# XMAY (FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May)

First Trust · Buffer ETFs · data as of Sep 21, 2026

As of Sep 21, 2026, XMAY is between its buffer and cap, with SPY up 4.7% since the period began.

## Key facts

- XMAY, can still gain: 6.6%, as of Sep 21, 2026.
- XMAY, fall before the buffer: 4.1%, as of Sep 21, 2026.
- XMAY, protection left, index points: 15.0%, as of Sep 21, 2026.
- XMAY, days to reset: 242, as of Sep 21, 2026.
- XMAY, net assets: $19m (issuer page, as of Sep 18, 2026).
- XMAY, expense ratio: 0.85% (issuer page, Sep 21, 2026).

## XMAY over each window to Sep 21, 2026

| Window | Total return | SPY | Gap to SPY |
| --- | --- | --- | --- |
| 3 months | +2.1% | +2.3% | −0.1 pts |
| 6 months | +5.7% | +18.0% | −12.3 pts |
| 1 year | +7.7% | +16.6% | −8.8 pts |

## Every published field

| Field | Value | Source |
| --- | --- | --- |
| Reference index | SPY | ETFIQ |
| Buffer | 15% | ETFIQ |
| Outcome period | May 18, 2026 to May 21, 2027 | ETFIQ |
| Starting cap | +11.0% | ETFIQ |
| SPY return since period start | +4.7% | ETFIQ |
| Fund return since period start | +3.4% | ETFIQ |
| Net assets | $19m | issuer page, as of Sep 18, 2026 |
| Band state today | Open | ETFIQ |
| Can still gain | 6.6% | issuer, fund price |
| Fall before buffer | 4.1% | issuer, fund price |
| Fall to the buffer in index terms | 4.5% | ETFIQ |
| Protection left in index points | 15.0% of 15.0% | ETFIQ |
| Days left in period | 242 | ETFIQ |
| Expense ratio | 0.85% | issuer page, Sep 21, 2026 |

## Questions

### How much can XMAY still gain?

About 6.6% from its price on Sep 21, 2026, before it reaches its cap, by the issuer's published figure. The cap for the period was set at +11.0%.

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

4.1% in fund-price terms on Sep 21, 2026, by the issuer's figure. In index terms SPY can fall 4.5% from that level before the buffer begins. Losses until that point are the holder's.

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

15.0% of the 15.0% buffer sat below the SPY level on Sep 21, 2026. That is an ETFIQ calculation in index points, on one definition for every issuer.

### When does XMAY reset?

The outcome period ends on May 21, 2027, 242 days from the data on Sep 21, 2026. A new cap is set the next day and the buffer starts again.

### What does XMAY cost?

The prospectus expense ratio is 0.85% a year.


## Cite this page

ETFIQ, XMAY, data as of Sep 21, 2026. https://etfiq.com/funds/xmay
Free to use with attribution; the underlying files are at https://etfiq.com/data/.

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