LGDX vs. FMAY

Last updated Jun 4, 2026

LGDX (Intech S&P Large Cap Diversified Alpha ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds. LGDX is actively managed, while FMAY is passively managed. Over the past year, LGDX returned 23.04% vs 15.38% for FMAY. Their correlation of 0.93 suggests significant overlap in exposure. LGDX charges 0.25%/yr vs 0.85%/yr for FMAY.

Performance

LGDX vs. FMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Intech S&P Large Cap Diversified Alpha ETF (LGDX) 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, LGDX achieves a 9.49% return, which is significantly higher than FMAY's 5.39% return.

LGDX

• 1D: -0.77%
• 1M: 4.82%
• YTD: 9.49%
• 6M: 10.79%
• 1Y: 23.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAY

• 1D: -0.38%
• 1M: 1.63%
• YTD: 5.39%
• 6M: 6.32%
• 1Y: 15.38%
• 3Y*: 14.13%
• 5Y*: 9.48%
• 10Y*: —

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

LGDX vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025
LGDX Intech S&P Large Cap Diversified Alpha ETF	9.49%	13.95%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	5.39%	11.12%

Correlation

The correlation between LGDX and FMAY is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (All Time) Calculated using the full available price history since Mar 3, 2025	0.93

The correlation between LGDX and FMAY has been stable across timeframes, ranging from 0.92 to 0.93 - a consistent structural relationship.

LGDX vs. FMAY - Sectors Allocation Comparison

Sectors	LGDX	FMAY
Technology	33.4%	36.2%
Communication Services	12.0%	10.9%
Consumer Cyclical	10.8%	10.1%
Financial Services	10.8%	11.9%
Healthcare	9.4%	8.4%
Industrials	7.8%	8.1%
Consumer Defensive	4.3%	4.9%
Energy	3.6%	3.5%
Real Estate	3.2%	1.9%
Utilities	3.0%	2.3%
Basic Materials	1.8%	1.8%

Return for Risk

LGDX vs. FMAY — Risk / Return Rank

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

LGDX

LGDX Risk / Return Rank: 56
LGDX Sharpe Ratio Rank: 55
LGDX Sortino Ratio Rank: 54
LGDX Omega Ratio Rank: 54
LGDX Calmar Ratio Rank: 53
LGDX Martin Ratio Rank: 64

FMAY

FMAY Risk / Return Rank: 83
FMAY Sharpe Ratio Rank: 79
FMAY Sortino Ratio Rank: 85
FMAY Omega Ratio Rank: 87
FMAY Calmar Ratio Rank: 74
FMAY Martin Ratio Rank: 91

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.

LGDX vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Intech S&P Large Cap Diversified Alpha ETF (LGDX) 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.

	LGDX	FMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.85	2.56	-0.71
Sortino ratio: Return per unit of downside risk	2.57	3.80	-1.23
Omega ratio: Gain probability vs. loss probability	1.33	1.54	-0.21
Calmar ratio: Return relative to maximum drawdown	2.58	3.66	-1.08
Martin ratio: Return relative to average drawdown	11.47	21.48	-10.02
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

LGDX vs. FMAY - Sharpe Ratio Comparison

The current LGDX Sharpe Ratio is 1.85, which is comparable to the FMAY Sharpe Ratio of 2.56. The chart below compares the historical Sharpe Ratios of LGDX 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.

Sharpe Ratios by Period

	LGDX	FMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.85	2.56	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	1.02	+0.03

Drawdowns

LGDX vs. FMAY - Drawdown Comparison

The maximum LGDX drawdown since its inception was -15.79%, which is greater than FMAY's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for LGDX and FMAY.

Drawdown Indicators

	LGDX	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-15.79%	-13.60%	-2.19%
Max Drawdown (1Y) Largest decline over 1 year	-8.96%	-4.22%	-4.74%
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	-0.86%	-0.38%	-0.48%
Average Drawdown Average peak-to-trough decline	-2.04%	-2.01%	-0.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.01%	0.72%	+1.29%

Volatility

LGDX vs. FMAY - Volatility Comparison

Intech S&P Large Cap Diversified Alpha ETF (LGDX) has a higher volatility of 2.94% compared to FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) at 1.02%. This indicates that LGDX'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

	LGDX	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.94%	1.02%	+1.92%
Volatility (6M) Calculated over the trailing 6-month period	9.61%	4.59%	+5.02%
Volatility (1Y) Calculated over the trailing 1-year period	12.52%	6.04%	+6.48%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.35%	10.59%	+7.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.35%	10.15%	+8.20%

LGDX vs. FMAY - Expense Ratio Comparison

LGDX has a 0.25% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

LGDX vs. FMAY - Dividend Comparison

LGDX's dividend yield for the trailing twelve months is around 0.47%, while FMAY has not paid dividends to shareholders.

Position	TTM	2025
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%
LGDX Intech S&P Large Cap Diversified Alpha ETF	0.47%	0.52%

Frequently Asked Questions

Can I hold both LGDX and FMAY in my portfolio?

With a correlation of 0.92, LGDX and FMAY 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 is riskier, LGDX or FMAY?

LGDX has higher volatility (2.94%) compared to FMAY (1.02%). In terms of maximum drawdown, LGDX dropped -15.79% vs FMAY's -13.60%.

Which ETF is better, LGDX or FMAY?

On 1-year performance, LGDX leads with 23.04% vs 15.38% for FMAY. On fees, LGDX is cheaper at 0.25% per year. On volatility, FMAY has been the lower-risk option at 1.02%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, LGDX or FMAY?

Over the 1-year period, LGDX has performed better with a 23.04% return vs 15.38%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, LGDX or FMAY?

LGDX is cheaper with a 0.25% expense ratio, compared with 0.85% for FMAY.

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

LGDX has the higher dividend yield at 0.47%, compared with 0.00% for FMAY.

What is the main difference between LGDX and FMAY?

They also come from different issuers: Intech and First Trust. Their fees differ too: 0.25% for LGDX and 0.85% for FMAY.

Which has better risk-adjusted returns?

FMAY currently has the higher Sharpe Ratio (2.56 vs 1.85), 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.