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BMAR vs MART: Cap, Buffer & Days Left

As of Oct 13, 2026 BMAR can fall 9.8% before its buffer engages and MART 9.7%. Net assets on Oct 12, 2026: $206m for Innovator U.S. Equity Buffer ETF - Mar and $29m for AllianzIM U.S. Equity Buffer10 ETF - Mar.

MART costs 0.05 points a year less; their one-year returns differ by 0.5 points; BMAR is 7.0 times larger.

Points (pts) are percentage points.

BMAR vs MART: Cap, Buffer & Days Left
BMARMART
Expense ratio0.79%0.74%
Net assets, as of Oct 12, 2026$206m$29m
Total return, 1 year+17.1%+16.6%
What it tracksSPYSPY
Holdings in commonnot published
Index fall to the buffer11.7%
9.8%
BMAR can fall this far before its buffer
9.7%
MART can fall this far before its buffer
5.6%
BMAR can still gain
4.9%
MART can still gain
BMARBetween buffer and cap
Between buffer and capBMAR: reference +13.3% since period start, fund +10.3%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Figures to Oct 13, 2026.9 pts of buffer+13.3% gain captured−9.0% floor0% period start+17.0% cap+3.7% more to the capTODAY · SPY +13.3%Between buffer and capBMAR: reference +13.3% since period start, fund +10.3%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Figures to Oct 13, 2026.9 pts+13.3% gained−9.0% floor0% start+17.0% cap+3.7% more to the capTODAY · SPY +13.3%

BMAR: reference +13.3% since period start, fund +10.3%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Figures to Oct 13, 2026.

BMAR: reference +13.3% since period start, fund +10.3%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Figures to Oct 13, 2026.

MARTBetween buffer and cap
Between buffer and capMART: reference +13.3% since period start, fund +9.8%; buffer 0 to −10; cap +15.9%; Between buffer and cap. Figures to Oct 13, 2026.10 pts of buffer+13.3% gain captured−10.0% floor0% period start+15.9% cap+2.6% more to the capTODAY · SPY +13.3%Between buffer and capMART: reference +13.3% since period start, fund +9.8%; buffer 0 to −10; cap +15.9%; Between buffer and cap. Figures to Oct 13, 2026.10 pts+13.3% gained−10.0% floor0% start+15.9% cap+2.6% more to the capTODAY · SPY +13.3%

MART: reference +13.3% since period start, fund +9.8%; buffer 0 to −10; cap +15.9%; Between buffer and cap. Figures to Oct 13, 2026.

MART: reference +13.3% since period start, fund +9.8%; buffer 0 to −10; cap +15.9%; Between buffer and cap. Figures to Oct 13, 2026.

ETFIQ Downside Cover Score · MART scores higherIf the market falls into a bear market from here, how much does the buffer absorb?
0.2, the lowest in this set99.8, the highest

A percentile among the 292 buffer ETFs on stocks with a live outcome period. 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 → How it is computed →

Where each one stands today

BMAR resets first, on Feb 28, 2027, 138 days from now; MART runs to Feb 28, 2027, 138 days. BMAR can still gain 5.6% before its cap, MART 4.9%. A fall from here reaches BMAR’s buffer after 9.8% and MART’s after 9.7%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: BMAR vs MART: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowBMARMARTBMARMART
3 months+3.5%+3.4%−0.3 pts−0.4 pts
6 months+9.8%+9.2%−3.7 pts−4.2 pts
1 year+17.1%+16.6%−2.0 pts−2.5 pts
3 years+63.4%+60.8%−16.9 pts−19.5 pts
Since launch
Not the same days: BMAR Mar 2020 · MART Mar 2023
+123.8%+74.4%−28.0 pts−22.7 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open this comparison in the app →

On the same fields

BMAR
Innovator U.S. Equity Buffer ETF - Mar · Absorbs the first 9% of loss on SPY and caps the gain at 17.0%, over a period ending Feb 28, 2027
MART
AllianzIM U.S. Equity Buffer10 ETF - Mar · Absorbs the first 10% of loss on SPY and caps the gain at 15.9%, over a period ending Feb 28, 2027
Issuer Innovator AllianzIM
Reference index SPY SPY
Buffer 9% 10%
Outcome period Feb 28, 2026 to Feb 28, 2027 Mar 1, 2026 to Feb 28, 2027
Days left 138 138
Starting cap +17.0% +15.9%
Can still gain 5.6% 4.9%
Fall before buffer 9.8% 9.7%
Protection left, index points 9.0% of 9.0% 10.0% of 10.0%
Index return this period +13.3% +13.3%
Fund return this period +10.3% +9.8%
State today Open Open
Expense ratio 0.79% 0.74%
Net assets, as of Oct 12, 2026 $206m $29m

As of Oct 13, 2026. Source: ETFIQ.

About BMAR

From its price on Oct 13, 2026, the fund can gain about 5.6% more before it reaches its cap. The fund's price can fall 9.8% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 11.7% from today's level to the point where the buffer begins. Protection left, in index points: 9.0% of the 9.0% buffer still sits below today's SPY level. 138 days remained on Oct 13, 2026. On Feb 28, 2027 the period ends and a new cap is set.

About MART

From its price on Oct 13, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 9.7% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BMAR or MART?
From their prices on Oct 13, 2026, BMAR can gain about 5.6% before its cap and MART about 4.9%, so BMAR has more room left this period.
Which resets first, BMAR or MART?
BMAR ends its outcome period on Feb 28, 2027 and MART on Feb 28, 2027. A new cap is set the day after each.
Which is cheaper, BMAR or MART?
BMAR charges 0.79% a year and MART charges 0.74%, so MART is cheaper. Fees come from each fund's prospectus.
Other comparisons
BMAR vs MRCPBMAR vs CPSRBMAR vs MARUBMAR vs PBMRMART vs UMARMART vs GFEBMART vs ZMARMART vs DFEB
SPY →BMAR on its own →MART on its own →How every figure is computed →Standards and sources →
Where these figures came from
BMAR filings on SEC EDGAR ↗Innovator page for BMAR ↗MART filings on SEC EDGAR ↗AllianzIM page for MART ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. 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 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 pageCitation, APA and Markdown

ETFIQ, BMAR against MART, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bmar-vs-mart

Open data

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