FTIF vs. FMAY

Last updated Jun 24, 2026

FTIF (First Trust Bloomberg Inflation Sensitive Equity ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds from First Trust - FTIF tracks the Bloomberg Inflation Sensitive Equity Index - Benchmark TR Gross while FMAY tracks the Cboe S&P 500 Buffer Protect Index May Series. Both are passively managed. Over the past 3 years, FTIF returned 14.08%/yr vs 13.13%/yr for FMAY. A 0.57 correlation means they provide meaningful diversification when combined. FTIF charges 0.60%/yr vs 0.85%/yr for FMAY.

Performance

FTIF vs. FMAY - Performance Comparison

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

Returns By Period

In the year-to-date period, FTIF achieves a 20.97% return, which is significantly higher than FMAY's 3.95% return.

FTIF

• 1D: -0.96%
• 1M: -2.83%
• YTD: 20.97%
• 6M: 19.74%
• 1Y: 29.74%
• 3Y*: 14.08%
• 5Y*: —
• 10Y*: —

FMAY

• 1D: -0.84%
• 1M: -0.64%
• YTD: 3.95%
• 6M: 3.89%
• 1Y: 13.09%
• 3Y*: 13.13%
• 5Y*: 9.01%
• 10Y*: —

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

FTIF vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
FTIF First Trust Bloomberg Inflation Sensitive Equity ETF	20.97%	7.79%	0.50%	12.31%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	3.95%	12.69%	14.45%	17.69%

Correlation

The correlation between FTIF and FMAY is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.56
Correlation (All Time) Calculated using the full available price history since Mar 14, 2023	0.57

The correlation between FTIF and FMAY shifts across timeframes, from 0.43 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.

FTIF vs. FMAY - Sectors Allocation Comparison

Sectors	FTIF	FMAY
Energy	38.0%	3.1%
Basic Materials	22.0%	1.7%
Industrials	18.0%	7.8%
Real Estate	14.0%	1.8%
Consumer Cyclical	4.0%	9.9%
Technology	2.0%	39.0%
Communication Services	-	10.6%
Consumer Defensive	-	4.5%
Financial Services	-	11.1%
Healthcare	-	8.3%
Utilities	-	2.1%

Return for Risk

FTIF vs. FMAY — Risk / Return Rank

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

FTIF

FTIF Risk / Return Rank: 72
FTIF Sharpe Ratio Rank: 64
FTIF Sortino Ratio Rank: 63
FTIF Omega Ratio Rank: 58
FTIF Calmar Ratio Rank: 91
FTIF Martin Ratio Rank: 82

FMAY

FMAY Risk / Return Rank: 74
FMAY Sharpe Ratio Rank: 68
FMAY Sortino Ratio Rank: 70
FMAY Omega Ratio Rank: 77
FMAY Calmar Ratio Rank: 68
FMAY 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.

FTIF vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for First Trust Bloomberg Inflation Sensitive Equity ETF (FTIF) and FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY). 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.

	FTIF	FMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.01	-0.07
Sortino ratio: Return per unit of downside risk	2.70	2.88	-0.18
Omega ratio: Gain probability vs. loss probability	1.33	1.42	-0.08
Calmar ratio: Return relative to maximum drawdown	5.47	3.12	+2.36
Martin ratio: Return relative to average drawdown	15.23	16.70	-1.48

FTIF vs. FMAY - Sharpe Ratio Comparison

The current FTIF Sharpe Ratio is 1.94, which is comparable to the FMAY Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of FTIF and FMAY, 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

FTIF vs. FMAY - Drawdown Comparison

The maximum FTIF drawdown since its inception was -27.83%, which is greater than FMAY's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for FTIF and FMAY.

Drawdown Indicators

	FTIF	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-27.83%	-13.60%	-14.23%
Max Drawdown (1Y) Largest decline over 1 year	-5.46%	-4.22%	-1.24%
Max Drawdown (3Y) Largest decline over 3 years	-27.83%	-13.12%	-14.71%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.60%	—
Current Drawdown Current decline from peak	-4.32%	-1.74%	-2.58%
Average Drawdown Average peak-to-trough decline	-5.95%	-2.00%	-3.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.79%	+1.17%

Volatility

FTIF vs. FMAY - Volatility Comparison

First Trust Bloomberg Inflation Sensitive Equity ETF (FTIF) has a higher volatility of 4.57% compared to FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) at 3.12%. This indicates that FTIF's price experiences larger fluctuations and is considered to be riskier than FMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FTIF	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.57%	3.12%	+1.45%
Volatility (6M) Calculated over the trailing 6-month period	10.75%	5.43%	+5.32%
Volatility (1Y) Calculated over the trailing 1-year period	15.38%	6.55%	+8.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.92%	10.66%	+8.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.92%	10.17%	+8.75%

FTIF vs. FMAY - Expense Ratio Comparison

FTIF has a 0.60% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

FTIF vs. FMAY - Dividend Comparison

FTIF's dividend yield for the trailing twelve months is around 1.15%, while FMAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%	0.00%	0.00%
FTIF First Trust Bloomberg Inflation Sensitive Equity ETF	1.15%	1.45%	2.88%	1.55%

Frequently Asked Questions

Can I hold both FTIF and FMAY in my portfolio?

FTIF and FMAY have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FTIF or FMAY?

FTIF has higher volatility (4.57%) compared to FMAY (3.12%). In terms of maximum drawdown, FTIF dropped -27.83% vs FMAY's -13.60%.

Which ETF is better, FTIF or FMAY?

On 3-year performance, FTIF leads with 14.08% vs 13.13% for FMAY. On fees, FTIF is cheaper at 0.60% per year. On volatility, FMAY has been the lower-risk option at 3.12%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, FTIF or FMAY?

Over the 3-year period, FTIF has performed better with a 14.08% return vs 13.13%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, FTIF or FMAY?

FTIF is cheaper with a 0.60% expense ratio, compared with 0.85% for FMAY.

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

FTIF has the higher dividend yield at 1.15%, compared with 0.00% for FMAY.

What is the main difference between FTIF and FMAY?

FTIF tracks Bloomberg Inflation Sensitive Equity Index - Benchmark TR Gross, while FMAY tracks Cboe S&P 500 Buffer Protect Index May Series. Their fees differ too: 0.60% for FTIF and 0.85% for FMAY.

Which has better risk-adjusted returns?

FMAY currently has the higher Sharpe Ratio (2.01 vs 1.94), 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.