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Data as of Nov 4, 2026.

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Buffer ETFs

GFEB vs MRCP: Cap, Buffer & Days Left

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As of Nov 4, 2026 MRCP can fall 8.6% before its buffer engages and GFEB 7.7%, and GFEB resets 9 days sooner.

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Net assets: $369m on Nov 3, 2026 for FT Vest U.S. Equity Moderate Buffer ETF - February, and $35m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - March.

GFEB on its own →MRCP on its own →
At a glance
7.7%
GFEB can fall this far before its buffer
8.6%
MRCP can fall this far before its buffer
3.5%
GFEB can still gain
4.7%
MRCP can still gain
GFEB Between buffer and cap
Between buffer and capGFEB: reference +11.2% since period start, fund +7.4%; buffer 0 to −15; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.15 pts of buffer+11.2% gain captured−15.0% floor0% period start+12.1% cap+0.8% more to the capTODAY · SPY +11.2%Between buffer and capGFEB: reference +11.2% since period start, fund +7.4%; buffer 0 to −15; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.15 pts+11.2%−15.0% floor0% start+12.1% cap+0.8% more to the capTODAY · SPY +11.2%

GFEB: reference +11.2% since period start, fund +7.4%; buffer 0 to −15; cap +12.1%; Between buffer and cap. Data to Nov 4, 2026.

GFEB: reference +11.2% since period start, fund +7.4%; buffer 0 to −15; cap +12.1%; 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 2.1 points; GFEB is 10.5 times larger.

Points (pts) are percentage points.

GFEB vs MRCP: Cap, Buffer & Days Left
MeasureGFEBMRCP
Return
Total return, 1 year+11.2%+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$369m$35m
Holdings
Holdings in commonnot published
ETFIQ Downside Cover Score · GFEB scores higher If the market falls into a bear market from here, how much does the buffer absorb?
IQ Buffer Score61.8GFEB51.5MRCP

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: GFEB vs MRCP: Cap, Buffer & Days Left
Total returnGap to the reference's price return
WindowGFEBMRCPGFEBMRCP
3 months+1.5%+1.6%+1.8 pts+2.0 pts
6 months+4.3%+4.8%−0.2 pts+0.3 pts
1 year+11.2%+13.3%−2.4 pts−0.2 pts
3 years+45.4%–−31.0 pts–
Since launchNot the same days: GFEB Feb 2023 · MRCP Mar 2024+56.2%+41.1%−36.0 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

GFEB FT Vest U.S. Equity Moderate Buffer ETF - February · Absorbs the first 15% of loss on SPY and caps the gain at 12.1%, 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 15% 12%
Outcome period Feb 23, 2026 to Feb 19, 2027 Mar 1, 2026 to Feb 28, 2027
Days left 107 116
Starting cap +12.1% +14.5%
Can still gain 3.5% 4.7%
Fall before buffer 7.7% 8.6%
Protection left, index points 15.0% of 15.0% 12.0% of 12.0%
Index return this period +11.2% +11.8%
Fund return this period +7.4% +8.9%
State today Open Open
Expense ratio 0.85% 0.50%
Net assets, GFEB as of Nov 3, 2026 and MRCP as of Nov 4, 2026 $369m $35m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

GFEB resets first, on Feb 19, 2027, 107 days from now; MRCP runs to Feb 28, 2027, 116 days. GFEB can still gain 3.5% before its cap, MRCP 4.7%. A fall from here reaches GFEB’s buffer after 7.7% 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
GFEB

From its price on Nov 4, 2026, the fund can gain about 3.5% more before it reaches its cap. The fund's price can fall 7.7% 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: 15.0% of the 15.0% 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, GFEB or MRCP?
From their prices on Nov 4, 2026, GFEB can gain about 3.5% before its cap and MRCP about 4.7%, so MRCP has more room left this period.
Which resets first, GFEB or MRCP?
GFEB 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, GFEB or MRCP?
GFEB charges 0.85% a year and MRCP charges 0.50%, so MRCP is cheaper. Fees come from each fund's prospectus.
Other comparisons
GFEB vs MARWGFEB vs PMMRGFEB vs MARUGFEB vs CPSRMRCP vs PMMRMRCP vs SIXPMRCP vs BMARMRCP vs PMAR
Where to next
State Street® SPDR® S&P 500® ETF Trust →GFEB on its own →MRCP on its own →Method →Standards and sources →
Sources and dates
GFEB filings on SEC EDGAR ↗
First Trust page for GFEB ↗
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, GFEB against MRCP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/gfeb-vs-mrcp

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