FMAY vs. IGLD

Last updated Apr 1, 2026

Compare and contrast key facts about FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) and FT Cboe Vest Gold Strategy Target Income ETF (IGLD).

FMAY and IGLD 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. IGLD is an actively managed fund by First Trust. It was launched on Mar 2, 2021.

Performance

FMAY vs. IGLD - 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 Cboe Vest Gold Strategy Target Income ETF (IGLD). The values are adjusted to include any dividend payments, if applicable.

FMAY vs. IGLD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	-1.22%	12.69%	14.45%	17.83%	-8.08%	9.71%
IGLD FT Cboe Vest Gold Strategy Target Income ETF	5.99%	47.46%	19.36%	9.24%	-2.34%	4.30%

Returns By Period

In the year-to-date period, FMAY achieves a -1.22% return, which is significantly lower than IGLD's 5.99% return.

FMAY

• 1D: 1.96%
• 1M: -2.08%
• YTD: -1.22%
• 6M: 1.06%
• 1Y: 14.34%
• 3Y*: 12.76%
• 5Y*: 8.42%
• 10Y*: —

IGLD

• 1D: 3.70%
• 1M: -10.43%
• YTD: 5.99%
• 6M: 16.73%
• 1Y: 38.18%
• 3Y*: 24.46%
• 5Y*: 15.50%
• 10Y*: —

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

FMAY vs. IGLD - Expense Ratio Comparison

Both FMAY and IGLD have an expense ratio of 0.85%.

FMAY

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

IGLD

FT Cboe Vest Gold Strategy Target Income ETF

Return for Risk

FMAY vs. IGLD — Risk / Return Rank

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

FMAY

FMAY Risk / Return Rank: 74
FMAY Sharpe Ratio Rank: 69
FMAY Sortino Ratio Rank: 73
FMAY Omega Ratio Rank: 82
FMAY Calmar Ratio Rank: 65
FMAY Martin Ratio Rank: 84

IGLD

IGLD Risk / Return Rank: 84
IGLD Sharpe Ratio Rank: 84
IGLD Sortino Ratio Rank: 83
IGLD Omega Ratio Rank: 84
IGLD Calmar Ratio Rank: 83
IGLD Martin Ratio Rank: 86

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. IGLD - 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 Cboe Vest Gold Strategy Target Income ETF (IGLD). 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	IGLD	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.62	-0.38
Sortino ratio Return per unit of downside risk	1.89	2.09	-0.20
Omega ratio Gain probability vs. loss probability	1.32	1.32	0.00
Calmar ratio Return relative to maximum drawdown	1.68	2.25	-0.57
Martin ratio Return relative to average drawdown	9.81	9.68	+0.12
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. IGLD - Sharpe Ratio Comparison

The current FMAY Sharpe Ratio is 1.23, which is comparable to the IGLD Sharpe Ratio of 1.62. The chart below compares the historical Sharpe Ratios of FMAY and IGLD, 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	IGLD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.62	-0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.80	1.05	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.92	1.05	-0.12

Correlation

The correlation between FMAY and IGLD is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

FMAY vs. IGLD - Dividend Comparison

FMAY has not paid dividends to shareholders, while IGLD's dividend yield for the trailing twelve months is around 12.45%.

	TTM	2025	2024	2023	2022	2021
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
IGLD FT Cboe Vest Gold Strategy Target Income ETF	12.45%	9.91%	20.81%	7.85%	4.45%	2.24%

Drawdowns

FMAY vs. IGLD - Drawdown Comparison

The maximum FMAY drawdown since its inception was -13.60%, smaller than the maximum IGLD drawdown of -18.59%. Use the drawdown chart below to compare losses from any high point for FMAY and IGLD.

Drawdown Indicators

	FMAY	IGLD	Difference
Max Drawdown Largest peak-to-trough decline	-13.60%	-18.59%	+4.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.88%	-17.56%	+8.68%
Max Drawdown (5Y) Largest decline over 5 years	-13.60%	-18.59%	+4.99%
Current Drawdown Current decline from peak	-2.34%	-11.57%	+9.23%
Average Drawdown Average peak-to-trough decline	-2.06%	-5.01%	+2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.53%	4.08%	-2.55%

Volatility

FMAY vs. IGLD - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) is 3.48%, while FT Cboe Vest Gold Strategy Target Income ETF (IGLD) has a volatility of 11.19%. This indicates that FMAY experiences smaller price fluctuations and is considered to be less risky than IGLD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FMAY	IGLD	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.48%	11.19%	-7.71%
Volatility (6M) Calculated over the trailing 6-month period	4.81%	21.21%	-16.40%
Volatility (1Y) Calculated over the trailing 1-year period	11.68%	23.75%	-12.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.56%	14.90%	-4.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.26%	14.86%	-4.60%