RSMR vs. ZMAY

Last updated Aug 2, 2026

RSMR (FT Vest U.S. Equity Equal Weight Buffer ETF - March) and ZMAY (Innovator Equity Defined Protection ETF - 1 Yr May) are both Defined Outcome funds. RSMR is passively managed, while ZMAY is actively managed. Over the past year, RSMR returned 14.56% vs 5.14% for ZMAY. Their 0.60 correlation means they have sometimes moved together and sometimes differently. RSMR charges 0.85%/yr vs 0.79%/yr for ZMAY.

Performance

RSMR vs. ZMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Equal Weight Buffer ETF - March (RSMR) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RSMR achieves a 8.90% return, which is significantly higher than ZMAY's 2.57% return.

RSMR

• 1D: 0.03%
• 1M: 0.59%
• 6M: 7.33%
• YTD: 8.90%
• 1Y: 14.56%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 12.89%

ZMAY

• 1D: 0.28%
• 1M: 0.52%
• 6M: 2.33%
• YTD: 2.57%
• 1Y: 5.14%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 5.49%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
RSMR FT Vest U.S. Equity Equal Weight Buffer ETF - March	$204.73K	$124.39K	$77.31K
ZMAY Innovator Equity Defined Protection ETF - 1 Yr May	$231.74K	$677.58K	$2.56M

RSMR vs. ZMAY - Yearly Performance Comparison

	2026 (YTD)	2025
RSMR FT Vest U.S. Equity Equal Weight Buffer ETF - March	8.90%	10.73%
ZMAY Innovator Equity Defined Protection ETF - 1 Yr May	2.57%	4.22%

Correlation

The correlation between RSMR and ZMAY is 0.56, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.56
Correlation (All Time) Calculated using the full available price history since May 1, 2025	0.60

The correlation between RSMR and ZMAY has been stable across timeframes, ranging from 0.56 to 0.60 - a consistent structural relationship.

Return for Risk

RSMR vs. ZMAY — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

RSMR

RSMR Risk / Return Rank: 90
RSMR Sharpe Ratio Rank: 87
RSMR Sortino Ratio Rank: 89
RSMR Omega Ratio Rank: 88
RSMR Calmar Ratio Rank: 91
RSMR Martin Ratio Rank: 93

ZMAY

ZMAY Risk / Return Rank: 97
ZMAY Sharpe Ratio Rank: 96
ZMAY Sortino Ratio Rank: 97
ZMAY Omega Ratio Rank: 96
ZMAY Calmar Ratio Rank: 97
ZMAY Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

RSMR vs. ZMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Equal Weight Buffer ETF - March (RSMR) and Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY). 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.

	RSMR	ZMAY	Difference
Sharpe ratio: Return per unit of total volatility	2.11	2.98	-0.87
Sortino ratio: Return per unit of downside risk	3.13	4.89	-1.76
Omega ratio: Gain probability vs. loss probability	1.41	1.66	-0.25
Calmar ratio: Return relative to maximum drawdown	4.10	7.36	-3.27
Martin ratio: Return relative to average drawdown	17.11	33.69	-16.57

RSMR vs. ZMAY - Sharpe Ratio Comparison

The current RSMR Sharpe Ratio is 2.11, which is comparable to the ZMAY Sharpe Ratio of 2.98. The chart below compares the historical Sharpe Ratios of RSMR and ZMAY, 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

RSMR vs. ZMAY - Drawdown Comparison

The maximum RSMR drawdown since its inception was -9.09%, which is greater than ZMAY's maximum drawdown of -0.70%. Use the drawdown chart below to compare losses from any high point for RSMR and ZMAY.

Drawdown Indicators

	RSMR	ZMAY	Difference
Max Drawdown Largest peak-to-trough decline	-9.09%	-0.70%	-8.39%
Max Drawdown (1Y) Largest decline over 1 year	-3.37%	-0.70%	-2.67%
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-0.76%	-0.09%	-0.67%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.81%	0.15%	+0.66%

Volatility

RSMR vs. ZMAY - Volatility Comparison

FT Vest U.S. Equity Equal Weight Buffer ETF - March (RSMR) has a higher volatility of 1.23% compared to Innovator Equity Defined Protection ETF - 1 Yr May (ZMAY) at 0.78%. This indicates that RSMR's price experiences larger fluctuations and is considered to be riskier than ZMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RSMR	ZMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.23%	0.78%	+0.45%
Volatility (6M) Calculated over the trailing 6-month period	4.66%	1.49%	+3.17%
Volatility (1Y) Calculated over the trailing 1-year period	6.56%	1.73%	+4.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.12%	1.79%	+8.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.12%	1.79%	+8.33%

RSMR vs. ZMAY - Expense Ratio Comparison

RSMR has a 0.85% expense ratio, which is higher than ZMAY's 0.79% expense ratio.

Dividends

RSMR vs. ZMAY - Dividend Comparison

Neither RSMR nor ZMAY has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both RSMR and ZMAY in my portfolio?

RSMR and ZMAY have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RSMR or ZMAY?

RSMR has higher volatility (1.23%) compared to ZMAY (0.78%). In terms of maximum drawdown, RSMR dropped -9.09% vs ZMAY's -0.70%.

Which ETF is better, RSMR or ZMAY?

On 1-year performance, RSMR leads with 14.56% vs 5.14% for ZMAY. On fees, ZMAY is cheaper at 0.79% per year. On volatility, ZMAY has been the lower-risk option at 0.78%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, RSMR or ZMAY?

Over the 1-year period, RSMR has performed better with a 14.56% return vs 5.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, RSMR or ZMAY?

ZMAY is cheaper with a 0.79% expense ratio, compared with 0.85% for RSMR.

Which ETF pays a higher dividend yield, RSMR or ZMAY?

RSMR and ZMAY have nearly identical dividend yields, around 0.00%.

What is the main difference between RSMR and ZMAY?

They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.85% for RSMR and 0.79% for ZMAY.

Which has better risk-adjusted returns?

ZMAY currently has the higher Sharpe Ratio (2.98 vs 2.11), 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.