SKRE vs. DMAY

Last updated Jun 4, 2026

SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds - SKRE tracks the S&P Regional Banks Select Industry while DMAY tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. Both are passively managed. Over the past year, SKRE returned -39.81% vs 12.37% for DMAY. At a correlation of -0.49, they often move in opposite directions. SKRE charges 0.75%/yr vs 0.85%/yr for DMAY.

Performance

SKRE vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) 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, SKRE achieves a -14.51% return, which is significantly lower than DMAY's 4.42% return.

SKRE

• 1D: 4.58%
• 1M: 2.45%
• YTD: -14.51%
• 6M: -16.27%
• 1Y: -39.81%
• 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)

SKRE vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	-14.51%	-31.29%	-44.51%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.42%	11.05%	13.53%

Correlation

The correlation between SKRE and DMAY is -0.50, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.50
Correlation (All Time) Calculated using the full available price history since Jan 5, 2024	-0.49

Return for Risk

SKRE vs. DMAY — Risk / Return Rank

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

SKRE

SKRE Risk / Return Rank: 2
SKRE Sharpe Ratio Rank: 2
SKRE Sortino Ratio Rank: 2
SKRE Omega Ratio Rank: 2
SKRE Calmar Ratio Rank: 2
SKRE Martin Ratio Rank: 3

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.

SKRE vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) 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.

	SKRE	DMAY	Difference
Sharpe ratio Return per unit of total volatility	-0.85	2.65	-3.51
Sortino ratio Return per unit of downside risk	-1.18	4.00	-5.18
Omega ratio Gain probability vs. loss probability	0.86	1.60	-0.74
Calmar ratio Return relative to maximum drawdown	-0.81	3.73	-4.54
Martin ratio Return relative to average drawdown	-1.22	22.76	-23.98
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SKRE vs. DMAY - Sharpe Ratio Comparison

The current SKRE Sharpe Ratio is -0.85, which is lower than the DMAY Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of SKRE 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

	SKRE	DMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.85	2.65	-3.51
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.80	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.67	0.88	-1.55

Drawdowns

SKRE vs. DMAY - Drawdown Comparison

The maximum SKRE drawdown since its inception was -75.30%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for SKRE and DMAY.

Drawdown Indicators

	SKRE	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-75.30%	-13.90%	-61.40%
Max Drawdown (1Y) Largest decline over 1 year	-49.06%	-3.36%	-45.70%
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	-72.27%	-0.30%	-71.97%
Average Drawdown Average peak-to-trough decline	-47.26%	-2.24%	-45.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	32.67%	0.55%	+32.12%

Volatility

SKRE vs. DMAY - Volatility Comparison

Tuttle Capital Daily 2X Inverse Regional Banks ETF (SKRE) has a higher volatility of 12.32% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 0.84%. This indicates that SKRE'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

	SKRE	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	12.32%	0.84%	+11.48%
Volatility (6M) Calculated over the trailing 6-month period	31.62%	3.74%	+27.88%
Volatility (1Y) Calculated over the trailing 1-year period	46.92%	4.73%	+42.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	55.73%	9.02%	+46.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	55.73%	8.43%	+47.30%

SKRE vs. DMAY - Expense Ratio Comparison

SKRE has a 0.75% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

SKRE vs. DMAY - Dividend Comparison

SKRE's dividend yield for the trailing twelve months is around 0.30%, 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%
SKRE Tuttle Capital Daily 2X Inverse Regional Banks ETF	0.30%	0.26%	3.16%

Frequently Asked Questions

Can I hold both SKRE and DMAY in my portfolio?

SKRE and DMAY have a correlation of -0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SKRE or DMAY?

SKRE has higher volatility (12.32%) compared to DMAY (0.84%). In terms of maximum drawdown, SKRE dropped -75.30% vs DMAY's -13.90%.

Which ETF is better, SKRE or DMAY?

On 1-year performance, DMAY leads with 12.37% vs -39.81% for SKRE. On fees, SKRE is cheaper at 0.75% 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, SKRE or DMAY?

Over the 1-year period, DMAY has performed better with a 12.37% return vs -39.81%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SKRE or DMAY?

SKRE is cheaper with a 0.75% expense ratio, compared with 0.85% for DMAY.

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

SKRE has the higher dividend yield at 0.30%, compared with 0.00% for DMAY.

What is the main difference between SKRE and DMAY?

SKRE tracks S&P Regional Banks Select Industry, while DMAY tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. They also come from different issuers: Tuttle and First Trust. Their fees differ too: 0.75% for SKRE and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (2.65 vs -0.85), 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.