FMAY vs. BUFR

Last updated Apr 2, 2026

Compare and contrast key facts about FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) and FT Vest Laddered Buffer ETF (BUFR).

FMAY and BUFR are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMAY is a passively managed fund by First Trust that tracks the performance of the Cboe S&P 500 Buffer Protect Index May Series. It was launched on May 15, 2020. BUFR is an actively managed fund by First Trust. It was launched on Aug 10, 2020.

Performance

FMAY vs. BUFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) and FT Vest Laddered Buffer ETF (BUFR). The values are adjusted to include any dividend payments, if applicable.

FMAY vs. BUFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	-0.64%	12.69%	14.45%	17.83%	-8.08%	11.00%	4.69%
BUFR FT Vest Laddered Buffer ETF	-0.93%	12.44%	14.68%	19.63%	-7.57%	11.88%	7.57%

Returns By Period

In the year-to-date period, FMAY achieves a -0.64% return, which is significantly higher than BUFR's -0.93% return.

FMAY

• 1D: 0.59%
• 1M: -1.45%
• YTD: -0.64%
• 6M: 1.57%
• 1Y: 14.82%
• 3Y*: 12.98%
• 5Y*: 8.55%
• 10Y*: —

BUFR

• 1D: 0.50%
• 1M: -1.71%
• YTD: -0.93%
• 6M: 1.42%
• 1Y: 13.93%
• 3Y*: 13.08%
• 5Y*: 8.86%
• 10Y*: —

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

FMAY vs. BUFR - Expense Ratio Comparison

FMAY has a 0.85% expense ratio, which is lower than BUFR's 0.95% expense ratio.

BUFR

FT Vest Laddered Buffer ETF

FMAY

FT Cboe Vest U.S. Equity Buffer ETF - May

Return for Risk

FMAY vs. BUFR — Risk / Return Rank

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

FMAY

FMAY Risk / Return Rank: 72
FMAY Sharpe Ratio Rank: 68
FMAY Sortino Ratio Rank: 73
FMAY Omega Ratio Rank: 82
FMAY Calmar Ratio Rank: 59
FMAY Martin Ratio Rank: 80

BUFR

BUFR Risk / Return Rank: 72
BUFR Sharpe Ratio Rank: 69
BUFR Sortino Ratio Rank: 71
BUFR Omega Ratio Rank: 78
BUFR Calmar Ratio Rank: 61
BUFR Martin Ratio Rank: 80

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.

FMAY vs. BUFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) and FT Vest Laddered Buffer ETF (BUFR). 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.

	FMAY	BUFR	Difference
Sharpe ratio Return per unit of total volatility	1.27	1.26	+0.01
Sortino ratio Return per unit of downside risk	1.95	1.83	+0.12
Omega ratio Gain probability vs. loss probability	1.33	1.30	+0.03
Calmar ratio Return relative to maximum drawdown	1.69	1.63	+0.06
Martin ratio Return relative to average drawdown	9.82	9.16	+0.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FMAY vs. BUFR - Sharpe Ratio Comparison

The current FMAY Sharpe Ratio is 1.27, which is comparable to the BUFR Sharpe Ratio of 1.26. The chart below compares the historical Sharpe Ratios of FMAY and BUFR, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	FMAY	BUFR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.27	1.26	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.85	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	0.96	-0.02

Correlation

The correlation between FMAY and BUFR is 0.91, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

FMAY vs. BUFR - Dividend Comparison

Neither FMAY nor BUFR has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

FMAY vs. BUFR - Drawdown Comparison

The maximum FMAY drawdown since its inception was -13.60%, roughly equal to the maximum BUFR drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for FMAY and BUFR.

Drawdown Indicators

	FMAY	BUFR	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-13.73%	+0.13%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-8.76%	-0.12%
Max Drawdown (5Y) Largest decline over 5 years	-13.60%	-13.73%	+0.13%
Current Drawdown Current decline from peak	-1.77%	-2.30%	+0.53%
Average Drawdown Average peak-to-trough decline	-2.06%	-2.15%	+0.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	1.56%	-0.03%

Volatility

FMAY vs. BUFR - Volatility Comparison

FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) and FT Vest Laddered Buffer ETF (BUFR) have volatilities of 3.53% and 3.48%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAY	BUFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.53%	3.48%	+0.05%
Volatility (6M) Calculated over the trailing 6-month period	4.84%	5.24%	-0.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	11.11%	+0.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.56%	10.46%	+0.10%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.26%	10.33%	-0.07%