Data as of Nov 4, 2026.
CMAY vs UMAY: Cap, Buffer & Days Left
UMAY can fall 9.6% before its buffer engages as of Nov 4, 2026, and CMAY 4.7% as of Nov 3, 2026.
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Net assets on Nov 4, 2026: $1.2m for Corgi U.S. Equities 15% Structured Buffer ETF - May Series and $84m for Innovator U.S. Equity Ultra Buffer ETF - May.
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.
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.UMAY: reference +6.7% since period start, fund +4.7%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Data to Nov 4, 2026.
UMAY: reference +6.7% since period start, fund +4.7%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
CMAY costs 0.49 points a year less; UMAY is far larger, $84m against $1.2m.
Points (pts) are percentage points.
| Measure | CMAY | UMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +8.5% |
| Drawdown | ||
| Index fall to the buffer | 4.7% | 10.9% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.30% | 0.79% |
| Net assets | $1.2m | $84m |
| 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 8, 2026 to Oct 30, 2026 · 25 weekly returnsFrom May 2026 to Oct 2026, UMAY returned more: +2.8% to +2.2%. CMAY and UMAY fell about the same at their worst: −1.2% and −1.2%.
Full scorecard
3 measures, with how each is measured Open ↓
| Measure | CMAY | UMAY | Edge | How it is measured |
|---|---|---|---|---|
| Return | ||||
| Total return | +2.2% | +2.8% | UMAY | Price change plus distributions, reinvested. |
| Price return | +2.2% | +2.8% | UMAY | Price change alone, distributions left out. |
| Risk | ||||
| Max drawdown | −1.2% | −1.2% | Tie | Deepest fall from a high to the low after it. |
Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 25 weekly returns. Cash rate: the 13-week Treasury bill.
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CMAY | UMAY | CMAY | UMAY |
| 3 months | +0.7% | +1.2% | +1.1 pts | +1.5 pts |
| 6 months | +3.3% | +3.7% | −1.2 pts | −0.8 pts |
| 1 year | – | +8.5% | – | −5.1 pts |
| 3 years | – | +39.4% | – | −37.0 pts |
| Since launchNot the same days: CMAY May 2026 · UMAY May 2020 | +3.9% | +53.3% | −2.5 pts | −117.8 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.
Where each one stands today
UMAY resets first, on Apr 30, 2027, 177 days from now; CMAY runs to Apr 30, 2027, 178 days. A fall from here reaches CMAY’s buffer after 4.7% and UMAY’s after 9.6%. Both track SPY, so what separates them is where each is in its own period.
No client brief for this pair: ETFIQ prints no one-year total return for CMAY.
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.
UMAY
From its price on Nov 4, 2026, the fund can gain about 7.1% more before it reaches its cap. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level. 177 days remained on Nov 4, 2026.
Questions people ask
Links are sources, not endorsements. A comparison is not a recommendation.
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.
Cite this pageCitation, APA and Markdown
ETFIQ, CMAY against UMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/cmay-vs-umay
ETFIQ. (Nov 4, 2026). CMAY against UMAY. Retrieved from https://etfiq.com/compare/buffer/cmay-vs-umay
[CMAY against UMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/cmay-vs-umay)
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