DMAY vs. BUFX

Last updated Jun 4, 2026

DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) and BUFX (FT Vest Laddered Enhance & Moderate Buffer ETF) are both exchange-traded funds - DMAY is a Large Cap Blend Equities fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index, while BUFX is a Defined Outcome fund managed by First Trust. Their correlation of 0.85 suggests significant overlap in exposure. DMAY charges 0.85%/yr vs 0.96%/yr for BUFX.

Performance

DMAY vs. BUFX - 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 FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DMAY achieves a 4.42% return, which is significantly higher than BUFX's 4.10% return.

DMAY

• 1D: -0.30%
• 1M: 1.30%
• YTD: 4.42%
• 6M: 5.19%
• 1Y: 12.37%
• 3Y*: 11.96%
• 5Y*: 7.16%
• 10Y*: —

BUFX

• 1D: -0.05%
• 1M: 1.35%
• YTD: 4.10%
• 6M: 4.88%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DMAY vs. BUFX - Yearly Performance Comparison

	2026 (YTD)	2025
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.42%	6.43%
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	4.10%	5.62%

Correlation

The correlation between DMAY and BUFX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 26, 2025	0.85

Return for Risk

DMAY vs. BUFX — Risk / Return Rank

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

DMAY

DMAY Risk / Return Rank: 85
DMAY Sharpe Ratio Rank: 82
DMAY Sortino Ratio Rank: 88
DMAY Omega Ratio Rank: 91
DMAY Calmar Ratio Rank: 75
DMAY Martin Ratio Rank: 92

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. BUFX - 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 FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). 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	BUFX	Difference
Sharpe ratio Return per unit of total volatility	2.65	—	—
Sortino ratio Return per unit of downside risk	4.00	—	—
Omega ratio Gain probability vs. loss probability	1.60	—	—
Calmar ratio Return relative to maximum drawdown	3.73	—	—
Martin ratio Return relative to average drawdown	22.76	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	DMAY	BUFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.65	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.88	2.68	-1.81

Drawdowns

DMAY vs. BUFX - Drawdown Comparison

The maximum DMAY drawdown since its inception was -13.90%, which is greater than BUFX's maximum drawdown of -2.87%. Use the drawdown chart below to compare losses from any high point for DMAY and BUFX.

Drawdown Indicators

	DMAY	BUFX	Difference
Max Drawdown Largest peak-to-trough decline	-13.90%	-2.87%	-11.03%
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	-0.30%	-0.07%	-0.23%
Average Drawdown Average peak-to-trough decline	-2.24%	-0.24%	-2.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	—	—

Volatility

Volatility by Period

	DMAY	BUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.84%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.74%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.73%	3.98%	+0.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.02%	3.98%	+5.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.43%	3.98%	+4.45%

DMAY vs. BUFX - Expense Ratio Comparison

DMAY has a 0.85% expense ratio, which is lower than BUFX's 0.96% expense ratio.

Dividends

DMAY vs. BUFX - Dividend Comparison

Neither DMAY nor BUFX has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DMAY and BUFX in my portfolio?

DMAY and BUFX have a correlation of 0.85, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, DMAY or BUFX?

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, DMAY or BUFX?

DMAY is cheaper with a 0.85% expense ratio, compared with 0.96% for BUFX.

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

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

What is the main difference between DMAY and BUFX?

DMAY is categorized as Large Cap Blend Equities, while BUFX is Defined Outcome. Their fees differ too: 0.85% for DMAY and 0.96% for BUFX.