FMAY vs. GXLC

Last updated Jun 23, 2026

FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) and GXLC (Global X U.S. 500 ETF) are both Large Cap Blend Equities funds - FMAY tracks the Cboe S&P 500 Buffer Protect Index May Series while GXLC tracks the Solactive GBS United States 500 Index. Both are passively managed. Their correlation of 0.93 suggests significant overlap in exposure. FMAY charges 0.85%/yr vs 0.02%/yr for GXLC.

Performance

FMAY vs. GXLC - 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 Global X U.S. 500 ETF (GXLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FMAY achieves a 4.83% return, which is significantly lower than GXLC's 9.76% return.

FMAY

• 1D: -0.26%
• 1M: 0.20%
• YTD: 4.83%
• 6M: 4.96%
• 1Y: 14.67%
• 3Y*: 13.45%
• 5Y*: 9.27%
• 10Y*: —

GXLC

• 1D: -0.47%
• 1M: 0.20%
• YTD: 9.76%
• 6M: 9.33%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

FMAY vs. GXLC - Yearly Performance Comparison

	2026 (YTD)	2025
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	4.83%	2.75%
GXLC Global X U.S. 500 ETF	9.76%	3.22%

Correlation

The correlation between FMAY and GXLC is 0.93, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 24, 2025	0.93

Return for Risk

FMAY vs. GXLC — Risk / Return Rank

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

FMAY

FMAY Risk / Return Rank: 79
FMAY Sharpe Ratio Rank: 73
FMAY Sortino Ratio Rank: 77
FMAY Omega Ratio Rank: 83
FMAY Calmar Ratio Rank: 71
FMAY Martin Ratio Rank: 89

GXLC

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. GXLC - 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 Global X U.S. 500 ETF (GXLC). 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.

	FMAY	GXLC	Difference
Sharpe ratio: Return per unit of total volatility	2.27	—	—
Sortino ratio: Return per unit of downside risk	3.27	—	—
Omega ratio: Gain probability vs. loss probability	1.48	—	—
Calmar ratio: Return relative to maximum drawdown	3.49	—	—
Martin ratio: Return relative to average drawdown	18.92	—	—

Drawdowns

FMAY vs. GXLC - Drawdown Comparison

The maximum FMAY drawdown since its inception was -13.60%, which is greater than GXLC's maximum drawdown of -9.08%. Use the drawdown chart below to compare losses from any high point for FMAY and GXLC.

Drawdown Indicators

	FMAY	GXLC	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-9.08%	-4.52%
Max Drawdown (1Y) Largest decline over 1 year	-4.22%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-13.12%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-13.60%	—	—
Current Drawdown Current decline from peak	-0.91%	-1.76%	+0.85%
Average Drawdown Average peak-to-trough decline	-2.00%	-1.53%	-0.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.78%	—	—

Volatility

Volatility by Period

	FMAY	GXLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.36%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	6.50%	13.79%	-7.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.65%	13.79%	-3.14%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.17%	13.79%	-3.62%

FMAY vs. GXLC - Expense Ratio Comparison

FMAY has a 0.85% expense ratio, which is higher than GXLC's 0.02% expense ratio.

Dividends

FMAY vs. GXLC - Dividend Comparison

FMAY has not paid dividends to shareholders, while GXLC's dividend yield for the trailing twelve months is around 0.64%.

Position	TTM	2025
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%
GXLC Global X U.S. 500 ETF	0.64%	0.30%

Frequently Asked Questions

Can I hold both FMAY and GXLC in my portfolio?

With a correlation of 0.93, FMAY and GXLC move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, FMAY or GXLC?

On fees, GXLC is cheaper at 0.02% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, FMAY or GXLC?

GXLC is cheaper with a 0.02% expense ratio, compared with 0.85% for FMAY.

Which ETF pays a higher dividend yield, FMAY or GXLC?

GXLC has the higher dividend yield at 0.64%, compared with 0.00% for FMAY.

What is the main difference between FMAY and GXLC?

FMAY tracks Cboe S&P 500 Buffer Protect Index May Series, while GXLC tracks Solactive GBS United States 500 Index. They also come from different issuers: First Trust and Global X. Their fees differ too: 0.85% for FMAY and 0.02% for GXLC.