ETF Insights - November 03, 2025

×

IOCT Detailed Analysis

334 Days Remaining

Until Outcome Period Reset

-0.12%

FUND RETURN

+1.20%

INDEX RETURN

-0.78%*

DOWNSIDE
BEFORE BUFFER

13.18%*

REMAINING
CAP

15%

Buffer Level

14.4%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, IOCT is at -0.1% with 334 days remaining. Trading at -0.1%, IOCT remains near its starting level with 11.0 months until reset. This early entry point still leaves most of the potential return available, while the full 15% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 13.18% remaining upside potential to cap (after fees), but the current -0.1% drawdown creates an enhanced opportunity. The index at 1.2% has recovered more than the fund, which is expected due to fee drag. From the current position, the total potential gain to cap is 13.30%, while only 0.1% of the 15% buffer has been consumed. This creates an asymmetric 110.9:1 reward-to-consumed-buffer ratio. With 11.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 14.41% cap yield, representing 4.0x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

IOCT has consumed 0.12% of its 15% buffer (fund at -0.12%). The downside before buffer is now -0.78%, meaning the buffer has been reached. You have 14.88% of buffer protection remaining before experiencing actual losses.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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POCT Detailed Analysis

334 Days Remaining

Until Outcome Period Reset

+0.87%

FUND RETURN

+2.38%

INDEX RETURN

-1.65%*

DOWNSIDE
BEFORE BUFFER

10.05%*

REMAINING
CAP

15%

Buffer Level

11.0%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, POCT is at +0.9% with 334 days remaining. Trading at +0.9%, POCT remains near its starting level with 11.0 months until reset. This early entry point still leaves most of the potential return available, while the full 15% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 10.05% remaining upside potential (after fees), having already captured 0.87% of the approximately 10.9% total cap. This creates a strong 6.1:1 reward-to-risk ratio, enhanced by the fact that the position is already profitable with protection intact.With 11.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 10.98% cap yield, representing 3.1x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

POCT currently shows a downside before buffer of -1.65% (after fees). With the fund at +0.87% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 16.65% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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BNOV Detailed Analysis

365 Days Remaining

Until Outcome Period Reset

+0.00%

FUND RETURN

+0.00%

INDEX RETURN

-0.79%*

DOWNSIDE
BEFORE BUFFER

16.81%*

REMAINING
CAP

9%

Buffer Level

16.8%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, BNOV is at +0.0% with 365 days remaining. Trading at +0.0%, BNOV remains near its starting level with 12.0 months until reset. This early entry point still leaves most of the potential return available, while the full 9% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 16.81% remaining upside potential to cap (after fees), but the current 0.0% drawdown creates an enhanced opportunity. With the index at 0.0%, the fund is tracking normally after fees. From the current position, the total potential gain to cap is 16.81%, while only 0.0% of the 9% buffer has been consumed. With 12.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 16.81% cap yield, representing 4.7x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

BNOV currently shows a downside before buffer of -0.79% (after fees). With the fund at +0.00% and the full 9% buffer intact, you have 9.00% of protection remaining. The index would need to decline approximately 9.79% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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INOV Detailed Analysis

365 Days Remaining

Until Outcome Period Reset

+0.00%

FUND RETURN

+0.00%

INDEX RETURN

-0.85%*

DOWNSIDE
BEFORE BUFFER

17.51%*

REMAINING
CAP

15%

Buffer Level

17.5%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, INOV is at +0.0% with 365 days remaining. Trading at +0.0%, INOV remains near its starting level with 12.0 months until reset. This early entry point still leaves most of the potential return available, while the full 15% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 17.51% remaining upside potential to cap (after fees), but the current 0.0% drawdown creates an enhanced opportunity. With the index at 0.0%, the fund is tracking normally after fees. From the current position, the total potential gain to cap is 17.51%, while only 0.0% of the 15% buffer has been consumed. With 12.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 17.51% cap yield, representing 4.9x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

INOV currently shows a downside before buffer of -0.85% (after fees). With the fund at +0.00% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 15.85% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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KNOV Detailed Analysis

