SPCT vs. DMAY

Last updated Jul 12, 2026

SPCT (Liberty One Spectrum ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both exchange-traded funds - SPCT is a Large Cap Blend Equities fund actively managed by Liberty One, while DMAY is a Defined Outcome fund tracking the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. SPCT is actively managed, while DMAY is passively managed. At a 0.42 correlation, their price movements are largely independent. Both charge a 0.85% expense ratio.

Performance

SPCT vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Liberty One Spectrum ETF (SPCT) 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, SPCT achieves a 9.09% return, which is significantly higher than DMAY's 4.70% return.

SPCT

• 1D: 0.54%
• 1M: 1.72%
• 6M: 7.40%
• YTD: 9.09%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

DMAY

• 1D: 0.26%
• 1M: 1.23%
• 6M: 4.19%
• YTD: 4.70%
• 1Y: 10.12%
• 3Y*: 11.38%
• 5Y*: 6.98%
• 10Y*: —

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

SPCT vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025
SPCT Liberty One Spectrum ETF	9.09%	1.93%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	4.70%	2.15%

Correlation

The correlation between SPCT and DMAY is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.42

Return for Risk

SPCT vs. DMAY — Risk / Return Rank

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

SPCT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

DMAY

DMAY Risk / Return Rank: 82
DMAY Sharpe Ratio Rank: 77
DMAY Sortino Ratio Rank: 81
DMAY Omega Ratio Rank: 87
DMAY Calmar Ratio Rank: 74
DMAY Martin Ratio Rank: 90

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.

SPCT vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Liberty One Spectrum ETF (SPCT) 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.

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.

	SPCT	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	—	1.94	—
Sortino ratio: Return per unit of downside risk	—	2.89	—
Omega ratio: Gain probability vs. loss probability	—	1.42	—
Calmar ratio: Return relative to maximum drawdown	—	3.03	—
Martin ratio: Return relative to average drawdown	—	15.90	—

Drawdowns

SPCT vs. DMAY - Drawdown Comparison

The maximum SPCT drawdown since its inception was -7.17%, smaller than the maximum DMAY drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for SPCT and DMAY.

Drawdown Indicators

	SPCT	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-7.17%	-13.90%	+6.73%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.36%	—
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	-0.32%	-0.03%	-0.29%
Average Drawdown Average peak-to-trough decline	-1.51%	-2.22%	+0.71%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.64%	—

Volatility

Volatility by Period

	SPCT	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.41%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.30%	5.24%	+4.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.30%	9.09%	+0.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.30%	8.42%	+0.88%

SPCT vs. DMAY - Expense Ratio Comparison

Both SPCT and DMAY have an expense ratio of 0.85%.

Dividends

SPCT vs. DMAY - Dividend Comparison

SPCT's dividend yield for the trailing twelve months is around 0.74%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%
SPCT Liberty One Spectrum ETF	0.74%	0.16%

Frequently Asked Questions

Can I hold both SPCT and DMAY in my portfolio?

SPCT and DMAY have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, SPCT or DMAY?

Both ETFs have the same 0.85% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, SPCT or DMAY?

SPCT and DMAY have the same expense ratio: 0.85% per year.

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

SPCT has the higher dividend yield at 0.74%, compared with 0.00% for DMAY.

What is the main difference between SPCT and DMAY?

SPCT is categorized as Large Cap Blend Equities, while DMAY is Defined Outcome. They also come from different issuers: Liberty One and First Trust.