BEEX vs. DMAY

Last updated Aug 1, 2026

BEEX (The BeeHive ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both exchange-traded funds - BEEX is a Large Cap Blend Equities fund actively managed by BeeHive, while DMAY is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. BEEX is actively managed, while DMAY is passively managed. Over the past year, BEEX returned 15.61% vs 9.72% for DMAY. Their correlation of 0.80 means they have usually moved in the same direction. BEEX charges 0.84%/yr vs 0.85%/yr for DMAY.

Performance

BEEX vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in The BeeHive ETF (BEEX) 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, BEEX achieves a 6.65% return, which is significantly higher than DMAY's 4.47% return.

BEEX

• 1D: 1.01%
• 1M: 2.35%
• 6M: 6.06%
• YTD: 6.65%
• 1Y: 15.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 11.00%

DMAY

• 1D: 0.40%
• 1M: 0.41%
• 6M: 3.91%
• YTD: 4.47%
• 1Y: 9.72%
• 3Y*: 10.82%
• 5Y*: 6.88%
• 10Y*: —
• ALL TIME*: 7.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BEEX The BeeHive ETF	$81.73K	$102.16K	$106.84K
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	$400.10K	$440.69K	$1.81M

BEEX vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BEEX The BeeHive ETF	6.65%	14.48%	-3.01%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.47%	11.05%	-1.17%

Correlation

The correlation between BEEX and DMAY is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.79
Correlation (All Time) Calculated using the full available price history since Dec 16, 2024	0.80

The correlation between BEEX and DMAY has been stable across timeframes, ranging from 0.79 to 0.80 - a consistent structural relationship.

Return for Risk

BEEX vs. DMAY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BEEX

BEEX Risk / Return Rank: 44
BEEX Sharpe Ratio Rank: 49
BEEX Sortino Ratio Rank: 48
BEEX Omega Ratio Rank: 45
BEEX Calmar Ratio Rank: 36
BEEX Martin Ratio Rank: 41

DMAY

DMAY Risk / Return Rank: 81
DMAY Sharpe Ratio Rank: 75
DMAY Sortino Ratio Rank: 78
DMAY Omega Ratio Rank: 83
DMAY Calmar Ratio Rank: 78
DMAY Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

BEEX vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for The BeeHive ETF (BEEX) 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.

	BEEX	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.21	1.70	-0.49
Sortino ratio: Return per unit of downside risk	1.76	2.52	-0.76
Omega ratio: Gain probability vs. loss probability	1.21	1.35	-0.14
Calmar ratio: Return relative to maximum drawdown	1.26	2.78	-1.52
Martin ratio: Return relative to average drawdown	4.50	14.06	-9.56

BEEX vs. DMAY - Sharpe Ratio Comparison

The current BEEX Sharpe Ratio is 1.21, which is comparable to the DMAY Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of BEEX 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

BEEX vs. DMAY - Drawdown Comparison

The maximum BEEX drawdown since its inception was -15.13%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for BEEX and DMAY.

Drawdown Indicators

	BEEX	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-15.13%	-13.90%	-1.23%
Max Drawdown (1Y) Largest decline over 1 year	-11.24%	-3.36%	-7.88%
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	0.00%	-0.35%	+0.35%
Average Drawdown Average peak-to-trough decline	-2.40%	-2.20%	-0.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.14%	0.66%	+2.48%

Volatility

BEEX vs. DMAY - Volatility Comparison

The BeeHive ETF (BEEX) has a higher volatility of 3.18% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 1.88%. This indicates that BEEX'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

	BEEX	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.18%	1.88%	+1.30%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	4.75%	+4.33%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	5.49%	+6.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.82%	9.10%	+5.72%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.82%	8.41%	+6.41%

BEEX vs. DMAY - Expense Ratio Comparison

BEEX has a 0.84% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

BEEX vs. DMAY - Dividend Comparison

BEEX's dividend yield for the trailing twelve months is around 0.32%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025	2024
BEEX The BeeHive ETF	0.32%	0.35%	0.27%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BEEX and DMAY in my portfolio?

BEEX and DMAY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BEEX or DMAY?

BEEX has higher volatility (3.18%) compared to DMAY (1.88%). In terms of maximum drawdown, BEEX dropped -15.13% vs DMAY's -13.90%.

Which ETF is better, BEEX or DMAY?

On 1-year performance, BEEX leads with 15.61% vs 9.72% for DMAY. On fees, BEEX is cheaper at 0.84% per year. On volatility, DMAY has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BEEX or DMAY?

Over the 1-year period, BEEX has performed better with a 15.61% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BEEX or DMAY?

BEEX is cheaper with a 0.84% expense ratio, compared with 0.85% for DMAY.

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

BEEX has the higher dividend yield at 0.32%, compared with 0.00% for DMAY.

What is the main difference between BEEX and DMAY?

BEEX is categorized as Large Cap Blend Equities, while DMAY is Defined Outcome. They also come from different issuers: BeeHive and First Trust. Their fees differ too: 0.84% for BEEX and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (1.70 vs 1.21), 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.