Which has more room to gain, APOC or MARM?

From their prices on Oct 9, 2026, APOC can gain about 3.7% before its cap and MARM about 2.1%, 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: Cap, Buffer & Days Left

As of Oct 9, 2026 MARM can fall 4.6% before its buffer engages and APOC 0.6%, and MARM resets 12 days sooner. Net assets on Oct 9, 2026: $78m for Innovator Equity Defined Protection ETF - 6 Mo Apr/Oct and $107m for FT Vest U.S. Equity Max Buffer ETF - March.

APOC costs 0.06 points a year less; their one-year returns differ by 3.3 points; MARM is 1.4 times larger.

	APOC	MARM
Expense ratio	0.79%	0.85%
Net assets	$78m	$107m
Total return, 1 year	+3.0%	+6.3%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	2.0%	16.7%

0.6%

APOC can fall this far before its buffer

4.6%

MARM can fall this far before its buffer

3.7%

APOC can still gain

2.1%

MARM can still gain

APOCFull floor

APOC: reference +2.1% since period start, fund +0.6%; buffer Floor; cap +4.3%; Full floor. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

MARMAt its cap

MARM: reference +20.0% since period start, fund +3.9%; buffer 0 to −78; cap +7.0%; At its cap. Figures to Oct 9, 2026.

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, 161 days from now; APOC runs to Mar 31, 2027, 173 days. APOC can still gain 3.7% before its cap, MARM 2.1%. A fall from here reaches APOC’s buffer after 0.6% and MARM’s after 4.6%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

	Total return		Gap to the reference's price return
Window	APOC	MARM	APOC	MARM
3 months	+1.5%	+1.3%	−1.6 pts	−1.8 pts
6 months	+3.0%	+2.9%	−11.6 pts	−11.7 pts
1 year	+3.0%	+6.3%	−13.0 pts	−9.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. 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 173 161

Starting cap +4.3% +7.0%

Can still gain 3.7% 2.1%

Fall before buffer 0.6% 4.6%

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

Index return this period +2.1% +20.0%

Fund return this period +0.6% +3.9%

State today Open At cap

Expense ratio 0.79% 0.85%

Net assets $78m $107m

As of Oct 9, 2026. Source: ETFIQ.

APOC in plain words

From its price on Oct 9, 2026, the fund can gain about 3.7% more before it reaches its cap. The fund's price can fall 0.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 2.0% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 173 days remained on Oct 9, 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 9, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.1% as the period runs out. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 16.7% 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. 161 days remained on Oct 9, 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 9, 2026, APOC can gain about 3.7% before its cap and MARM about 2.1%, 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 DDSQ APOC vs ZAPR APOC vs QBSF APOC vs PBOC MARM vs SIXO MARM vs XBAP MARM vs PBAP MARM vs UAPR

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →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; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

ETFIQ calculates every figure from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.

Every figure is an ETFIQ calculation with distributions reinvested.

Cite this page

ETFIQ, APOC against MARM, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/apoc-vs-marm

Open data

Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.