Buffer ETFs (Defined Outcome)
Funds that use options to limit losses over a set outcome period in exchange for a cap on gains.
ETFs matching the screen
Data as of the October 29, 2026 close| VTIPVanguard Short-Term Inflation-Protected Securities ETF | Vanguard Short-Term Inflation-Protected Securities ETF | 48.88 | +0.04% | +1.30% | +0.30% | +2.20% | +2.60% | +5.20% | +3.10% | +3.10% |
| BUFRFT Vest Laddered Buffer ETF | FT Vest Laddered Buffer ETF | 37.82 | −0.13% | +0.80% | +4.30% | +10.4% | +11.8% | +16.8% | +9.80% | — |
| DBEFXtrackers MSCI EAFE Hedged Equity ETF | Xtrackers MSCI EAFE Hedged Equity ETF | 55.33 | +0.56% | +0.40% | +1.60% | +15.0% | +18.1% | +21.2% | +13.2% | +12.0% |
| DXJWisdomTree Japan Hedged Equity Fund | WisdomTree Japan Hedged Equity Fund | 59.59 | +0.22% | +0.30% | +3.10% | +24.9% | +34.7% | +31.3% | +26.9% | +17.9% |
| HELOJpmorgan Hedged Equity Laddered Overlay ETF | Jpmorgan Hedged Equity Laddered Overlay ETF | 69.72 | −0.07% | +0.80% | +4.10% | +5.40% | +6.60% | +13.4% | — | — |
| SFLRInnovator Equity Managed Floor ETF | Innovator Equity Managed Floor ETF | 39.46 | −0.60% | +1.00% | +4.40% | +7.30% | +7.70% | +17.2% | — | — |
| BUFDFT Cboe Vest Fund of Deep Buffer ETFs | FT Cboe Vest Fund of Deep Buffer ETFs | 30.62 | −0.07% | +0.70% | +3.50% | +8.40% | +9.70% | +13.9% | +7.70% | — |
| HEDJWisdomTree Europe Hedged Equity Fund | WisdomTree Europe Hedged Equity Fund | 55.85 | +0.36% | −0.40% | −0.30% | +7.20% | +9.10% | +16.9% | +10.2% | +10.2% |
| BUFQFT Cboe Vest Fund of Nasdaq-100 Buffer ETFs | FT Cboe Vest Fund of Nasdaq-100 Buffer ETFs | 40.05 | −1.04% | −1.00% | +6.20% | +11.7% | +12.8% | +17.4% | — | — |
| FJANFT Cboe Vest U.S. Equity Buffer ETF - January | FT Cboe Vest U.S. Equity Buffer ETF - January | 57.07 | −0.04% | +0.80% | +4.30% | +10.3% | +12.4% | +17.4% | +11.1% | — |
| FMAYFT Cboe Vest U.S. Equity Buffer ETF - May | FT Cboe Vest U.S. Equity Buffer ETF - May | 57.78 | −0.18% | +0.60% | +4.20% | +8.10% | +9.50% | +15.8% | +8.90% | — |
| FAUGFT Cboe Vest U.S. Equity Buffer ETF - August | FT Cboe Vest U.S. Equity Buffer ETF - August | 58.06 | −0.17% | +0.60% | +3.00% | +9.60% | +10.3% | +16.8% | +8.90% | — |
| FJUNFT Cboe Vest U.S. Equity Buffer ETF - June | FT Cboe Vest U.S. Equity Buffer ETF - June | 61.59 | −0.12% | +0.60% | +4.10% | +7.90% | +9.10% | +16.0% | +10.5% | — |
| FSEPFT Cboe Vest U.S. Equity Buffer ETF - September | FT Cboe Vest U.S. Equity Buffer ETF - September | 57.58 | −0.16% | +0.70% | +5.10% | +11.7% | +12.3% | +16.8% | +10.2% | — |
| PJANInnovator S&P 500 Power Buffer - January | Innovator S&P 500 Power Buffer - January | 51.20 | +0.05% | +0.90% | +3.80% | +8.90% | +10.8% | +14.9% | +9.10% | — |
| FJULFT Cboe Vest U.S. Equity Buffer ETF - July | FT Cboe Vest U.S. Equity Buffer ETF - July | 61.72 | −0.05% | +0.70% | +4.30% | +10.4% | +11.5% | +18.2% | +11.4% | — |
