IBUF vs RSSE

IBUFBInnovator International Developed 10 Buffer ETF

RSSECFT Vest U.S. Equity Equal Weight Buffer ETF - September

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.

RSSE Most buffer ETFs bolt their downside cushion onto the megacap-heavy S&P 500. This one uses the equal-weight version instead, buffering the first 10% of losses over a one-year outcome period that resets every September.

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.

RSSE The Fund seeks returns matching the price return of the Invesco S&P 500 Equal Weight ETF, up to a predetermined cap, while buffering the first 10% of losses during the current 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.

• RSSE Buffers the first 10% of losses on the price return of the equal-weight S&P 500 ETF, so the cushion sits on a broadly spread index rather than a handful of megacaps.
• Fee of 0.85% a year, slightly under the middle of the buffer-ETF pack, and equal-weight defined-outcome funds are a small corner of that market.
• One rung of a ladder: sibling fund RSJN runs the same equal-weight buffer strategy from a June start at the same 0.85% fee, so entry months can be staggered.

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.

• RSSE Upside is capped. The cap is reset each September for the new outcome period, so gains beyond it in the reference index do not pass through.
• Small asset base and light trading, so spreads can run wider than in the largest buffer funds. Buying mid-period also changes the buffer and cap actually in play.
• Launched in 2024, so the track record is short, and the options structure is built to shape returns rather than pay income.

Full IBUF profile⁠

Full RSSE profile⁠