FEUS vs. DMAY

Last updated Jun 24, 2026

FEUS (FlexShares ESG & Climate US Large Cap Core Index Fund) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds - FEUS tracks the Northern Trust ESG & Climate US Large Cap Core 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, FEUS returned 18.61%/yr vs 11.27%/yr for DMAY. Their correlation of 0.94 suggests significant overlap in exposure. FEUS charges 0.09%/yr vs 0.85%/yr for DMAY.

Performance

FEUS vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FlexShares ESG & Climate US Large Cap Core Index Fund (FEUS) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FEUS achieves a 7.39% return, which is significantly higher than DMAY's 3.36% return.

FEUS

• 1D: -1.00%
• 1M: -1.59%
• YTD: 7.39%
• 6M: 6.58%
• 1Y: 22.36%
• 3Y*: 18.61%
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.56%
• 1M: -0.40%
• YTD: 3.36%
• 6M: 3.37%
• 1Y: 10.73%
• 3Y*: 11.27%
• 5Y*: 6.78%
• 10Y*: —

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

FEUS vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FEUS FlexShares ESG & Climate US Large Cap Core Index Fund	7.39%	14.67%	23.10%	25.54%	-19.10%	9.37%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	3.36%	11.05%	12.82%	15.40%	-9.98%	3.08%

Correlation

The correlation between FEUS and DMAY is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Sep 21, 2021	0.94

The correlation between FEUS and DMAY has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

FEUS vs. DMAY - Sectors Allocation Comparison

Sectors	FEUS	DMAY
Technology	39.0%	39.0%
Financial Services	11.2%	11.1%
Communication Services	10.4%	10.6%
Consumer Cyclical	10.4%	9.9%
Healthcare	8.2%	8.3%
Industrials	8.0%	7.8%
Consumer Defensive	4.2%	4.5%
Energy	3.4%	3.1%
Real Estate	2.0%	1.8%
Utilities	1.7%	2.1%
Basic Materials	1.5%	1.7%

Return for Risk

FEUS vs. DMAY — Risk / Return Rank

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

FEUS

FEUS Risk / Return Rank: 56
FEUS Sharpe Ratio Rank: 58
FEUS Sortino Ratio Rank: 56
FEUS Omega Ratio Rank: 56
FEUS Calmar Ratio Rank: 52
FEUS Martin Ratio Rank: 59

DMAY

DMAY Risk / Return Rank: 78
DMAY Sharpe Ratio Rank: 73
DMAY Sortino Ratio Rank: 77
DMAY Omega Ratio Rank: 85
DMAY Calmar Ratio Rank: 69
DMAY Martin Ratio Rank: 88

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.

FEUS vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FlexShares ESG & Climate US Large Cap Core Index Fund (FEUS) 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.

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.

	FEUS	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.79	2.14	-0.35
Sortino ratio: Return per unit of downside risk	2.46	3.13	-0.68
Omega ratio: Gain probability vs. loss probability	1.32	1.47	-0.15
Calmar ratio: Return relative to maximum drawdown	2.35	3.23	-0.88
Martin ratio: Return relative to average drawdown	9.70	18.05	-8.34

FEUS vs. DMAY - Sharpe Ratio Comparison

The current FEUS Sharpe Ratio is 1.79, which is comparable to the DMAY Sharpe Ratio of 2.14. The chart below compares the historical Sharpe Ratios of FEUS and DMAY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

FEUS vs. DMAY - Drawdown Comparison

The maximum FEUS drawdown since its inception was -25.31%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for FEUS and DMAY.

Drawdown Indicators

	FEUS	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-25.31%	-13.90%	-11.41%
Max Drawdown (1Y) Largest decline over 1 year	-9.55%	-3.36%	-6.19%
Max Drawdown (3Y) Largest decline over 3 years	-19.47%	-12.38%	-7.09%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.90%	—
Current Drawdown Current decline from peak	-3.37%	-1.31%	-2.06%
Average Drawdown Average peak-to-trough decline	-6.31%	-2.23%	-4.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.31%	0.60%	+1.71%

Volatility

FEUS vs. DMAY - Volatility Comparison

FlexShares ESG & Climate US Large Cap Core Index Fund (FEUS) has a higher volatility of 4.55% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 2.26%. This indicates that FEUS'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.

Volatility by Period

	FEUS	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.55%	2.26%	+2.29%
Volatility (6M) Calculated over the trailing 6-month period	9.97%	4.30%	+5.67%
Volatility (1Y) Calculated over the trailing 1-year period	12.54%	5.09%	+7.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.03%	9.07%	+7.96%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.03%	8.43%	+8.60%

FEUS vs. DMAY - Expense Ratio Comparison

FEUS has a 0.09% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

FEUS vs. DMAY - Dividend Comparison

FEUS's dividend yield for the trailing twelve months is around 1.01%, 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%
FEUS FlexShares ESG & Climate US Large Cap Core Index Fund	1.01%	1.06%	1.15%	1.41%	1.48%	0.36%

Frequently Asked Questions

Can I hold both FEUS and DMAY in my portfolio?

FEUS and DMAY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FEUS or DMAY?

FEUS has higher volatility (4.55%) compared to DMAY (2.26%). In terms of maximum drawdown, FEUS dropped -25.31% vs DMAY's -13.90%.

Which ETF is better, FEUS or DMAY?

On 3-year performance, FEUS leads with 18.61% vs 11.27% for DMAY. On fees, FEUS is cheaper at 0.09% per year. On volatility, DMAY has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FEUS or DMAY?

Over the 3-year period, FEUS has performed better with a 18.61% return vs 11.27%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FEUS or DMAY?

FEUS is cheaper with a 0.09% expense ratio, compared with 0.85% for DMAY.

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

FEUS has the higher dividend yield at 1.01%, compared with 0.00% for DMAY.

What is the main difference between FEUS and DMAY?

FEUS tracks Northern Trust ESG & Climate US Large Cap Core 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: FlexShares and First Trust. Their fees differ too: 0.09% for FEUS and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (2.14 vs 1.79), 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.