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GMAR vs PSMO

FT Vest U.S. Equity Moderate Buffer ETF - March

GMARCCboe

Pacer Swan SOS Moderate (October) ETF

PSMOBCboe

Overlap

Expense ratio

PSMO −0.36pt a year

GMAR0.85%PSMO0.49%

Avg volume · 30D

GMAR 3.7×the volume

GMAR29.8KPSMO8.14K

3Y return · a year

GMAR +0.3pt

GMAR+12.1%PSMO+11.8%

GMAR vs PSMO Performance

Nov 7, 2025 – Nov 9, 2026

+12.5%GMAR+10.5%PSMO

Nov 7, 2025 to Nov 9, 2026. GMAR +12.5%. PSMO +10.5%. Use the arrow keys to read each point.−2.5%0%2.5%5%7.5%Nov 2025May 2026Nov 2026
Expense ratio
GMAR 0.85%
PSMO 0.49%, better
Fund size
GMAR $421M
PSMO $117M
1Y total return
GMAR +12.5%, better
PSMO +10.5%
Holdings
GMAR 3
PSMO 3
Avg volume (30D)
GMAR 29.8K sh, better
PSMO 8.14K sh
NAV per share
GMAR $44.92
PSMO $32.98
52W range

ETF.net Grade

GMAR: Cost 13, Risk 76, Mission not scored, Tradability 57, Holdings 59, Durability 75. PSMO: Cost 70, Risk 47, Mission 95, Tradability 66, Holdings not scored, Durability 66.
Pillar letters and Scores for GMAR, PSMO, with each pillar’s weight
PillarGMARPSMO
Cost30% weightF13A70Higher
Mission25% weightNot scoredA95
Risk15% weightA76HigherC47
Tradability15% weightB57B66Higher
Holdings10% weightB59Not scored
Durability5% weightA75HigherB66

Rank among S&P 500 Buffer 15% funds

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

Same Category. GMAR and PSMO are both graded against the same 51 S&P 500 Buffer 15% funds, so their Grades compare head to head.

S&P 500 Buffer 15%⁠

Category · 51 funds
See all 51 ›

PSMO ranks 1st and GMAR 20th of 51 funds in the S&P 500 Buffer 15% Category.

  1. Rank 1BPSMOPacer Swan SOS Moderate (October) ETFScore 63
  2. Rank 2BPSMJPacer Swan SOS Moderate (July) ETFScore 60
  3. Rank 20CGJUNFT Vest U.S. Equity Moderate Buffer ETF - JuneScore 44
  4. Rank 20CGMARFT Vest U.S. Equity Moderate Buffer ETF - MarchScore 44
  5. Rank 20CGNOVFT Vest U.S. Equity Moderate Buffer ETF - NovemberScore 44

Our read on each fund

ETF.net Research

GMARCFT Vest U.S. Equity Moderate Buffer ETF - March

PSMOBPacer Swan SOS Moderate (October) ETF

In short

GMAR A March-dated buffer fund: it absorbs the first 15% of an SPY price drop over each one-year outcome period, and in exchange your upside stops at a cap First Trust resets every March.

PSMO A 15% cushion against SPY's first losses, reset every October, for 0.49% a year. Most defined-outcome funds charge more, and the trade is a cap on the upside that gets set fresh at the start of each period.

Stated mandate

GMAR The Fund seeks to match the price return of the State Street® SPDR® S&P 500® ETF Trust up to a 14.10% cap while protecting against the first 15% of losses during the specified outcome period.

PSMO The fund seeks to track the returns of the SPDR S&P 500 ETF Trust up to a stated cap while buffering the first 15% of losses during an approximately one-year outcome period.

Why people hold it

  • GMAR The cushion is 15%, one of the deeper standard buffers out there: the fund is built to eat the first 15% of the reference ETF's price decline over the outcome period.ftportfolios.com
  • March is just one door. Twelve siblings (GJAN through GDEC) run the same 15% recipe on different start months, so entry dates can be laddered rather than guessed.ftportfolios.com
  • The rules are printed before you commit: buffer size, reference asset (SPY price return) and the exact outcome start and end dates all come from First Trust's own documents.ftportfolios.com
  • PSMO Charges 0.49% a year versus a 0.79% median across its 15%-buffer peer group, one of the lower-cost ways to own this structure.
  • Pacer's moderate SOS funds (PSMD, PSMR, PSMJ) all price at 0.49%, while the Innovator power-buffer lineup (POCT, PJUL, PJAN) runs 0.79%.
  • The reference asset is the SPDR S&P 500 ETF Trust itself, not an abstract index, so what's being buffered is a fund you can watch tick by tick.paceretfs.com

Worth knowing

  • GMAR The 0.85% fee runs above the middle of the buffer peer group, and a laddered alternative like BUFF charges 0.10% for a broadly similar job.
  • It tracks SPY's price return, so dividends sit outside the deal, and there are no fund distributions either. Buy or sell mid-period and you get only part of the buffer and cap.
  • Volume is thin next to the headline buffer funds, so the bid-ask spread is worth a look before trading.
  • PSMO Buffer and cap are engineered for the full one-year outcome period running October through September. Buy or sell mid-period and you may get neither in full.paceretfs.com
  • Upside stops at a cap reset each October. A runaway rally in the S&P 500 is the scenario this structure hands back in exchange for the 15% cushion.paceretfs.com
  • One of the quieter tickers in the buffer aisle, so spreads and order type matter more here than with the category's household names.

Full GMAR profile⁠

Full PSMO profile⁠

GMAR vs PSMO 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.

GMAR vs PSMO Cost

Overpaying GMAR vs PSMO

$6,407

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

  • GMAR 0.85%

    $16,199

  • PSMO 0.49%

    $9,792

$10,000
30 years

Cost over time

  • GMAR 0.85%
  • PSMO 0.49%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530GMAR $16,199PSMO $9,792

Year by year

YearGMARPSMOOverpaying
10$1,508$883$625
20$5,706$3,394$2,312
30$16,199$9,792$6,407

Expense ratio

  • 0.85%GMAR
  • 0.49%PSMO, cheaper
  • Middle half of S&P 500 Buffer 15% funds
  • Median 0.79%

PSMO 5th cheapest of 51 funds

GMAR 37th cheapest of 51 funds

GMAR vs PSMO Dividends

Last 12 months to Nov 9, 2026
Payout (12M)
GMAR None
PSMO None

Distribution history

GMARAll GMAR payments⁠

No distribution history available.

PSMOAll PSMO payments⁠

No distribution history available.

GMAR vs PSMO Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
GMAR 4.8%, betterPSMO 5.9%
Return per unit of riskSharpe ratio, 3 years
GMAR 1.64, betterPSMO 1.31
Worst fallMax drawdown, 5 years
GMAR −9.1%since Mar 2023PSMO −9.8%
Market sensitivityBeta, 5 years
GMAR 0.34PSMO 0.41

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