365 Days Remaining

Until Outcome Period Reset

+0.00%

FUND RETURN

+0.00%

INDEX RETURN

-0.79%*

DOWNSIDE
BEFORE BUFFER

17.39%*

REMAINING
CAP

15%

Buffer Level

17.4%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, KNOV is at +0.0% with 365 days remaining. Trading at +0.0%, KNOV remains near its starting level with 12.0 months until reset. This early entry point still leaves most of the potential return available, while the full 15% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 17.39% remaining upside potential to cap (after fees), but the current 0.0% drawdown creates an enhanced opportunity. With the index at 0.0%, the fund is tracking normally after fees. From the current position, the total potential gain to cap is 17.39%, while only 0.0% of the 15% buffer has been consumed. With 12.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 17.39% cap yield, representing 4.9x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

KNOV currently shows a downside before buffer of -0.79% (after fees). With the fund at +0.00% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 15.79% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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NNOV Detailed Analysis

365 Days Remaining

Until Outcome Period Reset

+0.00%

FUND RETURN

+0.00%

INDEX RETURN

-0.79%*

DOWNSIDE
BEFORE BUFFER

15.13%*

REMAINING
CAP

15%

Buffer Level

15.1%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, NNOV is at +0.0% with 365 days remaining. Trading at +0.0%, NNOV remains near its starting level with 12.0 months until reset. This early entry point still leaves most of the potential return available, while the full 15% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 15.13% remaining upside potential to cap (after fees), but the current 0.0% drawdown creates an enhanced opportunity. With the index at 0.0%, the fund is tracking normally after fees. From the current position, the total potential gain to cap is 15.13%, while only 0.0% of the 15% buffer has been consumed. With 12.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 15.13% cap yield, representing 4.2x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

NNOV currently shows a downside before buffer of -0.79% (after fees). With the fund at +0.00% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 15.79% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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PNOV Detailed Analysis

365 Days Remaining

Until Outcome Period Reset

+0.00%

FUND RETURN

+0.00%

INDEX RETURN

-0.79%*

DOWNSIDE
BEFORE BUFFER

12.46%*

REMAINING
CAP

15%

Buffer Level

12.5%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, PNOV is at +0.0% with 365 days remaining. Trading at +0.0%, PNOV remains near its starting level with 12.0 months until reset. This early entry point still leaves most of the potential return available, while the full 15% buffer protection remains intact.

✅ UPSIDE SCENARIO

The ETF has 12.46% remaining upside potential to cap (after fees), but the current 0.0% drawdown creates an enhanced opportunity. With the index at 0.0%, the fund is tracking normally after fees. From the current position, the total potential gain to cap is 12.46%, while only 0.0% of the 15% buffer has been consumed. With 12.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 12.46% cap yield, representing 3.5x the current 3.58% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

PNOV currently shows a downside before buffer of -0.79% (after fees). With the fund at +0.00% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 15.79% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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ZNOV Detailed Analysis

365 Days Remaining

Until Outcome Period Reset

+0.00%

FUND RETURN

+0.00%

INDEX RETURN

-0.79%*

DOWNSIDE
BEFORE BUFFER

6.05%*

REMAINING
CAP

100%

Buffer Level

6.0%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, ZNOV is at +0.0% with 365 days remaining. Having retraced to below its starting level with 12.0 months remaining, this protected ETF presents a tactical opportunity with enhanced probability dynamics. The principal protection eliminates downside risk while the shorter time frame and reset position create a compelling risk-free upside capture scenario.

✅ UPSIDE SCENARIO

The ETF has 6.05% remaining upside potential to cap (after fees), but the current 0.0% drawdown creates an enhanced opportunity. With the index at 0.0%, the fund is tracking normally after fees. From the current position, the total potential gain to cap is 6.05%, while only 0.0% of the 100% buffer has been consumed. With 12.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 6.05% cap yield, significantly exceeding the 3.58% T-Bill rate by 2.5 percentage points.

