AVRY vs. DMAY

Last updated Jun 25, 2026

AVRY (Avory Foundational ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds. AVRY is actively managed, while DMAY is passively managed. A 0.62 correlation means they provide meaningful diversification when combined. AVRY charges 0.89%/yr vs 0.85%/yr for DMAY.

Performance

AVRY vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avory Foundational ETF (AVRY) 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

AVRY

• 1D: 1.17%
• 1M: -3.32%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.16%
• 1M: -0.56%
• YTD: 3.20%
• 6M: 3.06%
• 1Y: 9.84%
• 3Y*: 11.21%
• 5Y*: 6.75%
• 10Y*: —

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

AVRY vs. DMAY - Yearly Performance Comparison

	2026 (YTD)
AVRY Avory Foundational ETF	-8.64%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	2.92%

Correlation

The correlation between AVRY and DMAY is 0.62, 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 Jan 22, 2026	0.62

AVRY vs. DMAY - Sectors Allocation Comparison

Sectors	AVRY	DMAY
Technology	43.5%	39.0%
Consumer Cyclical	20.1%	9.9%
Communication Services	11.8%	10.6%
Industrials	10.3%	7.8%
Financial Services	6.6%	11.1%
Healthcare	6.0%	8.3%
Utilities	1.7%	2.1%
Basic Materials	-	1.7%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Real Estate	-	1.8%

Return for Risk

AVRY vs. DMAY — Risk / Return Rank

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

AVRY

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

DMAY

DMAY Risk / Return Rank: 76
DMAY Sharpe Ratio Rank: 70
DMAY Sortino Ratio Rank: 73
DMAY Omega Ratio Rank: 82
DMAY Calmar Ratio Rank: 67
DMAY Martin Ratio Rank: 87

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.

AVRY vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avory Foundational ETF (AVRY) 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.

	AVRY	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.98	—
Sortino ratio: Return per unit of downside risk	—	2.88	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	2.96	—
Martin ratio: Return relative to average drawdown	—	16.35	—

Drawdowns

AVRY vs. DMAY - Drawdown Comparison

The maximum AVRY drawdown since its inception was -21.58%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for AVRY and DMAY.

Drawdown Indicators

	AVRY	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-21.58%	-13.90%	-7.68%
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	-11.13%	-1.47%	-9.66%
Average Drawdown Average peak-to-trough decline	-11.66%	-2.23%	-9.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.61%	—

Volatility

Volatility by Period

	AVRY	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	28.25%	5.08%	+23.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	28.25%	9.06%	+19.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	28.25%	8.43%	+19.82%

AVRY vs. DMAY - Expense Ratio Comparison

AVRY has a 0.89% expense ratio, which is higher than DMAY's 0.85% expense ratio.

Dividends

AVRY vs. DMAY - Dividend Comparison

Neither AVRY nor DMAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both AVRY and DMAY in my portfolio?

AVRY and DMAY have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, AVRY or DMAY?

On fees, DMAY is cheaper at 0.85% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, AVRY or DMAY?

DMAY is cheaper with a 0.85% expense ratio, compared with 0.89% for AVRY.

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

AVRY and DMAY have nearly identical dividend yields, around 0.00%.

What is the main difference between AVRY and DMAY?

They also come from different issuers: Avory & Co. and First Trust. Their fees differ too: 0.89% for AVRY and 0.85% for DMAY.