Data as of .
CTMA vs FAPR: which one stands where?
As of Sep 21, 2026 FAPR can fall 6.6% before its buffer engages and CTMA 5.0%, and FAPR resets 17 days sooner.
ETFIQ Downside Cover Score: CTMA scores higher
If the market falls into a bear market from here, how much does the buffer absorb?
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it · How it is computed
Where each one stands today
FAPR resets first, on Apr 16, 2027, 207 days from now; CTMA runs to Apr 30, 2027, 224 days. A fall from here reaches CTMA’s buffer after 5.0% and FAPR’s after 6.6%. Both track SPY, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Window | Total return | Gap to the reference | ||
|---|---|---|---|---|
| CTMA | FAPR | CTMA | FAPR | |
| 3 months | +0.9% | +2.2% | −1.3 pts | 0.0 pts |
| 6 months | not published | +7.1% | not published | −10.9 pts |
| 1 year | not published | +10.0% | not published | −6.6 pts |
| 3 years | not published | +44.4% | not published | −34.0 pts |
| CTMA Corgi U.S. Equities 30% Structured Buffer ETF - May Series Absorbs the first 30% of loss on SPY and caps the gain at 11.5%, over a period ending Apr 30, 2027 | FAPR FT Vest U.S. Equity Buffer ETF - April Absorbs the first 10% of loss on SPY and caps the gain at 15.2%, over a period ending Apr 16, 2027 | |
|---|---|---|
| Issuer | Corgi | First Trust |
| Reference index | SPY | SPY |
| Buffer | 30% | 10% |
| Outcome period | May 1, 2026 to Apr 30, 2027 | Apr 20, 2026 to Apr 16, 2027 |
| Days left | 224 | 207 |
| Starting cap | +11.5% | +15.2% |
| Can still gain | not published | 7.7% |
| Fall before buffer | 5.0% | 6.6% |
| Protection left, index points | 30.0% of 30.0% | 10.0% of 10.0% |
| Index return this period | +5.3% | +9.0% |
| Fund return this period | +3.2% | +6.2% |
| State today | Open | Open |
| Expense ratio | 0.30% | 0.85% |
| Net assets | $2m | $1.3bn |
CTMA in plain words
The fund's price can fall 5.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 5.0% 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. 224 days remained on Sep 21, 2026. On Apr 30, 2027 the period ends and a new cap is set.
FAPR in plain words
From its price on Sep 21, 2026, the fund can gain about 7.7% more before it reaches its cap. The fund's price can fall 6.6% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 8.2% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 207 days remained on Sep 21, 2026. On Apr 16, 2027 the period ends and a new cap is set.
Questions people ask
- Which resets first, CTMA or FAPR?
- CTMA ends its outcome period on Apr 30, 2027 and FAPR on Apr 16, 2027. A new cap is set the day after each.
- Which is cheaper, CTMA or FAPR?
- CTMA charges 0.30% a year and FAPR charges 0.85%, so CTMA is cheaper. Fees come from each fund's prospectus.
Other comparisons
Where these figures came from
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement.
Cite this page. ETFIQ, CTMA against FAPR, data as of Sep 21, 2026. https://etfiq.com/compare/buffer/ctma-vs-fapr Free to use with attribution; the underlying files are at Open data.