Bug, feature request, or proposal:

Bug

What is the expected behavior?

Ripple should not overflow round button and work like md- prefix

What is the current behavior?

Ripple exceeds round button and goes out into a square. I also notice this on icon buttons

What are the steps to reproduce?

Use the mat- prefix for fabs or icon buttons

Providing a Plunker (or similar) is the best way to get the team to see your issue.
https://plnkr.co/edit/9iOVu9SPc0qT04Muhiv8?p=preview

What is the use-case or motivation for changing an existing behavior?

Broken

Which versions of Angular, Material, OS, browsers are affected?

Current beta.2

Is there anything else we should know?

No