Which resets first, MARU or MRCP?

MARU ends its outcome period on Feb 28, 2027 and MRCP on Feb 28, 2027. New terms are set the day after each.

Which is cheaper, MARU or MRCP?

MARU charges 0.74% a year and MRCP charges 0.50%, so MRCP is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

MARU 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 MARU 8.2%.

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Net assets: $35m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Mar, and $35m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - March.

MARU on its own →MRCP on its own →

At a glance

8.2%

MARU can fall this far before its buffer

8.6%

MRCP can fall this far before its buffer

uncapped

MARU can still gain

4.7%

MRCP can still gain

MARU No cap

MARU: reference +11.8% since period start, fund +8.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.

MRCP Between buffer and cap

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 0.24 points a year less; their one-year returns differ by 4.6 points.

Points (pts) are percentage points.

MARU vs MRCP: Cap, Buffer & Days Left
Measure	MARU	MRCP
Return
Measure	MARU	MRCP
Total return, 1 year	+8.7%	+13.3%
Drawdown
Measure	MARU	MRCP
Index fall to the buffer	10.5%
Benchmark
Measure	MARU	MRCP
What it tracks	SPY	SPY
Cost and size
Measure	MARU	MRCP
Expense ratio	0.74%	0.50%
Net assets, as of Nov 3, 2026	$35m	$35m
Holdings
Measure	MARU	MRCP
Holdings in common	not published

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

IQ Buffer Score53.9MARU51.5MRCP

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

MARU 53.9

MRCP 51.5

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: MARU vs MRCP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	MARU	MRCP	MARU	MRCP
3 months	−1.2%	+1.6%	−0.8 pts	+2.0 pts
6 months	+2.5%	+4.8%	−2.0 pts	+0.3 pts
1 year	+8.7%	+13.3%	−4.9 pts	−0.2 pts
Since launchNot the same days: MARU Mar 2025 · MRCP Mar 2024	+21.7%	+41.1%	−9.7 pts	−8.4 pts

Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. Open this comparison in the app →

Side by side

MARU AllianzIM U.S. Equity Buffer15 Uncapped ETF - Mar · Absorbs the first 15% of loss on SPY and does not cap the gain, over a period ending Feb 28, 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 AllianzIM PGIM

Reference index SPY SPY

Buffer 15% 12%

Outcome period Mar 1, 2026 to Feb 28, 2027 Mar 1, 2026 to Feb 28, 2027

Days left 116 116

Starting cap uncapped +14.5%

Can still gain uncapped 4.7%

Fall before buffer 8.2% 8.6%

Protection left, index points 15.0% of 15.0% 12.0% of 12.0%

Index return this period +11.8% +11.8%

Fund return this period +8.1% +8.9%

State today Uncapped Open

Expense ratio 0.74% 0.50%

Net assets, MARU as of Nov 3, 2026 and MRCP as of Nov 4, 2026 $35m $35m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

MARU resets first, on Feb 28, 2027, 116 days from now; MRCP runs to Feb 28, 2027, 116 days. A fall from here reaches MARU’s buffer after 8.2% and MRCP’s after 8.6%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

MARU

This fund has no cap. It takes a share of any further rise in SPY. The fund's price can fall 8.2% 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: 15.0% of the 15.0% buffer still sits below today's SPY level. 116 days remained on Nov 4, 2026. On Feb 28, 2027 the period ends and new terms are 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. Protection left, in index points: 12.0% of the 12.0% buffer still sits below today's SPY level. On Feb 28, 2027 the period ends and a new cap is set.

Questions people ask

Which resets first, MARU or MRCP?: MARU ends its outcome period on Feb 28, 2027 and MRCP on Feb 28, 2027. New terms are set the day after each.
Which is cheaper, MARU or MRCP?: MARU charges 0.74% a year and MRCP charges 0.50%, so MRCP is cheaper. Fees come from each fund's prospectus.

Other comparisons

MARU vs MARW MARU vs DDTM MARU vs PMMR MARU vs PMAR MRCP vs BMAR MRCP vs CPSR MRCP vs PBMR MRCP vs DDFM

Where to next

SPDR® S&P 500® ETF Trust →MARU on its own →MRCP on its own →Method →Standards and sources →

Sources and dates

MARU filings on SEC EDGAR ↗

AllianzIM page for MARU ↗

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, MARU against MRCP, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/maru-vs-mrcp

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