QBIG vs. DMAY

Last updated Jun 5, 2026

QBIG (Invesco Top QQQ ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds. QBIG is actively managed, while DMAY is passively managed. Over the past year, QBIG returned 35.53% vs 12.58% for DMAY. A 0.79 correlation means they provide meaningful diversification when combined. QBIG charges 0.29%/yr vs 0.85%/yr for DMAY.

Performance

QBIG vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Top QQQ ETF (QBIG) 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, QBIG achieves a 8.86% return, which is significantly higher than DMAY's 4.64% return.

QBIG

• 1D: 0.06%
• 1M: 3.57%
• YTD: 8.86%
• 6M: 6.25%
• 1Y: 35.53%
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: 0.21%
• 1M: 1.46%
• YTD: 4.64%
• 6M: 5.44%
• 1Y: 12.58%
• 3Y*: 12.08%
• 5Y*: 7.21%
• 10Y*: —

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

QBIG vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
QBIG Invesco Top QQQ ETF	8.86%	21.46%	3.04%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.64%	11.05%	-1.16%

Correlation

The correlation between QBIG and DMAY is 0.74, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.74
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.79

The correlation between QBIG and DMAY has been stable across timeframes, ranging from 0.74 to 0.79 - a consistent structural relationship.

QBIG vs. DMAY - Sectors Allocation Comparison

Sectors	QBIG	DMAY
Technology	19.4%	36.2%
Financial Services	14.8%	11.9%
Consumer Cyclical	7.9%	10.1%
Communication Services	6.0%	10.9%
Basic Materials	-	1.8%
Consumer Defensive	-	4.9%
Energy	-	3.5%
Healthcare	-	8.4%
Industrials	-	8.1%
Real Estate	-	1.9%
Utilities	-	2.3%

Return for Risk

QBIG vs. DMAY — Risk / Return Rank

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

QBIG

QBIG Risk / Return Rank: 46
QBIG Sharpe Ratio Rank: 55
QBIG Sortino Ratio Rank: 51
QBIG Omega Ratio Rank: 50
QBIG Calmar Ratio Rank: 37
QBIG Martin Ratio Rank: 37

DMAY

DMAY Risk / Return Rank: 87
DMAY Sharpe Ratio Rank: 84
DMAY Sortino Ratio Rank: 89
DMAY Omega Ratio Rank: 92
DMAY Calmar Ratio Rank: 76
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.

QBIG vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Top QQQ ETF (QBIG) 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.

	QBIG	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.70	-0.86
Sortino ratio: Return per unit of downside risk	2.45	4.06	-1.61
Omega ratio: Gain probability vs. loss probability	1.31	1.61	-0.30
Calmar ratio: Return relative to maximum drawdown	1.81	3.79	-1.98
Martin ratio: Return relative to average drawdown	5.66	23.15	-17.49
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

QBIG vs. DMAY - Sharpe Ratio Comparison

The current QBIG Sharpe Ratio is 1.84, which is lower than the DMAY Sharpe Ratio of 2.70. The chart below compares the historical Sharpe Ratios of QBIG 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

	QBIG	DMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.70	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.88	-0.03

Drawdowns

QBIG vs. DMAY - Drawdown Comparison

The maximum QBIG drawdown since its inception was -30.33%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for QBIG and DMAY.

Drawdown Indicators

	QBIG	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-30.33%	-13.90%	-16.43%
Max Drawdown (1Y) Largest decline over 1 year	-19.70%	-3.36%	-16.34%
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	-3.28%	-0.08%	-3.20%
Average Drawdown Average peak-to-trough decline	-7.01%	-2.24%	-4.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.30%	0.55%	+5.75%

Volatility

QBIG vs. DMAY - Volatility Comparison

Invesco Top QQQ ETF (QBIG) has a higher volatility of 5.32% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 0.85%. This indicates that QBIG'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

	QBIG	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.32%	0.85%	+4.47%
Volatility (6M) Calculated over the trailing 6-month period	14.63%	3.74%	+10.89%
Volatility (1Y) Calculated over the trailing 1-year period	19.42%	4.73%	+14.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	27.28%	9.02%	+18.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	27.28%	8.42%	+18.86%

QBIG vs. DMAY - Expense Ratio Comparison

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

Dividends

QBIG vs. DMAY - Dividend Comparison

Neither QBIG nor DMAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both QBIG and DMAY in my portfolio?

QBIG and DMAY have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, QBIG or DMAY?

QBIG has higher volatility (5.32%) compared to DMAY (0.85%). In terms of maximum drawdown, QBIG dropped -30.33% vs DMAY's -13.90%.

Which ETF is better, QBIG or DMAY?

On 1-year performance, QBIG leads with 35.53% vs 12.58% for DMAY. On fees, QBIG is cheaper at 0.29% per year. On volatility, DMAY has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, QBIG or DMAY?

Over the 1-year period, QBIG has performed better with a 35.53% return vs 12.58%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, QBIG or DMAY?

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

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

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

What is the main difference between QBIG and DMAY?

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

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (2.70 vs 1.84), 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.