Which resets first, CTMA or XAPR?

CTMA ends its outcome period on Apr 30, 2027 and XAPR on Apr 16, 2027. A new cap is set the day after each.

Which is cheaper, CTMA or XAPR?

CTMA charges 0.30% a year and XAPR charges 0.85%, so CTMA is cheaper. Fees come from each fund's prospectus.

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CTMA vs XAPR: Cap, Buffer & Days Left

CTMA can fall 7.0% before its buffer engages as of Oct 12, 2026, and XAPR 5.7% as of Oct 13, 2026. Net assets on Oct 12, 2026: $2m for Corgi U.S. Equities 30% Structured Buffer ETF - May Series and $52m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - April.

CTMA costs 0.55 points a year less; XAPR is far larger, $52m against $2m.

Points (pts) are percentage points.

CTMA vs XAPR: Cap, Buffer & Days Left
	CTMA	XAPR
Expense ratio	0.30%	0.85%
Net assets, as of Oct 12, 2026	$2m	$52m
Total return, 1 year	not published	+8.7%
What it tracks	SPY	SPY
Holdings in common	not published
Index fall to the buffer	7.0%	8.6%

CTMABetween buffer and cap

CTMA: reference +7.5% since period start, fund +4.4%; buffer 0 to −30; cap +11.5%; Between buffer and cap. Figures to Oct 12, 2026.

XAPRBetween buffer and cap

XAPR: reference +9.4% since period start, fund +5.2%; buffer 0 to −15; cap +10.4%; Between buffer and cap. Figures to Oct 13, 2026.

These are two different products. XAPR is a floor fund, which caps how far a holder can fall. CTMA is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Where each one stands today

XAPR resets first, on Apr 16, 2027, 185 days from now; CTMA runs to Apr 30, 2027, 200 days. A fall from here reaches CTMA’s buffer after 7.0% and XAPR’s after 5.7%. Both track SPY, so what separates them is where each is in its own period.

Performance, window by window

Performance, window by window: CTMA vs XAPR: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	CTMA	XAPR	CTMA	XAPR
3 months	+2.2%	+2.7%	−1.6 pts	−1.2 pts
6 months	not published	+5.1%	not published	−8.3 pts
1 year	not published	+8.7%	not published	−10.5 pts
Since launch Not the same days: CTMA May 2026 · XAPR Apr 2024	+3.0%	+29.9%	−3.0 pts	−25.8 pts

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

On the same fields

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

XAPR

FT Vest U.S. Equity Enhance & Moderate Buffer ETF - April · Absorbs the first 15% of loss on SPY and caps the gain at 10.4%, over a period ending Apr 16, 2027

Issuer Corgi First Trust

Reference index SPY SPY

Buffer 30% 15%

Outcome period May 1, 2026 to Apr 30, 2027 Apr 20, 2026 to Apr 16, 2027

Days left 200 185

Starting cap +11.5% +10.4%

Can still gain not published 4.2%

Fall before buffer 7.0% 5.7%

Protection left, index points 30.0% of 30.0% 15.0% of 15.0%

Index return this period +7.5% +9.4%

Fund return this period +4.4% +5.2%

State today Open Open

Expense ratio 0.30% 0.85%

Net assets, as of Oct 12, 2026 $2m $52m

As of Oct 13, 2026. Source: ETFIQ.

About CTMA

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. 200 days remained on Oct 12, 2026. On Apr 30, 2027 the period ends and a new cap is set.

About XAPR

From its price on Oct 13, 2026, the fund can gain about 4.2% more before it reaches its cap. The fund's price can fall 5.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 8.6% 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. 185 days remained on Oct 13, 2026. On Apr 16, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, CTMA or XAPR?: CTMA ends its outcome period on Apr 30, 2027 and XAPR on Apr 16, 2027. A new cap is set the day after each.
Which is cheaper, CTMA or XAPR?: CTMA charges 0.30% a year and XAPR charges 0.85%, so CTMA is cheaper. Fees come from each fund's prospectus.

Other comparisons

CTMA vs MAYU CTMA vs PBMY CTMA vs UMAY CTMA vs MAYW XAPR vs MAYC XAPR vs HMAY XAPR vs MAYP XAPR vs DDTY

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

Where these figures came from

CTMA filings on SEC EDGAR ↗Corgi website ↗XAPR filings on SEC EDGAR ↗First Trust page for XAPR ↗

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, CTMA against XAPR, data as of Oct 13, 2026. https://etfiq.com/compare/buffer/ctma-vs-xapr

Open data

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