Data as of Nov 4, 2026.
BMAY vs PMMY: Cap, Buffer & Days Left
As of Nov 4, 2026 BMAY can fall 5.9% before its buffer engages and PMMY 2.9%.
askIQ about this page
askIQ about BMAY and PMMY
Net assets on Nov 4, 2026: $182m for Innovator U.S. Equity Buffer ETF - May and $5.4m for PGIM S&P 500 Max Buffer 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.PMMY: reference +6.7% since period start, fund +2.5%; buffer Floor; cap +7.0%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
PMMY costs 0.29 points a year less; their one-year returns differ by 5.8 points; BMAY is far larger, $182m against $5.4m.
Points (pts) are percentage points.
| Measure | BMAY | PMMY |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.9% | +5.1% |
| Drawdown | ||
| Index fall to the buffer | 6.2% | 6.3% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.79% | 0.50% |
| Net assets | $182m | $5.4m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | BMAY | PMMY | BMAY | PMMY |
| 3 months | +0.8% | +1.0% | +1.2 pts | +1.4 pts |
| 6 months | +4.5% | +2.3% | 0.0 pts | −2.2 pts |
| 1 year | +10.9% | +5.1% | −2.6 pts | −8.5 pts |
| 3 years | +54.8% | – | −21.6 pts | – |
| Since launchNot the same days: BMAY May 2020 · PMMY May 2025 | +93.8% | +8.8% | −77.4 pts | −28.5 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.
These are two different products. PMMY is a floor fund, which caps how far a holder can fall. BMAY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Where each one stands today
BMAY resets first, on Apr 30, 2027, 177 days from now; PMMY runs to Apr 30, 2027, 177 days. BMAY can still gain 10.1% before its cap, PMMY 3.9%. A fall from here reaches BMAY’s buffer after 5.9% and PMMY’s after 2.9%. Both track SPY, so what separates them is where each is in its own period.
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.
PMMY
From its price on Nov 4, 2026, the fund can gain about 3.9% more before it reaches its cap. The fund's price can fall 2.9% 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: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
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.
Cite this pageCitation, APA and Markdown
ETFIQ, BMAY against PMMY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/bmay-vs-pmmy
ETFIQ. (Nov 4, 2026). BMAY against PMMY. Retrieved from https://etfiq.com/compare/buffer/bmay-vs-pmmy
[BMAY against PMMY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/bmay-vs-pmmy)
Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.