Data as of Nov 4, 2026.
BMAY vs MAYT: Cap, Buffer & Days Left
As of Nov 4, 2026 MAYT can fall 6.2% before its buffer engages and BMAY 5.9%.
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Net assets: $182m on Nov 4, 2026 for Innovator U.S. Equity Buffer ETF - May, and $161m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - May.
BMAY: reference +6.7% since period start, fund +5.8%; buffer 0 to −9; cap +16.9%; Between buffer and cap. Data to Nov 4, 2026.
BMAY: reference +6.7% since period start, fund +5.8%; buffer 0 to −9; cap +16.9%; Between buffer and cap. Data to Nov 4, 2026.MAYT: reference +6.7% since period start, fund +5.7%; buffer 0 to −10; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.
MAYT: reference +6.7% since period start, fund +5.7%; buffer 0 to −10; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
MAYT costs 0.05 points a year less; their one-year returns differ by 0.2 points; BMAY is 1.1 times larger.
Points (pts) are percentage points.
| Measure | BMAY | MAYT |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.9% | +10.7% |
| Drawdown | ||
| Index fall to the buffer | 6.2% | 6.3% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.74% |
| Net assets, as of Nov 3, 2026 | $180m | $161m |
| 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 →
Risk and return
May 12, 2023 to Oct 30, 2026 · 181 weekly returns · each against SPYFrom May 2023 to Oct 2026, BMAY returned slightly more: +61.2% to +59.9%. MAYT swung slightly less: 8.4% to 8.8%. MAYT fell slightly less at its worst: −10.8% to −11.3%.
Full scorecard
19 measures, with how each is measured Open ↓
| Measure | BMAY | MAYT | SPY | Edge | How it is measured |
|---|---|---|---|---|---|
| Return | |||||
| Total return | +61.2% | +59.9% | BMAY (slight) | Price change plus distributions, reinvested. | |
| Annualized | +14.7% | +14.4% | Tie | Total return as a yearly rate. | |
| Price return | +61.2% | +59.9% | BMAY (slight) | Price change alone, distributions left out. | |
| Risk | |||||
| Volatility | 8.8% | 8.4% | MAYT (slight) | Spread of weekly returns, annualized. Lower is steadier. | |
| Downside deviation | 5.8% | 5.6% | MAYT (slight) | Like volatility, counting only weeks below the Treasury bill rate. | |
| Max drawdown | −11.3% | −10.8% | MAYT (slight) | Deepest fall from a high to the low after it. | |
| Upside capture | 49.1% | 46.6% | 100.0% | BMAY (slight) | Share of its benchmark's rise caught in the weeks it rose. |
| Downside capture | 58.9% | 55.8% | 100.0% | MAYT (slight) | Share of its benchmark's fall taken in the weeks it fell. Lower is better. |
| Beta | 0.59 | 0.57 | 1.00 | MAYT lower | How far it moves for each 1% its benchmark moves. |
| R squared | 0.89 | 0.88 | 1.00 | Not an edge | Share of its weekly moves its benchmark explains. |
| Risk-adjusted | |||||
| Sharpe | 1.09 | 1.10 | Tie | Return above Treasury bills per unit of volatility. | |
| Sortino | 1.64 | 1.67 | Tie | Return above Treasury bills per unit of downside deviation. | |
| Treynor | 0.161 | 0.164 | 0.151 | Tie | Return above Treasury bills per unit of beta. |
| Calmar | 1.30 | 1.34 | MAYT (slight) | Annualized return divided by the max drawdown. | |
| Against the benchmark | |||||
| Benchmark | SPY | SPY | SPY | The ETF each fund is measured against. | |
| Alpha | +0.6% a year | +0.7% a year | 0.0% | Not significant | Yearly return beyond what its beta to the benchmark predicts. |
| Alpha t-stat | 0.37 | 0.44 | Not an edge | How sure the alpha is. Below 2, it could be chance. | |
| Alpha range | −2.5% to +3.7% | −2.4% to +3.8% | Both include zero | The 95% range for the yearly alpha. | |
| Information ratio | −0.88 | −0.87 | Tie | Return against its benchmark per unit of tracking error. | |
| Tracking error | 6.4% | 6.7% | 0.0% | Not an edge | How far weekly returns stray from the benchmark, annualized. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 181 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BMAY | MAYT | BMAY | MAYT |
| 3 months | +0.8% | +1.1% | +1.2 pts | +1.5 pts |
| 6 months | +4.5% | +4.5% | 0.0 pts | 0.0 pts |
| 1 year | +10.9% | +10.7% | −2.6 pts | −2.9 pts |
| 3 years | +54.8% | +53.6% | −21.6 pts | −22.8 pts |
| Since launchNot the same days: BMAY May 2020 · MAYT May 2023 | +93.8% | +60.4% | −77.4 pts | −24.2 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
Where each one stands today
BMAY resets first, on Apr 30, 2027, 177 days from now; MAYT runs to Apr 30, 2027, 177 days. BMAY can still gain 10.1% before its cap, MAYT 9.3%. A fall from here reaches BMAY’s buffer after 5.9% and MAYT’s after 6.2%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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BMAY
From its price on Nov 4, 2026, the fund can gain about 10.1% more before it reaches its cap. The fund's price can fall 5.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.2% 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. 177 days remained on Nov 4, 2026. On Apr 30, 2027 the period ends and a new cap is set.
MAYT
From its price on Nov 4, 2026, the fund can gain about 9.3% more before it reaches its cap. The fund's price can fall 6.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.3% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level.
Questions people ask
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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, BMAY against MAYT, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bmay-vs-mayt
ETFIQ. (Nov 4, 2026). BMAY against MAYT. Retrieved from https://etfiq.com/compare/buffer/bmay-vs-mayt
[BMAY against MAYT (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bmay-vs-mayt)
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