ALRG vs. DMAY

Last updated Jul 15, 2026

ALRG (Allspring LT Large Core ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both exchange-traded funds - ALRG is a Large Cap Blend Equities fund actively managed by Allspring, while DMAY is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. ALRG is actively managed, while DMAY is passively managed. Over the past year, ALRG returned 21.50% vs 10.14% for DMAY. Their correlation of 0.90 suggests significant overlap in exposure. ALRG charges 0.28%/yr vs 0.85%/yr for DMAY.

Performance

ALRG vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Allspring LT Large Core ETF (ALRG) 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, ALRG achieves a 9.57% return, which is significantly higher than DMAY's 4.64% return.

ALRG

• 1D: 0.12%
• 1M: 2.22%
• 6M: 7.88%
• YTD: 9.57%
• 1Y: 21.50%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: 0.25%
• 1M: 0.97%
• 6M: 4.18%
• YTD: 4.64%
• 1Y: 10.14%
• 3Y*: 11.11%
• 5Y*: 6.96%
• 10Y*: —

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

ALRG vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025
ALRG Allspring LT Large Core ETF	9.57%	11.78%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.64%	5.51%

Correlation

The correlation between ALRG 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 (1Y) Calculated over the trailing 1-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jul 8, 2025	0.90

The correlation between ALRG and DMAY has been stable across timeframes, ranging from 0.90 to 0.90 - a consistent structural relationship.

ALRG vs. DMAY - Sectors Allocation Comparison

Sectors	ALRG	DMAY
Technology	33.6%	39.0%
Financial Services	13.1%	11.1%
Industrials	11.3%	7.8%
Communication Services	10.1%	10.6%
Consumer Cyclical	9.4%	9.9%
Healthcare	6.7%	8.3%
Energy	2.3%	3.1%
Consumer Defensive	2.2%	4.5%
Basic Materials	0.8%	1.7%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

ALRG vs. DMAY — Risk / Return Rank

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

ALRG

ALRG Risk / Return Rank: 63
ALRG Sharpe Ratio Rank: 65
ALRG Sortino Ratio Rank: 64
ALRG Omega Ratio Rank: 61
ALRG Calmar Ratio Rank: 58
ALRG Martin Ratio Rank: 67

DMAY

DMAY Risk / Return Rank: 82
DMAY Sharpe Ratio Rank: 77
DMAY Sortino Ratio Rank: 82
DMAY Omega Ratio Rank: 87
DMAY Calmar Ratio Rank: 75
DMAY Martin Ratio Rank: 90

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.

ALRG vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Allspring LT Large Core ETF (ALRG) 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.

	ALRG	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.70	1.95	-0.26
Sortino ratio: Return per unit of downside risk	2.39	2.91	-0.52
Omega ratio: Gain probability vs. loss probability	1.30	1.42	-0.12
Calmar ratio: Return relative to maximum drawdown	2.33	3.06	-0.73
Martin ratio: Return relative to average drawdown	9.59	16.03	-6.44

ALRG vs. DMAY - Sharpe Ratio Comparison

The current ALRG Sharpe Ratio is 1.70, which is comparable to the DMAY Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of ALRG and DMAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

ALRG vs. DMAY - Drawdown Comparison

The maximum ALRG drawdown since its inception was -9.27%, smaller than the maximum DMAY drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for ALRG and DMAY.

Drawdown Indicators

	ALRG	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-9.27%	-13.90%	+4.63%
Max Drawdown (1Y) Largest decline over 1 year	-9.27%	-3.36%	-5.91%
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	-0.50%	-0.08%	-0.42%
Average Drawdown Average peak-to-trough decline	-1.40%	-2.21%	+0.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.25%	0.64%	+1.61%

Volatility

ALRG vs. DMAY - Volatility Comparison

Allspring LT Large Core ETF (ALRG) has a higher volatility of 3.36% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 2.18%. This indicates that ALRG's price experiences larger fluctuations and is considered to be riskier than DMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	ALRG	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.36%	2.18%	+1.18%
Volatility (6M) Calculated over the trailing 6-month period	10.01%	4.56%	+5.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.73%	5.26%	+7.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	9.09%	+3.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.65%	8.42%	+4.23%

ALRG vs. DMAY - Expense Ratio Comparison

ALRG has a 0.28% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

ALRG vs. DMAY - Dividend Comparison

ALRG's dividend yield for the trailing twelve months is around 0.43%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025
ALRG Allspring LT Large Core ETF	0.43%	0.47%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%

Frequently Asked Questions

Can I hold both ALRG and DMAY in my portfolio?

ALRG and DMAY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, ALRG or DMAY?

ALRG has higher volatility (3.36%) compared to DMAY (2.18%). In terms of maximum drawdown, ALRG dropped -9.27% vs DMAY's -13.90%.

Which ETF is better, ALRG or DMAY?

On 1-year performance, ALRG leads with 21.50% vs 10.14% for DMAY. On fees, ALRG is cheaper at 0.28% per year. On volatility, DMAY has been the lower-risk option at 2.18%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, ALRG or DMAY?

Over the 1-year period, ALRG has performed better with a 21.50% return vs 10.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, ALRG or DMAY?

ALRG is cheaper with a 0.28% expense ratio, compared with 0.85% for DMAY.

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

ALRG has the higher dividend yield at 0.43%, compared with 0.00% for DMAY.

What is the main difference between ALRG and DMAY?

ALRG is categorized as Large Cap Blend Equities, while DMAY is Defined Outcome. They also come from different issuers: Allspring and First Trust. Their fees differ too: 0.28% for ALRG and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (1.95 vs 1.70), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.