Which has more room to gain, BMAR or MRCP?

From their prices on Oct 13, 2026, BMAR can gain about 5.5% before its cap and MRCP about 4.5%, so BMAR has more room left this period.

Which resets first, BMAR or MRCP?

BMAR ends its outcome period on Feb 28, 2027 and MRCP on Feb 28, 2027. A new cap is set the day after each.

Which is cheaper, BMAR or MRCP?

BMAR charges 0.79% a year and MRCP charges 0.50%, so MRCP is cheaper. Fees come from each fund's prospectus.

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BMAR vs MRCP: Cap, Buffer & Days Left

As of Oct 13, 2026 BMAR can fall 9.8% before its buffer engages and MRCP 8.8%. Net assets on Oct 13, 2026: $207m for Innovator U.S. Equity Buffer ETF - Mar and $30m for PGIM S&P 500 Buffer 12 ETF - March.

MRCP costs 0.29 points a year less; their one-year returns differ by 1.9 points; BMAR is 6.8 times larger.

Points (pts) are percentage points.

BMAR vs MRCP: Cap, Buffer & Days Left
	BMAR	MRCP
Expense ratio	0.79%	0.50%
Net assets	$207m	$30m
Total return, 1 year	+16.2%	+14.3%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	11.8%

9.8%

BMAR can fall this far before its buffer

8.8%

MRCP can fall this far before its buffer

5.5%

BMAR can still gain

4.5%

MRCP can still gain

BMARBetween buffer and cap

BMAR: reference +13.4% since period start, fund +10.3%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Figures to Oct 13, 2026.

MRCPBetween buffer and cap

MRCP: reference +13.4% since period start, fund +9.1%; buffer 0 to −12; cap +14.5%; Between buffer and cap. Figures to Oct 13, 2026.

ETFIQ Downside Cover Score · MRCP scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

BMAR 20

MRCP 54.1

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; MRCP runs to Feb 28, 2027, 138 days. BMAR can still gain 5.5% before its cap, MRCP 4.5%. A fall from here reaches BMAR’s buffer after 9.8% and MRCP’s after 8.8%. 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 MRCP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	BMAR	MRCP	BMAR	MRCP
3 months	+3.3%	+3.0%	−0.2 pts	−0.5 pts
6 months	+8.9%	+7.8%	−3.1 pts	−4.3 pts
1 year	+16.2%	+14.3%	−1.1 pts	−3.0 pts
3 years	+63.4%	not published	−16.9 pts	not published
Since launch Not the same days: BMAR Mar 2020 · MRCP Mar 2024	+123.8%	+41.3%	−27.9 pts	−10.4 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

MRCP

PGIM S&P 500 Buffer 12 ETF - March · Absorbs the first 12% of loss on SPY and caps the gain at 14.5%, over a period ending Feb 28, 2027

Issuer Innovator PGIM

Reference index SPY SPY

Buffer 9% 12%

Outcome period Feb 28, 2026 to Feb 28, 2027 Mar 1, 2026 to Feb 28, 2027

Days left 138 138

Starting cap +17.0% +14.5%

Can still gain 5.5% 4.5%

Fall before buffer 9.8% 8.8%

Protection left, index points 9.0% of 9.0% 12.0% of 12.0%

Index return this period +13.4% +13.4%

Fund return this period +10.3% +9.1%

State today Open Open

Expense ratio 0.79% 0.50%

Net assets $207m $30m

As of Oct 13, 2026. Source: ETFIQ.

About BMAR

From its price on Oct 13, 2026, the fund can gain about 5.5% 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 11.8% 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 MRCP

From its price on Oct 13, 2026, the fund can gain about 4.5% more before it reaches its cap. The fund's price can fall 8.8% from here before the buffer starts absorbing losses, by the issuer's figure. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level.

Questions people ask

Which has more room to gain, BMAR or MRCP?: From their prices on Oct 13, 2026, BMAR can gain about 5.5% before its cap and MRCP about 4.5%, so BMAR has more room left this period.
Which resets first, BMAR or MRCP?: BMAR ends its outcome period on Feb 28, 2027 and MRCP on Feb 28, 2027. A new cap is set the day after each.
Which is cheaper, BMAR or MRCP?: BMAR charges 0.79% a year and MRCP charges 0.50%, so MRCP is cheaper. Fees come from each fund's prospectus.

Other comparisons

BMAR vs DDTM BMAR vs MARW BMAR vs PMMR BMAR vs DFEB MRCP vs UMAR MRCP vs ZMAR MRCP vs DFEB MRCP vs DLFE

SPY →BMAR on its own →MRCP 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 ↗MRCP filings on SEC EDGAR ↗PGIM website ↗

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 MRCP, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/bmar-vs-mrcp

Open data

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