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CMAY vs DDFY: Cap, Buffer & Days Left

As of Oct 9, 2026 CMAY can fall 7.7% before its buffer engages and DDFY 4.8%. Net assets on Oct 9, 2026: $2m for Corgi U.S. Equities 15% Structured Buffer ETF - May Series and $77m for Innovator Equity Dual Directional 15 Buffer ETF - May.

CMAY costs 0.49 points a year less; DDFY is far larger, $77m against $2m.

CMAYDDFY
Expense ratio0.30%0.79%
Net assets$2m$77m
What it tracksSPYSPY
Holdings in commonnot published
CMAYBetween buffer and cap
Between buffer and capCMAY: reference +8.3% since period start, fund +5.2%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Figures to Oct 9, 2026.15 pts of buffer+8.3% gain captured−15.0% floor0% period start+11.0% cap+2.7% more to the capTODAY · SPY +8.3%Between buffer and capCMAY: reference +8.3% since period start, fund +5.2%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Figures to Oct 9, 2026.15 pts of buffer+8.3%−15.0% floor0% start+11.0% cap+2.7% more to the capTODAY · SPY +8.3%

CMAY: reference +8.3% since period start, fund +5.2%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Figures to Oct 9, 2026.

CMAY: reference +8.3% since period start, fund +5.2%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Figures to Oct 9, 2026.

DDFYBetween buffer and cap
Between buffer and capDDFY: reference +8.3% since period start, fund +4.7%; buffer 0 to −15; cap +10.5%; Between buffer and cap. Figures to Oct 9, 2026.15 pts of buffer+8.3% gain captured−15.0% floor0% period start+10.5% cap+2.2% more to the capTODAY · SPY +8.3%Between buffer and capDDFY: reference +8.3% since period start, fund +4.7%; buffer 0 to −15; cap +10.5%; Between buffer and cap. Figures to Oct 9, 2026.15 pts of buffer+8.3%−15.0% floor0% start+10.5% cap+2.2% more to the capTODAY · SPY +8.3%

DDFY: reference +8.3% since period start, fund +4.7%; buffer 0 to −15; cap +10.5%; Between buffer and cap. Figures to Oct 9, 2026.

Figures to Oct 9, 2026.

These are two different products. DDFY is a floor fund, which caps how far a holder can fall. CMAY 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

CMAY resets first, on Apr 30, 2027, 203 days from now; DDFY runs to Apr 30, 2027, 203 days. A fall from here reaches CMAY’s buffer after 7.7% and DDFY’s after 4.8%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Total returnGap to the reference's price return
WindowCMAYDDFYCMAYDDFY
3 months+2.0%+2.4%−1.1 pts−0.7 pts

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

On the same fields

CMAY
Corgi U.S. Equities 15% Structured Buffer ETF - May Series · Absorbs the first 15% of loss on SPY and caps the gain at 11.0%, over a period ending Apr 30, 2027
DDFY
Innovator Equity Dual Directional 15 Buffer ETF - May · Absorbs the first 15% of loss on SPY and caps the gain at 10.5%, over a period ending Apr 30, 2027
Issuer Corgi Innovator
Reference index SPY SPY
Buffer 15% 15%
Outcome period May 1, 2026 to Apr 30, 2027 Apr 30, 2026 to Apr 30, 2027
Days left 203 203
Starting cap +11.0% +10.5%
Can still gain not published 5.2%
Fall before buffer 7.7% 4.8%
Protection left, index points 15.0% of 15.0% 15.0% of 15.0%
Index return this period +8.3% +8.3%
Fund return this period +5.2% +4.7%
State today Open Open
Expense ratio 0.30% 0.79%
Net assets $2m $77m

As of Oct 9, 2026. Source: ETFIQ.

CMAY in plain words

The fund's price can fall 7.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 7.7% 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. 203 days remained on Oct 9, 2026. On Apr 30, 2027 the period ends and a new cap is set.

DDFY in plain words

From its price on Oct 9, 2026, the fund can gain about 5.2% more before it reaches its cap. The fund's price can fall 4.8% from here before the buffer starts absorbing losses, by the issuer's figure.

Questions people ask

Which resets first, CMAY or DDFY?
CMAY ends its outcome period on Apr 30, 2027 and DDFY on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, CMAY or DDFY?
CMAY charges 0.30% a year and DDFY charges 0.79%, so CMAY is cheaper. Fees come from each fund's prospectus.
Other comparisons
CMAY vs CPSMCMAY vs XAPRCMAY vs MAYUCMAY vs PBMYDDFY vs CTMADDFY vs MAYCDDFY vs HMAYDDFY vs PMMY
SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →CMAY on its own →DDFY on its own →How every figure is computed →Standards and sources →
Where these figures came from
CMAY filings on SEC EDGAR ↗Corgi website ↗DDFY filings on SEC EDGAR ↗Innovator page for DDFY ↗

ETFIQ links to the documents behind every figure; a link is not an endorsement. A comparison is not a recommendation.

How this is computed

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 page

ETFIQ, CMAY against DDFY, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/cmay-vs-ddfy

Open data

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