🛡️ DOWNSIDE PROTECTION

ZNOV provides complete principal protection for one year if entered at the starting point (before fees). Regardless of market decline, the initial investment is fully protected at reset (before fees). This asymmetric structure allows for upside participation with no downside risk to principal, making position sizing considerations focus solely on opportunity cost rather than risk of loss. If entered after period has started the downside before buffer and total fees for the period will be the max loss.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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APOC Detailed Analysis

151 Days Remaining

Until Outcome Period Reset

+0.44%

FUND RETURN

+2.38%

INDEX RETURN

-0.84%*

DOWNSIDE
BEFORE BUFFER

2.50%*

REMAINING
CAP

100%

Buffer Level

6.1%

Cap Yield

3.9%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, APOC is at +0.4% with 151 days remaining. Having returned to near its starting level with 5.0 months until reset, this represents a tactical re-entry opportunity with the full 100% buffer protection restored. The shorter time horizon creates a higher probability setup, as the defined outcome parameters become increasingly predictable approaching reset, while maintaining substantial upside to cap.

✅ UPSIDE SCENARIO

The ETF has 2.50% remaining upside potential (after fees), having already captured 0.44% of the approximately 2.9% total cap. This creates a 3.0:1 reward-to-risk ratio for the remaining period.With 5.0 months until reset, timing becomes increasingly important. Annualized, this translates to 6.05% cap yield, significantly exceeding the 3.93% T-Bill rate by 2.1 percentage points.

🛡️ DOWNSIDE PROTECTION

APOC provides complete principal protection for six months if entered at the starting point (before fees). Regardless of market decline, the initial investment is fully protected at reset (before fees). This asymmetric structure allows for upside participation with no downside risk to principal, making position sizing considerations focus solely on opportunity cost rather than risk of loss. If entered after period has started the downside before buffer and total fees for the period will be the max loss.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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ZOCT Detailed Analysis

334 Days Remaining

Until Outcome Period Reset

+0.46%

FUND RETURN

+2.38%

INDEX RETURN

-1.24%*

DOWNSIDE
BEFORE BUFFER

5.25%*

REMAINING
CAP

100%

Buffer Level

5.7%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, ZOCT is at +0.5% with 334 days remaining. Having returned to near its starting level with 11.0 months until reset, this represents a tactical re-entry opportunity with the full 100% buffer protection restored. The shorter time horizon creates a higher probability setup, as the defined outcome parameters become increasingly predictable approaching reset, while maintaining substantial upside to cap.

✅ UPSIDE SCENARIO

The ETF has 5.25% remaining upside potential (after fees), having already captured 0.46% of the approximately 5.7% total cap. This creates a 4.2:1 reward-to-risk ratio for the remaining period.With 11.0 months remaining, there is ample time for this upside scenario to develop. Annualized, this translates to 5.73% cap yield, significantly exceeding the 3.58% T-Bill rate by 2.2 percentage points.

🛡️ DOWNSIDE PROTECTION

ZOCT provides complete principal protection for one year if entered at the starting point (before fees). Regardless of market decline, the initial investment is fully protected at reset (before fees). This asymmetric structure allows for upside participation with no downside risk to principal, making position sizing considerations focus solely on opportunity cost rather than risk of loss. If entered after period has started the downside before buffer and total fees for the period will be the max loss.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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DDFO Detailed Analysis

334 Days Remaining

Until Outcome Period Reset

+0.82%

FUND RETURN

+2.38%

INDEX RETURN

-1.60%*

DOWNSIDE
BEFORE BUFFER

7.35%*

REMAINING
CAP

15%

Buffer Level

8.0%

Cap Yield

3.6%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, DDFO is at +0.8% with 11.0 months remaining. Dual Directional Buffer ETFsâ„¢ offer the potential for positive returns in both up and down markets, and a built-in buffer against losses in severely down markets. With the outcome period recently reset, this represents an optimal entry point with maximum flexibility to profit from market moves to an upside cap or a downside buffer.

✅ UPSIDE SCENARIO

On the upside, the ETF has 7.35% remaining potential to cap (after fees), having already captured 0.82% of gains. If the market continues rising, the ETF will participate up to this cap level, providing 8.03% annualized yield on the remaining upside. This 2.2x the 3.58% T-Bill rate, compensating for the directional market risk while maintaining the unique downside profit potential.the dual-direction structure provides flexibility that traditional capped ETFs lackâ€”if the market doesn't rise, the ETF can still generate positive returns from market declines.

