Data as of Nov 4, 2026.
SIXZ vs ZMAY: Cap, Buffer & Days Left
As of Nov 4, 2026 ZMAY can fall 3.1% before its buffer engages and SIXZ 1.2%.
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Net assets: $64m on Nov 3, 2026 for AllianzIM U.S. Equity Buffer10 ETF - May, and $64m on Nov 4, 2026 for Innovator Equity Defined Protection ETF - 1 Yr May.
SIXZ: reference +1.5% since period start, fund +0.9%; buffer 0 to −10; cap +8.3%; Between buffer and cap. Data to Nov 4, 2026.
SIXZ: reference +1.5% since period start, fund +0.9%; buffer 0 to −10; cap +8.3%; Between buffer and cap. Data to Nov 4, 2026.ZMAY: reference +6.7% since period start, fund +2.8%; buffer Floor; cap +7.3%; Full floor. Data to Nov 4, 2026.
Data to Nov 4, 2026.Pair scorecard
SIXZ costs 0.05 points a year less; their one-year returns differ by 6.3 points.
Points (pts) are percentage points.
| Measure | SIXZ | ZMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | +11.4% | +5.1% |
| Drawdown | ||
| Index fall to the buffer | 1.4% | 6.2% |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.74% | 0.79% |
| Net assets, as of Nov 3, 2026 | $64m | $64m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | SIXZ | ZMAY | SIXZ | ZMAY |
| 3 months | +2.3% | +1.0% | +2.7 pts | +1.3 pts |
| 6 months | +4.7% | +2.2% | +0.2 pts | −2.3 pts |
| 1 year | +11.4% | +5.1% | −2.1 pts | −8.5 pts |
| Since launchNot the same days: SIXZ May 2024 · ZMAY May 2025 | +30.2% | +8.9% | −23.1 pts | −28.4 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.
These are two different products. ZMAY is a floor fund, which caps how far a holder can fall. SIXZ 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
SIXZ resets first, on Apr 30, 2027, 177 days from now; ZMAY runs to Apr 30, 2027, 177 days. SIXZ can still gain 7.0% before its cap, ZMAY 4.0%. A fall from here reaches SIXZ’s buffer after 1.2% and ZMAY’s after 3.1%. Both track SPY, so what separates them is where each is in its own period.
SIXZ
From its price on Nov 4, 2026, the fund can gain about 7.0% more before it reaches its cap. The fund's price can fall 1.2% 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: 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.
ZMAY
From its price on Nov 4, 2026, the fund can gain about 4.0% more before it reaches its cap. The fund's price can fall 3.1% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 6.2% 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.
Questions people ask
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.
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ETFIQ, SIXZ against ZMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/sixz-vs-zmay
ETFIQ. (Nov 4, 2026). SIXZ against ZMAY. Retrieved from https://etfiq.com/compare/buffer/sixz-vs-zmay
[SIXZ against ZMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/sixz-vs-zmay)
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