FT Vest U.S. Small Cap Moderate Buffer ETF - May (SMAY) 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 SMAY. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to SMAY
SMAY charges 0.90% annually. There are 278 ETFs in the Defined Outcome category with lower expense ratios, going as low as 0.25%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | SMAY vs JANB | |
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | SMAY vs OCTB | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | SMAY vs JULB | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | SMAY vs APRB | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 | SMAY vs FBUF |
Best Risk-Adjusted Alternatives to SMAY
SMAY has a PortfoliosLab risk / return rank of 92. There are 79 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 | SMAY vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | SMAY vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | SMAY vs MMAX | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | SMAY vs ZAPR | |
| Calamos Russell 2000 Structured Alt Protection ETF... | 98 | 13.20M | Apr 2025 | SMAY vs CPRA |
Top Performing SMAY Alternatives (YTD)
SMAY is at 8.22% YTD. There are 47 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 | SMAY vs NVDO | |
| ProShares Nasdaq-100 Dynamic Daily Buffer ETF | 13.84% | 2.87M | Jun 2025 | SMAY vs QB | |
| Innovator U.S. Small Cap Power Buffer ETF - Februa... | 13.73% | — | Jan 2025 | SMAY vs KFEB | |
| Innovator Russell 2000 Power Buffer ETF - April | 13.09% | 214.27M | Mar 2020 | SMAY vs KAPR | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.91% | 566.25M | Mar 2021 | SMAY vs QMAR |
Lowest Volatility Alternatives to SMAY
SMAY has 7.46% 1-year volatility. There are 197 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 | SMAY vs PMAP | |
| FT Vest U.S. Equity Max Buffer ETF - April | 1.33% | — | Apr 2025 | SMAY vs APXM | |
| PGIM S&P 500 Max Buffer ETF - May | 1.40% | — | Apr 2025 | SMAY vs PMMY | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 1.40% | 21.00M | Apr 2025 | SMAY vs CPSP | |
| iShares Large Cap Max Buffer Mar ETF | 1.44% | — | Mar 2025 | SMAY vs MMAX |
Lowest Drawdown Alternatives to SMAY
SMAY has a 1-year max drawdown of -3.00%. There are 88 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 | SMAY vs PMAP | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | -0.37% | 21.00M | Apr 2025 | SMAY vs CPSP | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | -0.40% | — | Apr 2025 | SMAY vs ZAPR | |
| iShares Large Cap Max Buffer Mar ETF | -0.46% | — | Mar 2025 | SMAY vs MMAX | |
| Calamos S&P 500 Structured Alt Protection ETF - Ma... | -0.49% | 56.60M | May 2024 | SMAY vs CPSM |
Other ETFs from First Trust
The 10 most viewed First Trust ETFs shown here include CIBR, GRID, AIRR and span 16 categories. AUM among these funds goes as high as $14B.
Often Compared With SMAY
Investors most often compare SMAY with ZMAY, TMAR, IBIC. These 18 comparison targets span 9 categories, based on PortfoliosLab usage data.
Compare SMAY with Any Fund or Stock
Compare SMAY with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair SMAY with funds that move differently
FT Vest U.S. Small Cap Moderate Buffer ETF - May alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to SMAY.
Explore SMAY Diversifiers