Which has more room to gain, APOC or MARM?

From their prices on Oct 1, 2026, APOC can gain about 4.3% before its cap and MARM about 2.4%, so APOC has more room left this period.

Which resets first, APOC or MARM?

APOC ends its outcome period on Mar 31, 2027 and MARM on Mar 19, 2027. A new cap is set the day after each.

Which is cheaper, APOC or MARM?

APOC charges 0.79% a year and MARM charges 0.85%, so APOC is cheaper. Fees come from each fund's prospectus.

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APOC vs MARM: which one stands where?

As of Oct 1, 2026 MARM can fall 4.3% before its buffer engages and APOC 0.0%, and MARM resets 12 days sooner. Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct and FT Vest U.S. Equity Max Buffer ETF - March.

0.0%

APOC can fall this far before its buffer

4.3%

MARM can fall this far before its buffer

4.3%

APOC can still gain

2.4%

MARM can still gain

APOCFull floor

APOC: reference 0.0% since period start, fund 0.0%; buffer Floor; cap +4.3%; Full floor.

MARMAt its cap

MARM: reference +17.6% since period start, fund +3.6%; buffer 0 to −78; cap +7.0%; At its cap.

These are two different products. APOC is a floor fund, which caps how far a holder can fall. MARM is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

MARM is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

MARM resets first, on Mar 19, 2027, 170 days from now; APOC runs to Mar 31, 2027, 182 days. APOC can still gain 4.3% before its cap, MARM 2.4%. A fall from here reaches APOC’s buffer after 0.0% and MARM’s after 4.3%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	APOC	MARM	APOC	MARM
3 months	+1.5%	+1.3%	−1.0 pts	−1.2 pts
6 months	+3.1%	+3.3%	−13.9 pts	−13.7 pts
1 year	+2.8%	+6.1%	−12.9 pts	−9.7 pts

APOC and MARM over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

APOC

Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct · Absorbs the whole loss on SPY and caps the gain at 4.3%, over a period ending Mar 31, 2027

MARM

FT Vest U.S. Equity Max Buffer ETF - March · Absorbs the first 78% of loss on SPY and caps the gain at 7.0%, over a period ending Mar 19, 2027

Issuer Innovator First Trust

Reference index SPY SPY

Buffer 100% 78%

Outcome period Sep 30, 2026 to Mar 31, 2027 Mar 23, 2026 to Mar 19, 2027

Days left 182 170

Starting cap +4.3% +7.0%

Can still gain 4.3% 2.4%

Fall before buffer 0.0% 4.3%

Protection left, index points 100.0% of 100.0% 77.8% of 77.8%

Index return this period 0.0% +17.6%

Fund return this period 0.0% +3.6%

State today Open At cap

Expense ratio 0.79% 0.85%

Net assets $72m $106m

APOC and MARM on the same fields, as of Oct 1, 2026. Source: ETFIQ.

APOC in plain words

From its price on Oct 1, 2026, the fund can gain about 4.3% more before it reaches its cap. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 182 days remained on Oct 1, 2026. On Mar 31, 2027 the period ends and a new cap is set.

MARM in plain words

SPY had already risen past this fund's cap of +7.0% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.4% as the period runs out. The fund's price can fall 4.3% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 14.9% from today's level to the point where the buffer begins. Protection left, in index points: 77.8% of the 77.8% buffer still sits below today's SPY level. 170 days remained on Oct 1, 2026. On Mar 19, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, APOC or MARM?: From their prices on Oct 1, 2026, APOC can gain about 4.3% before its cap and MARM about 2.4%, so APOC has more room left this period.
Which resets first, APOC or MARM?: APOC ends its outcome period on Mar 31, 2027 and MARM on Mar 19, 2027. A new cap is set the day after each.
Which is cheaper, APOC or MARM?: APOC charges 0.79% a year and MARM charges 0.85%, so APOC is cheaper. Fees come from each fund's prospectus.

Other comparisons

APOC vs QBSV APOC vs SEPM APOC vs SIXO APOC vs TAPR MARM vs PAPR MARM vs PBAP MARM vs PMAP MARM vs SIXO

SPY →APOC on its own →MARM on its own →How every figure is computed →Standards and sources →

Where these figures came from

APOC filings on SEC EDGAR ↗Innovator page for APOC ↗MARM filings on SEC EDGAR ↗First Trust page for MARM ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, APOC against MARM, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/apoc-vs-marm

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.