NBCR vs. DMAY

Last updated Jun 4, 2026

NBCR (Neuberger Core Equity ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds. NBCR is actively managed, while DMAY is passively managed. Over the past year, NBCR returned 22.21% vs 12.37% for DMAY. Their correlation of 0.92 suggests significant overlap in exposure. NBCR charges 0.29%/yr vs 0.85%/yr for DMAY.

Performance

NBCR vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Neuberger Core Equity ETF (NBCR) 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

In the year-to-date period, NBCR achieves a 6.67% return, which is significantly higher than DMAY's 4.42% return.

NBCR

• 1D: -0.71%
• 1M: 3.26%
• YTD: 6.67%
• 6M: 6.50%
• 1Y: 22.21%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.30%
• 1M: 1.30%
• YTD: 4.42%
• 6M: 5.19%
• 1Y: 12.37%
• 3Y*: 11.96%
• 5Y*: 7.16%
• 10Y*: —

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

NBCR vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
NBCR Neuberger Core Equity ETF	6.67%	18.69%	6.82%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.42%	11.05%	6.02%

Correlation

The correlation between NBCR and DMAY is 0.90, 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	0.90
Correlation (All Time) Calculated using the full available price history since Aug 2, 2024	0.92

The correlation between NBCR and DMAY has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.

Return for Risk

NBCR vs. DMAY — Risk / Return Rank

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

NBCR

NBCR Risk / Return Rank: 55
NBCR Sharpe Ratio Rank: 59
NBCR Sortino Ratio Rank: 59
NBCR Omega Ratio Rank: 59
NBCR Calmar Ratio Rank: 45
NBCR Martin Ratio Rank: 54

DMAY

DMAY Risk / Return Rank: 85
DMAY Sharpe Ratio Rank: 82
DMAY Sortino Ratio Rank: 88
DMAY Omega Ratio Rank: 91
DMAY Calmar Ratio Rank: 75
DMAY Martin Ratio Rank: 92

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.

NBCR vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Neuberger Core Equity ETF (NBCR) 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.

	NBCR	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.94	2.65	-0.71
Sortino ratio: Return per unit of downside risk	2.76	4.00	-1.25
Omega ratio: Gain probability vs. loss probability	1.35	1.60	-0.24
Calmar ratio: Return relative to maximum drawdown	2.15	3.73	-1.57
Martin ratio: Return relative to average drawdown	9.24	22.76	-13.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NBCR vs. DMAY - Sharpe Ratio Comparison

The current NBCR Sharpe Ratio is 1.94, which is comparable to the DMAY Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of NBCR and DMAY, 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

	NBCR	DMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.94	2.65	-0.71
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.08	0.88	+0.20

Drawdowns

NBCR vs. DMAY - Drawdown Comparison

The maximum NBCR drawdown since its inception was -18.23%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for NBCR and DMAY.

Drawdown Indicators

	NBCR	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-18.23%	-13.90%	-4.33%
Max Drawdown (1Y) Largest decline over 1 year	-10.35%	-3.36%	-6.99%
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	-0.91%	-0.30%	-0.61%
Average Drawdown Average peak-to-trough decline	-2.22%	-2.24%	+0.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.41%	0.55%	+1.86%

Volatility

NBCR vs. DMAY - Volatility Comparison

Neuberger Core Equity ETF (NBCR) has a higher volatility of 2.86% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 0.84%. This indicates that NBCR's price experiences larger fluctuations and is considered to be riskier than DMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NBCR	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	0.84%	+2.02%
Volatility (6M) Calculated over the trailing 6-month period	8.80%	3.74%	+5.06%
Volatility (1Y) Calculated over the trailing 1-year period	11.51%	4.73%	+6.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.68%	9.02%	+7.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.68%	8.43%	+8.25%

NBCR vs. DMAY - Expense Ratio Comparison

NBCR has a 0.29% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

NBCR vs. DMAY - Dividend Comparison

NBCR's dividend yield for the trailing twelve months is around 0.43%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025	2024
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%	0.00%
NBCR Neuberger Core Equity ETF	0.43%	0.45%	0.47%

Frequently Asked Questions

Can I hold both NBCR and DMAY in my portfolio?

NBCR and DMAY have a correlation of 0.90, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NBCR or DMAY?

NBCR has higher volatility (2.86%) compared to DMAY (0.84%). In terms of maximum drawdown, NBCR dropped -18.23% vs DMAY's -13.90%.

Which ETF is better, NBCR or DMAY?

On 1-year performance, NBCR leads with 22.21% vs 12.37% for DMAY. On fees, NBCR is cheaper at 0.29% per year. On volatility, DMAY has been the lower-risk option at 0.84%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, NBCR or DMAY?

Over the 1-year period, NBCR has performed better with a 22.21% return vs 12.37%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, NBCR or DMAY?

NBCR is cheaper with a 0.29% expense ratio, compared with 0.85% for DMAY.

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

NBCR has the higher dividend yield at 0.43%, compared with 0.00% for DMAY.

What is the main difference between NBCR and DMAY?

They also come from different issuers: Neuberger and First Trust. Their fees differ too: 0.29% for NBCR and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (2.65 vs 1.94), 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.