Which resets first, CMAY or PMMY?

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

Which is cheaper, CMAY or PMMY?

CMAY charges 0.30% a year and PMMY charges 0.50%, so CMAY is cheaper. Fees come from each fund's prospectus.

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CMAY vs PMMY: Cap, Buffer & Days Left

As of Oct 13, 2026 CMAY can fall 7.6% before its buffer engages and PMMY 2.9%. Net assets on Oct 13, 2026: $2m for Corgi U.S. Equities 15% Structured Buffer ETF - May Series and $5m for PGIM S&P 500 Max Buffer ETF - May.

CMAY costs 0.20 points a year less; PMMY is 3.0 times larger.

Points (pts) are percentage points.

CMAY vs PMMY: Cap, Buffer & Days Left
	CMAY	PMMY
Expense ratio	0.30%	0.50%
Net assets	$2m	$5m
Total return, 1 year	not published	+5.2%
What it tracks	SPY	SPY
Holdings in common	not published

CMAYBetween buffer and cap

CMAY: reference +8.3% since period start, fund +5.3%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Figures to Oct 13, 2026.

PMMYAt its cap

PMMY: reference +8.3% since period start, fund +2.4%; buffer Floor; cap +7.0%; At its cap. Figures to Oct 13, 2026.

Figures to Oct 13, 2026.

These are two different products. PMMY 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.

PMMY is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

CMAY resets first, on Apr 30, 2027, 199 days from now; PMMY runs to Apr 30, 2027, 199 days. A fall from here reaches CMAY’s buffer after 7.6% and PMMY’s after 2.9%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: CMAY vs PMMY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	CMAY	PMMY	CMAY	PMMY
3 months	+2.3%	+1.5%	−1.2 pts	−2.0 pts
6 months	not published	+2.6%	not published	−9.4 pts
1 year	not published	+5.2%	not published	−12.1 pts
Since launch Not the same days: CMAY May 2026 · PMMY May 2025	+4.3%	+8.7%	−3.7 pts	−30.6 pts

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

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

PMMY

PGIM S&P 500 Max Buffer ETF - May · Absorbs the whole loss on SPY and caps the gain at 7.0%, over a period ending Apr 30, 2027

Issuer Corgi PGIM

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 199 199

Starting cap +11.0% +7.0%

Can still gain not published 4.0%

Fall before buffer 7.6% 2.9%

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

Index return this period +8.3% +8.3%

Fund return this period +5.3% +2.4%

State today Open At cap

Expense ratio 0.30% 0.50%

Net assets $2m $5m

As of Oct 13, 2026. Source: ETFIQ.

About CMAY

The fund's price can fall 7.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 7.6% 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. 199 days remained on Oct 13, 2026. On Apr 30, 2027 the period ends and a new cap is set.

About PMMY

SPY had already risen past this fund's cap of +7.0% for the period on Oct 13, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.0% as the period runs out. The fund's price can fall 2.9% from here before the buffer starts absorbing losses, by the issuer's figure. 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 PMMY?: CMAY ends its outcome period on Apr 30, 2027 and PMMY on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, CMAY or PMMY?: CMAY charges 0.30% a year and PMMY charges 0.50%, so CMAY is cheaper. Fees come from each fund's prospectus.

Other comparisons

CMAY vs HMAY CMAY vs MAYC CMAY vs CTMA CMAY vs APXM PMMY vs CTMA PMMY vs CPSP PMMY vs DDTY PMMY vs XAPR

SPY →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →CMAY on its own →PMMY on its own →How every figure is computed →Standards and sources →

Where these figures came from

CMAY filings on SEC EDGAR ↗Corgi website ↗PMMY filings on SEC EDGAR ↗PGIM website ↗

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 pageCitation, APA and Markdown

ETFIQ, CMAY against PMMY, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/cmay-vs-pmmy

Open data

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