MAYU vs. FBUF

Last updated Jun 26, 2026

MAYU (AllianzIM U.S. Equity Buffer15 Uncapped May ETF) and FBUF (Fidelity Dynamic Buffered Equity ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, MAYU returned 18.16% vs 15.06% for FBUF. Their correlation of 0.93 suggests significant overlap in exposure. MAYU charges 0.74%/yr vs 0.48%/yr for FBUF.

Performance

MAYU vs. FBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Equity Buffer15 Uncapped May ETF (MAYU) and Fidelity Dynamic Buffered Equity ETF (FBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAYU achieves a 6.85% return, which is significantly higher than FBUF's 3.34% return.

MAYU

• 1D: -0.06%
• 1M: -1.70%
• YTD: 6.85%
• 6M: 5.64%
• 1Y: 18.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBUF

• 1D: -0.11%
• 1M: -1.39%
• YTD: 3.34%
• 6M: 2.59%
• 1Y: 15.06%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MAYU vs. FBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MAYU AllianzIM U.S. Equity Buffer15 Uncapped May ETF	6.85%	10.89%	13.50%
FBUF Fidelity Dynamic Buffered Equity ETF	3.34%	14.01%	12.62%

Correlation

The correlation between MAYU and FBUF 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 May 1, 2024	0.93

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

Return for Risk

MAYU vs. FBUF — Risk / Return Rank

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

MAYU

MAYU Risk / Return Rank: 50
MAYU Sharpe Ratio Rank: 52
MAYU Sortino Ratio Rank: 51
MAYU Omega Ratio Rank: 50
MAYU Calmar Ratio Rank: 44
MAYU Martin Ratio Rank: 56

FBUF

FBUF Risk / Return Rank: 67
FBUF Sharpe Ratio Rank: 66
FBUF Sortino Ratio Rank: 62
FBUF Omega Ratio Rank: 72
FBUF Calmar Ratio Rank: 63
FBUF Martin Ratio Rank: 71

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.

MAYU vs. FBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Equity Buffer15 Uncapped May ETF (MAYU) and Fidelity Dynamic Buffered Equity ETF (FBUF). 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.

	MAYU	FBUF	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.88	-0.28
Sortino ratio: Return per unit of downside risk	2.24	2.52	-0.28
Omega ratio: Gain probability vs. loss probability	1.29	1.37	-0.08
Calmar ratio: Return relative to maximum drawdown	2.00	2.69	-0.70
Martin ratio: Return relative to average drawdown	8.70	11.39	-2.69

MAYU vs. FBUF - Sharpe Ratio Comparison

The current MAYU Sharpe Ratio is 1.60, which is comparable to the FBUF Sharpe Ratio of 1.88. The chart below compares the historical Sharpe Ratios of MAYU and FBUF, 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

MAYU vs. FBUF - Drawdown Comparison

The maximum MAYU drawdown since its inception was -15.37%, which is greater than FBUF's maximum drawdown of -11.09%. Use the drawdown chart below to compare losses from any high point for MAYU and FBUF.

Drawdown Indicators

	MAYU	FBUF	Difference
Max Drawdown Largest peak-to-trough decline	-15.37%	-11.09%	-4.28%
Max Drawdown (1Y) Largest decline over 1 year	-9.14%	-5.61%	-3.53%
Current Drawdown Current decline from peak	-2.78%	-2.09%	-0.69%
Average Drawdown Average peak-to-trough decline	-2.28%	-1.38%	-0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	1.32%	+0.77%

Volatility

MAYU vs. FBUF - Volatility Comparison

AllianzIM U.S. Equity Buffer15 Uncapped May ETF (MAYU) and Fidelity Dynamic Buffered Equity ETF (FBUF) have volatilities of 3.50% and 3.39%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAYU	FBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.50%	3.39%	+0.11%
Volatility (6M) Calculated over the trailing 6-month period	8.99%	6.07%	+2.92%
Volatility (1Y) Calculated over the trailing 1-year period	11.43%	8.05%	+3.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.95%	9.67%	+3.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.95%	9.67%	+3.28%

MAYU vs. FBUF - Expense Ratio Comparison

MAYU has a 0.74% expense ratio, which is higher than FBUF's 0.48% expense ratio.

Dividends

MAYU vs. FBUF - Dividend Comparison

MAYU has not paid dividends to shareholders, while FBUF's dividend yield for the trailing twelve months is around 0.60%.

Position	TTM	2025	2024
FBUF Fidelity Dynamic Buffered Equity ETF	0.60%	0.64%	0.54%
MAYU AllianzIM U.S. Equity Buffer15 Uncapped May ETF	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAYU and FBUF in my portfolio?

With a correlation of 0.92, MAYU and FBUF 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, MAYU or FBUF?

MAYU has higher volatility (3.50%) compared to FBUF (3.39%). In terms of maximum drawdown, MAYU dropped -15.37% vs FBUF's -11.09%.

Which ETF is better, MAYU or FBUF?

On 1-year performance, MAYU leads with 18.16% vs 15.06% for FBUF. On fees, FBUF is cheaper at 0.48% per year. On volatility, FBUF has been the lower-risk option at 3.39%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYU or FBUF?

Over the 1-year period, MAYU has performed better with a 18.16% return vs 15.06%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYU or FBUF?

FBUF is cheaper with a 0.48% expense ratio, compared with 0.74% for MAYU.

Which ETF pays a higher dividend yield, MAYU or FBUF?

FBUF has the higher dividend yield at 0.60%, compared with 0.00% for MAYU.

What is the main difference between MAYU and FBUF?

They also come from different issuers: Allianz and Fidelity. Their fees differ too: 0.74% for MAYU and 0.48% for FBUF.

Which has better risk-adjusted returns?

FBUF currently has the higher Sharpe Ratio (1.88 vs 1.60), 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.