# FMAR (FT Vest U.S. Equity Buffer ETF - March)

First Trust · Buffer ETFs · data as of Sep 11, 2026

As of Sep 11, 2026, FMAR has reached its cap.

## Key facts

- FMAR, past the cap, price drift left: 5.2%, as of Sep 11, 2026.
- FMAR, fall before the buffer: 10.3%, as of Sep 11, 2026.
- FMAR, protection left, index points: 10.0%, as of Sep 11, 2026.
- FMAR, days to reset: 189, as of Sep 11, 2026.
- FMAR, net assets: $1.2bn (issuer page, as of Sep 11, 2026).
- FMAR, expense ratio: 0.85% (issuer page, Sep 11, 2026).

## FMAR over each window to Sep 11, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +3.0% | +3.3% | −0.3 pts |
| 6 months | +11.7% | +16.0% | −4.3 pts |
| 1 year | +15.9% | +17.5% | −1.6 pts |
| 3 years | +48.6% | +77.9% | −29.3 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 10% | ETFIQ |
| Outcome period | Mar 23, 2026 to Mar 19, 2027 | ETFIQ |
| Starting cap | +17.2% | ETFIQ |
| SPY return since period start | +17.8% | ETFIQ |
| Fund return since period start | +10.6% | ETFIQ |
| Net assets | $1.2bn | issuer page, as of Sep 11, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 5.2% | issuer, fund price |
| Fall before buffer | 10.3% | issuer, fund price |
| Fall to the buffer in index terms | 15.1% | ETFIQ |
| Protection left in index points | 10.0% of 10.0% | ETFIQ |
| Days left in period | 189 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 11, 2026 |

## Questions

### How much can FMAR still gain?

Nothing more in index terms on Sep 11, 2026. SPY has already passed the cap of +17.2% for this period, which runs from Mar 23, 2026 to Mar 19, 2027.

### How far can FMAR fall before the buffer helps?

10.3% in fund-price terms on Sep 11, 2026, by the issuer's figure. In index terms SPY can fall 15.1% from that level before the buffer begins. Losses until that point are the holder's.

### How much of the FMAR buffer is left?

10.0% of the 10.0% buffer sat below the SPY level on Sep 11, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does FMAR reset?

The outcome period ends on Mar 19, 2027, 189 days from the data on Sep 11, 2026. A new cap is set the next day and the buffer starts again.

### What does FMAR cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

ETFIQ, FMAR, data as of Sep 11, 2026. https://etfiq.com/funds/fmar
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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