FJUN vs. DMAY

Last updated Jun 4, 2026

FJUN (FT Cboe Vest U.S. Equity Buffer ETF - June) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds from First Trust - FJUN tracks the Cboe S&P 500 Buffer Protect Index June while DMAY tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. Both are passively managed. Over the past 5 years, FJUN returned 11.05%/yr vs 7.16%/yr for DMAY. Their correlation of 0.91 suggests significant overlap in exposure. Both charge a 0.85% expense ratio.

Performance

FJUN vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN) 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

The year-to-date returns for both stocks are quite close, with FJUN having a 4.64% return and DMAY slightly lower at 4.42%.

FJUN

• 1D: -0.18%
• 1M: 1.03%
• YTD: 4.64%
• 6M: 5.30%
• 1Y: 13.82%
• 3Y*: 14.38%
• 5Y*: 11.05%
• 10Y*: —

DMAY

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

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

FJUN vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FJUN FT Cboe Vest U.S. Equity Buffer ETF - June	4.64%	11.05%	16.38%	22.30%	-4.95%	11.47%	11.67%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.42%	11.05%	12.82%	15.40%	-9.98%	6.14%	5.51%

Correlation

The correlation between FJUN 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 (5Y) Calculated over the trailing 5-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 23, 2020	0.91

The correlation between FJUN and DMAY has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

FJUN vs. DMAY - Sectors Allocation Comparison

Sectors	FJUN	DMAY
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

FJUN vs. DMAY — Risk / Return Rank

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

FJUN

FJUN Risk / Return Rank: 77
FJUN Sharpe Ratio Rank: 70
FJUN Sortino Ratio Rank: 77
FJUN Omega Ratio Rank: 81
FJUN Calmar Ratio Rank: 68
FJUN Martin Ratio Rank: 88

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.

FJUN vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN) 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.

	FJUN	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	2.28	2.65	-0.37
Sortino ratio: Return per unit of downside risk	3.44	4.00	-0.56
Omega ratio: Gain probability vs. loss probability	1.49	1.60	-0.11
Calmar ratio: Return relative to maximum drawdown	3.36	3.73	-0.37
Martin ratio: Return relative to average drawdown	18.98	22.76	-3.78
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FJUN vs. DMAY - Sharpe Ratio Comparison

The current FJUN Sharpe Ratio is 2.28, which is comparable to the DMAY Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of FJUN 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.

Sharpe Ratios by Period

	FJUN	DMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.28	2.65	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.80	+0.25
Sharpe Ratio (All Time) Calculated using the full available price history	1.17	0.88	+0.29

Drawdowns

FJUN vs. DMAY - Drawdown Comparison

The maximum FJUN drawdown since its inception was -13.26%, roughly equal to the maximum DMAY drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for FJUN and DMAY.

Drawdown Indicators

	FJUN	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-13.26%	-13.90%	+0.64%
Max Drawdown (1Y) Largest decline over 1 year	-4.13%	-3.36%	-0.77%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-12.38%	-0.88%
Max Drawdown (5Y) Largest decline over 5 years	-13.26%	-13.90%	+0.64%
Current Drawdown Current decline from peak	-0.18%	-0.30%	+0.12%
Average Drawdown Average peak-to-trough decline	-1.67%	-2.24%	+0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.73%	0.55%	+0.18%

Volatility

FJUN vs. DMAY - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Buffer ETF - June (FJUN) is 0.41%, while FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) has a volatility of 0.84%. This indicates that FJUN experiences smaller price fluctuations and is considered to be less risky than DMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FJUN	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.41%	0.84%	-0.43%
Volatility (6M) Calculated over the trailing 6-month period	4.35%	3.74%	+0.61%
Volatility (1Y) Calculated over the trailing 1-year period	6.11%	4.73%	+1.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.55%	9.02%	+1.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	8.43%	+1.84%

FJUN vs. DMAY - Expense Ratio Comparison

Both FJUN and DMAY have an expense ratio of 0.85%.

Dividends

FJUN vs. DMAY - Dividend Comparison

Neither FJUN nor DMAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both FJUN and DMAY in my portfolio?

FJUN 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, FJUN or DMAY?

DMAY has higher volatility (0.84%) compared to FJUN (0.41%). In terms of maximum drawdown, FJUN dropped -13.26% vs DMAY's -13.90%.

Which ETF is better, FJUN or DMAY?

On 5-year performance, FJUN leads with 11.05% vs 7.16% for DMAY. Both ETFs have the same 0.85% expense ratio. On volatility, FJUN has been the lower-risk option at 0.41%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FJUN or DMAY?

Over the 5-year period, FJUN has performed better with a 11.05% return vs 7.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FJUN or DMAY?

FJUN and DMAY have the same expense ratio: 0.85% per year.

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

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

What is the main difference between FJUN and DMAY?

FJUN tracks Cboe S&P 500 Buffer Protect Index June, while DMAY tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (2.65 vs 2.28), 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.