Which has more room to gain, PMJN or XMAY?

From their prices on Nov 4, 2026, PMJN can gain about 5.4% before its cap and XMAY about 6.1%, so XMAY has more room left this period.

Which resets first, PMJN or XMAY?

PMJN ends its outcome period on May 31, 2027 and XMAY on May 21, 2027. A new cap is set the day after each.

Which is cheaper, PMJN or XMAY?

PMJN charges 0.50% a year and XMAY charges 0.85%, so PMJN is cheaper. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Buffer ETFs

PMJN vs XMAY: Cap, Buffer & Days Left

Share on X Download as PDF

As of Nov 4, 2026 XMAY can fall 4.6% before its buffer engages and PMJN 1.9%, and XMAY resets 10 days sooner.

askIQ about this page

askIQ about PMJN and XMAY

Net assets: $10m on Nov 4, 2026 for PGIM S&P 500 Max Buffer ETF - June, and $19m on Nov 3, 2026 for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May.

PMJN on its own →XMAY on its own →

At a glance

1.9%

PMJN can fall this far before its buffer

4.6%

XMAY can fall this far before its buffer

5.4%

PMJN can still gain

6.1%

XMAY can still gain

PMJN Full floor

PMJN: reference +1.4% since period start, fund +1.4%; buffer Floor; cap +7.4%; Full floor. Data to Nov 4, 2026.

Data to Nov 4, 2026.

XMAY Between buffer and cap

XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.

Pair scorecard

PMJN costs 0.35 points a year less; their one-year returns differ by 3.2 points; XMAY is 1.9 times larger.

Points (pts) are percentage points.

PMJN vs XMAY: Cap, Buffer & Days Left
Measure	PMJN	XMAY
Return
Measure	PMJN	XMAY
Total return, 1 year	+4.8%	+8.0%
Drawdown
Measure	PMJN	XMAY
Index fall to the buffer	1.4%	3.6%
Benchmark
Measure	PMJN	XMAY
What it tracks	SPY	SPY
Cost and size
Measure	PMJN	XMAY
Expense ratio	0.50%	0.85%
Net assets, as of Nov 3, 2026	$10m	$19m
Holdings
Measure	PMJN	XMAY
Holdings in common	not published

Method

Window by window

Window by window: PMJN vs XMAY: Cap, Buffer & Days Left
	Total return		Gap to the reference's price return
Window	PMJN	XMAY	PMJN	XMAY
3 months	+0.7%	+1.3%	+1.1 pts	+1.7 pts
6 months	+1.7%	+3.9%	−2.8 pts	−0.6 pts
1 year	+4.8%	+8.0%	−8.7 pts	−5.5 pts
Since launchNot the same days: PMJN Jun 2025 · XMAY May 2024	+8.2%	+25.1%	−21.2 pts	−19.6 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

PMJN PGIM S&P 500 Max Buffer ETF - June · Absorbs the whole loss on SPY and caps the gain at 7.4%, over a period ending May 31, 2027 XMAY FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May · Absorbs the first 15% of loss on SPY and caps the gain at 11.0%, over a period ending May 21, 2027

Issuer PGIM First Trust

Reference index SPY SPY

Buffer 100% 15%

Outcome period Jun 1, 2026 to May 31, 2027 May 18, 2026 to May 21, 2027

Days left 208 198

Starting cap +7.4% +11.0%

Can still gain 5.4% 6.1%

Fall before buffer 1.9% 4.6%

Protection left, index points 100.0% of 100.0% 15.0% of 15.0%

Index return this period +1.4% +3.7%

Fund return this period +1.4% +3.9%

State today Open Open

Expense ratio 0.50% 0.85%

Net assets, PMJN as of Nov 4, 2026 and XMAY as of Nov 3, 2026 $10m $19m

As of Nov 4, 2026. Source: ETFIQ.

These are two different products. PMJN is a floor fund, which caps how far a holder can fall. XMAY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.

Where each one stands today

XMAY resets first, on May 21, 2027, 198 days from now; PMJN runs to May 31, 2027, 208 days. PMJN can still gain 5.4% before its cap, XMAY 6.1%. A fall from here reaches PMJN’s buffer after 1.9% and XMAY’s after 4.6%. Both track SPY, so what separates them is where each is in its own period.

Alert

About each fund

PMJN

From its price on Nov 4, 2026, the fund can gain about 5.4% more before it reaches its cap. The fund's price can fall 1.9% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 1.4% from today's level to the point where the buffer begins. Protection left, in index points: 100.0% of the 100.0% buffer still sits below today's SPY level. 208 days remained on Nov 4, 2026. On May 31, 2027 the period ends and a new cap is set.

XMAY

From its price on Nov 4, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% 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. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.

Questions people ask

Which has more room to gain, PMJN or XMAY?: From their prices on Nov 4, 2026, PMJN can gain about 5.4% before its cap and XMAY about 6.1%, so XMAY has more room left this period.
Which resets first, PMJN or XMAY?: PMJN ends its outcome period on May 31, 2027 and XMAY on May 21, 2027. A new cap is set the day after each.
Which is cheaper, PMJN or XMAY?: PMJN charges 0.50% a year and XMAY charges 0.85%, so PMJN is cheaper. Fees come from each fund's prospectus.

Other comparisons

PMJN vs CPSU PMJN vs DLMY PMJN vs DDTZ PMJN vs HJUN XMAY vs DLMY XMAY vs CPSU XMAY vs DDTZ XMAY vs HJUN

Where to next

SPDR S&P 500 ETF Trust →All buffer ETFs ranked by the Downside Cover Score →How the scores are computed →PMJN on its own →XMAY on its own →Method →Standards and sources →

Sources and dates

PMJN filings on SEC EDGAR ↗

PGIM website ↗

XMAY filings on SEC EDGAR ↗

First Trust page for XMAY ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

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, PMJN against XMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/pmjn-vs-xmay

Open data →

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