Data as of Nov 4, 2026.
APXM vs CMAY: Cap, Buffer & Days Left
CMAY can fall 4.7% before its buffer engages as of Nov 3, 2026, and APXM 3.7% as of Nov 4, 2026.
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Net assets: $22m on Nov 3, 2026 for FT Vest U.S. Equity Max Buffer ETF - April, and $1.2m on Nov 4, 2026 for Corgi U.S. Equities 15% Structured Buffer ETF - May Series.
APXM: reference +8.0% since period start, fund +3.0%; buffer 0 to −50; cap +7.0%; At its cap. Data to Nov 4, 2026.
APXM: reference +8.0% since period start, fund +3.0%; buffer 0 to −50; cap +7.0%; At its cap. Data to Nov 4, 2026.CMAY: reference +5.0% since period start, fund +4.0%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 3, 2026.
CMAY: reference +5.0% since period start, fund +4.0%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 3, 2026.Pair scorecard
CMAY costs 0.55 points a year less; APXM is 18.3 times larger.
Points (pts) are percentage points.
| Measure | APXM | CMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | +5.0% | not published |
| Drawdown | ||
| Index fall to the buffer | 7.4% | 4.7% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.30% |
| Net assets, as of Nov 3, 2026 | $22m | $1.2m |
| Holdings | ||
| Holdings in common | not published | |
How much of a bear-market fall the buffer would absorb from today's level, ranked against 292 buffer ETFs on stocks with a live outcome period. 100 is best. How it is computed
Today's position against one 20% fall; it ignores smaller falls, and stock buffers are never ranked against bond or commodity ones. All buffer ETFs ranked by it →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | APXM | CMAY | APXM | CMAY |
| 3 months | +1.0% | +0.7% | +1.4 pts | +1.1 pts |
| 6 months | +2.4% | +3.3% | −2.1 pts | −1.2 pts |
| 1 year | +5.0% | – | −8.6 pts | – |
| Since launchNot the same days: APXM Apr 2025 · CMAY May 2026 | +9.7% | +3.9% | −39.5 pts | −2.5 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
APXM is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
APXM resets first, on Apr 16, 2027, 163 days from now; CMAY runs to Apr 30, 2027, 178 days. A fall from here reaches APXM’s buffer after 3.7% and CMAY’s after 4.7%. Both track SPY, so what separates them is where each is in its own period.
APXM
SPY had already risen past this fund's cap of +7.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.1% as the period runs out. The fund's price can fall 3.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.4% from today's level to the point where the buffer begins. Protection left, in index points: 50.1% of the 50.1% buffer still sits below today's SPY level. 163 days remained on Nov 4, 2026. On Apr 16, 2027 the period ends and a new cap is set.
CMAY
The fund's price can fall 4.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 4.7% from today's level to the point where the buffer begins. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level. 178 days remained on Nov 3, 2026. On Apr 30, 2027 the period ends and a new cap is set.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
How this is computed
It is a place in a set, not a rating or a recommendation.
ETFIQ calculates every number 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 number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, APXM against CMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/apxm-vs-cmay
ETFIQ. (Nov 4, 2026). APXM against CMAY. Retrieved from https://etfiq.com/compare/buffer/apxm-vs-cmay
[APXM against CMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/apxm-vs-cmay)
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