity Power Buffer ETF - Jan | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.79% | None | $1.4bn |
| 33 | PMAY | Innovator U.S. Equity Power Buffer ETF - May | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.79% | None | $786m |
| 34 | GJUN | FT Vest U.S. Equity Moderate Buffer ETF - June | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.85% | None | $505m |
| 35 | DJUL | FT Vest U.S. Equity Deep Buffer ETF - July | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.85% | None | $491m |
| 36 | DFEB | FT Vest U.S. Equity Deep Buffer ETF - February | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.85% | None | $453m |
| 37 | BJUL | Innovator U.S. Equity Buffer ETF - Jul | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.79% | None | $360m |
| 38 | NJAN | Innovator Growth-100 Power Buffer ETF - Jan | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.79% | None | $335m |
| 39 | GAPR | FT Vest U.S. Equity Moderate Buffer ETF - April | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.85% | None | $297m |
| 40 | SEPW | AllianzIM U.S. Equity Buffer20 ETF - Sep | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.74% | None | $134m |
| 41 | QCAP | FT Vest Nasdaq-100 Conservative Buffer ETF - April | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.90% | One dealer | $125m |
| 42 | QCOC | FT Vest Nasdaq-100 Conservative Buffer ETF - October | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.90% | None | $68m |
| 43 | QMFE | FT Vest Nasdaq-100 Moderate Buffer ETF - February | Not scored | No tier | 0.060% | $6.00 | Not measured | 0.90% | None | $43m |
| 44 | PSEP | Innovator U.S. Equity Power Buffer ETF - Sep | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | None | $1.2bn |
| 45 | PAUG | Innovator U.S. Equity Power Buffer ETF - Aug | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | None | $1.0bn |
| 46 | PNOV | Innovator U.S. Equity Power Buffer ETF - Nov | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | One dealer | $831m |
| 47 | BFEB | Innovator U.S. Equity Buffer ETF - Feb | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | None | $206m |
| 48 | DDFO | Innovator Equity Dual Directional 15 Buffer ETF - Oct | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | None | $157m |
| 49 | QCJA | FT Vest Nasdaq-100 Conservative Buffer ETF - January | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.90% | None | $77m |
| 50 | NDEC | Innovator Growth-100 Power Buffer ETF - Dec | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | None | $60m |
| 51 | KMAR | Innovator U.S. Small Cap Power Buffer ETF - Mar | Not scored | No tier | 0.065% | $6.50 | Not measured | 0.79% | None | $32m |
| 52 | FJAN | FT Vest U.S. Equity Buffer ETF - January | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.85% | One dealer | $1.5bn |
| 53 | PFEB | Innovator U.S. Equity Power Buffer ETF - Feb | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | None | $890m |
| 54 | GAUG | FT Vest U.S. Equity Moderate Buffer ETF - August | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.85% | None | $418m |
| 55 | DMAY | FT Vest U.S. Equity Deep Buffer ETF - May | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.85% | One dealer | $389m |
| 56 | BAUG | Innovator U.S. Equity Buffer ETF - Aug | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | None | $271m |
| 57 | ZSEP | Innovator Equity Defined Protection ETF - 1 Yr September | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | None | $243m |
| 58 | BMAY | Innovator U.S. Equity Buffer ETF - May | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | One dealer | $181m |
| 59 | XMAR | FT Vest U.S. Equity Enhance & Moderate Buffer ETF - March | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.85% | None | $160m |
| 60 | MARM | FT Vest U.S. Equity Max Buffer ETF - March | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.85% | None | $107m |
| 61 | ZJAN | Innovator Equity Defined Protection ETF - 1 Yr January | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | None | $106m |
| 62 | XBJA | Innovator U.S. Equity Accelerated 9 Buffer ETF - Jan | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | None | $94m |
| 63 | TJAN | Innovator Equity Defined Protection ETF - Jan 2027 | Not scored | No tier | 0.070% | $7.00 | Not measured | 0.79% | None | $32m |
| 64 | FOCT | FT Vest U.S. Equity Buffer ETF - October | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.85% | None | $1.3bn |
| 65 | FNOV | FT Vest U.S. Equity Buffer ETF - November | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.85% | None | $1.3bn |
| 66 | UJAN | Innovator U.S. Equity Ultra Buffer ETF - Jan | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.79% | None | $250m |
| 67 | UJUN | Innovator U.S. Equity Ultra Buffer ETF - Jun | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.79% | None | $184m |
| 68 | UMAY | Innovator U.S. Equity Ultra Buffer ETF - May | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.79% | One dealer | $86m |
| 69 | XBJL | Innovator U.S. Equity Accelerated 9 Buffer ETF - Jul | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.79% | One dealer | $77m |
| 70 | QMNV | FT Vest Nasdaq-100 Moderate Buffer ETF - November | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.90% | None | $45m |
| 71 | DECM | FT Vest U.S. Equity Max Buffer ETF - December | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.85% | None | $35m |
| 72 | TAPR | Innovator Equity Defined Protection ETF - Apr 2027 | Not scored | No tier | 0.075% | $7.50 | Not measured | 0.79% | None | $11m |
| 73 | PAPR | Innovator U.S. Equity Power Buffer ETF - Apr | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | None | $962m |
| 74 | PJUN | Innovator U.S. Equity Power Buffer ETF - Jun | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | One dealer | $877m |
| 75 | QDEC | FT Vest Nasdaq-100 Buffer ETF - December | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.90% | One dealer | $699m |
