Which has more room to gain, MRCP or SIXP?

From their prices on Nov 4, 2026, MRCP can gain about 4.7% before its cap and SIXP about 6.4%, so SIXP has more room left this period.

Which resets first, MRCP or SIXP?

MRCP ends its outcome period on Feb 28, 2027 and SIXP on Feb 28, 2027. A new cap is set the day after each.

Which is cheaper, MRCP or SIXP?

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

Data as of Nov 4, 2026.

Buffer ETFs

MRCP vs SIXP: Cap, Buffer & Days Left

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As of Nov 4, 2026 MRCP can fall 8.6% before its buffer engages and SIXP 1.1%.

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Net assets: $35m on Nov 4, 2026 for PGIM S&P 500 Buffer 12 ETF - March, and $215m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - Mar.

MRCP on its own →SIXP on its own →

At a glance

8.6%

MRCP can fall this far before its buffer

1.1%

SIXP can fall this far before its buffer

4.7%

MRCP can still gain

6.4%

SIXP can still gain

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.

SIXP Buffer working

SIXP: reference 0.0% since period start, fund +0.8%; buffer 0 to −10; cap +7.6%; Buffer working. Data to Nov 4, 2026.

Pair scorecard

MRCP costs 0.24 points a year less; their one-year returns differ by 1.4 points; SIXP is 6.1 times larger.

Points (pts) are percentage points.

MRCP vs SIXP: Cap, Buffer & Days Left
Measure	MRCP	SIXP
Return
Measure	MRCP	SIXP
Total return, 1 year	+13.3%	+11.9%
Drawdown
Measure	MRCP	SIXP
Index fall to the buffer	10.5%	0.0%
Benchmark
Measure	MRCP	SIXP
What it tracks	SPY	SPY
Cost and size
Measure	MRCP	SIXP
Expense ratio	0.50%	0.74%
Net assets, as of Nov 3, 2026	$35m	$215m
Holdings
Measure	MRCP	SIXP
Holdings in common	not published

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

IQ Buffer Score51.5MRCP30.8SIXP

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

MRCP 51.5

SIXP 30.8

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: MRCP vs SIXP: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	MRCP	SIXP	MRCP	SIXP
3 months	+1.6%	+1.2%	+2.0 pts	+1.6 pts
6 months	+4.8%	+4.4%	+0.3 pts	−0.1 pts
1 year	+13.3%	+11.9%	−0.2 pts	−1.7 pts
Since launchMRCP Mar 2024 · SIXP Mar 2024	+41.1%	+37.9%	−8.4 pts	−11.6 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

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 SIXP AllianzIM U.S. Equity Buffer10 ETF - Mar · Absorbs the first 10% of loss on SPY and caps the gain at 7.6%, over a period ending Feb 28, 2027

Issuer PGIM AllianzIM

Reference index SPY SPY

Buffer 12% 10%

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

Days left 116 116

Starting cap +14.5% +7.6%

Can still gain 4.7% 6.4%

Fall before buffer 8.6% 1.1%

Protection left, index points 12.0% of 12.0% 10.0% of 10.0%

Index return this period +11.8% 0.0%

Fund return this period +8.9% +0.8%

State today Open Buffer working

Expense ratio 0.50% 0.74%

Net assets, MRCP as of Nov 4, 2026 and SIXP as of Nov 3, 2026 $35m $215m

As of Nov 4, 2026. Source: ETFIQ.

Where each one stands today

MRCP resets first, on Feb 28, 2027, 116 days from now; SIXP runs to Feb 28, 2027, 116 days. MRCP can still gain 4.7% before its cap, SIXP 6.4%. A fall from here reaches MRCP’s buffer after 8.6% and SIXP’s after 1.1%. Both track SPY, so what separates them is where each is in its own period.

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About each fund

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.

SIXP

From its price on Nov 4, 2026, the fund can gain about 6.4% more before it reaches its cap. The fund's price can fall 1.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 0.0% 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.

Questions people ask

Which has more room to gain, MRCP or SIXP?: From their prices on Nov 4, 2026, MRCP can gain about 4.7% before its cap and SIXP about 6.4%, so SIXP has more room left this period.
Which resets first, MRCP or SIXP?: MRCP ends its outcome period on Feb 28, 2027 and SIXP on Feb 28, 2027. A new cap is set the day after each.
Which is cheaper, MRCP or SIXP?: MRCP charges 0.50% a year and SIXP charges 0.74%, so MRCP is cheaper. Fees come from each fund's prospectus.

Other comparisons

MRCP vs PMMR MRCP vs BMAR MRCP vs UMAR MRCP vs ZMAR SIXP vs CPSR SIXP vs DDTM SIXP vs DFEB SIXP vs PMAR

Where to next

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

Sources and dates

MRCP filings on SEC EDGAR ↗

PGIM website ↗

SIXP filings on SEC EDGAR ↗

AllianzIM page for SIXP ↗

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

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