🛡️ DOWNSIDE PROTECTION

DDFO offers a unique structure where profits can be achieved if the market declines. The ETF generates POSITIVE returns when the index drops, up to a remaining inverse cap of ~13.5% (after fees). If bought here with the ETF up 0.8%, there will be a ~13.5% inverse cap. The ETF stops generating positive returns from declines and that inverse cap becomes the buffer amount.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

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XDQQ Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+3.43%

FUND RETURN

+4.78%

INDEX RETURN

3.30%*

DOWNSIDE
BEFORE BUFFER

4.61%*

REMAINING
CAP

0%

Buffer Level

27.6%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XDQQ is at +3.4% with 61 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 4.61% remaining upside potential (after fees), having already captured 3.43% of the approximately 8.0% total cap. This creates a 1.4:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 27.57% cap yield, representing 6.8x the current 4.06% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

XDQQ offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XDSQ Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+1.92%

FUND RETURN

+2.38%

INDEX RETURN

1.79%*

DOWNSIDE
BEFORE BUFFER

4.32%*

REMAINING
CAP

0%

Buffer Level

25.8%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XDSQ is at +1.9% with 61 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 4.32% remaining upside potential (after fees), having already captured 1.92% of the approximately 6.2% total cap. This creates a 2.4:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 25.84% cap yield, representing 6.4x the current 4.06% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

XDSQ offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

QTJL Detailed Analysis

242 Days Remaining

Until Outcome Period Reset

+8.50%

FUND RETURN

+14.04%

INDEX RETURN

7.98%*

DOWNSIDE
BEFORE BUFFER

8.89%*

REMAINING
CAP

0%

Buffer Level

13.4%

Cap Yield

3.8%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, QTJL is at +8.5% with 242 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 8.89% remaining upside potential (after fees), having already captured 8.50% of the approximately 17.4% total cap. This creates a 1.1:1 reward-to-risk ratio for the remaining period.The 8.0 month time horizon provides a reasonable period for upside capture. Annualized, this translates to 13.40% cap yield, representing 3.6x the current 3.76% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

QTJL offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XTJL Detailed Analysis

242 Days Remaining

Until Outcome Period Reset

+6.24%

FUND RETURN

+10.40%

INDEX RETURN

5.72%*

DOWNSIDE
BEFORE BUFFER

7.60%*

REMAINING
CAP

0%

Buffer Level

11.5%

Cap Yield

3.8%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XTJL is at +6.2% with 242 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 7.60% remaining upside potential (after fees), having already captured 6.24% of the approximately 13.8% total cap. This creates a 1.3:1 reward-to-risk ratio for the remaining period.The 8.0 month time horizon provides a reasonable period for upside capture. Annualized, this translates to 11.46% cap yield, representing 3.0x the current 3.76% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

XTJL offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

QTJA Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+16.75%

FUND RETURN

+23.05%

INDEX RETURN

16.62%*

DOWNSIDE
BEFORE BUFFER

1.52%*

REMAINING
CAP

0%

Buffer Level

9.1%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, QTJA is at +16.8% with 61 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 1.52% remaining upside potential (after fees), having already captured 16.75% of the approximately 18.3% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 9.08% cap yield, representing 2.2x the current 4.06% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

QTJA offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XBJA Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+9.52%

FUND RETURN

+16.38%

INDEX RETURN

-9.48%*

DOWNSIDE
BEFORE BUFFER

1.20%*

REMAINING
CAP

9%

Buffer Level

7.2%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XBJA is at +9.5% with 61 days remaining. Having pulled back to near its starting level with 2.0 months remaining, XBJA at +9.5% represents a tactical re-entry opportunity. The full 9% buffer protection is restored, while the shorter time horizon creates higher probability dynamics as the defined outcome parameters become increasingly predictable approaching reset.

✅ UPSIDE SCENARIO

The ETF has 1.20% remaining upside potential (after fees), having already captured 9.52% of the approximately 10.7% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 7.17% cap yield, significantly exceeding the 4.06% T-Bill rate by 3.1 percentage points.

