BGDV vs. FMAY

Last updated Jun 4, 2026

BGDV (Bahl & Gaynor Dividend ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds. BGDV is actively managed, while FMAY is passively managed. Over the past year, BGDV returned 24.61% vs 15.38% for FMAY. A 0.79 correlation means they provide meaningful diversification when combined. BGDV charges 0.45%/yr vs 0.85%/yr for FMAY.

Performance

BGDV vs. FMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Bahl & Gaynor Dividend ETF (BGDV) and FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGDV achieves a 11.64% return, which is significantly higher than FMAY's 5.39% return.

BGDV

• 1D: 0.30%
• 1M: 1.79%
• YTD: 11.64%
• 6M: 11.74%
• 1Y: 24.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAY

• 1D: -0.38%
• 1M: 1.63%
• YTD: 5.39%
• 6M: 6.32%
• 1Y: 15.38%
• 3Y*: 14.13%
• 5Y*: 9.48%
• 10Y*: —

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

BGDV vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BGDV Bahl & Gaynor Dividend ETF	11.64%	13.74%	-1.86%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	5.39%	12.69%	-1.14%

Correlation

The correlation between BGDV and FMAY is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.76
Correlation (All Time) Calculated using the full available price history since Dec 13, 2024	0.79

The correlation between BGDV and FMAY has been stable across timeframes, ranging from 0.76 to 0.79 - a consistent structural relationship.

Return for Risk

BGDV vs. FMAY — Risk / Return Rank

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

BGDV

BGDV Risk / Return Rank: 68
BGDV Sharpe Ratio Rank: 68
BGDV Sortino Ratio Rank: 70
BGDV Omega Ratio Rank: 68
BGDV Calmar Ratio Rank: 60
BGDV Martin Ratio Rank: 72

FMAY

FMAY Risk / Return Rank: 83
FMAY Sharpe Ratio Rank: 79
FMAY Sortino Ratio Rank: 85
FMAY Omega Ratio Rank: 87
FMAY Calmar Ratio Rank: 74
FMAY Martin Ratio Rank: 91

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.

BGDV vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Bahl & Gaynor Dividend ETF (BGDV) and FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY). 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.

	BGDV	FMAY	Difference
Sharpe ratio Return per unit of total volatility	2.22	2.56	-0.34
Sortino ratio Return per unit of downside risk	3.15	3.80	-0.65
Omega ratio Gain probability vs. loss probability	1.40	1.54	-0.14
Calmar ratio Return relative to maximum drawdown	2.94	3.66	-0.72
Martin ratio Return relative to average drawdown	13.33	21.48	-8.16
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGDV vs. FMAY - Sharpe Ratio Comparison

The current BGDV Sharpe Ratio is 2.22, which is comparable to the FMAY Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of BGDV and FMAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BGDV	FMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.22	2.56	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	1.02	+0.06

Drawdowns

BGDV vs. FMAY - Drawdown Comparison

The maximum BGDV drawdown since its inception was -14.80%, which is greater than FMAY's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for BGDV and FMAY.

Drawdown Indicators

	BGDV	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-14.80%	-13.60%	-1.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.41%	-4.22%	-4.19%
Max Drawdown (3Y) Largest decline over 3 years	—	-13.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.60%	—
Current Drawdown Current decline from peak	0.00%	-0.38%	+0.38%
Average Drawdown Average peak-to-trough decline	-2.15%	-2.01%	-0.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.85%	0.72%	+1.13%

Volatility

BGDV vs. FMAY - Volatility Comparison

Bahl & Gaynor Dividend ETF (BGDV) has a higher volatility of 2.56% compared to FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) at 1.02%. This indicates that BGDV's price experiences larger fluctuations and is considered to be riskier than FMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGDV	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.56%	1.02%	+1.54%
Volatility (6M) Calculated over the trailing 6-month period	8.42%	4.59%	+3.83%
Volatility (1Y) Calculated over the trailing 1-year period	11.13%	6.04%	+5.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.13%	10.59%	+4.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.13%	10.15%	+4.98%

BGDV vs. FMAY - Expense Ratio Comparison

BGDV has a 0.45% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

BGDV vs. FMAY - Dividend Comparison

BGDV's dividend yield for the trailing twelve months is around 0.99%, while FMAY has not paid dividends to shareholders.

Position	TTM	2025	2024
BGDV Bahl & Gaynor Dividend ETF	0.99%	1.13%	0.09%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BGDV and FMAY in my portfolio?

BGDV and FMAY have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGDV or FMAY?

BGDV has higher volatility (2.56%) compared to FMAY (1.02%). In terms of maximum drawdown, BGDV dropped -14.80% vs FMAY's -13.60%.

Which ETF is better, BGDV or FMAY?

On 1-year performance, BGDV leads with 24.61% vs 15.38% for FMAY. On fees, BGDV is cheaper at 0.45% per year. On volatility, FMAY has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGDV or FMAY?

Over the 1-year period, BGDV has performed better with a 24.61% return vs 15.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGDV or FMAY?

BGDV is cheaper with a 0.45% expense ratio, compared with 0.85% for FMAY.

Which ETF pays a higher dividend yield, BGDV or FMAY?

BGDV has the higher dividend yield at 0.99%, compared with 0.00% for FMAY.

What is the main difference between BGDV and FMAY?

They also come from different issuers: Bahl & Gaynor and First Trust. Their fees differ too: 0.45% for BGDV and 0.85% for FMAY.

Which has better risk-adjusted returns?

FMAY currently has the higher Sharpe Ratio (2.56 vs 2.22), 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.