NMAY vs QCAP: which one stands where?
As of Oct 1, 2026 QCAP can fall 6.5% before its buffer engages and NMAY 6.2%, and QCAP resets 14 days sooner. Innovator Growth-100 Power Buffer ETF - May and FT Vest Nasdaq-100® Conservative Buffer ETF - April.
NMAY: reference +10.8% since period start, fund +6.3%; buffer 0 to −15; cap +16.2%; Between buffer and cap.
QCAP: reference +14.0% since period start, fund +6.0%; buffer 0 to −20; cap +13.0%; At its cap.
A percentile among the 293 buffer ETFs with a live outcome period. It is a position in a set, not a rating, and neither end of it is a recommendation. All buffer ETFs ranked by it → How it is computed →
QCAP is already at its cap, so more rise in the index adds nothing to it before the period ends.
Where each one stands today
QCAP resets first, on Apr 16, 2027, 198 days from now; NMAY runs to Apr 30, 2027, 212 days. NMAY can still gain 9.0% before its cap, QCAP 5.8%. A fall from here reaches NMAY’s buffer after 6.2% and QCAP’s after 6.5%. Both track QQQ, so what separates them is where each is in its own period.
Every figure is ETFIQ’s own, from the issuer’s published outcome-period terms. A buffer ETF holds FLEX options on its reference index rather than shares, so there is no holdings overlap between two of them to report.
Performance, window by window
| Total return | Gap to the reference | |||
|---|---|---|---|---|
| Window | NMAY | QCAP | NMAY | QCAP |
| 3 months | +3.1% | +2.8% | +0.9 pts | +0.7 pts |
| 6 months | +7.7% | +6.4% | −19.1 pts | −20.5 pts |
| 1 year | +11.1% | +9.5% | −12.7 pts | −14.3 pts |
NMAY and QCAP over each window. Every figure is an ETFIQ calculation with distributions reinvested. Source: ETFIQ. Open the live comparison on ETFIQ →
On the same fields
NMAY and QCAP on the same fields, as of Oct 1, 2026. Source: ETFIQ.
NMAY in plain words
From its price on Oct 1, 2026, the fund can gain about 9.0% 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 figure. In index terms, QQQ can fall 9.7% 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 QQQ level. 212 days remained on Oct 1, 2026. On Apr 30, 2027 the period ends and a new cap is set.
QCAP in plain words
QQQ had already risen past this fund's cap of +13.0% for the period on Oct 1, 2026, so in index terms there is no more upside to collect. The fund's own price can still drift up to about 5.8% as the period runs out. The fund's price can fall 6.5% from here before the buffer starts absorbing losses, by the issuer's figure. In index terms, QQQ can fall 12.3% from today's level to the point where the buffer begins. Protection left, in index points: 20.0% of the 20.0% buffer still sits below today's QQQ level. 198 days remained on Oct 1, 2026. On Apr 16, 2027 the period ends and a new cap is set.
Questions people ask
ETFIQ links to the documents behind every figure. It is not affiliated with any issuer, and a link is not an endorsement. A comparison is not a recommendation.
ETFIQ, NMAY against QCAP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/nmay-vs-qcap
Free to use with attribution. Every figure is calculated from a named public source; the method is at etfiq.com/methodology.
Cite this page. ETFIQ, NMAY against QCAP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/nmay-vs-qcap Free to use with attribution; the underlying files are at Open data.
Other forms
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- ETFIQ, NMAY against QCAP, data as of Oct 1, 2026. https://etfiq.com/compare/buffer/nmay-vs-qcap
- APA
- ETFIQ. (Oct 1, 2026). NMAY against QCAP. Retrieved from https://etfiq.com/compare/buffer/nmay-vs-qcap
- Markdown
- [NMAY against QCAP (ETFIQ, Oct 1, 2026)](https://etfiq.com/compare/buffer/nmay-vs-qcap)