{"url":"https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade","section":"rankings","title":"Cheapest Buffer ETFs to Trade: Bid-Ask Spreads | ETFIQ","description":"BALT leads cheapest buffer ETFs to trade at 0.015% (cost to trade), as of Oct 22, 2026. 100 funds from ETFIQ\u2019s own published figures.","as_of":"Oct 22, 2026","structured_data":[{"@type":"ItemList","name":"Cheapest buffer ETFs to 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buffer ETFs to trade","description":"BALT leads cheapest buffer ETFs to trade at 0.015% (cost to trade), as of Oct 22, 2026. 100 funds from ETFIQ\u2019s own published figures.","url":"https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"license":"https://etfiq.com/license/","isAccessibleForFree":true,"creditText":"ETFIQ (etfiq.com)","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/trading-score.json"}]},{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"What does an ETF\u2019s bid-ask spread cost?","acceptedAnswer":{"@type":"Answer","text":"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."}},{"@type":"Question","name":"Which ETF tops this list as of Oct 22, 2026?","acceptedAnswer":{"@type":"Answer","text":"BALT, at 0.015% one way, $1.50 on $10,000, from a 30-day median spread of 0.03% to Oct 22, 2026."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Rankings","item":"https://etfiq.com/rankings/"},{"@type":"ListItem","position":3,"name":"Cheapest buffer ETFs to trade","item":"https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade"}]},{"@type":"WebPage","name":"Cheapest Buffer ETFs to Trade: Bid-Ask Spreads","description":"BALT leads cheapest buffer ETFs to trade at 0.015% (cost to trade), as of Oct 22, 2026. 100 funds from ETFIQ\u2019s own published figures.","url":"https://etfiq.com/rankings/trading-cheapest-buffer-etfs-to-trade","dateModified":"2026-10-22","isPartOf":{"@type":"WebSite","name":"ETFIQ","url":"https://etfiq.com"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".lede",".faq"]},"publisher":{"@id":"https://etfiq.com/#org"}}],"characters":15525,"truncated":false,"content":"ETFIQ / Rankings / Cheapest buffer ETFs to trade \n \n As of Oct 22, 2026 . Rebuilt every trading night.\n Cheapest buffer ETFs to trade\n As of Oct 22, 2026, BALT\u2019s 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.\n 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\u2019s median spread over the 30 days to Oct 22, 2026. Source: ETFIQ. # Ticker Fund Score Tier Cost to trade At $10,000 Full cost to own \u00b7 1 yr Fee Flags Net assets \n 1 BALT Innovator Defined Wealth Shield ETF - Quarterly Not scored No tier 0.015% $1.50 Not measured 0.69% None $3.2bn \n 2 PDEC Innovator U.S. Equity Power Buffer ETF - Dec Not scored No tier 0.020% $2.00 Not measured 0.79% None $985m \n 3 BDEC Innovator U.S. Equity Buffer ETF - Dec Not scored No tier 0.025% $2.50 Not measured 0.79% None $214m \n 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 \n 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 \n 6 ZOCT Innovator Equity Defined Protection ETF - 1 Yr October Not scored No tier 0.035% $3.50 Not measured 0.79% None $215m \n 7 JANT AllianzIM U.S. Equity Buffer10 ETF - Jan Not scored No tier 0.035% $3.50 Not measured 0.74% None $56m \n 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 \n 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 \n 10 JANW AllianzIM U.S. Equity Buffer20 ETF - Jan Not scored No tier 0.040% $4.00 Not measured 0.74% None $356m \n 11 APRW AllianzIM U.S. Equity Buffer20 ETF - Apr Not scored No tier 0.040% $4.00 Not measured 0.74% One dealer $203m \n 12 UFEB Innovator U.S. Equity Ultra Buffer ETF - Feb Not scored No tier 0.040% $4.00 Not measured 0.79% None $170m \n 13 SIXJ AllianzIM U.S. Equity Buffer10 ETF - Jan Not scored No tier 0.040% $4.00 Not measured 0.74% None $149m \n 14 SIXO AllianzIM U.S. Equity Buffer10 ETF - Apr Not scored No tier 0.040% $4.00 Not measured 0.74% One dealer $119m \n 15 JULT AllianzIM U.S. Equity Buffer10 ETF - Jul Not scored No tier 0.040% $4.00 Not measured 0.74% None $58m \n 16 APRT AllianzIM U.S. Equity Buffer10 ETF - Apr Not scored No tier 0.040% $4.00 Not measured 0.74% One dealer $47m \n 17 ZALT Innovator U.S. Equity 10 Buffer ETF - Quarterly Not scored No tier 0.045% $4.50 Not measured 0.69% None $827m \n 18 OCTW AllianzIM U.S. Equity Buffer20 ETF - Oct Not scored No tier 0.045% $4.50 Not measured 0.74% None $343m \n 19 UDEC Innovator U.S. Equity Ultra Buffer ETF - Dec Not scored No tier 0.045% $4.50 Not measured 0.79% None $238m \n 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 \n 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 \n 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 \n 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 \n 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 \n 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 \n 26 BJAN Innovator U.S. Equity Buffer ETF - Jan Not scored No tier 0.050% $5.00 Not measured 0.79% None $346m \n 27 JULW AllianzIM U.S. Equity Buffer20 ETF - Jul Not scored No tier 0.050% $5.00 Not measured 0.74% None $255m \n 28 DDFD Innovator Equity Dual Directional 15 Buffer ETF - Dec Not scored No tier 0.050% $5.00 Not measured 0.79% None $96m \n 29 OCTT AllianzIM U.S. Equity Buffer10 ETF - Oct Not scored No tier 0.050% $5.00 Not measured 0.74% None $59m \n 30 BOCT Innovator U.S. Equity Buffer ETF - Oct Not scored No tier 0.055% $5.50 Not measured 0.79% None $360m \n 31 ZDEK Innovator Equity Defined Protection ETF - 1 Yr December Not scored No tier 0.055% $5.50 Not measured 0.79% None $108m \n 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 \n 33 PMAY Innovator U.S. Equity Power Buffer ETF - May Not scored No tier 0.060% $6.00 Not measured 0.79% None $786m \n 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 \n 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 \n 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 \n 37 BJUL Innovator U.S. Equity Buffer ETF - Jul Not scored No tier 0.060% $6.00 Not measured 0.79% None $360m \n 38 NJAN Innovator Growth-100 Power Buffer ETF - Jan Not scored No tier 0.060% $6.00 Not measured 0.79% None $335m \n 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 \n 40 SEPW AllianzIM U.S. Equity Buffer20 ETF - Sep Not scored No tier 0.060% $6.00 Not measured 0.74% None $134m \n 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 \n 42 QCOC FT Vest Nasdaq-100 Conservative Buffer ETF - October Not scored No tier 0.060% $6.00 Not measured 0.90% None $68m \n 43 QMFE FT Vest Nasdaq-100 Moderate Buffer ETF - February Not scored No tier 0.060% $6.00 Not measured 0.90% None $43m \n 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 \n 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 \n 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 \n 47 BFEB Innovator U.S. Equity Buffer ETF - Feb Not scored No tier 0.065% $6.50 Not measured 0.79% None $206m \n 48 DDFO Innovator Equity Dual Directional 15 Buffer ETF - Oct Not scored No tier 0.065% $6.50 Not measured 0.79% None $157m \n 49 QCJA FT Vest Nasdaq-100 Conservative Buffer ETF - January Not scored No tier 0.065% $6.50 Not measured 0.90% None $77m \n 50 NDEC Innovator Growth-100 Power Buffer ETF - Dec Not scored No tier 0.065% $6.50 Not measured 0.79% None $60m \n 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 \n 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 \n 53 PFEB Innovator U.S. Equity Power Buffer ETF - Feb Not scored No tier 0.070% $7.00 Not measured 0.79% None $890m \n 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 \n 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 \n 56 BAUG Innovator U.S. Equity Buffer ETF - Aug Not scored No tier 0.070% $7.00 Not measured 0.79% None $271m \n 57 ZSEP Innovator Equity Defined Protection ETF - 1 Yr September Not scored No tier 0.070% $7.00 Not measured 0.79% None $243m \n 58 BMAY Innovator U.S. Equity Buffer ETF - May Not scored No tier 0.070% $7.00 Not measured 0.79% One dealer $181m \n 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 \n 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 \n 61 ZJAN Innovator Equity Defined Protection ETF - 1 Yr January Not scored No tier 0.070% $7.00 Not measured 0.79% None $106m \n 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 \n 63 TJAN Innovator Equity Defined Protection ETF - Jan 2027 Not scored No tier 0.070% $7.00 Not measured 0.79% None $32m \n 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 \n 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 \n 66 UJAN Innovator U.S. Equity Ultra Buffer ETF - Jan Not scored No