| FFEBFT Cboe Vest U.S. Equity Buffer ETF - February | FT Cboe Vest U.S. Equity Buffer ETF - February | 63.09 | −0.06% | +0.80% | +4.10% | +11.4% | +13.1% | +18.7% | +10.8% | — |
| FAPRFT Cboe Vest U.S. Equity Buffer ETF - April | FT Cboe Vest U.S. Equity Buffer ETF - April | 48.17 | −0.06% | +0.70% | +4.20% | +8.40% | +10.1% | +15.4% | +8.50% | — |
| FDECFT Cboe Vest U.S. Equity Buffer ETF - December | FT Cboe Vest U.S. Equity Buffer ETF - December | 56.48 | −0.05% | +0.90% | +4.50% | +10.3% | +13.1% | +18.6% | +10.6% | — |
| PJULInnovator S&P 500 Power Buffer ETF — July | Innovator S&P 500 Power Buffer ETF — July | 50.03 | −0.10% | +0.60% | +3.50% | +7.80% | +8.90% | +14.9% | +10.4% | — |
| FOCTFT Cboe Vest U.S. Equity Buffer ETF - October | FT Cboe Vest U.S. Equity Buffer ETF - October | 54.99 | −0.18% | +1.70% | +6.00% | +12.2% | +12.8% | +15.9% | +9.40% | — |
| FNOVFT Cboe Vest U.S. Equity Buffer ETF - November | FT Cboe Vest U.S. Equity Buffer ETF - November | 60.87 | −0.02% | +1.20% | +4.80% | +11.0% | +13.4% | +17.6% | +9.60% | — |
| PSEPInnovator S&P 500 Power Buffer ETF - September | Innovator S&P 500 Power Buffer ETF - September | 47.18 | −0.15% | +0.60% | +2.40% | +7.90% | +8.90% | +14.1% | +9.50% | — |
| FMARFT Cboe Vest U.S. Equity Buffer ETF - March | FT Cboe Vest U.S. Equity Buffer ETF - March | 53.98 | +0.04% | +0.70% | +3.60% | +13.7% | +15.5% | +16.4% | +10.5% | — |
| DFIPDimensional Inflation-Protected Securities ETF | Dimensional Inflation-Protected Securities ETF | 39.90 | +0.21% | +2.40% | −0.70% | −0.10% | −0.40% | +4.80% | — | — |
| POCTInnovator S&P 500 Power Buffer October | Innovator S&P 500 Power Buffer October | 48.27 | −0.12% | +1.00% | +4.40% | +9.90% | +10.7% | +13.2% | +9.90% | — |
| BUFFInnovator Laddered Allocation Power Buffer ETF | Innovator Laddered Allocation Power Buffer ETF | 54.34 | −0.06% | +0.80% | +3.60% | +9.00% | +10.1% | +14.1% | +8.80% | +8.80% |
| BUFCAB Conservative Buffer ETF | AB Conservative Buffer ETF | 43.49 | −0.26% | +0.20% | +2.70% | +5.20% | +6.40% | — | — | — |
| BUFZFT Cboe Vest Laddered Moderate Buffer ETF | FT Cboe Vest Laddered Moderate Buffer ETF | 28.75 | −0.03% | +0.80% | +3.40% | +8.40% | +9.90% | +13.6% | — | — |
| PAUGInnovator U.S. Equity Power Buffer ETF - August | Innovator U.S. Equity Power Buffer ETF - August | 46.99 | −0.09% | +0.60% | +2.30% | +8.60% | +9.60% | +15.7% | +9.40% | — |
| FHEQFidelity Hedged Equity ETF | Fidelity Hedged Equity ETF | 33.48 | −0.39% | −0.40% | +2.20% | +8.90% | +7.60% | — | — | — |
| PDECInnovator S&P 500 Power Buffer ETF - December | Innovator S&P 500 Power Buffer ETF - December | 47.60 | −0.04% | +1.00% | +4.30% | +9.70% | +11.7% | +14.9% | +9.00% | — |
| PAPRInnovator S&P 500 Power Buffer ETF - April New | Innovator S&P 500 Power Buffer ETF - April New | 43.45 | +0.10% | +0.70% | +3.10% | +11.1% | +12.5% | +13.2% | +8.40% | — |
