Innovator U.S. Equity Buffer ETF - May (BMAY) belongs to the Defined Outcome category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with BMAY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to BMAY
BMAY charges 0.79% annually. There are 94 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | BMAY vs APRB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | BMAY vs OCTB | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | BMAY vs JANB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | BMAY vs JULB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | BMAY vs FBUF |
Best Risk-Adjusted Alternatives to BMAY
BMAY has a PortfoliosLab risk / return rank of 89. There are 108 ETFs in the Defined Outcome category with higher risk-adjusted ranks, going as high as 99.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | BMAY vs PMAP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | BMAY vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | BMAY vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | BMAY vs ZAPR | |
| Innovator U.S. Equity Accelerated 9 Buffer ETF - A... | 98 | 132.07M | Mar 2021 | BMAY vs XBAP |
Top Performing BMAY Alternatives (YTD)
BMAY is at 8.04% YTD. There are 113 ETFs in the Defined Outcome category with higher YTD returns, going as high as 16.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 16.35% | — | Aug 2025 | BMAY vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 15.61% | 2.87M | Jun 2025 | BMAY vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 15.29% | — | Jan 2025 | BMAY vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 14.35% | 214.27M | Mar 2020 | BMAY vs KAPR | |
| FT Vest U.S. Equity Uncapped Accelerator ETF - Jan... | 14.32% | — | Jan 2025 | BMAY vs UXJA |
Lowest Volatility Alternatives to BMAY
BMAY has 6.29% 1-year volatility. There are 153 ETFs in the Defined Outcome category with lower 1-year volatility, going as low as 1.18%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 1.18% | — | Mar 2025 | BMAY vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.37% | — | Apr 2025 | BMAY vs APXM | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | BMAY vs CPSP | |
| PGIM S&P 500 Max Buffer ETF - May | 1.42% | — | Apr 2025 | BMAY vs PMMY | |
| iShares Large Cap Max Buffer Mar ETF | 1.45% | — | Mar 2025 | BMAY vs MMAX |
Lowest Drawdown Alternatives to BMAY
BMAY has a 1-year max drawdown of -2.95%. There are 87 ETFs in the Defined Outcome category with shallower 1-year drawdowns, going as shallow as -0.35%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | -0.35% | — | Mar 2025 | BMAY vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | BMAY vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | BMAY vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | BMAY vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | BMAY vs CPSM |
Other ETFs from Innovator
The 10 most viewed Innovator ETFs shown here include BALT, BUFF, SFLR and span 5 categories. AUM among these funds goes as high as $3B.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Innovator Defined Wealth Shield ETF | Defined Outcome | 96 | 3.34% | 2.72B | Jun 2021 | BMAY vs BALT | |
| Innovator Laddered Allocation Power Buffer ETF | Defined Outcome | 90 | 7.50% | 923.55M | Oct 2016 | BMAY vs BUFF | |
| Innovator Equity Managed Floor ETF | Options Trading | 50 | 5.77% | 2.11B | Nov 2022 | BMAY vs SFLR | |
| Innovator Deepwater Frontier Tech ETF | Technology Equities | 48 | 18.96% | 200.31M | Jul 2018 | BMAY vs LOUP | |
| Innovator U.S. Equity Accelerated Plus ETF | Leveraged Equities | 98 | 13.51% | 22.69M | Apr 2021 | BMAY vs XTAP | |
| Innovator U.S. Equity Power Buffer ETF - January | Defined Outcome | 84 | 7.00% | 1.44B | Jan 2019 | BMAY vs PJAN | |
| Innovator U.S. Equity Buffer ETF - April | Defined Outcome | 97 | 12.86% | 403.09M | Mar 2019 | BMAY vs BAPR | |
| Innovator U.S. Equity Power Buffer ETF October | Defined Outcome | 81 | 7.33% | 963.46M | Sep 2018 | BMAY vs POCT | |
| Innovator Nasdaq-100 Managed Floor ETF | Nasdaq-100, Options Trading | 42 | 4.20% | 524.31M | Jan 2024 | BMAY vs QFLR | |
| Innovator U.S. Equity Power Buffer ETF - July | Defined Outcome | 89 | 7.09% | 1.25B | Aug 2018 | BMAY vs PJUL |
Often Compared With BMAY
Investors most often compare BMAY with FAPR, JEPQ, IAPR. These 20 comparison targets span 5 categories, based on PortfoliosLab usage data.
Compare BMAY with Any Fund or Stock
Compare BMAY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair BMAY with funds that move differently
Innovator U.S. Equity Buffer ETF - May alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to BMAY.
Explore BMAY Diversifiers