Which has more room to gain, FMAR or SIXO?

From their prices on Oct 1, 2026, FMAR can gain about 4.8% before its cap and SIXO about 7.3%, so SIXO has more room left this period.

Which resets first, FMAR or SIXO?

FMAR ends its outcome period on Mar 19, 2027 and SIXO on Mar 31, 2027. A new cap is set the day after each.

Which is cheaper, FMAR or SIXO?

FMAR charges 0.85% a year and SIXO charges 0.74%, so SIXO is cheaper. Fees come from each fund's prospectus.

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FMAR vs SIXO: which one stands where?

As of Oct 1, 2026 FMAR can fall 10.7% before its buffer engages and SIXO 0.4%, and FMAR resets 12 days sooner. FT Vest U.S. Equity Buffer ETF - March and AllianzIM U.S. Equity Buffer10 ETF - Apr.

10.7%

FMAR can fall this far before its buffer

0.4%

SIXO can fall this far before its buffer

4.8%

FMAR can still gain

7.3%

SIXO can still gain

FMARAt its cap

FMAR: reference +17.6% since period start, fund +11.0%; buffer 0 to −10; cap +17.2%; At its cap.

SIXOBetween buffer and cap

SIXO: reference 0.0% since period start, fund 0.0%; buffer 0 to −10; cap +7.7%; Between buffer and cap.

ETFIQ Downside Cover Score · SIXO scores higherIf the market falls into a bear market from here, how much does the buffer absorb?

FMAR 20.1

SIXO 34.3

0.2, the lowest in this set99.8, the highest

A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →

FMAR is already at its cap, so more rise in the index adds nothing to it before the period ends.

Where each one stands today

FMAR resets first, on Mar 19, 2027, 170 days from now; SIXO runs to Mar 31, 2027, 182 days. FMAR can still gain 4.8% before its cap, SIXO 7.3%. A fall from here reaches FMAR’s buffer after 10.7% and SIXO’s after 0.4%. Both track SPY, so what separates them is where each is in its own period.

Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.

Performance, window by window

	Total return		Gap to the reference
Window	FMAR	SIXO	FMAR	SIXO
3 months	+2.5%	+2.1%	−0.1 pts	−0.4 pts
6 months	+9.9%	+8.1%	−7.1 pts	−8.9 pts
1 year	+15.5%	+8.1%	−0.2 pts	−7.7 pts
3 years	+52.2%	+34.5%	−32.8 pts	−50.5 pts

FMAR and SIXO over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →

On the same fields

FMAR

FT Vest U.S. Equity Buffer ETF - March · Absorbs the first 10% of loss on SPY and caps the gain at 17.2%, over a period ending Mar 19, 2027

SIXO

AllianzIM U.S. Equity Buffer10 ETF - Apr · Absorbs the first 10% of loss on SPY and caps the gain at 7.7%, over a period ending Mar 31, 2027

Issuer First Trust AllianzIM

Reference index SPY SPY

Buffer 10% 10%

Outcome period Mar 23, 2026 to Mar 19, 2027 Oct 1, 2026 to Mar 31, 2027

Days left 170 182

Starting cap +17.2% +7.7%

Can still gain 4.8% 7.3%

Fall before buffer 10.7% 0.4%

Protection left, index points 10.0% of 10.0% 10.0% of 10.0%

Index return this period +17.6% 0.0%

Fund return this period +11.0% 0.0%

State today At cap Open

Expense ratio 0.85% 0.74%

Net assets $1.2bn $119m

FMAR and SIXO on the same fields, as of Oct 1, 2026. Source: ETFIQ.

FMAR in plain words

SPY had already risen past this fund's cap of +17.2% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 4.8% as the period runs out. The fund's price can fall 10.7% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 14.9% 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. 170 days remained on Oct 1, 2026. On Mar 19, 2027 the period ends and a new cap is set.

SIXO in plain words

From its price on Oct 1, 2026, the fund can gain about 7.3% more before it reaches its cap. The fund's price can fall 0.4% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, SPY can fall 0.0% from today's level to the point where the buffer begins. 182 days remained on Oct 1, 2026. On Mar 31, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, FMAR or SIXO?: From their prices on Oct 1, 2026, FMAR can gain about 4.8% before its cap and SIXO about 7.3%, so SIXO has more room left this period.
Which resets first, FMAR or SIXO?: FMAR ends its outcome period on Mar 19, 2027 and SIXO on Mar 31, 2027. A new cap is set the day after each.
Which is cheaper, FMAR or SIXO?: FMAR charges 0.85% a year and SIXO charges 0.74%, so SIXO is cheaper. Fees come from each fund's prospectus.

Other comparisons

FMAR vs FLAO FMAR vs GMAR FMAR vs MARM FMAR vs PAPR SIXO vs OCTP SIXO vs OCTT SIXO vs OCTU SIXO vs OCTW

State Street® SPDR® S&P 500® ETF Trust →FMAR on its own →SIXO on its own →How every figure is computed →Standards and sources →

Where these figures came from

FMAR filings on SEC EDGAR ↗First Trust page for FMAR ↗SIXO filings on SEC EDGAR ↗AllianzIM page for SIXO ↗

ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.

Cite this page

ETFIQ, FMAR against SIXO, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/fmar-vs-sixo

Open data

Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.