LOHA vs. DMAY

Last updated Jul 17, 2026

LOHA (Roundhill HALO ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both exchange-traded funds - LOHA is a Large Cap Blend Equities fund tracking the Akros U.S. Heavy Assets Low Obsolescence (HALO) Index, while DMAY is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. Both are passively managed. At a 0.30 correlation, their price movements are largely independent. LOHA charges 0.35%/yr vs 0.85%/yr for DMAY.

Performance

LOHA vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Roundhill HALO ETF (LOHA) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

LOHA

• 1D: 2.19%
• 1M: 1.16%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.21%
• 1M: 0.28%
• 6M: 4.21%
• YTD: 4.62%
• 1Y: 10.01%
• 3Y*: 11.04%
• 5Y*: 7.00%
• 10Y*: —

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

LOHA vs. DMAY - Yearly Performance Comparison

	2026 (YTD)
LOHA Roundhill HALO ETF	4.07%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	1.26%

Correlation

The correlation between LOHA and DMAY is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 14, 2026	0.30

Return for Risk

LOHA vs. DMAY — Risk / Return Rank

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

LOHA

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

DMAY

DMAY Risk / Return Rank: 81
DMAY Sharpe Ratio Rank: 76
DMAY Sortino Ratio Rank: 80
DMAY Omega Ratio Rank: 85
DMAY Calmar Ratio Rank: 74
DMAY Martin Ratio Rank: 90

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.

LOHA vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Roundhill HALO ETF (LOHA) and FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY). 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.

	LOHA	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.93	—
Sortino ratio: Return per unit of downside risk	—	2.86	—
Omega ratio: Gain probability vs. loss probability	—	1.41	—
Calmar ratio: Return relative to maximum drawdown	—	3.02	—
Martin ratio: Return relative to average drawdown	—	15.82	—

Drawdowns

LOHA vs. DMAY - Drawdown Comparison

The maximum LOHA drawdown since its inception was -2.48%, smaller than the maximum DMAY drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for LOHA and DMAY.

Drawdown Indicators

	LOHA	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-2.48%	-13.90%	+11.42%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.36%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.38%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.90%	—
Current Drawdown Current decline from peak	0.00%	-0.21%	+0.21%
Average Drawdown Average peak-to-trough decline	-0.87%	-2.21%	+1.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.64%	—

Volatility

Volatility by Period

	LOHA	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.04%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.57%	—
Volatility (1Y) Calculated over the trailing 1-year period	14.50%	5.26%	+9.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.50%	9.09%	+5.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.50%	8.42%	+6.08%

LOHA vs. DMAY - Expense Ratio Comparison

LOHA has a 0.35% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

LOHA vs. DMAY - Dividend Comparison

Neither LOHA nor DMAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both LOHA and DMAY in my portfolio?

LOHA and DMAY have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, LOHA or DMAY?

On fees, LOHA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, LOHA or DMAY?

LOHA is cheaper with a 0.35% expense ratio, compared with 0.85% for DMAY.

Which ETF pays a higher dividend yield, LOHA or DMAY?

LOHA and DMAY have nearly identical dividend yields, around 0.00%.

What is the main difference between LOHA and DMAY?

LOHA is categorized as Large Cap Blend Equities, while DMAY is Defined Outcome. LOHA tracks Akros U.S. Heavy Assets Low Obsolescence (HALO) Index, while DMAY tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. They also come from different issuers: Roundhill and First Trust. Their fees differ too: 0.35% for LOHA and 0.85% for DMAY.