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Data as of Nov 4, 2026.

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Buffer ETFs

DMAY vs PBJN: Cap, Buffer & Days Left

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As of Nov 4, 2026 DMAY can fall 8.7% before its buffer engages and PBJN 2.5%, and DMAY resets 10 days sooner.

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Net assets: $390m on Nov 3, 2026 for FT Vest U.S. Equity Deep Buffer ETF - May, and $59m on Nov 4, 2026 for PGIM S&P 500 Buffer 20 ETF - June .

DMAY on its own →PBJN on its own →
At a glance
8.7%
DMAY can fall this far before its buffer
2.5%
PBJN can fall this far before its buffer
9.3%
DMAY can still gain
9.3%
PBJN can still gain
DMAY Between buffer and cap
Between buffer and capDMAY: reference +3.7% since period start, fund +3.1%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer+3.7%+9.8% to cap−30.0% floor−5.0% buffer start0% period start+13.6% capfirst 5 pts are yours to loseTODAY · SPY +3.7%Between buffer and capDMAY: reference +3.7% since period start, fund +3.1%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Nov 4, 2026.25 pts of buffer−30.0% floor−5.0% buffer start0% start+13.6% capfirst 5 pts are yours to lose+3.7% gain captured+9.8% more to the capTODAY · SPY +3.7%

DMAY: reference +3.7% since period start, fund +3.1%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Nov 4, 2026.

DMAY: reference +3.7% since period start, fund +3.1%; buffer −5 to −30; cap +13.6%; Between buffer and cap. Data to Nov 4, 2026.
PBJN Between buffer and cap
Between buffer and capPBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.20 pts of buffer+10.7% more to the cap−20.0% floor0% period start+12.1% cap+1.4% gain capturedTODAY · SPY +1.4%Between buffer and capPBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.20 pts−20.0% floor0% start+12.1% cap+1.4% gain captured+10.7% more to the capTODAY · SPY +1.4%

PBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.

PBJN: reference +1.4% since period start, fund +2.0%; buffer 0 to −20; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PBJN costs 0.35 points a year less; their one-year returns differ by 1.3 points; DMAY is 6.6 times larger.

Points (pts) are percentage points.

DMAY vs PBJN: Cap, Buffer & Days Left
MeasureDMAYPBJN
Return
Total return, 1 year+8.3%+7.0%
Drawdown
Index fall to the buffer8.4%1.4%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.50%
Net assets, as of Nov 3, 2026$390m$59m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · PBJN scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score51.2DMAY95.7PBJN

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

0.3, the lowest in this set 99.7, the highest

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 →

Method

Window by window

Window by window: DMAY vs PBJN: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowDMAYPBJNDMAYPBJN
3 months+0.5%+0.6%+0.9 pts+1.0 pts
6 months+3.2%+2.4%−1.3 pts−2.1 pts
1 year+8.3%+7.0%−5.2 pts−6.6 pts
3 years+40.5%–−35.9 pts–
Since launchNot the same days: DMAY May 2020 · PBJN Jun 2024+56.5%+25.9%−103.4 pts−19.3 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

DMAY FT Vest U.S. Equity Deep Buffer ETF - May · Absorbs losses from 5.0% to 30.0% on SPY and caps the gain at 13.6%, over a period ending May 21, 2027 PBJN PGIM S&P 500 Buffer 20 ETF - June · Absorbs the first 20% of loss on SPY and caps the gain at 12.1%, over a period ending May 31, 2027
Issuer First Trust PGIM
Reference index SPY SPY
Buffer 5% to 30% 20%
Outcome period May 18, 2026 to May 21, 2027 Jun 1, 2026 to May 31, 2027
Days left 198 208
Starting cap +13.6% +12.1%
Can still gain 9.3% 9.3%
Fall before buffer 8.7% 2.5%
Protection left, index points 25.0% of 25.0% 20.0% of 20.0%
Index return this period +3.7% +1.4%
Fund return this period +3.1% +2.0%
State today Open Open
Expense ratio 0.85% 0.50%
Net assets, DMAY as of Nov 3, 2026 and PBJN as of Nov 4, 2026 $390m $59m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

DMAY resets first, on May 21, 2027, 198 days from now; PBJN runs to May 31, 2027, 208 days. DMAY can still gain 9.3% before its cap, PBJN 9.3%. A fall from here reaches DMAY’s buffer after 8.7% and PBJN’s after 2.5%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
DMAY

From its price on Nov 4, 2026, the fund can gain about 9.3% more before it reaches its cap. The fund's price can fall 8.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 8.4% from today's level to the point where the buffer begins. Protection left, in index points: 25.0% of the 25.0% buffer still sits below today's SPY level. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.

PBJN

The fund's price can fall 2.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, DMAY or PBJN?
From their prices on Nov 4, 2026, DMAY can gain about 9.3% before its cap and PBJN about 9.3%, so the two have the same room left this period.
Which resets first, DMAY or PBJN?
DMAY ends its outcome period on May 21, 2027 and PBJN on May 31, 2027. A new cap is set the day after each.
Which is cheaper, DMAY or PBJN?
DMAY charges 0.85% a year and PBJN charges 0.50%, so PBJN is cheaper. Fees come from each fund's prospectus.
Other comparisons
DMAY vs CPSMDMAY vs MAYMDMAY vs JUNPDMAY vs JUNTPBJN vs UJUNPBJN vs PJUNPBJN vs FMAYPBJN vs JUNC
Where to next
State Street® SPDR® S&P 500® ETF Trust →DMAY on its own →PBJN on its own →Method →Standards and sources →
Sources and dates
DMAY filings on SEC EDGAR ↗
First Trust page for DMAY ↗
PBJN filings on SEC EDGAR ↗
PGIM website ↗

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, DMAY against PBJN, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/dmay-vs-pbjn

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