MAYM vs. SPXN

Last updated Jun 4, 2026

MAYM (FT Vest U.S. Equity Max Buffer ETF - May) and SPXN (ProShares S&P 500 Ex-Financials ETF) are both exchange-traded funds - MAYM is a Defined Outcome fund actively managed by First Trust, while SPXN is a S&P 500 fund tracking the S&P 500 Ex-Financials and Real Estate Index. MAYM is actively managed, while SPXN is passively managed. Over the past year, MAYM returned 6.36% vs 32.98% for SPXN. Their correlation of 0.83 suggests significant overlap in exposure. MAYM charges 0.85%/yr vs 0.09%/yr for SPXN.

Performance

MAYM vs. SPXN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Max Buffer ETF - May (MAYM) and ProShares S&P 500 Ex-Financials ETF (SPXN). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAYM achieves a 2.33% return, which is significantly lower than SPXN's 13.57% return.

MAYM

• 1D: -0.11%
• 1M: 0.49%
• YTD: 2.33%
• 6M: 2.86%
• 1Y: 6.36%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPXN

• 1D: -0.59%
• 1M: 6.16%
• YTD: 13.57%
• 6M: 13.21%
• 1Y: 32.98%
• 3Y*: 23.31%
• 5Y*: 14.93%
• 10Y*: 16.26%

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

MAYM vs. SPXN - Yearly Performance Comparison

	2026 (YTD)	2025
MAYM FT Vest U.S. Equity Max Buffer ETF - May	2.33%	4.07%
SPXN ProShares S&P 500 Ex-Financials ETF	13.57%	17.65%

Correlation

The correlation between MAYM and SPXN is 0.82, 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	0.82
Correlation (All Time) Calculated using the full available price history since May 20, 2025	0.83

The correlation between MAYM and SPXN has been stable across timeframes, ranging from 0.82 to 0.83 - a consistent structural relationship.

Return for Risk

MAYM vs. SPXN — Risk / Return Rank

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

MAYM

MAYM Risk / Return Rank: 94
MAYM Sharpe Ratio Rank: 93
MAYM Sortino Ratio Rank: 96
MAYM Omega Ratio Rank: 97
MAYM Calmar Ratio Rank: 89
MAYM Martin Ratio Rank: 96

SPXN

SPXN Risk / Return Rank: 78
SPXN Sharpe Ratio Rank: 80
SPXN Sortino Ratio Rank: 77
SPXN Omega Ratio Rank: 78
SPXN Calmar Ratio Rank: 71
SPXN Martin Ratio Rank: 82

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.

MAYM vs. SPXN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Max Buffer ETF - May (MAYM) and ProShares S&P 500 Ex-Financials ETF (SPXN). 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.

	MAYM	SPXN	Difference
Sharpe ratio: Return per unit of total volatility	3.47	2.61	+0.85
Sortino ratio: Return per unit of downside risk	5.78	3.49	+2.29
Omega ratio: Gain probability vs. loss probability	1.91	1.47	+0.44
Calmar ratio: Return relative to maximum drawdown	5.25	3.58	+1.67
Martin ratio: Return relative to average drawdown	36.95	16.43	+20.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAYM vs. SPXN - Sharpe Ratio Comparison

The current MAYM Sharpe Ratio is 3.47, which is higher than the SPXN Sharpe Ratio of 2.61. The chart below compares the historical Sharpe Ratios of MAYM and SPXN, 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

	MAYM	SPXN	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.47	2.61	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.92	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.36	0.92	+2.43

Drawdowns

MAYM vs. SPXN - Drawdown Comparison

The maximum MAYM drawdown since its inception was -1.22%, smaller than the maximum SPXN drawdown of -32.10%. Use the drawdown chart below to compare losses from any high point for MAYM and SPXN.

Drawdown Indicators

	MAYM	SPXN	Difference
Max Drawdown Largest peak-to-trough decline	-1.22%	-32.10%	+30.88%
Max Drawdown (1Y) Largest decline over 1 year	-1.22%	-9.26%	+8.04%
Max Drawdown (3Y) Largest decline over 3 years	—	-19.56%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-24.47%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-32.10%	—
Current Drawdown Current decline from peak	-0.11%	-0.59%	+0.48%
Average Drawdown Average peak-to-trough decline	-0.08%	-4.00%	+3.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	2.01%	-1.84%

Volatility

MAYM vs. SPXN - Volatility Comparison

The current volatility for FT Vest U.S. Equity Max Buffer ETF - May (MAYM) is 0.34%, while ProShares S&P 500 Ex-Financials ETF (SPXN) has a volatility of 3.16%. This indicates that MAYM experiences smaller price fluctuations and is considered to be less risky than SPXN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAYM	SPXN	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	3.16%	-2.82%
Volatility (6M) Calculated over the trailing 6-month period	1.49%	9.69%	-8.20%
Volatility (1Y) Calculated over the trailing 1-year period	1.85%	12.70%	-10.85%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.87%	17.16%	-15.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.87%	17.64%	-15.77%

MAYM vs. SPXN - Expense Ratio Comparison

MAYM has a 0.85% expense ratio, which is higher than SPXN's 0.09% expense ratio.

Dividends

MAYM vs. SPXN - Dividend Comparison

MAYM has not paid dividends to shareholders, while SPXN's dividend yield for the trailing twelve months is around 0.87%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MAYM FT Vest U.S. Equity Max Buffer ETF - May	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
SPXN ProShares S&P 500 Ex-Financials ETF	0.87%	0.98%	1.12%	1.19%	1.35%	0.94%	1.09%	1.41%	1.76%	1.54%	2.60%	0.52%

Frequently Asked Questions

Can I hold both MAYM and SPXN in my portfolio?

MAYM and SPXN have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAYM or SPXN?

SPXN has higher volatility (3.16%) compared to MAYM (0.34%). In terms of maximum drawdown, MAYM dropped -1.22% vs SPXN's -32.10%.

Which ETF is better, MAYM or SPXN?

On 1-year performance, SPXN leads with 32.98% vs 6.36% for MAYM. On fees, SPXN is cheaper at 0.09% per year. On volatility, MAYM has been the lower-risk option at 0.34%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYM or SPXN?

Over the 1-year period, SPXN has performed better with a 32.98% return vs 6.36%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYM or SPXN?

SPXN is cheaper with a 0.09% expense ratio, compared with 0.85% for MAYM.

Which ETF pays a higher dividend yield, MAYM or SPXN?

SPXN has the higher dividend yield at 0.87%, compared with 0.00% for MAYM.

What is the main difference between MAYM and SPXN?

MAYM is categorized as Defined Outcome, while SPXN is S&P 500. They also come from different issuers: First Trust and ProShares. Their fees differ too: 0.85% for MAYM and 0.09% for SPXN.

Which has better risk-adjusted returns?

MAYM currently has the higher Sharpe Ratio (3.47 vs 2.61), 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.