GMAY vs. IBIC
GMAY (FT Cboe Vest U.S. Equity Moderate Buffer ETF - May) and IBIC (iShares iBonds Oct 2026 Term TIPS ETF) are both exchange-traded funds - GMAY is a Options Trading fund actively managed by FT Vest, while IBIC is a Inflation-Protected Bonds fund tracking the ICE 2026 Maturity US Inflation-Linked Treasury Index. GMAY is actively managed, while IBIC is passively managed. Over the past year, GMAY returned 10.74% vs 4.42% for IBIC. At a correlation of -0.06, they often move in opposite directions. GMAY charges 0.85%/yr vs 0.10%/yr for IBIC.
Performance
GMAY vs. IBIC - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GMAY achieves a 3.36% return, which is significantly higher than IBIC's 2.43% return.
GMAY
- 1D
- -0.74%
- 1M
- -0.49%
- YTD
- 3.36%
- 6M
- 3.29%
- 1Y
- 10.74%
- 3Y*
- 11.43%
- 5Y*
- —
- 10Y*
- —
IBIC
- 1D
- 0.04%
- 1M
- 0.12%
- YTD
- 2.43%
- 6M
- 2.57%
- 1Y
- 4.42%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
GMAY vs. IBIC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
GMAY FT Cboe Vest U.S. Equity Moderate Buffer ETF - May | 3.36% | 11.94% | 12.12% | 4.19% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 2.43% | 4.96% | 5.25% | 2.17% |
Correlation
The correlation between GMAY and IBIC is -0.19, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.19 |
Correlation (All Time) Calculated using the full available price history since Sep 15, 2023 | -0.06 |
The correlation between GMAY and IBIC shifts across timeframes, from -0.19 (1 year) to -0.06 (all time), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GMAY vs. IBIC — Risk / Return Rank
GMAY
IBIC
GMAY vs. IBIC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Moderate Buffer ETF - May (GMAY) and iShares iBonds Oct 2026 Term TIPS ETF (IBIC). 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.
| GMAY | IBIC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.91 | ||
| Sortino ratioReturn per unit of downside risk | -5.96 | ||
| Omega ratioGain probability vs. loss probability | 1.43 | 2.22 | -0.79 |
| Calmar ratioReturn relative to maximum drawdown | 3.47 | 16.56 | -13.09 |
| Martin ratioReturn relative to average drawdown | 18.42 | 58.67 | -40.26 |
Loading charts...
Drawdowns
GMAY vs. IBIC - Drawdown Comparison
The maximum GMAY drawdown since its inception was -11.75%, which is greater than IBIC's maximum drawdown of -0.90%. Use the drawdown chart below to compare losses from any high point for GMAY and IBIC.
Loading charts...
Drawdown Indicators
| GMAY | IBIC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.75% | -0.90% | -10.85% |
Max Drawdown (1Y)Largest decline over 1 year | -3.11% | -0.27% | -2.84% |
Max Drawdown (3Y)Largest decline over 3 years | -11.75% | — | — |
Current DrawdownCurrent decline from peak | -1.36% | -0.08% | -1.28% |
Average DrawdownAverage peak-to-trough decline | -0.73% | -0.10% | -0.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.58% | 0.08% | +0.50% |
Volatility
GMAY vs. IBIC - Volatility Comparison
FT Cboe Vest U.S. Equity Moderate Buffer ETF - May (GMAY) has a higher volatility of 2.55% compared to iShares iBonds Oct 2026 Term TIPS ETF (IBIC) at 0.17%. This indicates that GMAY's price experiences larger fluctuations and is considered to be riskier than IBIC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GMAY | IBIC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.55% | 0.17% | +2.38% |
Volatility (6M)Calculated over the trailing 6-month period | 4.35% | 0.67% | +3.68% |
Volatility (1Y)Calculated over the trailing 1-year period | 5.21% | 0.89% | +4.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.89% | 1.56% | +6.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.89% | 1.56% | +6.33% |
GMAY vs. IBIC - Expense Ratio Comparison
GMAY has a 0.85% expense ratio, which is higher than IBIC's 0.10% expense ratio.
Dividends
GMAY vs. IBIC - Dividend Comparison
GMAY has not paid dividends to shareholders, while IBIC's dividend yield for the trailing twelve months is around 3.58%.
| Position | TTM | 2025 | 2024 | 2023 |
|---|---|---|---|---|
GMAY FT Cboe Vest U.S. Equity Moderate Buffer ETF - May | 0.00% | 0.00% | 0.00% | 0.00% |
IBIC iShares iBonds Oct 2026 Term TIPS ETF | 3.58% | 4.43% | 4.65% | 0.83% |
Frequently Asked Questions
GMAY and IBIC have a correlation of -0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
GMAY has higher volatility (2.55%) compared to IBIC (0.17%). In terms of maximum drawdown, GMAY dropped -11.75% vs IBIC's -0.90%.
On 1-year performance, GMAY leads with 10.74% vs 4.42% for IBIC. On fees, IBIC is cheaper at 0.10% per year. On volatility, IBIC has been the lower-risk option at 0.17%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, GMAY has performed better with a 10.74% return vs 4.42%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
IBIC is cheaper with a 0.10% expense ratio, compared with 0.85% for GMAY.
IBIC has the higher dividend yield at 3.58%, compared with 0.00% for GMAY.
GMAY is categorized as Options Trading, while IBIC is Inflation-Protected Bonds. They also come from different issuers: FT Vest and iShares. Their fees differ too: 0.85% for GMAY and 0.10% for IBIC.
IBIC currently has the higher Sharpe Ratio (4.99 vs 2.08), 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.
Find the right allocation for GMAY and IBIC
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer