DMAY vs. AVIE

Last updated Apr 1, 2026

Compare and contrast key facts about FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) and Avantis Inflation Focused Equity ETF (AVIE).

DMAY and AVIE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. DMAY is a passively managed fund by First Trust that tracks the performance of the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. It was launched on May 15, 2020. AVIE is an actively managed fund by Avantis. It was launched on Sep 27, 2022.

Performance

DMAY vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

DMAY vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	-0.69%	11.05%	12.82%	15.40%	3.20%
AVIE Avantis Inflation Focused Equity ETF	11.28%	11.37%	6.17%	4.19%	14.70%

Returns By Period

In the year-to-date period, DMAY achieves a -0.69% return, which is significantly lower than AVIE's 11.28% return.

DMAY

• 1D: 1.73%
• 1M: -1.45%
• YTD: -0.69%
• 6M: 1.37%
• 1Y: 13.46%
• 3Y*: 11.21%
• 5Y*: 6.28%
• 10Y*: —

AVIE

• 1D: 0.70%
• 1M: -2.00%
• YTD: 11.28%
• 6M: 16.70%
• 1Y: 15.15%
• 3Y*: 12.31%
• 5Y*: —
• 10Y*: —

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

DMAY vs. AVIE - Expense Ratio Comparison

DMAY has a 0.85% expense ratio, which is higher than AVIE's 0.25% expense ratio.

DMAY

FT Cboe Vest U.S. Equity Deep Buffer ETF - May

AVIE

Avantis Inflation Focused Equity ETF

Return for Risk

DMAY vs. AVIE — Risk / Return Rank

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

DMAY

DMAY Risk / Return Rank: 71
DMAY Sharpe Ratio Rank: 70
DMAY Sortino Ratio Rank: 73
DMAY Omega Ratio Rank: 88
DMAY Calmar Ratio Rank: 53
DMAY Martin Ratio Rank: 71

AVIE

AVIE Risk / Return Rank: 54
AVIE Sharpe Ratio Rank: 59
AVIE Sortino Ratio Rank: 56
AVIE Omega Ratio Rank: 59
AVIE Calmar Ratio Rank: 55
AVIE Martin Ratio Rank: 42

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.

DMAY vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	DMAY	AVIE	Difference
Sharpe ratio Return per unit of total volatility	1.26	1.04	+0.22
Sortino ratio Return per unit of downside risk	1.86	1.44	+0.42
Omega ratio Gain probability vs. loss probability	1.37	1.22	+0.15
Calmar ratio Return relative to maximum drawdown	1.39	1.40	-0.02
Martin ratio Return relative to average drawdown	7.42	4.02	+3.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DMAY vs. AVIE - Sharpe Ratio Comparison

The current DMAY Sharpe Ratio is 1.26, which is comparable to the AVIE Sharpe Ratio of 1.04. The chart below compares the historical Sharpe Ratios of DMAY and AVIE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	DMAY	AVIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.26	1.04	+0.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.70	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.78	1.06	-0.28

Correlation

The correlation between DMAY and AVIE is 0.54, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

DMAY vs. AVIE - Dividend Comparison

DMAY has not paid dividends to shareholders, while AVIE's dividend yield for the trailing twelve months is around 1.47%.

	TTM	2025	2024	2023	2022
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%	0.00%	0.00%	0.00%
AVIE Avantis Inflation Focused Equity ETF	1.47%	1.75%	1.89%	3.72%	0.39%

Drawdowns

DMAY vs. AVIE - Drawdown Comparison

The maximum DMAY drawdown since its inception was -13.90%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for DMAY and AVIE.

Drawdown Indicators

	DMAY	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-13.90%	-12.39%	-1.51%
Max Drawdown (1Y) Largest decline over 1 year	-8.16%	-11.53%	+3.37%
Max Drawdown (5Y) Largest decline over 5 years	-13.90%	—	—
Current Drawdown Current decline from peak	-1.69%	-2.09%	+0.40%
Average Drawdown Average peak-to-trough decline	-2.30%	-3.10%	+0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.58%	4.02%	-2.44%

Volatility

DMAY vs. AVIE - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) is 2.88%, while Avantis Inflation Focused Equity ETF (AVIE) has a volatility of 3.07%. This indicates that DMAY experiences smaller price fluctuations and is considered to be less risky than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DMAY	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	3.07%	-0.19%
Volatility (6M) Calculated over the trailing 6-month period	3.91%	7.36%	-3.45%
Volatility (1Y) Calculated over the trailing 1-year period	10.87%	14.66%	-3.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.00%	13.10%	-4.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.53%	13.10%	-4.57%