Data as of Nov 4, 2026.
MARU vs PBMR: Cap, Buffer & Days Left
As of Nov 4, 2026 MARU can fall 8.2% before its buffer engages and PBMR 6.9%.
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Net assets: $35m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer15 Uncapped ETF - Mar, and $38m on Nov 4, 2026 for PGIM S&P 500 Buffer 20 ETF - March .
MARU: reference +11.8% since period start, fund +8.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.
MARU: reference +11.8% since period start, fund +8.1%; buffer 0 to −15; no cap; No cap. Data to Nov 4, 2026.PBMR: reference +11.8% since period start, fund +6.9%; buffer 0 to −20; cap +10.9%; At its cap. Data to Nov 4, 2026.
PBMR: reference +11.8% since period start, fund +6.9%; buffer 0 to −20; cap +10.9%; At its cap. Data to Nov 4, 2026.Pair scorecard
PBMR costs 0.24 points a year less; their one-year returns differ by 1.5 points; PBMR is 1.1 times larger.
Points (pts) are percentage points.
| Measure | MARU | PBMR |
|---|---|---|
| Return | ||
| Total return, 1 year | +8.7% | +10.2% |
| Drawdown | ||
| Index fall to the buffer | 10.5% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.50% |
| Net assets, as of Nov 3, 2026 | $35m | $38m |
| Holdings | ||
| Holdings in common | not published | |
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
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 →
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | MARU | PBMR | MARU | PBMR |
| 3 months | −1.2% | +1.5% | −0.8 pts | +1.9 pts |
| 6 months | +2.5% | +4.0% | −2.0 pts | −0.5 pts |
| 1 year | +8.7% | +10.2% | −4.9 pts | −3.3 pts |
| Since launchNot the same days: MARU Mar 2025 · PBMR Mar 2024 | +21.7% | +31.3% | −9.7 pts | −18.2 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
As of Nov 4, 2026. Source: ETFIQ.
PBMR is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
MARU resets first, on Feb 28, 2027, 116 days from now; PBMR runs to Feb 28, 2027, 116 days. A fall from here reaches MARU’s buffer after 8.2% and PBMR’s after 6.9%. Both track SPY, so what separates them is where each is in its own period.
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.
PBMR
SPY had already risen past this fund's cap of +10.9% for the period on Nov 4, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 3.3% as the period runs out. The fund's price can fall 6.9% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's SPY level. On Feb 28, 2027 the period ends and a new cap is set.
Questions people ask
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.
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ETFIQ, MARU against PBMR, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/maru-vs-pbmr
ETFIQ. (Nov 4, 2026). MARU against PBMR. Retrieved from https://etfiq.com/compare/buffer/maru-vs-pbmr
[MARU against PBMR (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/maru-vs-pbmr)
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