Data as of Nov 4, 2026.
CTMA vs FAPR: Cap, Buffer & Days Left
FAPR can fall 6.7% before its buffer engages as of Nov 4, 2026, and CTMA 4.1% as of Nov 3, 2026.
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Net assets: $1.7m on Nov 4, 2026 for Corgi U.S. Equities 30% Structured Buffer ETF - May Series, and $1.3bn on Nov 3, 2026 for FT Vest U.S. Equity Buffer ETF - April.
CTMA: reference +4.2% since period start, fund +3.1%; buffer 0 to −30; cap +11.5%; Between buffer and cap. Data to Nov 3, 2026.
CTMA: reference +4.2% since period start, fund +3.1%; buffer 0 to −30; cap +11.5%; Between buffer and cap. Data to Nov 3, 2026.FAPR: reference +8.0% since period start, fund +6.3%; buffer 0 to −10; cap +15.2%; Between buffer and cap. Data to Nov 4, 2026.
FAPR: reference +8.0% since period start, fund +6.3%; buffer 0 to −10; cap +15.2%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
CTMA costs 0.55 points a year less; FAPR is far larger, $1.3bn against $1.7m.
Points (pts) are percentage points.
| Measure | CTMA | FAPR |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +10.3% |
| Drawdown | ||
| Index fall to the buffer | 4.1% | 7.4% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.30% | 0.85% |
| Net assets, as of Nov 3, 2026 | $1.7m | $1.3bn |
| 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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CTMA | FAPR | CTMA | FAPR |
| 3 months | +0.8% | +1.1% | +1.2 pts | +1.5 pts |
| 6 months | +2.8% | +4.6% | −1.7 pts | +0.1 pts |
| 1 year | – | +10.3% | – | −3.3 pts |
| 3 years | – | +47.3% | – | −29.1 pts |
| Since launchNot the same days: CTMA May 2026 · FAPR Apr 2021 | +2.8% | +60.4% | −1.7 pts | −24.3 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
FAPR resets first, on Apr 16, 2027, 163 days from now; CTMA runs to Apr 30, 2027, 178 days. A fall from here reaches CTMA’s buffer after 4.1% and FAPR’s after 6.7%. Both track SPY, so what separates them is where each is in its own period.
CTMA
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: 30.0% of the 30.0% 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.
FAPR
From its price on Nov 4, 2026, the fund can gain about 7.5% more before it reaches its cap. The fund's price can fall 6.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.4% 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. 163 days remained on Nov 4, 2026. On Apr 16, 2027 the period ends and a new cap is set.
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.
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ETFIQ, CTMA against FAPR, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ctma-vs-fapr
ETFIQ. (Nov 4, 2026). CTMA against FAPR. Retrieved from https://etfiq.com/compare/buffer/ctma-vs-fapr
[CTMA against FAPR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/ctma-vs-fapr)
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