| PFEBInnovator S&P 500 Power Buffer ETF - February | Innovator S&P 500 Power Buffer ETF - February | 44.43 | −0.10% | +0.80% | +3.70% | +9.10% | +10.9% | +14.4% | +8.90% | — |
| PJUNInnovator S&P 500 Power Buffer ETF - New | Innovator S&P 500 Power Buffer ETF - New | 44.29 | −0.14% | +0.60% | +3.50% | +5.80% | +7.00% | +13.0% | +6.80% | — |
| ZALTInnovator U.S. Equity 10 Buffer ETF - Quarterly | Innovator U.S. Equity 10 Buffer ETF - Quarterly | 34.77 | −0.07% | +0.60% | +3.10% | +6.80% | +7.90% | +11.1% | — | — |
| PNOVInnovator S&P 500 Power Buffer ETF - November | Innovator S&P 500 Power Buffer ETF - November | 46.37 | −0.04% | +1.60% | +5.30% | +11.0% | +12.0% | +13.6% | +8.70% | — |
| DBEUXtrackers MSCI Europe Hedged Equity ETF | Xtrackers MSCI Europe Hedged Equity ETF | 54.51 | +0.94% | +1.00% | +1.50% | +13.6% | +16.8% | +19.2% | +11.3% | +11.1% |
| PMAYInnovator S&P 500 Power Buffer ETF - May | Innovator S&P 500 Power Buffer ETF - May | 42.59 | +0.02% | +0.80% | +3.70% | +7.60% | +8.90% | +13.9% | +7.10% | — |
| PMARInnovator S&P 500 Power Buffer ETF - March | Innovator S&P 500 Power Buffer ETF - March | 49.23 | −0.01% | +0.60% | +3.40% | +9.50% | +11.2% | +14.5% | +9.50% | — |
| HEGDSwan Hedged Equity US Large Cap ETF | Swan Hedged Equity US Large Cap ETF | 26.96 | −0.42% | +0.30% | +2.80% | +6.90% | +5.90% | +15.4% | +7.60% | — |
| QJUNFT Cboe Vest Growth-100 Buffer ETF - June | FT Cboe Vest Growth-100 Buffer ETF - June | 33.52 | −0.81% | −1.90% | +6.20% | +5.30% | +6.10% | +16.1% | +9.70% | — |
| QSPTFT Cboe Vest Nasdaq-100 Buffer ETF - September | FT Cboe Vest Nasdaq-100 Buffer ETF - September | 35.89 | −0.88% | −1.50% | +6.40% | +13.3% | +12.5% | +19.3% | +11.7% | — |
| DBJPXtrackers MSCI Japan Hedged Equity ETF | Xtrackers MSCI Japan Hedged Equity ETF | 113.98 | −0.15% | −1.20% | +3.00% | +21.9% | +26.7% | +28.6% | +21.0% | +16.0% |
| QDECTraded Fund VIII - FT Cboe Vest Growth-100 Buffer ETF - December | Traded Fund VIII - FT Cboe Vest Growth-100 Buffer ETF - December | 36.65 | −0.58% | −0.40% | +6.50% | +12.7% | +15.3% | +17.7% | +9.90% | — |
| QMARFT Cboe Vest Growth-100 Buffer ETF - March | FT Cboe Vest Growth-100 Buffer ETF - March | 38.32 | −0.29% | −0.20% | +5.70% | +16.1% | +17.7% | +17.4% | +11.3% | — |
| SCIOFirst Trust Structured Credit Income Opportunities ETF | First Trust Structured Credit Income Opportunities ETF | 20.11 | +0.10% | +1.40% | −0.60% | +1.30% | +3.00% | — | — | — |
| GJUNFT Cboe Vest U.S. Equity Moderate Buffer ETF - June | FT Cboe Vest U.S. Equity Moderate Buffer ETF - June | 42.24 | −0.16% | +0.60% | +3.50% | +6.70% | +7.90% | +13.4% | — | — |
| BUFMAB Moderate Buffer ETF | AB Moderate Buffer ETF | 41.08 | −0.04% | +0.60% | +2.30% | +5.10% | +6.20% | — | — | — |