🛡️ DOWNSIDE PROTECTION

XBJA currently shows a downside before buffer of -9.48% (after fees). With the fund at +9.52% and the full 9% buffer intact, you have 9.00% of protection remaining. The index would need to decline approximately 18.48% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XTJA Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+12.04%

FUND RETURN

+16.38%

INDEX RETURN

11.91%*

DOWNSIDE
BEFORE BUFFER

1.53%*

REMAINING
CAP

0%

Buffer Level

9.1%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XTJA is at +12.0% with 61 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 1.53% remaining upside potential (after fees), having already captured 12.04% of the approximately 13.6% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 9.14% cap yield, representing 2.3x the current 4.06% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

XTJA offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

QTAP Detailed Analysis

151 Days Remaining

Until Outcome Period Reset

+16.50%

FUND RETURN

+34.15%

INDEX RETURN

16.17%*

DOWNSIDE
BEFORE BUFFER

3.19%*

REMAINING
CAP

0%

Buffer Level

7.7%

Cap Yield

3.9%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, QTAP is at +16.5% with 151 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 3.19% remaining upside potential (after fees), having already captured 16.50% of the approximately 19.7% total cap. This creates a 0.2:1 reward-to-risk ratio for the remaining period.With 5.0 months until reset, timing becomes increasingly important. Annualized, this translates to 7.72% cap yield, significantly exceeding the 3.93% T-Bill rate by 3.8 percentage points.

🛡️ DOWNSIDE PROTECTION

QTAP offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XBAP Detailed Analysis

151 Days Remaining

Until Outcome Period Reset

+8.85%

FUND RETURN

+21.93%

INDEX RETURN

-8.92%*

DOWNSIDE
BEFORE BUFFER

2.82%*

REMAINING
CAP

9%

Buffer Level

6.8%

Cap Yield

3.9%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XBAP is at +8.8% with 151 days remaining. Having pulled back to near its starting level with 5.0 months remaining, XBAP at +8.8% represents a tactical re-entry opportunity. The full 9% buffer protection is restored, while the shorter time horizon creates higher probability dynamics as the defined outcome parameters become increasingly predictable approaching reset.

✅ UPSIDE SCENARIO

The ETF has 2.82% remaining upside potential (after fees), having already captured 8.85% of the approximately 11.7% total cap. This creates a 0.3:1 reward-to-risk ratio for the remaining period.With 5.0 months until reset, timing becomes increasingly important. Annualized, this translates to 6.82% cap yield, significantly exceeding the 3.93% T-Bill rate by 2.9 percentage points.

🛡️ DOWNSIDE PROTECTION

XBAP currently shows a downside before buffer of -8.92% (after fees). With the fund at +8.85% and the full 9% buffer intact, you have 9.00% of protection remaining. The index would need to decline approximately 17.92% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XTAP Detailed Analysis

151 Days Remaining

Until Outcome Period Reset

+11.93%

FUND RETURN

+21.93%

INDEX RETURN

11.60%*

DOWNSIDE
BEFORE BUFFER

3.42%*

REMAINING
CAP

0%

Buffer Level

8.3%

Cap Yield

3.9%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XTAP is at +11.9% with 151 days remaining. This signal indicates an opportunity worth investigating based on the current positioning within the outcome period and the available risk-reward parameters.

✅ UPSIDE SCENARIO

The ETF has 3.42% remaining upside potential (after fees), having already captured 11.93% of the approximately 15.4% total cap. This creates a 0.3:1 reward-to-risk ratio for the remaining period.With 5.0 months until reset, timing becomes increasingly important. Annualized, this translates to 8.27% cap yield, representing 2.1x the current 3.93% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

XTAP offers no downside buffer protection as an accelerated ETF. The position will participate fully in any index declines, making this suitable only for investors with strong market convictions and appropriate risk tolerance. Position sizing and timing are critical as losses can accumulate rapidly in adverse markets.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

XBJL Detailed Analysis

242 Days Remaining

Until Outcome Period Reset

+4.74%

FUND RETURN

+10.40%

INDEX RETURN

-5.31%*

DOWNSIDE
BEFORE BUFFER

6.03%*

REMAINING
CAP

9%

Buffer Level

9.1%

Cap Yield

3.8%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, XBJL is at +4.7% with 242 days remaining. With XBJL at +4.7% and 8.0 months until reset, this ETF is positioned near its starting level. The full 9% buffer protection remains intact, while the shorter time horizon provides enhanced probability characteristics.

