Which resets first, GAPR or MAYC?

GAPR ends its outcome period on Apr 16, 2027 and MAYC on Apr 30, 2027. A new cap is set the day after each.

Which is cheaper, GAPR or MAYC?

GAPR charges 0.85% a year and MAYC charges 0.30%, so MAYC is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

GAPR vs MAYC: Cap, Buffer & Days Left

Share on X Download as PDF

GAPR can fall 5.9% before its buffer engages as of Nov 4, 2026, and MAYC 4.7% as of Nov 3, 2026.

askIQ about this page

askIQ about GAPR and MAYC

Net assets: $293m on Nov 3, 2026 for FT Vest U.S. Equity Moderate Buffer ETF - April, and $1.2m on Nov 4, 2026 for Corgi U.S. Equities 10% Structured Buffer ETF - May Series.

GAPR on its own →MAYC on its own →

At a glance

GAPR Between buffer and cap

GAPR: reference +8.0% since period start, fund +5.4%; buffer 0 to −15; cap +12.3%; Between buffer and cap. Data to Nov 4, 2026.

MAYC Between buffer and cap

MAYC: reference +5.0% since period start, fund +4.6%; buffer 0 to −10; cap +13.5%; Between buffer and cap. Data to Nov 3, 2026.

Pair scorecard

MAYC costs 0.55 points a year less; GAPR is far larger, $293m against $1.2m.

Points (pts) are percentage points.

GAPR vs MAYC: Cap, Buffer & Days Left
Measure	GAPR	MAYC
Return
Measure	GAPR	MAYC
Total return, 1 year	+8.7%	not published
Drawdown
Measure	GAPR	MAYC
Index fall to the buffer	7.4%	4.7%
Benchmark
Measure	GAPR	MAYC
What it tracks	SPY	SPY
Cost and size
Measure	GAPR	MAYC
Expense ratio	0.85%	0.30%
Net assets, as of Nov 3, 2026	$293m	$1.2m
Holdings
Measure	GAPR	MAYC
Holdings in common	not published

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

IQ Buffer Score71.1GAPR38.7MAYC

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

GAPR 71.1

MAYC 38.7

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: GAPR vs MAYC: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	GAPR	MAYC	GAPR	MAYC
3 months	+1.2%	+1.1%	+1.6 pts	+1.5 pts
6 months	+4.2%	+4.2%	−0.3 pts	−0.3 pts
1 year	+8.7%	–	−4.8 pts	–
3 years	+37.8%	–	−38.6 pts	–
Since launchNot the same days: GAPR Apr 2023 · MAYC May 2026	+44.1%	+5.0%	−41.8 pts	−1.4 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

GAPR FT Vest U.S. Equity Moderate Buffer ETF - April · Absorbs the first 15% of loss on SPY and caps the gain at 12.3%, over a period ending Apr 16, 2027 MAYC Corgi U.S. Equities 10% Structured Buffer ETF - May Series · Absorbs the first 10% of loss on SPY and caps the gain at 13.5%, over a period ending Apr 30, 2027

Issuer First Trust Corgi

Reference index SPY SPY

Buffer 15% 10%

Outcome period Apr 20, 2026 to Apr 16, 2027 May 1, 2026 to Apr 30, 2027

Days left 163 178

Starting cap +12.3% +13.5%

Can still gain 5.8% not published

Fall before buffer 5.9% 4.7%

Protection left, index points 15.0% of 15.0% 10.0% of 10.0%

Index return this period +8.0% +5.0%

Fund return this period +5.4% +4.6%

State today Open Open

Expense ratio 0.85% 0.30%

Net assets, GAPR as of Nov 3, 2026 and MAYC as of Nov 4, 2026 $293m $1.2m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

GAPR resets first, on Apr 16, 2027, 163 days from now; MAYC runs to Apr 30, 2027, 178 days. A fall from here reaches GAPR’s buffer after 5.9% and MAYC’s after 4.7%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

GAPR

From its price on Nov 4, 2026, the fund can gain about 5.8% more before it reaches its cap. The fund's price can fall 5.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 7.4% 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. 163 days remained on Nov 4, 2026. On Apr 16, 2027 the period ends and a new cap is set.

MAYC

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 4.7% 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. 178 days remained on Nov 3, 2026. On Apr 30, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, GAPR or MAYC?: GAPR ends its outcome period on Apr 16, 2027 and MAYC on Apr 30, 2027. A new cap is set the day after each.
Which is cheaper, GAPR or MAYC?: GAPR charges 0.85% a year and MAYC charges 0.30%, so MAYC is cheaper. Fees come from each fund's prospectus.

Other comparisons

GAPR vs HMAY GAPR vs MAYP GAPR vs PBMY GAPR vs MAYU MAYC vs MAYW MAYC vs MAYT MAYC vs UMAY MAYC vs SIXZ

Where to next

State Street® SPDR® S&P 500® ETF Trust →GAPR on its own →MAYC on its own →Method →Standards and sources →

Sources and dates

GAPR filings on SEC EDGAR ↗

First Trust page for GAPR ↗

MAYC filings on SEC EDGAR ↗

Corgi 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, GAPR against MAYC, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/gapr-vs-mayc

Open data →

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