Which resets first, CMAY or HMAY?

CMAY ends its outcome period on Apr 30, 2027 and HMAY on Apr 30, 2027. A new cap is set the day after each.

Which is cheaper, CMAY or HMAY?

CMAY and HMAY both charge 0.30% a year, so neither is cheaper. Fees come from each fund's prospectus.

Data as of Nov 3, 2026.

Buffer ETFs

CMAY vs HMAY: Cap, Buffer & Days Left

Share on X Download as PDF

As of Nov 3, 2026 CMAY can fall 4.7% before its buffer engages and HMAY 4.1%.

askIQ about this page

askIQ about CMAY and HMAY

Net assets on Nov 4, 2026: $1.2m for Corgi U.S. Equities 15% Structured Buffer ETF - May Series and $1.9m for Corgi U.S. Equities 100% Structured Buffer ETF - May Series.

CMAY on its own →HMAY on its own →

At a glance

CMAY Between buffer and cap

CMAY: reference +5.0% since period start, fund +4.0%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 3, 2026.

HMAY Full floor

HMAY: reference +4.2% since period start, fund +2.0%; buffer Floor; cap +6.5%; Full floor. Data to Nov 3, 2026.

Data to Nov 3, 2026.

Pair scorecard

Both cost 0.30% a year; HMAY is 1.6 times larger.

Points (pts) are percentage points.

CMAY vs HMAY: Cap, Buffer & Days Left
Measure	CMAY	HMAY
Benchmark
Measure	CMAY	HMAY
What it tracks	SPY	SPY
Cost and size
Measure	CMAY	HMAY
Expense ratio	0.30%	0.30%
Net assets, as of Nov 4, 2026	$1.2m	$1.9m
Holdings
Measure	CMAY	HMAY
Holdings in common	not published

Method

Window by window

Window by window: CMAY vs HMAY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	CMAY	HMAY	CMAY	HMAY
3 months	+0.7%	+0.8%	+1.1 pts	+1.1 pts
6 months	+3.3%	+1.3%	−1.2 pts	−3.2 pts
Since launchNot the same days: CMAY May 2026 · HMAY May 2026	+3.9%	+1.3%	−2.5 pts	−3.2 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

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 HMAY Corgi U.S. Equities 100% Structured Buffer ETF - May Series · Absorbs the whole loss on SPY and caps the gain at 6.5%, over a period ending Apr 30, 2027

Issuer Corgi Corgi

Reference index SPY SPY

Buffer 15% 100%

Outcome period May 1, 2026 to Apr 30, 2027 May 1, 2026 to Apr 30, 2027

Days left 178 178

Starting cap +11.0% +6.5%

Can still gain not published not published

Fall before buffer 4.7% 4.1%

Protection left, index points 15.0% of 15.0% 100.0% of 100.0%

Index return this period +5.0% +4.2%

Fund return this period +4.0% +2.0%

State today Open Open

Expense ratio 0.30% 0.30%

Net assets, as of Nov 4, 2026 $1.2m $1.9m

As of Nov 3, 2026. Source: ETFIQ.

These are two different products. HMAY 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.

Both are Corgi funds, so the difference between them is the terms rather than the house.

Where each one stands today

CMAY resets first, on Apr 30, 2027, 178 days from now; HMAY runs to Apr 30, 2027, 178 days. A fall from here reaches CMAY’s buffer after 4.7% and HMAY’s after 4.1%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

CMAY

The fund's price can fall 4.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 4.7% 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. 178 days remained on Nov 3, 2026. On Apr 30, 2027 the period ends and a new cap is set.

HMAY

The fund's price can fall 4.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 4.1% 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

Which resets first, CMAY or HMAY?: CMAY ends its outcome period on Apr 30, 2027 and HMAY on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, CMAY or HMAY?: CMAY and HMAY both charge 0.30% a year, so neither is cheaper. Fees come from each fund's prospectus.

Other comparisons

CMAY vs CTMA CMAY vs MAYC CMAY vs PMMY CMAY vs CPSP HMAY vs MAYC HMAY vs PMMY HMAY vs MAYP HMAY vs PBMY

Where to next

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →CMAY on its own →HMAY on its own →Method →Standards and sources →

Sources and dates

CMAY and HMAY filings on SEC EDGAR ↗

Corgi website ↗

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, CMAY against HMAY, data as of Nov 3, 2026. https://etfiq.com/compare/buffer/cmay-vs-hmay

Open data →

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