{"url":"https://etfiq.com/compare/buffer/aapr-vs-fmar","section":"compare","title":"AAPR vs FMAR: Cap, Buffer & Days Left | ETFIQ","description":"As of Oct 22, 2026 AAPR can gain 10.7% before its cap and FMAR 4.5%. Each can fall 4.4% and 10.9% before its buffer engages, on SPY.","as_of":"Oct 22, 2026","structured_data":[{"@type":"FAQPage","mainEntity":[{"@type":"Question","name":"Which has more room to gain, AAPR or FMAR?","acceptedAnswer":{"@type":"Answer","text":"From their prices on Oct 22, 2026, AAPR can gain about 10.7% before its cap and FMAR about 4.5%, so AAPR has more room left this period."}},{"@type":"Question","name":"Which resets first, AAPR or FMAR?","acceptedAnswer":{"@type":"Answer","text":"AAPR ends its outcome period on Mar 31, 2028 and FMAR on Mar 19, 2027. A new cap is set the day after each."}},{"@type":"Question","name":"Which is cheaper, AAPR or FMAR?","acceptedAnswer":{"@type":"Answer","text":"AAPR charges 0.79% a year and FMAR charges 0.85%, so AAPR is cheaper. Fees come from each fund's prospectus."}}]},{"@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"ETFIQ","item":"https://etfiq.com/"},{"@type":"ListItem","position":2,"name":"Buffer ETFs","item":"https://etfiq.com/buffer/"},{"@type":"ListItem","position":3,"name":"Compare ETFs","item":"https://etfiq.com/compare/"},{"@type":"ListItem","position":4,"name":"AAPR vs FMAR","item":"https://etfiq.com/compare/buffer/aapr-vs-fmar"}]},{"@type":"WebPage","name":"AAPR vs FMAR: Cap, Buffer & Days Left","description":"As of Oct 22, 2026 AAPR can gain 10.7% before its cap and FMAR 4.5%. Each can fall 4.4% and 10.9% before its buffer engages, on SPY.","url":"https://etfiq.com/compare/buffer/aapr-vs-fmar","dateModified":"2026-10-22","abstract":"As of Oct 22, 2026 FMAR can fall 10.9% before its buffer engages and AAPR 4.4%, and FMAR resets 378 days sooner.","publisher":{"@id":"https://etfiq.com/#org"},"isPartOf":{"@id":"https://etfiq.com/#website"},"speakable":{"@type":"SpeakableSpecification","cssSelector":[".verdict",".faq"]}},{"@type":"Dataset","name":"ETFIQ comparison of AAPR and FMAR","description":"As of Oct 22, 2026 AAPR can gain 10.7% before its cap and FMAR 4.5%. Each can fall 4.4% and 10.9% before its buffer engages, on SPY.","dateModified":"2026-10-22","creator":{"@id":"https://etfiq.com/#org"},"isAccessibleForFree":true,"url":"https://etfiq.com/compare/buffer/aapr-vs-fmar","license":"https://etfiq.com/license/","publisher":{"@id":"https://etfiq.com/#org"},"inLanguage":"en","creativeWorkStatus":"Published","distribution":[{"@type":"DataDownload","encodingFormat":"application/json","contentUrl":"https://etfiq.com/data/funds.json"}],"variableMeasured":["Remaining cap","Fall before the buffer engages","Protection left in index points","Starting buffer","Outcome period","Reference index return","Fund return","Days remaining","Expense ratio"],"keywords":["exchange-traded funds","ETF","Buffer ETFs","fund data","SEC filings"]}],"characters":6844,"truncated":true,"content":"ETFIQ / Buffer ETFs / Compare ETFs / AAPR vs FMAR \n ETFIQ etfiq.com \u00b7 independent ETF data \n\n Data as of Oct 22, 2026 .\n\n AAPR vs FMAR: Cap, Buffer & Days Left\n\n As of Oct 22, 2026 FMAR can fall 10.9% before its buffer engages and AAPR 4.4%, and FMAR resets 378 days sooner.\n Copy this for sharing \n \n AAPR costs 0.06 points a year less; their one-year returns differ by 8.7 points; FMAR is 17.0 times larger.\n AAPR and FMAR at a glance. As of Oct 22, 2026. Source: ETFIQ. AAPR FMAR \n Expense ratio 0.79% 0.85% \n Net assets $71m $1.2bn \n Total return, 1 year +7.0% +15.7% \n What it tracks SPY SPY \n H","source":"ETFIQ, independent ETF data. Recomputed nightly from public filings and prices.","publisher":{"@id":"https://etfiq.com/#org","name":"ETFIQ","url":"https://etfiq.com"},"license":"https://etfiq.com/license/","license_text":"Figures ETFIQ computes are free to use with attribution: ETFIQ (etfiq.com). Issuer data stays under its owner's terms.","citation":"ETFIQ, AAPR against FMAR, data as of Oct 22, 2026. https://etfiq.com/compare/buffer/aapr-vs-fmar","a":{"ticker":"AAPR","name":"Innovator Equity Defined Protection ETF - Apr 2028","issuer":"Innovator","desk":"buffer","as_of":"2026-10-22","verdict":"Since Mar 31, 2026, AAPR returned 4.1%, against 17.5% for SPY. It can gain 10.7% more before its cap.","url":"https://etfiq.com/funds/aapr","key_facts":[{"label":"Can still gain from today\u2019s fund price","value":"10.7%","as_of":"2026-10-22","source":null},{"label":"Fall before the buffer from today\u2019s fund price","value":"4.4%","as_of":"2026-10-22","source":null},{"label":"Protection left, index points","value":"100.0%","as_of":"2026-10-22","source":null},{"label":"Days to reset","value":"526","as_of":"2026-10-22","source":null},{"label":"Net assets","value":"$71m","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.79%","as_of":"2026-10-22","source":"issuer page, Oct 22, 2026"}]},"b":{"ticker":"FMAR","name":"FT Vest U.S. Equity Buffer ETF - March","issuer":"First Trust","desk":"buffer","as_of":"2026-10-22","verdict":"Since Mar 23, 2026, FMAR returned 11.3%, against 17.8% for SPY. It can gain 4.5% more before its cap.","url":"https://etfiq.com/funds/fmar","key_facts":[{"label":"Can still gain from today\u2019s fund price","value":"4.5%","as_of":"2026-10-22","source":null},{"label":"Fall before the buffer from today\u2019s fund price","value":"10.9%","as_of":"2026-10-22","source":null},{"label":"Protection left, index points","value":"10.0%","as_of":"2026-10-22","source":null},{"label":"Days to reset","value":"148","as_of":"2026-10-22","source":null},{"label":"Net assets","value":"$1.2bn","as_of":"2026-10-22","source":"issuer page, as of Oct 22, 2026"},{"label":"Expense ratio","value":"0.85%","as_of":"2026-10-22","source":"issuer page, Oct 22, 2026"}]},"overlap_pct":null,"overlap_note":"ETFIQ does not publish a holdings overlap for this pair. Either the funds are not compared on holdings, or one book is incomplete.","full_text_at":"https://etfiq.com/compare/buffer/aapr-vs-fmar"}