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FT Vest U.S. Small Cap Moderate Buffer ETF - May (...
Performance
Return for Risk
Dividends
Drawdowns
Volatility

FT Vest U.S. Small Cap Moderate Buffer ETF - May (SMAY)

ETF · Currency in USD · Last updated Apr 3, 2026

SMAY is an actively managed ETF by First Trust. SMAY launched on May 19, 2023 and has a 0.90% expense ratio.

ETF Info

ISIN
US33740F4660
CUSIP
33740F466
Issuer
First Trust
Inception Date
May 19, 2023
Region
North America (U.S.)
Category
Defined Outcome
Leveraged
1x (No leverage)
Index Tracked
No Index (Active)
Domicile
United States
Distribution Policy
Accumulating
Asset Class
Alternatives
Asset Class Size
Small-Cap
Asset Class Style
Blend

Share Price Chart

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FT Vest U.S. Small Cap Moderate Buffer ETF - May

Performance

Performance Chart

The chart shows the growth of an initial investment of $10,000 in FT Vest U.S. Small Cap Moderate Buffer ETF - May, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

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S&P 500 Index

Returns By Period

FT Vest U.S. Small Cap Moderate Buffer ETF - May (SMAY) has returned 1.88% so far this year and 12.05% over the past 12 months.

FT Vest U.S. Small Cap Moderate Buffer ETF - May

1D
0.29%
1M
0.02%
YTD
1.88%
6M
4.09%
1Y
12.05%
3Y*
—
5Y*
—
10Y*
—

Benchmark (S&P 500 Index)

1D
0.11%
1M
-3.43%
YTD
-3.84%
6M
-1.98%
1Y
16.08%
3Y*
16.86%
5Y*
10.37%
10Y*
12.29%
*Multi-year figures are annualized to reflect compound growth (CAGR)

Monthly Returns

Based on dividend-adjusted daily data since May 22, 2023, SMAY's average daily return is +0.04%, while the average monthly return is +0.79%. At this rate, your investment would double in approximately 7.3 years.

Historically, 64% of months were positive and 36% were negative. The best month was Dec 2023 with a return of +6.7%, while the worst month was Mar 2025 at -3.9%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.

On a daily basis, SMAY closed higher 52% of trading days. The best single day was Apr 9, 2025 with a return of +4.3%, while the worst single day was Apr 3, 2025 at -2.7%.

JanFebMarAprMayJunJulAugSepOctNovDecTotal
20261.44%0.55%-0.67%0.56%1.88%
20252.11%-3.57%-3.93%-0.77%0.09%2.92%0.79%3.39%1.39%0.80%0.74%0.97%4.75%
2024-1.71%3.27%2.63%-3.44%5.80%-0.43%4.60%0.01%0.71%-0.47%5.19%-3.67%12.60%
2023-1.24%4.26%2.50%-1.36%-3.37%-3.54%5.23%6.70%8.94%

Benchmark Metrics

FT Vest U.S. Small Cap Moderate Buffer ETF - May has an annualized alpha of 0.85%, beta of 0.54, and R² of 0.61 versus S&P 500 Index. Calculated based on daily prices since May 23, 2023.

  • This ETF participated in 81.78% of S&P 500 Index downside but only 63.37% of its upside — more exposed to losses than it benefited from rallies.
  • Beta of 0.54 indicates this ETF moves significantly less than S&P 500 Index — a genuinely defensive profile with reduced participation in both market rallies and downturns.
Alpha
0.85%
Beta
0.54
R²
0.61
Upside Capture
63.37%
Downside Capture
81.78%

Expense Ratio

SMAY has an expense ratio of 0.90%, placing it in the medium range.

Return for Risk

Risk / Return Rank

SMAY ranks 68 for risk / return — better than 68% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

SMAY Risk / Return Rank: 6868
Overall Rank
SMAY Sharpe Ratio Rank: 6666
Sharpe Ratio Rank
SMAY Sortino Ratio Rank: 6969
Sortino Ratio Rank
SMAY Omega Ratio Rank: 6666
Omega Ratio Rank
SMAY Calmar Ratio Rank: 5959
Calmar Ratio Rank
SMAY Martin Ratio Rank: 7878
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

Return / Risk — by metrics

The table below present risk-adjusted performance metrics for FT Vest U.S. Small Cap Moderate Buffer ETF - May (SMAY) and compare them to a chosen benchmark (S&P 500 Index).

SMAYBenchmarkDifference

Sharpe ratio

Return per unit of total volatility

1.23

0.88

+0.35

Sortino ratio

Return per unit of downside risk

1.82

1.37

+0.46

Omega ratio

Gain probability vs. loss probability

1.26

1.21

+0.05

Calmar ratio

Return relative to maximum drawdown

1.90

1.39

+0.51

Martin ratio

Return relative to average drawdown

10.37

6.43

+3.93

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Explore SMAY risk-adjusted metrics in detail

Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.

SMAY Sortino RatioSMAY Sharpe Ratio

Dividends

Dividend History

FT Vest U.S. Small Cap Moderate Buffer ETF - May doesn't pay dividends

Drawdowns

Drawdowns Chart

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

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Worst Drawdowns

The table below displays the maximum drawdowns of the FT Vest U.S. Small Cap Moderate Buffer ETF - May. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the FT Vest U.S. Small Cap Moderate Buffer ETF - May was 14.44%, occurring on Apr 8, 2025. Recovery took 165 trading sessions.

The current FT Vest U.S. Small Cap Moderate Buffer ETF - May drawdown is 0.51%.

Depth

Start

To Bottom

Bottom

To Recover

End

Total

-14.44%Dec 2, 202487Apr 8, 2025165Dec 3, 2025252
-8.99%Aug 2, 202362Oct 27, 202332Dec 13, 202394
-5.13%Jul 17, 202416Aug 7, 202430Sep 19, 202446
-4.83%Apr 1, 202414Apr 18, 202413May 7, 202427
-3.36%Dec 28, 202313Jan 17, 202418Feb 12, 202431

Volatility

Volatility Chart

The chart below shows the rolling one-month volatility.

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