BRCE vs. FMAY

Last updated Aug 1, 2026

BRCE (MFS Blended Research Core Equity ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both exchange-traded funds - BRCE is a Large Cap Blend Equities fund actively managed by MFS, while FMAY is a Defined Outcome fund tracking the Cboe S&P 500 Buffer Protect Index May Series. BRCE is actively managed, while FMAY is passively managed. Their correlation of 0.90 means they have usually moved in the same direction. BRCE charges 0.24%/yr vs 0.85%/yr for FMAY.

Performance

BRCE vs. FMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Blended Research Core Equity ETF (BRCE) 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, BRCE achieves a 14.35% return, which is significantly higher than FMAY's 5.43% return.

BRCE

• 1D: 0.69%
• 1M: 1.38%
• 6M: 11.17%
• YTD: 14.35%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FMAY

• 1D: 0.48%
• 1M: 0.39%
• 6M: 4.78%
• YTD: 5.43%
• 1Y: 12.00%
• 3Y*: 12.48%
• 5Y*: 9.00%
• 10Y*: —
• ALL TIME*: 10.05%

*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)
BRCE MFS Blended Research Core Equity ETF	$4.38K	$9.51K	$34.09K
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	$1.41M	$1.35M	$5.09M

BRCE vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025
BRCE MFS Blended Research Core Equity ETF	14.35%	2.04%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	5.43%	1.91%

Correlation

The correlation between BRCE and FMAY is 0.90, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (All Time) Calculated using the full available price history since Oct 22, 2025	0.90

Return for Risk

BRCE vs. FMAY — Risk / Return Rank

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

BRCE

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

FMAY

FMAY Risk / Return Rank: 77
FMAY Sharpe Ratio Rank: 71
FMAY Sortino Ratio Rank: 72
FMAY Omega Ratio Rank: 79
FMAY Calmar Ratio Rank: 75
FMAY Martin Ratio Rank: 88

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.

BRCE vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Blended Research Core Equity ETF (BRCE) 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.

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.

	BRCE	FMAY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.63	—
Sortino ratio: Return per unit of downside risk	—	2.33	—
Omega ratio: Gain probability vs. loss probability	—	1.33	—
Calmar ratio: Return relative to maximum drawdown	—	2.65	—
Martin ratio: Return relative to average drawdown	—	13.18	—

Drawdowns

BRCE vs. FMAY - Drawdown Comparison

The maximum BRCE drawdown since its inception was -8.77%, smaller than the maximum FMAY drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for BRCE and FMAY.

Drawdown Indicators

	BRCE	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-8.77%	-13.60%	+4.83%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.22%	—
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	-0.65%	-0.48%	-0.17%
Average Drawdown Average peak-to-trough decline	-1.47%	-1.98%	+0.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.85%	—

Volatility

Volatility by Period

	BRCE	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.40%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.85%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	6.86%	+7.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.19%	10.68%	+3.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.19%	10.14%	+4.05%

BRCE vs. FMAY - Expense Ratio Comparison

BRCE has a 0.24% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

BRCE vs. FMAY - Dividend Comparison

BRCE's dividend yield for the trailing twelve months is around 0.51%, while FMAY has not paid dividends to shareholders.

Position	TTM	2025
BRCE MFS Blended Research Core Equity ETF	0.51%	0.19%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%

Frequently Asked Questions

Can I hold both BRCE and FMAY in my portfolio?

With a correlation of 0.90, BRCE and FMAY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, BRCE or FMAY?

On fees, BRCE is cheaper at 0.24% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, BRCE or FMAY?

BRCE is cheaper with a 0.24% expense ratio, compared with 0.85% for FMAY.

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

BRCE has the higher dividend yield at 0.51%, compared with 0.00% for FMAY.

What is the main difference between BRCE and FMAY?

BRCE is categorized as Large Cap Blend Equities, while FMAY is Defined Outcome. They also come from different issuers: MFS and First Trust. Their fees differ too: 0.24% for BRCE and 0.85% for FMAY.