FLCC vs. DMAY

Last updated Aug 2, 2026

FLCC (Federated Hermes MDT Large Cap Core ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both exchange-traded funds - FLCC is a Large Cap Blend Equities fund actively managed by Federated, while DMAY is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. FLCC is actively managed, while DMAY is passively managed. Over the past year, FLCC returned 18.21% vs 9.72% for DMAY. Their correlation of 0.89 means they have usually moved in the same direction. FLCC charges 0.29%/yr vs 0.85%/yr for DMAY.

Performance

FLCC vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Federated Hermes MDT Large Cap Core ETF (FLCC) 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, FLCC achieves a 10.61% return, which is significantly higher than DMAY's 4.47% return.

FLCC

• 1D: 0.53%
• 1M: 1.73%
• 6M: 10.65%
• YTD: 10.61%
• 1Y: 18.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 18.95%

DMAY

• 1D: 0.40%
• 1M: 0.41%
• 6M: 3.91%
• YTD: 4.47%
• 1Y: 9.72%
• 3Y*: 10.82%
• 5Y*: 6.88%
• 10Y*: —
• ALL TIME*: 7.16%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	$400.10K	$440.69K	$1.81M
FLCC Federated Hermes MDT Large Cap Core ETF	$1.19M	$831.18K	$771.14K

FLCC vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
FLCC Federated Hermes MDT Large Cap Core ETF	10.61%	16.61%	9.68%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.47%	11.05%	6.09%

Correlation

The correlation between FLCC and DMAY is 0.86, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.86
Correlation (All Time) Calculated using the full available price history since Jul 31, 2024	0.89

The correlation between FLCC and DMAY has been stable across timeframes, ranging from 0.86 to 0.89 - a consistent structural relationship.

FLCC vs. DMAY - Sectors Allocation Comparison

Sectors	FLCC	DMAY
Technology	38.2%	37.9%
Consumer Cyclical	12.0%	9.6%
Financial Services	11.1%	11.7%
Healthcare	10.2%	9.1%
Industrials	10.1%	8.4%
Communication Services	8.6%	10.0%
Consumer Defensive	3.3%	4.6%
Energy	2.2%	3.0%
Basic Materials	1.8%	1.7%
Utilities	1.4%	2.3%
Real Estate	1.2%	1.9%

Return for Risk

FLCC vs. DMAY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

FLCC

FLCC Risk / Return Rank: 50
FLCC Sharpe Ratio Rank: 50
FLCC Sortino Ratio Rank: 48
FLCC Omega Ratio Rank: 47
FLCC Calmar Ratio Rank: 48
FLCC Martin Ratio Rank: 56

DMAY

DMAY Risk / Return Rank: 81
DMAY Sharpe Ratio Rank: 75
DMAY Sortino Ratio Rank: 78
DMAY Omega Ratio Rank: 83
DMAY Calmar Ratio Rank: 78
DMAY Martin Ratio Rank: 89

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

FLCC vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Federated Hermes MDT Large Cap Core ETF (FLCC) 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.

	FLCC	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.23	1.70	-0.47
Sortino ratio: Return per unit of downside risk	1.74	2.52	-0.78
Omega ratio: Gain probability vs. loss probability	1.22	1.35	-0.14
Calmar ratio: Return relative to maximum drawdown	1.75	2.78	-1.03
Martin ratio: Return relative to average drawdown	6.77	14.06	-7.29

FLCC vs. DMAY - Sharpe Ratio Comparison

The current FLCC Sharpe Ratio is 1.23, which is comparable to the DMAY Sharpe Ratio of 1.70. The chart below compares the historical Sharpe Ratios of FLCC 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

FLCC vs. DMAY - Drawdown Comparison

The maximum FLCC drawdown since its inception was -19.18%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for FLCC and DMAY.

Drawdown Indicators

	FLCC	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-19.18%	-13.90%	-5.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.31%	-3.36%	-5.95%
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	0.00%	-0.35%	+0.35%
Average Drawdown Average peak-to-trough decline	-2.28%	-2.20%	-0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.40%	0.66%	+1.74%

Volatility

FLCC vs. DMAY - Volatility Comparison

Federated Hermes MDT Large Cap Core ETF (FLCC) has a higher volatility of 3.12% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 1.88%. This indicates that FLCC'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

	FLCC	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.12%	1.88%	+1.24%
Volatility (6M) Calculated over the trailing 6-month period	10.12%	4.75%	+5.37%
Volatility (1Y) Calculated over the trailing 1-year period	13.23%	5.49%	+7.74%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.07%	9.10%	+7.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.07%	8.41%	+8.66%

FLCC vs. DMAY - Expense Ratio Comparison

FLCC has a 0.29% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

FLCC vs. DMAY - Dividend Comparison

FLCC's dividend yield for the trailing twelve months is around 0.46%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025	2024
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%	0.00%
FLCC Federated Hermes MDT Large Cap Core ETF	0.46%	0.50%	0.20%

Frequently Asked Questions

Can I hold both FLCC and DMAY in my portfolio?

FLCC and DMAY have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FLCC or DMAY?

FLCC has higher volatility (3.12%) compared to DMAY (1.88%). In terms of maximum drawdown, FLCC dropped -19.18% vs DMAY's -13.90%.

Which ETF is better, FLCC or DMAY?

On 1-year performance, FLCC leads with 18.21% vs 9.72% for DMAY. On fees, FLCC is cheaper at 0.29% per year. On volatility, DMAY has been the lower-risk option at 1.88%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FLCC or DMAY?

Over the 1-year period, FLCC has performed better with a 18.21% return vs 9.72%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FLCC or DMAY?

FLCC is cheaper with a 0.29% expense ratio, compared with 0.85% for DMAY.

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

FLCC has the higher dividend yield at 0.46%, compared with 0.00% for DMAY.

What is the main difference between FLCC and DMAY?

FLCC is categorized as Large Cap Blend Equities, while DMAY is Defined Outcome. They also come from different issuers: Federated and First Trust. Their fees differ too: 0.29% for FLCC and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (1.70 vs 1.23), 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.