BUFI vs INOV: Grades, Fees and Holdings Compared

AB International Buffer ETF

BUFIBNasdaq

Innovator Intl Developed Power Buffer ETF

INOVCNYSE Arca

Overlap

0.0%by weight

Expense ratio

BUFI −0.16pt a year

BUFI0.69%INOV0.85%

Avg volume · 30D

BUFI 1.9×the volume

BUFI11.8KINOV6.36K

BUFI vs INOV Performance

Oct 31, 2025 – Nov 2, 2026

+6.6%BUFI+8.9%INOV

Expense ratio: BUFI 0.69%, better; INOV 0.85%
Fund size: BUFI $137M; INOV $36M
1Y total return: BUFI +6.6%; INOV +8.9%, better
Holdings: BUFI 4; INOV 4
Avg volume (30D): BUFI 11.8K sh, better; INOV 6.36K sh
NAV per share: BUFI $41.81; INOV $36.56
52W range

ETF.net Grade

Pillar letters and Scores for BUFI, INOV, with each pillar’s weight
Pillar	BUFI	INOV
Cost30% weight	A84Higher	D38
Mission25% weight	Not scored	A70
Risk15% weight	C42	C49Higher
Tradability15% weight	C54	A71Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	C54Higher	C51

Rank among Developed International Buffer 15% funds

How we build Categories ›

Same Category. BUFI and INOV are both graded against the same 26 Developed International Buffer 15% funds, so their Grades compare head to head.

Developed International Buffer 15%⁠

Category · 26 funds

See all 26 ›

BUFI ranks 1st and INOV 12th of 26 funds in the Developed International Buffer 15% Category.

Rank 1BBUFIAB International Buffer ETFScore 65
Rank 2BQBIFAllianzIM International Equity Buffer15 ETFScore 63
Rank 10CIJANInnovator International Developed Power Buffer ETF - JanuaryScore 52
Rank 12CINOVInnovator Intl Developed Power Buffer ETFScore 49
Rank 13CIFEBInnovator Intl Developed Power Buffer ETFScore 46

Our read on each fund

ETF.net Research

BUFIBAB International Buffer ETF

INOVCInnovator Intl Developed Power Buffer ETF

In short

BUFI No data

INOV Most buffer ETFs hedge the S&P 500. This one hedges the rest of the developed world: it targets the return of the iShares MSCI EAFE ETF with the first 15% of losses absorbed, in exchange for a cap reset every November.

Stated mandate

BUFI No data

INOV The Fund seeks to match the return of the iShares MSCI EAFE ETF, subject to a predetermined upside cap, while protecting the first 15% of losses during the outcome period.

Why people hold it

BUFI No data

INOV Rare bird in the buffer aisle: the reference asset is the iShares MSCI EAFE ETF, so the defined-outcome machinery is pointed at Europe, Japan and Australia rather than US large caps.innovatoretfs.com
The 15% downside buffer is written into the fund's own terms, not a manager's judgment call. Same rule every outcome period, whatever the market mood.
November is this fund's slot in a 12-month ladder (IJAN through IDEC all run the same EAFE playbook), so entry dates can be staggered instead of hinging on one reset.
At 0.85% a year, the fee lands right at the median for its buffered peer group. No surcharge for the international plumbing.

Worth knowing

BUFI No data

INOV Upside is capped, and the cap is reset each November 1 for the following 12 months. Buying mid-period means taking whatever cap and remaining buffer exist that day, not the headline terms.
Past the first 15%, losses pass straight through. The buffer is a cushion measured over the full outcome period, not a floor you can count on day to day.
Small and thinly traded next to its siblings, so spreads and limit orders matter. Income isn't part of the design either; this structure has not been paying distributions.

Full BUFI profile⁠

Full INOV profile⁠

BUFI vs INOV Holdings

How BUFI and INOV differ

Overlap by weight

0.0%

Shared holdings make up 0.0% of BUFI and 0.0% of INOV.