✅ UPSIDE SCENARIO

The ETF has 6.03% remaining upside potential (after fees), having already captured 4.74% of the approximately 10.8% total cap. This creates a 1.1:1 reward-to-risk ratio for the remaining period.The 8.0 month time horizon provides a reasonable period for upside capture. Annualized, this translates to 9.09% cap yield, representing 2.4x the current 3.76% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

XBJL currently shows a downside before buffer of -5.31% (after fees). With the fund at +4.74% and the full 9% buffer intact, you have 9.00% of protection remaining. The index would need to decline approximately 14.31% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

IDEC Detailed Analysis

30 Days Remaining

Until Outcome Period Reset

+16.26%

FUND RETURN

+19.65%

INDEX RETURN

-14.84%*

DOWNSIDE
BEFORE BUFFER

0.93%*

REMAINING
CAP

15%

Buffer Level

11.3%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, IDEC is at +16.3% with 30 days remaining. Having broken above the cap level, this ETF has entered a critical exit zone where additional gains are capped while downside risk remains. This signal indicates strong consideration for rolling to a fresh outcome period or taking profits, as the asymmetric risk profile no longer favors holding the position.

✅ UPSIDE SCENARIO

The ETF has 0.93% remaining upside potential (after fees), having already captured 16.26% of the approximately 17.2% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 1.0 month timeframe requires near-term market cooperation. Annualized, this translates to 11.32% cap yield, representing 2.8x the current 4.11% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

IDEC currently shows a downside before buffer of -14.84% (after fees). With the fund at +16.26% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 29.84% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

NDEC Detailed Analysis

30 Days Remaining

Until Outcome Period Reset

+13.09%

FUND RETURN

+23.41%

INDEX RETURN

-12.37%*

DOWNSIDE
BEFORE BUFFER

0.50%*

REMAINING
CAP

15%

Buffer Level

6.0%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, NDEC is at +13.1% with 30 days remaining. Having broken above the cap level, this ETF has entered a critical exit zone where additional gains are capped while downside risk remains. This signal indicates strong consideration for rolling to a fresh outcome period or taking profits, as the asymmetric risk profile no longer favors holding the position.

✅ UPSIDE SCENARIO

The ETF has 0.50% remaining upside potential (after fees), having already captured 13.09% of the approximately 13.6% total cap. This creates a 0.0:1 reward-to-risk ratio for the remaining period.The compressed 1.0 month timeframe requires near-term market cooperation. Annualized, this translates to 6.02% cap yield, modestly outpacing the 4.11% T-Bill rate by 1.9 percentage points.

🛡️ DOWNSIDE PROTECTION

NDEC currently shows a downside before buffer of -12.37% (after fees). With the fund at +13.09% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 27.37% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

ZDEK Detailed Analysis

30 Days Remaining

Until Outcome Period Reset

+6.45%

FUND RETURN

+13.19%

INDEX RETURN

-6.85%*

DOWNSIDE
BEFORE BUFFER

0.46%*

REMAINING
CAP

100%

Buffer Level

5.5%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, ZDEK is at +6.5% with 30 days remaining. Having broken above the cap level, this ETF has entered a critical exit zone where additional gains are capped while downside risk remains. This signal indicates strong consideration for rolling to a fresh outcome period or taking profits, as the asymmetric risk profile no longer favors holding the position.

✅ UPSIDE SCENARIO

The ETF has 0.46% remaining upside potential (after fees), having already captured 6.45% of the approximately 6.9% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 1.0 month timeframe requires near-term market cooperation. Annualized, this translates to 5.54% cap yield, modestly outpacing the 4.11% T-Bill rate by 1.4 percentage points.

