ESMV vs. DMAY
ESMV (iShares ESG MSCI USA Min Vol Factor ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds - ESMV tracks the MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross while DMAY tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. Both are passively managed. Over the past 3 years, ESMV returned 11.27%/yr vs 11.96%/yr for DMAY. A 0.73 correlation means they provide meaningful diversification when combined. ESMV charges 0.18%/yr vs 0.85%/yr for DMAY.
Performance
ESMV vs. DMAY - Performance Comparison
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Returns By Period
In the year-to-date period, ESMV achieves a 5.28% return, which is significantly higher than DMAY's 4.42% return.
ESMV
- 1D
- -0.78%
- 1M
- 3.36%
- YTD
- 5.28%
- 6M
- 5.39%
- 1Y
- 6.76%
- 3Y*
- 11.27%
- 5Y*
- —
- 10Y*
- —
DMAY
- 1D
- -0.30%
- 1M
- 1.30%
- YTD
- 4.42%
- 6M
- 5.19%
- 1Y
- 12.37%
- 3Y*
- 11.96%
- 5Y*
- 7.16%
- 10Y*
- —
ESMV vs. DMAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 5.28% | 5.34% | 13.06% | 12.20% | -11.08% | 3.20% |
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May | 4.42% | 11.05% | 12.82% | 15.40% | -9.98% | 0.60% |
Correlation
The correlation between ESMV and DMAY is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2021 | 0.73 |
The correlation between ESMV and DMAY shifts across timeframes, from 0.60 (1 year) to 0.73 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
ESMV vs. DMAY — Risk / Return Rank
ESMV
DMAY
ESMV vs. DMAY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iShares ESG MSCI USA Min Vol Factor ETF (ESMV) 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.
| ESMV | DMAY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.98 | ||
| Sortino ratioReturn per unit of downside risk | -3.00 | ||
| Omega ratioGain probability vs. loss probability | 1.13 | 1.60 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | 0.97 | 3.73 | -2.76 |
| Martin ratioReturn relative to average drawdown | 2.97 | 22.76 | -19.78 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| ESMV | DMAY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.67 | 2.65 | -1.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.80 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.44 | 0.88 | -0.44 |
Drawdowns
ESMV vs. DMAY - Drawdown Comparison
The maximum ESMV drawdown since its inception was -19.77%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for ESMV and DMAY.
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Drawdown Indicators
| ESMV | DMAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.77% | -13.90% | -5.87% |
Max Drawdown (1Y)Largest decline over 1 year | -7.01% | -3.36% | -3.65% |
Max Drawdown (3Y)Largest decline over 3 years | -12.16% | -12.38% | +0.22% |
Max Drawdown (5Y)Largest decline over 5 years | — | -13.90% | — |
Current DrawdownCurrent decline from peak | -0.78% | -0.30% | -0.48% |
Average DrawdownAverage peak-to-trough decline | -5.33% | -2.24% | -3.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.28% | 0.55% | +1.73% |
Volatility
ESMV vs. DMAY - Volatility Comparison
iShares ESG MSCI USA Min Vol Factor ETF (ESMV) has a higher volatility of 2.25% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 0.84%. This indicates that ESMV'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.
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Volatility by Period
| ESMV | DMAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.25% | 0.84% | +1.41% |
Volatility (6M)Calculated over the trailing 6-month period | 6.26% | 3.74% | +2.52% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.06% | 4.73% | +5.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 9.02% | +4.22% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.24% | 8.43% | +4.81% |
ESMV vs. DMAY - Expense Ratio Comparison
ESMV has a 0.18% expense ratio, which is lower than DMAY's 0.85% expense ratio.
Dividends
ESMV vs. DMAY - Dividend Comparison
ESMV's dividend yield for the trailing twelve months is around 1.58%, while DMAY has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
ESMV iShares ESG MSCI USA Min Vol Factor ETF | 1.58% | 1.56% | 1.71% | 1.75% | 1.66% | 0.24% |
Frequently Asked Questions
ESMV and DMAY have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
ESMV has higher volatility (2.25%) compared to DMAY (0.84%). In terms of maximum drawdown, ESMV dropped -19.77% vs DMAY's -13.90%.
On 3-year performance, DMAY leads with 11.96% vs 11.27% for ESMV. On fees, ESMV is cheaper at 0.18% per year. On volatility, DMAY has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 3-year period, DMAY has performed better with a 11.96% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ESMV is cheaper with a 0.18% expense ratio, compared with 0.85% for DMAY.
ESMV has the higher dividend yield at 1.58%, compared with 0.00% for DMAY.
ESMV tracks MSCI USA Minimum Volatility Extended ESG Reduced Carbon Target Index - Benchmark TR Gross, while DMAY tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. They also come from different issuers: iShares and First Trust. Their fees differ too: 0.18% for ESMV and 0.85% for DMAY.
DMAY currently has the higher Sharpe Ratio (2.65 vs 0.67), 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.
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