Level by level

Asset classAlternatives, Equity0.0%
Holdings0 in both0.0%
Countryby domicile100%
Sector11 Sectors100%

Sector

Sector weights in BUFI and INOV, widest gap first
Sector	More in BUFIMore in INOV	BUFI	INOV
Financials	Same weight	26.1%	26.1%
Industrials	Same weight	18.7%	18.7%
Technology	Same weight	12.0%	12.0%
Health Care	Same weight	10.1%	10.1%
Consumer Discretionary	Same weight	7.1%	7.1%
Consumer Staples	Same weight	6.4%	6.4%
Materials	Same weight	5.8%	5.8%
Communication	Same weight	4.7%	4.7%
Energy	Same weight	4.0%	4.0%
Utilities	Same weight	3.6%	3.6%
Real Estate	Same weight	1.5%	1.5%

Country, concentration and asset class

Country by domicile

Country weights in BUFI and INOV, widest gap first
Country	More in BUFIMore in INOV	BUFI	INOV
Japan	Same weight	24.3%	24.3%
United Kingdom	Same weight	14.1%	14.1%
Switzerland	Same weight	10.2%	10.2%
Germany	Same weight	8.8%	8.8%
France	Same weight	8.3%	8.3%
Australia	Same weight	6.7%	6.7%
Netherlands	Same weight	6.0%	6.0%
Spain	Same weight	3.7%	3.7%
Other countries (17)	Same weight	18.0%	18.0%

Outside the US: BUFI 99% developed, 1% emerging. INOV 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

BUFI102.2%
INOV103.6%

Securities held

BUFI3
INOV3

Asset class

BUFI: Alternatives
INOV: Equity

Holdings

Only in BUFI3
In both0
Only in INOV3

Only in BUFI

3 securities, 100% of BUFI by weight

4EFA 01/29/27 C0.52 4EFA 01/29/27 C0.5298.90%
4EFA 01/29/27 P102.89 4EFA 01/29/27 P102.892.97%
Alliancebernstein Govt Stif Ssc Fund 64BA Agis 5870.36%

Only in INOV

3 securities, 100% of INOV by weight

Efa 10/29/2027 1.03 C97.83%
Efa 10/29/2027 103.37 P5.51%
Us Bank Mmda - Usbgfs 9 09/01/20370.20%

Weight gaps

BUFI and INOV share no securities.

All BUFI holdings⁠All 6 INOV holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

BUFI vs INOV Cost

Overpaying INOV vs BUFI

$2,770

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

BUFI 0.69%
$13,429
INOV 0.85%
$16,199

Amount$10,000

Years30 years

Cost over time

BUFI 0.69%
INOV 0.85%
Overpaying

Year by year

Year	BUFI	INOV	Overpaying
10	$1,232	$1,508	$276
20	$4,697	$5,706	$1,009
30	$13,429	$16,199	$2,770

Expense ratio

0.69%BUFI, cheaper
0.85%INOV

BUFI0.69%INOV0.85%

0.30%0.90%

Middle half of Developed International Buffer 15% funds
Median 0.85%

BUFI 5th cheapest of 26 funds

INOV 11th cheapest of 26 funds

BUFI vs INOV Dividends

Last 12 months to Nov 2, 2026

Payout (12M): BUFI None; INOV None

Distribution history

BUFIAll BUFI payments⁠

No distribution history available.

INOVAll INOV payments⁠

No distribution history available.

BUFI vs INOV Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: BUFI 5.7%since Jan 2025INOV 6.4%since Dec 2023
Return per unit of riskSharpe ratio, 3 years: BUFI 1.21since Jan 2025INOV 1.17since Dec 2023
Worst fallMax drawdown, 5 years: BUFI −7.4%since Dec 2024INOV −8.0%since Nov 2023
Market sensitivityBeta, 5 years: BUFI 0.24INOV 0.31; Market = 1

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