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Data as of Nov 4, 2026.

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Buffer ETFs

FFEB vs MRCP: Cap, Buffer & Days Left

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As of Nov 4, 2026 FFEB can fall 8.9% before its buffer engages and MRCP 8.6%, and FFEB resets 9 days sooner.

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Net assets: $1.4bn on Nov 3, 2026 for FT Vest U.S. Equity Buffer ETF - February, and $35m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - March.

FFEB on its own →MRCP on its own →
At a glance
8.9%
FFEB can fall this far before its buffer
8.6%
MRCP can fall this far before its buffer
4.9%
FFEB can still gain
4.7%
MRCP can still gain
FFEB Between buffer and cap
Between buffer and capFFEB: reference +11.2% since period start, fund +8.9%; buffer 0 to −10; cap +15.0%; Between buffer and cap. Data to Nov 4, 2026.10 pts of buffer+11.2% gain captured−10.0% floor0% period start+15.0% cap+3.8% more to the capTODAY · SPY +11.2%Between buffer and capFFEB: reference +11.2% since period start, fund +8.9%; buffer 0 to −10; cap +15.0%; Between buffer and cap. Data to Nov 4, 2026.10 pts+11.2%−10.0% floor0% start+15.0% cap+3.8% more to the capTODAY · SPY +11.2%

FFEB: reference +11.2% since period start, fund +8.9%; buffer 0 to −10; cap +15.0%; Between buffer and cap. Data to Nov 4, 2026.

FFEB: reference +11.2% since period start, fund +8.9%; buffer 0 to −10; cap +15.0%; Between buffer and cap. Data to Nov 4, 2026.
MRCP Between buffer and cap
Between buffer and capMRCP: reference +11.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.12 pts of buffer+11.8% gain captured−12.0% floor0% period start+14.5% cap+2.7% more to the capTODAY · SPY +11.8%Between buffer and capMRCP: reference +11.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.12 pts+11.8%−12.0% floor0% start+14.5% cap+2.7% more to the capTODAY · SPY +11.8%

MRCP: reference +11.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.

MRCP: reference +11.8% since period start, fund +8.9%; buffer 0 to −12; cap +14.5%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

MRCP costs 0.35 points a year less; their one-year returns differ by 0.4 points; FFEB is far larger, $1.4bn against $35m.

Points (pts) are percentage points.

FFEB vs MRCP: Cap, Buffer & Days Left
MeasureFFEBMRCP
Return
Total return, 1 year+13.7%+13.3%
Drawdown
Index fall to the buffer10.1%10.5%
Benchmark
What it tracksSPYSPY
Cost and size
Expense ratio0.85%0.50%
Net assets, as of Nov 3, 2026$1.4bn$35m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · MRCP scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score38.7FFEB51.5MRCP

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: FFEB vs MRCP: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowFFEBMRCPFFEBMRCP
3 months+1.3%+1.6%+1.7 pts+2.0 pts
6 months+4.8%+4.8%+0.3 pts+0.3 pts
1 year+13.7%+13.3%+0.1 pts−0.2 pts
3 years+59.7%–−16.7 pts–
Since launchNot the same days: FFEB Feb 2020 · MRCP Mar 2024+109.3%+41.1%−28.6 pts−8.4 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

FFEB FT Vest U.S. Equity Buffer ETF - February · Absorbs the first 10% of loss on SPY and caps the gain at 15.0%, over a period ending Feb 19, 2027 MRCP PGIM S&P 500 Buffer 12 ETF - March · Absorbs the first 12% of loss on SPY and caps the gain at 14.5%, over a period ending Feb 28, 2027
Issuer First Trust PGIM
Reference index SPY SPY
Buffer 10% 12%
Outcome period Feb 23, 2026 to Feb 19, 2027 Mar 1, 2026 to Feb 28, 2027
Days left 107 116
Starting cap +15.0% +14.5%
Can still gain 4.9% 4.7%
Fall before buffer 8.9% 8.6%
Protection left, index points 10.0% of 10.0% 12.0% of 12.0%
Index return this period +11.2% +11.8%
Fund return this period +8.9% +8.9%
State today Open Open
Expense ratio 0.85% 0.50%
Net assets, FFEB as of Nov 3, 2026 and MRCP as of Nov 4, 2026 $1.4bn $35m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

FFEB resets first, on Feb 19, 2027, 107 days from now; MRCP runs to Feb 28, 2027, 116 days. FFEB can still gain 4.9% before its cap, MRCP 4.7%. A fall from here reaches FFEB’s buffer after 8.9% and MRCP’s after 8.6%. Both track SPY, so what separates them is where each is in its own period.

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About each fund
FFEB

From its price on Nov 4, 2026, the fund can gain about 4.9% more before it reaches its cap. The fund's price can fall 8.9% 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: 10.0% of the 10.0% 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.

MRCP

From its price on Nov 4, 2026, the fund can gain about 4.7% more before it reaches its cap. The fund's price can fall 8.6% 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: 12.0% of the 12.0% buffer still sits below today's SPY level. 116 days remained on Nov 4, 2026. On Feb 28, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, FFEB or MRCP?
From their prices on Nov 4, 2026, FFEB can gain about 4.9% before its cap and MRCP about 4.7%, so FFEB has more room left this period.
Which resets first, FFEB or MRCP?
FFEB ends its outcome period on Feb 19, 2027 and MRCP on Feb 28, 2027. A new cap is set the day after each.
Which is cheaper, FFEB or MRCP?
FFEB charges 0.85% a year and MRCP charges 0.50%, so MRCP is cheaper. Fees come from each fund's prospectus.
Other comparisons
FFEB vs MARTFFEB vs MARWFFEB vs SIXPFFEB vs PMMRMRCP vs PMARMRCP vs GFEBMRCP vs SIXPMRCP vs BMAR
Where to next
State Street® SPDR® S&P 500® ETF Trust →FFEB on its own →MRCP on its own →Method →Standards and sources →
Sources and dates
FFEB filings on SEC EDGAR ↗
First Trust page for FFEB ↗
MRCP 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, FFEB against MRCP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/ffeb-vs-mrcp

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