🛡️ DOWNSIDE PROTECTION

ZDEK provides complete principal protection for one year if entered at the starting point (before fees). Regardless of market decline, the initial investment is fully protected at reset (before fees). This asymmetric structure allows for upside participation with no downside risk to principal, making position sizing considerations focus solely on opportunity cost rather than risk of loss. If entered after period has started the downside before buffer and total fees for the period will be the max loss.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

AJAN Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+13.55%

FUND RETURN

+43.50%

INDEX RETURN

-13.52%*

DOWNSIDE
BEFORE BUFFER

0.40%*

REMAINING
CAP

100%

Buffer Level

2.4%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, AJAN is at +13.6% with 61 days remaining. Having broken above the cap level, this ETF has entered a critical exit zone where additional gains are capped while downside risk remains. This signal indicates strong consideration for rolling to a fresh outcome period or taking profits, as the asymmetric risk profile no longer favors holding the position.

✅ UPSIDE SCENARIO

The ETF has 0.40% remaining upside potential (after fees), having already captured 13.55% of the approximately 13.9% total cap. This creates a 0.0:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 2.38% cap yield. Note that this is below the current 4.06% T-Bill rate, suggesting limited relative value unless seeking the specific protection features.

🛡️ DOWNSIDE PROTECTION

AJAN provides complete principal protection for two years if entered at the starting point (before fees). Regardless of market decline, the initial investment is fully protected at reset (before fees). This asymmetric structure allows for upside participation with no downside risk to principal, making position sizing considerations focus solely on opportunity cost rather than risk of loss. If entered after period has started the downside before buffer and total fees for the period will be the max loss.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

EJAN Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+13.35%

FUND RETURN

+32.23%

INDEX RETURN

-12.67%*

DOWNSIDE
BEFORE BUFFER

0.83%*

REMAINING
CAP

15%

Buffer Level

5.0%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, EJAN is at +13.3% with 61 days remaining. Having broken above the cap level, this ETF has entered a critical exit zone where additional gains are capped while downside risk remains. This signal indicates strong consideration for rolling to a fresh outcome period or taking profits, as the asymmetric risk profile no longer favors holding the position.

✅ UPSIDE SCENARIO

The ETF has 0.83% remaining upside potential (after fees), having already captured 13.35% of the approximately 14.2% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 4.97% cap yield, modestly outpacing the 4.06% T-Bill rate by 0.9 percentage points.

🛡️ DOWNSIDE PROTECTION

EJAN currently shows a downside before buffer of -12.67% (after fees). With the fund at +13.35% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 27.67% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

×

IJAN Detailed Analysis

61 Days Remaining

Until Outcome Period Reset

+17.35%

FUND RETURN

+24.97%

INDEX RETURN

-15.64%*

DOWNSIDE
BEFORE BUFFER

1.61%*

REMAINING
CAP

15%

Buffer Level

9.6%

Cap Yield

4.1%

T-Bill Rate

📋 POSITION SNAPSHOT

As of today, IJAN is at +17.4% with 61 days remaining. Having broken above the cap level, this ETF has entered a critical exit zone where additional gains are capped while downside risk remains. This signal indicates strong consideration for rolling to a fresh outcome period or taking profits, as the asymmetric risk profile no longer favors holding the position.

✅ UPSIDE SCENARIO

The ETF has 1.61% remaining upside potential (after fees), having already captured 17.35% of the approximately 19.0% total cap. This creates a 0.1:1 reward-to-risk ratio for the remaining period.The compressed 2.0 month timeframe requires near-term market cooperation. Annualized, this translates to 9.62% cap yield, representing 2.4x the current 4.06% T-Bill rate. This substantial premium compensates for the equity risk and cap limitation.

🛡️ DOWNSIDE PROTECTION

IJAN currently shows a downside before buffer of -15.64% (after fees). With the fund at +17.35% and the full 15% buffer intact, you have 15.00% of protection remaining. The index would need to decline approximately 30.64% from current levels before the end of the buffer protection.

*Note: All calculations shown above have already been adjusted for fees. The remaining cap and downside values reflect the actual position after accounting for management expenses.

ETF Insights - November 03, 2025

Eric Cerrone

Defined Outcome ETF† Insights

Understanding Key Metrics

🎯 Near Starting Point - Prime Entry Opportunities

🛡️ 100% Principal Protection†

🔄 Dual Direction Entry† - Profit From Either Direction

🚀 Acceleration Zone - Enhanced Returns Available

NEAR THRESHOLD

NEAR MAXIMUM CAP

📈 Approaching Cap - Above Starting Level

Important Disclosures

Read more

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