| 76 | GMAY | FT Vest U.S. Equity Moderate Buffer ETF - May | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.85% | None | $445m |
| 77 | BAPR | Innovator U.S. Equity Buffer ETF - Apr | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | None | $415m |
| 78 | GSEP | FT Vest U.S. Equity Moderate Buffer ETF - September | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.85% | None | $368m |
| 79 | NOCT | Innovator Growth-100 Power Buffer ETF - Oct | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | None | $314m |
| 80 | JAJL | Innovator Equity Defined Protection ETF - 6 Mo Jan/Jul | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | None | $303m |
| 81 | DECW | AllianzIM U.S. Equity Buffer20 ETF - Dec | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.74% | None | $229m |
| 82 | QBUF | Innovator Nasdaq-100 10 Buffer ETF - Quarterly | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | None | $199m |
| 83 | EALT | Innovator U.S. Equity 5 to 15 Buffer ETF - Quarterly | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.69% | None | $186m |
| 84 | XBAP | Innovator U.S. Equity Accelerated 9 Buffer ETF - Apr | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.79% | None | $128m |
| 85 | MARW | AllianzIM U.S. Equity Buffer20 ETF - Mar | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.74% | None | $86m |
| 86 | DHDG | FT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETF | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.85% | None | $78m |
| 87 | EBUF | Innovator Emerging Markets 10 Buffer ETF - Quarterly | Not scored | No tier | 0.080% | $8.00 | Not measured | 0.89% | None | $45m |
| 88 | GJAN | FT Vest U.S. Equity Moderate Buffer ETF - January | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.85% | None | $440m |
| 89 | DOCT | FT Vest U.S. Equity Deep Buffer ETF - October | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.85% | None | $415m |
| 90 | DNOV | FT Vest U.S. Equity Deep Buffer ETF - November | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.85% | One dealer | $409m |
| 91 | DAPR | FT Vest U.S. Equity Deep Buffer ETF - April | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.85% | None | $334m |
| 92 | UOCT | Innovator U.S. Equity Ultra Buffer ETF - Oct | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.79% | None | $259m |
| 93 | BMAR | Innovator U.S. Equity Buffer ETF - Mar | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.79% | None | $202m |
| 94 | DECT | AllianzIM U.S. Equity Buffer10 ETF - Dec | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.74% | None | $125m |
| 95 | ZMAR | Innovator Equity Defined Protection ETF - 1 Yr March | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.79% | None | $111m |
| 96 | AUGM | FT Vest U.S. Equity Max Buffer ETF - August | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.85% | None | $66m |
| 97 | DECU | AllianzIM U.S. Equity Buffer15 Uncapped ETF - Dec | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.74% | None | $52m |
| 98 | DQJN | FT Vest Nasdaq-100 Dual Directional Buffer ETF - June | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.90% | None | $16m |
| 99 | FLAO | AllianzIM U.S. Equity 6 Month Floor5 Apr/Oct ETF - Apr | Not scored | No tier | 0.085% | $8.50 | Not measured | 0.74% | None | $9m |
| 100 | FDEC | FT Vest U.S. Equity Buffer ETF - December | Not scored | No tier | 0.090% | $9.00 | Not measured | 0.85% | One dealer | $1.3bn |
Cheapest buffer ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among buffer ETFs, as of Oct 22, 2026. Cost to trade is one way for a $10,000 order, half the issuer’s median spread over the 30 days to Oct 22, 2026. Source: ETFIQ.
Method
Every ETF ETFIQ places among buffer ETFs whose issuer states a 30-day median bid-ask spread, by the cost to trade a $10,000 order one way: half that spread. A tie is broken by net assets. 294 of the 4,708 ETFs that may be listed qualify tonight, and the first 100 are shown.
The rest of the method
The IQ Liquidity Score measures trading conditions, not the fund, and no list here is a recommendation. The list sorts one published figure, with no scoring or weighting. Too new and closing funds are left out, as are funds no longer listed.
Where to next
ETF trading costs and liquidity→How the IQ Liquidity Score is built→Most liquid ETFs100 →Most liquid small ETFs53 →Low-volume ETFs with deep liquidity6 →ETFs whose full cost to own is far above the fee8 →Widest ETF premiums and discounts, last 30 days100 →ETFs with the most days more than 1% from NAV100 →ETFs with one active authorized participant100 →ETFs with the most authorized participants100 →The trading score file→
Where these figures came from
Rule 6c-11, what every ETF must publish daily: its spread, premium and holdings ↗SEC EDGAR, full-text search of fund filings ↗SEC Form N-PORT, what a fund filed it holds ↗Rule 19a-1, what a distribution notice must say ↗
ETFIQ links to the documents behind every figure; a link is not an endorsement. A ranking is not a recommendation or an opinion.
Questions people ask
What does an ETF’s bid-ask spread cost?
Half the spread each way, on average, when you trade at the quote. A limit order at the midpoint plus half the spread caps it.
Which ETF tops this list as of Oct 22, 2026?
BALT, at 0.015% one way, $1.50 on $10,000, from a 30-day median spread of 0.03% to Oct 22, 2026.
Cite this pageCitation, APA and Markdown
ETFIQ, Cheapest buffer ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among buffer ETFs, data as of Oct 22, 2026. https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade
ETFIQ. (Oct 22, 2026). Cheapest buffer ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among buffer ETFs. Retrieved from https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade
[Cheapest buffer ETFs to trade, ranked by cost to trade $10,000 one way, half the 30-day median bid-ask spread, lowest first, among buffer ETFs (ETFIQ, Oct 22, 2026)](https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data.