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

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

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

## Key facts

- GMAR, past the cap, price drift left: 4.3%, as of Sep 11, 2026.
- GMAR, fall before the buffer: 8.7%, as of Sep 11, 2026.
- GMAR, protection left, index points: 15.0%, as of Sep 11, 2026.
- GMAR, days to reset: 189, as of Sep 11, 2026.
- GMAR, net assets: $397m (issuer page, as of Sep 11, 2026).
- GMAR, expense ratio: 0.85% (issuer page, Sep 11, 2026).

## GMAR over each window to Sep 11, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.4% | +3.3% | −0.9 pts |
| 6 months | +8.9% | +16.0% | −7.1 pts |
| 1 year | +12.7% | +17.5% | −4.8 pts |
| 3 years | +40.5% | +77.9% | −37.4 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 15% | ETFIQ |
| Outcome period | Mar 23, 2026 to Mar 19, 2027 | ETFIQ |
| Starting cap | +14.1% | ETFIQ |
| SPY return since period start | +17.8% | ETFIQ |
| Fund return since period start | +8.6% | ETFIQ |
| Net assets | $397m | issuer page, as of Sep 11, 2026 |
| Band state today | At cap | ETFIQ |
| Can still gain | 4.3% | issuer, fund price |
| Fall before buffer | 8.7% | issuer, fund price |
| Fall to the buffer in index terms | 15.1% | ETFIQ |
| Protection left in index points | 15.0% of 15.0% | ETFIQ |
| Days left in period | 189 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 11, 2026 |

## Questions

### How much can GMAR still gain?

Nothing more in index terms on Sep 11, 2026. SPY has already passed the cap of +14.1% for this period, which runs from Mar 23, 2026 to Mar 19, 2027.

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

8.7% 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 GMAR buffer is left?

15.0% of the 15.0% 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 GMAR 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 GMAR cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

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

HTML: https://etfiq.com/funds/gmar  ·  JSON: https://etfiq.com/funds/gmar.json