CTMA vs UMAY: Cap, Buffer & Days Left
As of Oct 9, 2026 UMAY can fall 9.9% before its buffer engages and CTMA 7.0%. Net assets on Oct 9, 2026: $2m for Corgi U.S. Equities 30% Structured Buffer ETF - May Series and $137m for Innovator U.S. Equity Ultra Buffer ETF - May.
CTMA costs 0.49 points a year less; UMAY is far larger, $137m against $2m.
| CTMA | UMAY | |
|---|---|---|
| Expense ratio | 0.30% | 0.79% |
| Net assets | $2m | $137m |
| Total return, 1 year | not published | +8.9% |
| What it tracks | SPY | SPY |
| Holdings in common | not published | |
| Index fall to the buffer | 7.0% | 12.3% |
CTMA: reference +7.6% since period start, fund +4.4%; buffer 0 to −30; cap +11.5%; Between buffer and cap. Figures to Oct 9, 2026.
CTMA: reference +7.6% since period start, fund +4.4%; buffer 0 to −30; cap +11.5%; Between buffer and cap. Figures to Oct 9, 2026.
UMAY: reference +8.3% since period start, fund +5.0%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Figures to Oct 9, 2026.
UMAY: reference +8.3% since period start, fund +5.0%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Figures to Oct 9, 2026.
A percentile among the 292 buffer ETFs on stocks with a live outcome period. 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 → How it is computed →
Where each one stands today
CTMA resets first, on Apr 30, 2027, 203 days from now; UMAY runs to Apr 30, 2027, 203 days. A fall from here reaches CTMA’s buffer after 7.0% and UMAY’s after 9.9%. Both track SPY, so what separates them is where each is in its own period.
Performance, window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | CTMA | UMAY | CTMA | UMAY |
| 3 months | +1.9% | +2.5% | −1.2 pts | −0.6 pts |
| 6 months | not published | +5.2% | not published | −9.4 pts |
| 1 year | not published | +8.9% | not published | −7.1 pts |
| 3 years | not published | +40.4% | not published | −38.8 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
As of Oct 9, 2026. Source: ETFIQ.
CTMA in plain words
The fund's price can fall 7.0% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 7.0% 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. 203 days remained on Oct 9, 2026. On Apr 30, 2027 the period ends and a new cap is set.
UMAY in plain words
From its price on Oct 9, 2026, the fund can gain about 6.8% more before it reaches its cap. The fund's price can fall 9.9% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 12.3% from today's level to the point where the buffer begins.
Questions people ask
ETFIQ links to the documents behind every figure; a link is not an endorsement. 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 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.
ETFIQ, CTMA against UMAY, data as of Oct 9, 2026. https://etfiq.com/compare/buffer/ctma-vs-umay
ETFIQ. (Oct 9, 2026). CTMA against UMAY. Retrieved from https://etfiq.com/compare/buffer/ctma-vs-umay
[CTMA against UMAY (ETFIQ, Oct 9, 2026)](https://etfiq.com/compare/buffer/ctma-vs-umay)
Free to use with attribution for figures ETFIQ computes; issuer data stays under its owner's terms.