Data as of Nov 4, 2026.
FEBM vs MARU: Cap, Buffer & Days Left
As of Nov 4, 2026 MARU can fall 8.2% before its buffer engages and FEBM 4.7%, and FEBM resets 9 days sooner.
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Net assets on Nov 3, 2026: $46m for FT Vest U.S. Equity Max Buffer ETF - February and $35m for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Mar.
FEBM: reference +11.2% since period start, fund +4.1%; buffer 0 to −47; cap +7.0%; At its cap. Data to Nov 4, 2026.
FEBM: reference +11.2% since period start, fund +4.1%; buffer 0 to −47; cap +7.0%; At its cap. Data to Nov 4, 2026.MARU: reference +11.8% since period start, fund +8.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
MARU: reference +11.8% since period start, fund +8.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.Pair scorecard
MARU costs 0.11 points a year less; their one-year returns differ by 2.6 points; FEBM is 1.3 times larger.
Points (pts) are percentage points.
| Measure | FEBM | MARU |
|---|---|---|
| Return | ||
| Total return, 1 year | +6.1% | +8.7% |
| Drawdown | ||
| Index fall to the buffer | 10.1% | 10.5% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.74% |
| Net assets, as of Nov 3, 2026 | $46m | $35m |
| 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 | FEBM | MARU | FEBM | MARU |
| 3 months | +1.0% | −1.2% | +1.4 pts | −0.8 pts |
| 6 months | +2.6% | +2.5% | −1.9 pts | −2.0 pts |
| 1 year | +6.1% | +8.7% | −7.4 pts | −4.9 pts |
| Since launchNot the same days: FEBM Feb 2025 · MARU Mar 2025 | +10.6% | +21.7% | −17.8 pts | −9.7 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
FEBM is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
FEBM resets first, on Feb 19, 2027, 107 days from now; MARU runs to Feb 28, 2027, 116 days. A fall from here reaches FEBM’s buffer after 4.7% and MARU’s after 8.2%. Both track SPY, so what separates them is where each is in its own period.
FEBM
SPY had already risen past this fund's cap of +7.0% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 2.0% as the period runs out. The fund's price can fall 4.7% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.1% from today's level to the point where the buffer begins. Protection left, in index points: 47.3% of the 47.3% buffer still sits below today's SPY level. 107 days remained on Nov 4, 2026. On Feb 19, 2027 the period ends and a new cap is set.
MARU
This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 8.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.5% 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. 116 days remained on Nov 4, 2026. On Feb 28, 2027 the period ends and new terms are 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, FEBM against MARU, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/febm-vs-maru
ETFIQ. (Nov 4, 2026). FEBM against MARU. Retrieved from https://etfiq.com/compare/buffer/febm-vs-maru
[FEBM against MARU (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/febm-vs-maru)
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