AAEQ vs. DMAY

Last updated Jun 24, 2026

AAEQ (Alpha Architect US Equity 2 ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds. AAEQ is actively managed, while DMAY is passively managed. Their correlation of 0.90 suggests significant overlap in exposure. AAEQ charges 0.15%/yr vs 0.85%/yr for DMAY.

Performance

AAEQ vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Alpha Architect US Equity 2 ETF (AAEQ) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AAEQ achieves a 5.97% return, which is significantly higher than DMAY's 3.36% return.

AAEQ

• 1D: -1.35%
• 1M: -1.80%
• YTD: 5.97%
• 6M: 4.57%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.56%
• 1M: -0.40%
• YTD: 3.36%
• 6M: 3.37%
• 1Y: 10.73%
• 3Y*: 11.27%
• 5Y*: 6.78%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

AAEQ vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025
AAEQ Alpha Architect US Equity 2 ETF	5.97%	-1.11%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	3.36%	0.82%

Correlation

The correlation between AAEQ and DMAY is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 10, 2025	0.90

AAEQ vs. DMAY - Sectors Allocation Comparison

Sectors	AAEQ	DMAY
Technology	40.5%	39.0%
Communication Services	12.2%	10.6%
Financial Services	11.6%	11.1%
Consumer Cyclical	9.1%	9.9%
Healthcare	9.0%	8.3%
Industrials	6.1%	7.8%
Consumer Defensive	4.5%	4.5%
Energy	2.9%	3.1%
Real Estate	1.6%	1.8%
Utilities	1.5%	2.1%
Basic Materials	1.1%	1.7%

Return for Risk

AAEQ vs. DMAY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AAEQ

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DMAY

DMAY Risk / Return Rank: 78
DMAY Sharpe Ratio Rank: 73
DMAY Sortino Ratio Rank: 77
DMAY Omega Ratio Rank: 85
DMAY Calmar Ratio Rank: 69
DMAY Martin Ratio Rank: 88

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.

AAEQ vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Alpha Architect US Equity 2 ETF (AAEQ) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	AAEQ	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.14	—
Sortino ratio: Return per unit of downside risk	—	3.13	—
Omega ratio: Gain probability vs. loss probability	—	1.47	—
Calmar ratio: Return relative to maximum drawdown	—	3.23	—
Martin ratio: Return relative to average drawdown	—	18.05	—

Drawdowns

AAEQ vs. DMAY - Drawdown Comparison

The maximum AAEQ drawdown since its inception was -10.26%, smaller than the maximum DMAY drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for AAEQ and DMAY.

Drawdown Indicators

	AAEQ	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-10.26%	-13.90%	+3.64%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.36%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.90%	—
Current Drawdown Current decline from peak	-3.43%	-1.31%	-2.12%
Average Drawdown Average peak-to-trough decline	-2.43%	-2.23%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.60%	—

Volatility

Volatility by Period

	AAEQ	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.26%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.30%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.32%	5.09%	+9.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.32%	9.07%	+5.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.32%	8.43%	+5.89%

AAEQ vs. DMAY - Expense Ratio Comparison

AAEQ has a 0.15% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

AAEQ vs. DMAY - Dividend Comparison

AAEQ's dividend yield for the trailing twelve months is around 0.09%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025
AAEQ Alpha Architect US Equity 2 ETF	0.09%	0.10%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%

Frequently Asked Questions

Can I hold both AAEQ and DMAY in my portfolio?

With a correlation of 0.90, AAEQ and DMAY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, AAEQ or DMAY?

On fees, AAEQ is cheaper at 0.15% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AAEQ or DMAY?

AAEQ is cheaper with a 0.15% expense ratio, compared with 0.85% for DMAY.

Which ETF pays a higher dividend yield, AAEQ or DMAY?

AAEQ has the higher dividend yield at 0.09%, compared with 0.00% for DMAY.

What is the main difference between AAEQ and DMAY?

They also come from different issuers: Alpha Architect and First Trust. Their fees differ too: 0.15% for AAEQ and 0.85% for DMAY.