MAYW vs. FTGC

Last updated Jun 25, 2026

MAYW (AllianzIM U.S. Large Cap Buffer20 May ETF) and FTGC (First Trust Global Tactical Commodity Strategy Fund) are both exchange-traded funds - MAYW is a Options Trading fund actively managed by Allianz, while FTGC is a Commodities fund actively managed by First Trust. Both are actively managed. Over the past 3 years, MAYW returned 10.51%/yr vs 13.63%/yr for FTGC. At a 0.11 correlation, their price movements are largely independent. MAYW charges 0.74%/yr vs 0.95%/yr for FTGC.

Performance

MAYW vs. FTGC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) and First Trust Global Tactical Commodity Strategy Fund (FTGC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MAYW achieves a 3.04% return, which is significantly lower than FTGC's 16.89% return.

MAYW

• 1D: -0.11%
• 1M: -0.23%
• YTD: 3.04%
• 6M: 3.03%
• 1Y: 8.08%
• 3Y*: 10.51%
• 5Y*: —
• 10Y*: —

FTGC

• 1D: -1.65%
• 1M: -8.90%
• YTD: 16.89%
• 6M: 15.85%
• 1Y: 28.35%
• 3Y*: 13.63%
• 5Y*: 11.70%
• 10Y*: 6.98%

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

MAYW vs. FTGC - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
MAYW AllianzIM U.S. Large Cap Buffer20 May ETF	3.04%	10.24%	12.08%	8.30%
FTGC First Trust Global Tactical Commodity Strategy Fund	16.89%	14.61%	9.96%	-0.42%

Correlation

The correlation between MAYW and FTGC is -0.02, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.02
Correlation (3Y) Calculated over the trailing 3-year period	0.08
Correlation (All Time) Calculated using the full available price history since May 1, 2023	0.11

The correlation between MAYW and FTGC shifts across timeframes, from -0.02 (1 year) to 0.11 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MAYW vs. FTGC — Risk / Return Rank

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

MAYW

MAYW Risk / Return Rank: 91
MAYW Sharpe Ratio Rank: 86
MAYW Sortino Ratio Rank: 89
MAYW Omega Ratio Rank: 91
MAYW Calmar Ratio Rank: 91
MAYW Martin Ratio Rank: 95

FTGC

FTGC Risk / Return Rank: 58
FTGC Sharpe Ratio Rank: 62
FTGC Sortino Ratio Rank: 58
FTGC Omega Ratio Rank: 59
FTGC Calmar Ratio Rank: 52
FTGC Martin Ratio Rank: 59

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.

MAYW vs. FTGC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) and First Trust Global Tactical Commodity Strategy Fund (FTGC). 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.

	MAYW	FTGC	Difference
Sharpe ratio: Return per unit of total volatility	2.45	1.83	+0.61
Sortino ratio: Return per unit of downside risk	3.59	2.48	+1.11
Omega ratio: Gain probability vs. loss probability	1.53	1.33	+0.20
Calmar ratio: Return relative to maximum drawdown	5.19	2.31	+2.88
Martin ratio: Return relative to average drawdown	25.62	9.40	+16.22

MAYW vs. FTGC - Sharpe Ratio Comparison

The current MAYW Sharpe Ratio is 2.45, which is higher than the FTGC Sharpe Ratio of 1.83. The chart below compares the historical Sharpe Ratios of MAYW and FTGC, 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

MAYW vs. FTGC - Drawdown Comparison

The maximum MAYW drawdown since its inception was -7.93%, smaller than the maximum FTGC drawdown of -59.47%. Use the drawdown chart below to compare losses from any high point for MAYW and FTGC.

Drawdown Indicators

	MAYW	FTGC	Difference
Max Drawdown Largest peak-to-trough decline	-7.93%	-59.47%	+51.54%
Max Drawdown (1Y) Largest decline over 1 year	-1.56%	-12.34%	+10.78%
Max Drawdown (3Y) Largest decline over 3 years	-7.93%	-12.34%	+4.41%
Max Drawdown (5Y) Largest decline over 5 years	—	-22.64%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.91%	—
Current Drawdown Current decline from peak	-0.86%	-12.34%	+11.48%
Average Drawdown Average peak-to-trough decline	-0.41%	-27.33%	+26.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.32%	3.02%	-2.70%

Volatility

MAYW vs. FTGC - Volatility Comparison

The current volatility for AllianzIM U.S. Large Cap Buffer20 May ETF (MAYW) is 1.84%, while First Trust Global Tactical Commodity Strategy Fund (FTGC) has a volatility of 3.33%. This indicates that MAYW experiences smaller price fluctuations and is considered to be less risky than FTGC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAYW	FTGC	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.84%	3.33%	-1.49%
Volatility (6M) Calculated over the trailing 6-month period	2.79%	13.32%	-10.53%
Volatility (1Y) Calculated over the trailing 1-year period	3.34%	15.64%	-12.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.55%	15.89%	-9.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.55%	14.72%	-8.17%

MAYW vs. FTGC - Expense Ratio Comparison

MAYW has a 0.74% expense ratio, which is lower than FTGC's 0.95% expense ratio.

Dividends

MAYW vs. FTGC - Dividend Comparison

MAYW has not paid dividends to shareholders, while FTGC's dividend yield for the trailing twelve months is around 16.40%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
FTGC First Trust Global Tactical Commodity Strategy Fund	16.40%	17.74%	3.05%	3.34%	10.35%	7.21%	0.00%	0.81%	0.80%	1.21%
MAYW AllianzIM U.S. Large Cap Buffer20 May ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MAYW and FTGC in my portfolio?

MAYW and FTGC have a correlation of -0.02, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAYW or FTGC?

FTGC has higher volatility (3.33%) compared to MAYW (1.84%). In terms of maximum drawdown, MAYW dropped -7.93% vs FTGC's -59.47%.

Which ETF is better, MAYW or FTGC?

On 3-year performance, FTGC leads with 13.63% vs 10.51% for MAYW. On fees, MAYW is cheaper at 0.74% per year. On volatility, MAYW has been the lower-risk option at 1.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MAYW or FTGC?

Over the 3-year period, FTGC has performed better with a 13.63% return vs 10.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MAYW or FTGC?

MAYW is cheaper with a 0.74% expense ratio, compared with 0.95% for FTGC.

Which ETF pays a higher dividend yield, MAYW or FTGC?

FTGC has the higher dividend yield at 16.40%, compared with 0.00% for MAYW.

What is the main difference between MAYW and FTGC?

MAYW is categorized as Options Trading, while FTGC is Commodities. They also come from different issuers: Allianz and First Trust. Their fees differ too: 0.74% for MAYW and 0.95% for FTGC.

Which has better risk-adjusted returns?

MAYW currently has the higher Sharpe Ratio (2.45 vs 1.83), 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.