Data as of Nov 4, 2026.
MAYT vs UMAY: Cap, Buffer & Days Left
As of Nov 4, 2026 UMAY can fall 9.6% before its buffer engages and MAYT 6.2%.
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Net assets: $161m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - May, and $84m on Nov 4, 2026 for Innovator U.S. Equity Ultra Buffer ETF - May.
MAYT: reference +6.7% since period start, fund +5.7%; buffer 0 to −10; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.
MAYT: reference +6.7% since period start, fund +5.7%; buffer 0 to −10; cap +16.3%; Between buffer and cap. Data to Nov 4, 2026.UMAY: reference +6.7% since period start, fund +4.7%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Data to Nov 4, 2026.
UMAY: reference +6.7% since period start, fund +4.7%; buffer −5 to −35; cap +12.5%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
MAYT costs 0.05 points a year less; their one-year returns differ by 2.2 points; MAYT is 1.9 times larger.
Points (pts) are percentage points.
| Measure | MAYT | UMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | +10.7% | +8.5% |
| Drawdown | ||
| Index fall to the buffer | 6.3% | 10.9% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $161m | $83m |
| 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 | MAYT | UMAY | MAYT | UMAY |
| 3 months | +1.1% | +1.2% | +1.5 pts | +1.5 pts |
| 6 months | +4.5% | +3.7% | 0.0 pts | −0.8 pts |
| 1 year | +10.7% | +8.5% | −2.9 pts | −5.1 pts |
| 3 years | +53.6% | +39.4% | −22.8 pts | −37.0 pts |
| Since launchNot the same days: MAYT May 2023 · UMAY May 2020 | +60.4% | +53.3% | −24.2 pts | −117.8 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.
Where each one stands today
MAYT resets first, on Apr 30, 2027, 177 days from now; UMAY runs to Apr 30, 2027, 177 days. MAYT can still gain 9.3% before its cap, UMAY 7.1%. A fall from here reaches MAYT’s buffer after 6.2% and UMAY’s after 9.6%. Both track SPY, so what separates them is where each is in its own period.
Client brief:
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MAYT
From its price on Nov 4, 2026, the fund can gain about 9.3% more before it reaches its cap. The fund's price can fall 6.2% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.3% 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. 177 days remained on Nov 4, 2026. On Apr 30, 2027 the period ends and a new cap is set.
UMAY
From its price on Nov 4, 2026, the fund can gain about 7.1% more before it reaches its cap. The fund's price can fall 9.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 10.9% from today's level to the point where the buffer begins. Protection left, in index points: 30.0% of the 30.0% buffer still sits below today's SPY level.
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, MAYT against UMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/mayt-vs-umay
ETFIQ. (Nov 4, 2026). MAYT against UMAY. Retrieved from https://etfiq.com/compare/buffer/mayt-vs-umay
[MAYT against UMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/mayt-vs-umay)
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