tier 0.075% $7.50 Not measured 0.79% None $250m \n 67 UJUN Innovator U.S. Equity Ultra Buffer ETF - Jun Not scored No tier 0.075% $7.50 Not measured 0.79% None $184m \n 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 \n 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 \n 70 QMNV FT Vest Nasdaq-100 Moderate Buffer ETF - November Not scored No tier 0.075% $7.50 Not measured 0.90% None $45m \n 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 \n 72 TAPR Innovator Equity Defined Protection ETF - Apr 2027 Not scored No tier 0.075% $7.50 Not measured 0.79% None $11m \n 73 PAPR Innovator U.S. Equity Power Buffer ETF - Apr Not scored No tier 0.080% $8.00 Not measured 0.79% None $962m \n 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 \n 75 QDEC FT Vest Nasdaq-100 Buffer ETF - December Not scored No tier 0.080% $8.00 Not measured 0.90% One dealer $699m \n 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 \n 77 BAPR Innovator U.S. Equity Buffer ETF - Apr Not scored No tier 0.080% $8.00 Not measured 0.79% None $415m \n 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 \n 79 NOCT Innovator Growth-100 Power Buffer ETF - Oct Not scored No tier 0.080% $8.00 Not measured 0.79% None $314m \n 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 \n 81 DECW AllianzIM U.S. Equity Buffer20 ETF - Dec Not scored No tier 0.080% $8.00 Not measured 0.74% None $229m \n 82 QBUF Innovator Nasdaq-100 10 Buffer ETF - Quarterly Not scored No tier 0.080% $8.00 Not measured 0.79% None $199m \n 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 \n 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 \n 85 MARW AllianzIM U.S. Equity Buffer20 ETF - Mar Not scored No tier 0.080% $8.00 Not measured 0.74% None $86m \n 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 \n 87 EBUF Innovator Emerging Markets 10 Buffer ETF - Quarterly Not scored No tier 0.080% $8.00 Not measured 0.89% None $45m \n 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 \n 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 \n 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 \n 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 \n 92 UOCT Innovator U.S. Equity Ultra Buffer ETF - Oct Not scored No tier 0.085% $8.50 Not measured 0.79% None $259m \n 93 BMAR Innovator U.S. Equity Buffer ETF - Mar Not scored No tier 0.085% $8.50 Not measured 0.79% None $202m \n 94 DECT AllianzIM U.S. Equity Buffer10 ETF - Dec Not scored No tier 0.085% $8.50 Not measured 0.74% None $125m \n 95 ZMAR Innovator Equity Defined Protection ETF - 1 Yr March Not scored No tier 0.085% $8.50 Not measured 0.79% None $111m \n 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 \n 97 DECU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Dec Not scored No tier 0.085% $8.50 Not measured 0.74% None $52m \n 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 \n 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 \n 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 \n \n Method\n 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 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.\n Questions people ask\n What does an ETF\u2019s 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. Where to next\n ETF trading costs and liquidity How the IQ Liquidity Score is built Most liquid ETFs Most liquid small ETFs Low-volume ETFs with deep liquidity ETFs whose full cost to own is far above the fee Widest ETF premiums and discounts, last 30 days ETFs with the most days more than 1% from NAV ETFs with one active authorized participant ETFs with the most authorized participants The trading score file Where these figures came from\n 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.\n A ranking is not a recommendation or an opinion. ETFIQ is an independent publisher, not an adviser. Standards and sources \n Cite this page. 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 Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms. The underlying files are at Open data .\n Other forms Plain 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 APA 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 Markdown [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)","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"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"}