Data as of Nov 4, 2026.
BMAR vs XFEB: Cap, Buffer & Days Left
As of Nov 4, 2026 BMAR can fall 9.4% before its buffer engages and XFEB 7.2%, and XFEB resets 9 days sooner.
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Net assets: $203m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - Mar, and $61m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - February.
BMAR: reference +11.7% since period start, fund +9.8%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Data to Nov 4, 2026.
BMAR: reference +11.7% since period start, fund +9.8%; buffer 0 to −9; cap +17.0%; Between buffer and cap. Data to Nov 4, 2026.XFEB: reference +11.2% since period start, fund +6.8%; buffer 0 to −15; cap +10.3%; At its cap. Data to Nov 4, 2026.
XFEB: reference +11.2% since period start, fund +6.8%; buffer 0 to −15; cap +10.3%; At its cap. Data to Nov 4, 2026.Pair scorecard
BMAR costs 0.06 points a year less; their one-year returns differ by 5.0 points; BMAR is 3.3 times larger.
Points (pts) are percentage points.
| Measure | BMAR | XFEB |
|---|---|---|
| Return | ||
| Total return, 1 year | +14.6% | +9.6% |
| Drawdown | ||
| Index fall to the buffer | 10.5% | 10.1% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.85% |
| Net assets, as of Nov 3, 2026 | $200m | $61m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BMAR | XFEB | BMAR | XFEB |
| 3 months | +1.2% | +1.6% | +1.6 pts | +2.0 pts |
| 6 months | +4.9% | +4.1% | +0.4 pts | −0.4 pts |
| 1 year | +14.6% | +9.6% | +1.1 pts | −4.0 pts |
| 3 years | +61.5% | – | −14.9 pts | – |
| Since launchNot the same days: BMAR Mar 2020 · XFEB Feb 2024 | +122.7% | +28.7% | −25.4 pts | −25.7 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.
These are two different products. XFEB is a floor fund, which caps how far a holder can fall. BMAR is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
XFEB is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
XFEB resets first, on Feb 19, 2027, 107 days from now; BMAR runs to Feb 28, 2027, 116 days. BMAR can still gain 6.0% before its cap, XFEB 2.4%. A fall from here reaches BMAR’s buffer after 9.4% and XFEB’s after 7.2%. Both track SPY, so what separates them is where each is in its own period.
BMAR
From its price on Nov 4, 2026, the fund can gain about 6.0% more before it reaches its cap. The fund's price can fall 9.4% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.5% 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. 116 days remained on Nov 4, 2026. On Feb 28, 2027 the period ends and a new cap is set.
XFEB
SPY had already risen past this fund's cap of +10.3% 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 2.4% as the period runs out. The fund's price can fall 7.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.1% 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. 107 days remained on Nov 4, 2026. On Feb 19, 2027 the period ends and a new cap is set.
Questions people ask
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How this is computed
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, BMAR against XFEB, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bmar-vs-xfeb
ETFIQ. (Nov 4, 2026). BMAR against XFEB. Retrieved from https://etfiq.com/compare/buffer/bmar-vs-xfeb
[BMAR against XFEB (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bmar-vs-xfeb)
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