Data as of Nov 4, 2026.
FMAY vs MAYM: Cap, Buffer & Days Left
As of Nov 4, 2026 FMAY can fall 4.5% before its buffer engages and MAYM 2.6%.
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Net assets on Nov 3, 2026: $1.5bn for FT Vest U.S. Equity Buffer ETF - May and $39m for FT Vest U.S. Equity Max Buffer ETF - May.
FMAY: reference +3.7% since period start, fund +3.8%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.
FMAY: reference +3.7% since period start, fund +3.8%; buffer 0 to −10; cap +17.1%; Between buffer and cap. Data to Nov 4, 2026.MAYM: reference +3.7% since period start, fund +1.8%; buffer Floor; cap +7.0%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
Both cost 0.85% a year; their one-year returns differ by 5.1 points; FMAY is far larger, $1.5bn against $39m.
Points (pts) are percentage points.
| Measure | FMAY | MAYM |
|---|---|---|
| Return | ||
| Total return, 1 year | +9.9% | +4.8% |
| Drawdown | ||
| Index fall to the buffer | 3.6% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.85% |
| Net assets, as of Nov 3, 2026 | $1.5bn | $39m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | FMAY | MAYM | FMAY | MAYM |
| 3 months | +0.5% | +0.8% | +0.9 pts | +1.1 pts |
| 6 months | +3.8% | +1.9% | −0.7 pts | −2.6 pts |
| 1 year | +9.9% | +4.8% | −3.6 pts | −8.8 pts |
| 3 years | +48.5% | – | −27.9 pts | – |
| Since launchNot the same days: FMAY May 2020 · MAYM May 2025 | +85.5% | +8.0% | −74.4 pts | −20.9 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
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. MAYM is a floor fund, which caps how far a holder can fall. FMAY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are First Trust funds, so the difference between them is the terms rather than the house.
Where each one stands today
FMAY resets first, on May 21, 2027, 198 days from now; MAYM runs to May 21, 2027, 198 days. FMAY can still gain 12.0% before its cap, MAYM 4.3%. A fall from here reaches FMAY’s buffer after 4.5% and MAYM’s after 2.6%. Both track SPY, so what separates them is where each is in its own period.
FMAY
From its price on Nov 4, 2026, the fund can gain about 12.0% more before it reaches its cap. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.
MAYM
From its price on Nov 4, 2026, the fund can gain about 4.3% more before it reaches its cap. The fund's price can fall 2.6% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level.
Questions people ask
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How this is computed
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, FMAY against MAYM, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/fmay-vs-maym
ETFIQ. (Nov 4, 2026). FMAY against MAYM. Retrieved from https://etfiq.com/compare/buffer/fmay-vs-maym
[FMAY against MAYM (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/fmay-vs-maym)
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