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FMAR vs TENJ

FT Vest U.S. Equity Buffer ETF - March

FMARCCboe

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Overlap

Expense ratio

TENJ −0.32pt a year

FMAR0.85%TENJ0.53%

Avg volume · 30D

TENJ 2.0×the volume

FMAR12.3KTENJ24.6K

FMAR vs TENJ Performance

Oct 31, 2025 – Oct 30, 2026

+14.8%FMAR+11.7%TENJ

Oct 31, 2025 to Oct 30, 2026. FMAR +14.8%. TENJ +11.7%. Use the arrow keys to read each point.0%5%Oct 2025Apr 2026Oct 2026
Expense ratio
FMAR 0.85%
TENJ 0.53%, better
Fund size
FMAR $1.22B
TENJ $47M
1Y total return
FMAR +14.8%, better
TENJ +11.7%
Holdings
FMAR 3
TENJ 4
Avg volume (30D)
FMAR 12.3K sh
TENJ 24.6K sh, better
NAV per share
FMAR $53.62
TENJ $28.09
52W range

ETF.net Grade

FMAR: Cost 11, Risk 76, Mission not scored, Tradability 64, Holdings 63, Durability 82. TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41.
Pillar letters and Scores for FMAR, TENJ, with each pillar’s weight
PillarFMARTENJ
Cost30% weightF11A86Higher
Mission25% weightNot scoredNot scored
Risk15% weightA76HigherC49
Tradability15% weightB64B66Higher
Holdings10% weightB63HigherC51
Durability5% weightA82HigherC41

Rank among S&P 500 Buffer 9-12% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FMAR and TENJ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

TENJ ranks 3rd and FMAR 44th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 4BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 65
  5. Rank 44CFJULFT Vest U.S. Equity Buffer ETF - JulyScore 46
  6. Rank 44CFMARFT Vest U.S. Equity Buffer ETF - MarchScore 46
  7. Rank 44CFMAYFT Vest U.S. Equity Buffer ETF - MayScore 46

Our read on each fund

ETF.net Research

FMARCFT Vest U.S. Equity Buffer ETF - March

TENJBiShares Large Cap 10% Target Buffer Jun ETF

In short

FMAR The March seat in First Trust's twelve-month buffer ladder. It holds SPY-linked options built to absorb the first 10% of a year's losses, in exchange for a ceiling on gains that resets every March.

TENJ No data

Stated mandate

FMAR The Fund seeks to track the price return of the State Street® SPDR® S&P 500® ETF Trust, subject to an upside cap and protection against an initial portion of losses during the stated outcome period.

TENJ No data

Why people hold it

  • FMAR The mechanism is legible: over each one-year outcome period it targets the first 10% of SPY's decline as a cushion, giving up gains above a cap struck at the March reset.
  • Twelve monthly siblings run the same playbook (FJAN, FAPR, FSEP and the rest), so a start month is a choice, or you can ladder several and stop leaning on one reset date.
  • Running since 2021 and now a multi-billion-dollar fund, with the reference asset being the SPY trust itself rather than a bespoke index, inside a standard 1940 Act ETF wrapper.

TENJ No data

Worth knowing

  • FMAR 0.85% a year sits at the pricier end of the buffer shelf. Laddered alternatives are cheaper, with BUFB listed at 0.10%.
  • The 10% buffer and the cap belong to a full outcome period. Buy mid-period and you inherit whatever cushion and headroom remain, not the headline terms.
  • It trades thinly and hasn't been paying distributions, so limit orders earn their keep and any return has to show up in the share price.

TENJ No data

Full FMAR profile⁠

Full TENJ profile⁠

FMAR vs TENJ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FMAR vs TENJ Cost

Overpaying FMAR vs TENJ

$5,663

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • FMAR 0.85%

    $16,199

  • TENJ 0.53%

    $10,536

$10,000
30 years

Cost over time

  • FMAR 0.85%
  • TENJ 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FMAR $16,199TENJ $10,536

Year by year

YearFMARTENJOverpaying
10$1,508$953$555
20$5,706$3,658$2,048
30$16,199$10,536$5,663

Expense ratio

  • 0.85%FMAR
  • 0.53%TENJ, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

TENJ 11th cheapest of 77 funds

FMAR 60th cheapest of 77 funds

FMAR vs TENJ Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
FMAR None
TENJ No data
Last payment
FMAR No data
TENJ $0.07
Ex-dividend
FMAR No data
TENJ Dec 23, 2025
Paid on
FMAR No data
TENJ Dec 29, 2025
Frequency
FMAR No data
TENJ Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

FMARAll FMAR payments⁠

No distribution history available.

TENJIrregular · 1 paymentAll TENJ payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.07. Use the arrow keys to read each point.$0$0.052026YTD

FMAR vs TENJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FMAR 6.6%TENJ 8.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
FMAR 1.57TENJ 0.90since Nov 2025
Worst fallMax drawdown, 5 years
FMAR −14.4%TENJ −5.5%since Oct 2025
Market sensitivityBeta, 5 years
FMAR 0.50TENJ 0.63

FMAR and TENJ in the news

All news⁠

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