BUFI vs IOCT: Grades, Fees and Holdings Compared

AB International Buffer ETF

BUFIBNasdaq

Innovator Intl Developed Power Buffer ETF

IOCTBNYSE Arca

Overlap

0.0%by weight

Expense ratio

BUFI −0.16pt a year

BUFI0.69%IOCT0.85%

Avg volume · 30D

IOCT 1.9×the volume

BUFI11.8KIOCT22K

BUFI vs IOCT Performance

Oct 31, 2025 – Oct 30, 2026

+6.5%BUFI+10.1%IOCT

Expense ratio: BUFI 0.69%, better; IOCT 0.85%
Fund size: BUFI $138M; IOCT $200M
1Y total return: BUFI +6.5%; IOCT +10.1%, better
Holdings: BUFI 4; IOCT 3
Avg volume (30D): BUFI 11.8K sh; IOCT 22K sh, better
NAV per share: BUFI $41.81; IOCT $37.74
52W range

ETF.net Grade

Pillar letters and Scores for BUFI, IOCT, with each pillar’s weight
Pillar	BUFI	IOCT
Cost30% weight	A84Higher	D38
Mission25% weight	Not scored	A72
Risk15% weight	C42	B59Higher
Tradability15% weight	C54	A80Higher
Holdings10% weight	Not scored	Not scored
Durability5% weight	C54	A82Higher

Rank among Developed International Buffer 15% funds

How we build Categories ›

Same Category. BUFI and IOCT 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 IOCT 4th of 26 funds in the Developed International Buffer 15% Category.

Rank 1BBUFIAB International Buffer ETFScore 65
Rank 2BQBIFAllianzIM International Equity Buffer15 ETFScore 63
Rank 4BIJULInnovator Intl Developed Power Buffer ETFScore 55
Rank 4BIOCTInnovator Intl Developed Power Buffer ETFScore 55
Rank 4BJULIAllianzIM International Equity Buffer15 Uncapped Jul ETFScore 55

Our read on each fund

ETF.net Research

BUFIBAB International Buffer ETF

IOCTBInnovator Intl Developed Power Buffer ETF

In short

BUFI No data

IOCT Padding for the non-US sleeve. IOCT tracks the iShares MSCI EAFE ETF, absorbs the first 15% of losses over each 12-month outcome period, and gives up gains above a cap in exchange. The clock resets every October 1.

Stated mandate

BUFI No data

IOCT The fund seeks to track the return of the iShares MSCI EAFE ETF, subject to a cap, while protecting against the first 15% of losses during the outcome period.

Why people hold it

BUFI No data

IOCT The deal is written into the fund's own terms: the first 15 percentage points of the reference ETF's losses are absorbed over the outcome period, with upside capped at a level set at each reset.innovatoretfs.com
The reference asset is the iShares MSCI EAFE ETF, so the buffer sits on developed international stocks rather than the S&P 500 that most defined-outcome funds target.innovatoretfs.com
Part of a monthly series (IJUL, IMAY, IMAR, IAPR and more) running the same 15% structure on staggered start months, so entry points are not limited to one date a year.
Priced at 0.85%, the same as the median international buffer fund, and it grades in the upper half of a 17-fund peer group.

Worth knowing

BUFI No data

IOCT The 15% buffer and the cap are designed to work over a full outcome period. Buy partway through and you inherit whatever buffer and upside are left, not the headline terms.innovatoretfs.com
Volume is light compared with mainstream international funds, which can mean wider spreads on the way in and out.
This is an options package, not an income vehicle: it has not paid distributions over the past year, so any result shows up in the share price.

Full BUFI profile⁠

Full IOCT profile⁠

BUFI vs IOCT Holdings

How BUFI and IOCT differ

Overlap by weight

0.0%

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

Level by level

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

Sector

Sector weights in BUFI and IOCT, widest gap first
Sector	More in BUFIMore in IOCT	BUFI	IOCT
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 IOCT, widest gap first
Country	More in BUFIMore in IOCT	BUFI	IOCT
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. IOCT 99% developed, 1% emerging.

Concentration

Weight in the 10 largest Holdings

BUFI100.8%
IOCT102.5%

Securities held

BUFI3
IOCT3

Asset class

BUFI: Alternatives
IOCT: Equity

Holdings

Only in BUFI3
In both0
Only in IOCT3

Only in BUFI

3 securities, 100% of BUFI by weight

4EFA 10/30/26 C0.53 4EFA 10/30/26 C0.5399.50%
Alliancebernstein Govt Stif Ssc Fund 64BA Agis 5871.12%
4EFA 10/30/26 P103.47 4EFA 10/30/26 P103.470.20%

Only in IOCT

3 securities, 100% of IOCT by weight

Efa 09/30/2027 1.04 C97.06%
Efa 09/30/2027 103.89 P5.16%
Us Bank Mmda - Usbgfs 9 09/01/20370.26%

Weight gaps

BUFI and IOCT share no securities.

All BUFI holdings⁠All 6 IOCT 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 IOCT Cost

Overpaying IOCT vs BUFI

$2,770

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

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

Amount$10,000

Years30 years

Cost over time

BUFI 0.69%
IOCT 0.85%
Overpaying

Year by year

Year	BUFI	IOCT	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%IOCT

BUFI0.69%IOCT0.85%

0.30%0.90%

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

BUFI 5th cheapest of 26 funds

IOCT 11th cheapest of 26 funds

BUFI vs IOCT Dividends

Last 12 months to Oct 30, 2026

Payout (12M): BUFI None; IOCT None

Distribution history

BUFIAll BUFI payments⁠

No distribution history available.

IOCTAll IOCT payments⁠

No distribution history available.

BUFI vs IOCT 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 2025IOCT 6.7%
Return per unit of riskSharpe ratio, 3 years: BUFI 1.21since Jan 2025IOCT 1.29
Worst fallMax drawdown, 5 years: BUFI −7.4%since Dec 2024IOCT −16.9%
Market sensitivityBeta, 5 years: BUFI 0.24IOCT 0.35; Market = 1

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