IBUF vs RSMR

IBUFBInnovator International Developed 10 Buffer ETF

RSMRCFT Vest U.S. Equity Equal Weight Buffer ETF - March

In short

IBUF Most buffer ETFs aim at the S&P 500. IBUF looks overseas, using the iShares MSCI EAFE ETF as its reference and buffering the first 10% of losses over each quarterly outcome period, with upside capped in return.

RSMR Most buffer ETFs wrap their cushion around the cap-weighted S&P 500. This one wraps it around the equal-weight version, where the smallest name counts about as much as the biggest, and resets every March.

Stated mandate

IBUF The Fund uses a quarterly defined-outcome strategy based on the iShares MSCI EAFE ETF. It seeks to provide gains up to a cap while buffering the first 10% of reference-asset losses for investors holding through the full outcome period.

RSMR The Fund seeks to match the price return of the Invesco S&P 500® Equal Weight ETF Trust, before fees and expenses, up to a 17.80% cap while buffering the first 10% of losses during the stated outcome period.

Why people hold it

• IBUF Buffer funds crowd around US large caps. This one references the iShares MSCI EAFE ETF, so the 10% cushion sits on developed markets outside the US.
• The outcome period runs a quarter, not a year, so the buffer and the cap reset four times annually rather than once.
• At 0.85% a year, it comes in under the median fee among the buffer funds we track.
• Sits among the strongest implementations in its buffer-fund peer group on our review.

• RSMR The uncommon buffer build: outcomes are tied to the price of an equal-weight S&P 500 basket, so a handful of mega caps don't steer the result the way they do in cap-weighted buffer funds.
• Downside terms are written down in advance: the first 10% of a decline in the reference basket is absorbed across each one-year outcome period, with a fresh period starting each March.
• Charges 0.85%, the same as its June-dated sibling RSJN, and roughly in line with what defined-outcome funds typically cost.
• Plain-vanilla plumbing: a registered 1940 Act ETF with no structural flags, and it stands in the upper half of the buffer group on our review.

Worth knowing

• IBUF The price of the cushion is a ceiling. Gains above each quarter's cap are given up, and that cap is reset at the start of every outcome period.
• The 10% buffer is designed for investors who hold a full outcome period. Buy mid-quarter and your actual cushion and cap differ from the stated terms.
• Launched in July 2024 and lightly traded, so the track record is short and spreads can run wider than on large index funds.

• RSMR Upside is capped each period, and both cap and buffer run from the March start date, so buying mid-period leaves you with different numbers than the headline terms.
• It targets price return only, so dividends from the underlying stocks aren't passed through to shareholders.
• Launched in 2025 and one of the smaller, less-traded names in the buffer group, which makes limit orders worth the extra click.

Full IBUF profile⁠

Full RSMR profile⁠