ACEP vs. DMAY

Last updated Jun 24, 2026

ACEP (ARS Core Equity Portfolio ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds. ACEP is actively managed, while DMAY is passively managed. A 0.71 correlation means they provide meaningful diversification when combined. ACEP charges 0.45%/yr vs 0.85%/yr for DMAY.

Performance

ACEP vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ARS Core Equity Portfolio ETF (ACEP) 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, ACEP achieves a 21.62% return, which is significantly higher than DMAY's 3.36% return.

ACEP

• 1D: -1.50%
• 1M: 1.11%
• YTD: 21.62%
• 6M: 20.24%
• 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)

ACEP vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025
ACEP ARS Core Equity Portfolio ETF	21.62%	8.00%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	3.36%	2.76%

Correlation

The correlation between ACEP and DMAY is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Nov 21, 2025	0.71

ACEP vs. DMAY - Sectors Allocation Comparison

Sectors	ACEP	DMAY
Technology	34.9%	39.0%
Financial Services	14.2%	11.1%
Basic Materials	12.5%	1.7%
Energy	12.2%	3.1%
Industrials	10.7%	7.8%
Healthcare	7.2%	8.3%
Consumer Cyclical	2.9%	9.9%
Consumer Defensive	2.2%	4.5%
Real Estate	2.0%	1.8%
Communication Services	1.2%	10.6%
Utilities	-	2.1%

Return for Risk

ACEP vs. DMAY — Risk / Return Rank

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

ACEP

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.

ACEP vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ARS Core Equity Portfolio ETF (ACEP) 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.

	ACEP	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

ACEP vs. DMAY - Drawdown Comparison

The maximum ACEP drawdown since its inception was -7.06%, smaller than the maximum DMAY drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for ACEP and DMAY.

Drawdown Indicators

	ACEP	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-7.06%	-13.90%	+6.84%
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	-2.87%	-1.31%	-1.56%
Average Drawdown Average peak-to-trough decline	-1.49%	-2.23%	+0.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.60%	—

Volatility

Volatility by Period

	ACEP	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	17.81%	5.09%	+12.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.81%	9.07%	+8.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.81%	8.43%	+9.38%

ACEP vs. DMAY - Expense Ratio Comparison

ACEP has a 0.45% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

ACEP vs. DMAY - Dividend Comparison

ACEP's dividend yield for the trailing twelve months is around 0.11%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025
ACEP ARS Core Equity Portfolio ETF	0.11%	0.14%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%

Frequently Asked Questions

Can I hold both ACEP and DMAY in my portfolio?

ACEP and DMAY have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, ACEP or DMAY?

On fees, ACEP is cheaper at 0.45% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, ACEP or DMAY?

ACEP is cheaper with a 0.45% expense ratio, compared with 0.85% for DMAY.

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

ACEP has the higher dividend yield at 0.11%, compared with 0.00% for DMAY.

What is the main difference between ACEP and DMAY?

They also come from different issuers: ARS Investment Partners and First Trust. Their fees differ too: 0.45% for ACEP and 0.85% for DMAY.