| DJULFT Cboe Vest U.S. Equity Deep Buffer ETF - July | FT Cboe Vest U.S. Equity Deep Buffer ETF - July | 51.56 | −0.10% | +0.60% | +3.30% | +8.40% | +9.30% | +15.7% | +9.10% | — |
End-of-day prices and fund data from EODHD. Returns are total returns with distributions reinvested; 3-, 5- and 10-year returns are annualized. Assets, expense ratios and holdings come from the issuers' latest reports (refreshed monthly). For information only, not investment advice.
Screening criteria
- Strategy: buffer and defined outcome
US-listed ETFs and ETNs; funds that have not traded for more than a week are excluded. Change or add filters above to refine the list; the full ETF screener has more than 50 filters.
About this screen
Buffer ETFs, also called defined-outcome funds, hold options on an index such as the S&P 500 or Nasdaq-100. Over an outcome period, usually a year, they aim to absorb the first part of any loss, for example the first 10% or 15%, while capping gains at a stated level. Investors use them to stay invested in stocks with a known range of outcomes.
The buffer and cap apply only to investors who buy on the reset date and hold for the whole period; buying later gives a different range. Issuers publish the remaining buffer and cap daily on their websites. Most funds launch in monthly series, so many similar funds appear here. Compare expense ratios on the Fund tab, since these funds usually cost more than index funds.
Buffer ETFs (Defined Outcome) FAQ
How many buffer ETFs are there?
As of the October 29, 2026 close, 485 buffer and defined-outcome ETFs were listed in the US. The largest by assets are Vanguard Short-Term Inflation-Protected Securities ETF (VTIP), FT Vest Laddered Buffer ETF (BUFR) and Xtrackers MSCI EAFE Hedged Equity ETF (DBEF).
How does a buffer ETF work?
The fund buys and sells options on an index at the start of each outcome period. The option positions absorb losses up to the buffer level and limit gains to the cap. Dividends on the index are generally not passed through, so returns trail the index total return in strong markets.
What happens at the reset date of a buffer ETF?
At the end of the outcome period, the fund rolls into new options with a fresh buffer and a new cap based on market conditions at that time. You can keep holding the fund; it does not mature, but the cap for the next period is not known in advance.
Other ETF screens
Index & core ETFs
- Largest ETFs by Assets
- Low-Cost ETFs
- New ETFs
- Best Performing ETFs
- Best S&P 500 ETFs
- Best Nasdaq-100 ETFs
- Low-Volatility ETFs
Sector & theme ETFs
- Bitcoin & Crypto ETFs
- Best Semiconductor ETFs
- Best REIT ETFs
- Best Technology ETFs
- Best Healthcare ETFs
- Best Energy ETFs
Dividend & income ETFs
- High Dividend ETFs
- Monthly Dividend ETFs
- Dividend Growth ETFs
- Covered Call & Option Income ETFs
- Best Dividend ETFs