SPCT vs. FMAY

Last updated Jun 23, 2026

SPCT (Liberty One Spectrum ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds. SPCT is actively managed, while FMAY is passively managed. A 0.51 correlation means they provide meaningful diversification when combined. Both charge a 0.85% expense ratio.

Performance

SPCT vs. FMAY - 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 Buffer ETF - May (FMAY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SPCT achieves a 6.70% return, which is significantly higher than FMAY's 4.83% return.

SPCT

• 1D: -0.41%
• 1M: -1.53%
• YTD: 6.70%
• 6M: 6.53%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAY

• 1D: -0.26%
• 1M: 0.20%
• YTD: 4.83%
• 6M: 4.96%
• 1Y: 14.67%
• 3Y*: 13.45%
• 5Y*: 9.27%
• 10Y*: —

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

SPCT vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025
SPCT Liberty One Spectrum ETF	6.70%	1.93%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	4.83%	2.47%

Correlation

The correlation between SPCT and FMAY is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.51

Return for Risk

SPCT vs. FMAY — 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.

FMAY

FMAY Risk / Return Rank: 79
FMAY Sharpe Ratio Rank: 73
FMAY Sortino Ratio Rank: 77
FMAY Omega Ratio Rank: 83
FMAY Calmar Ratio Rank: 71
FMAY Martin Ratio Rank: 89

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. FMAY - 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 Buffer ETF - May (FMAY). 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	FMAY	Difference
Sharpe ratio: Return per unit of total volatility	—	2.27	—
Sortino ratio: Return per unit of downside risk	—	3.27	—
Omega ratio: Gain probability vs. loss probability	—	1.48	—
Calmar ratio: Return relative to maximum drawdown	—	3.49	—
Martin ratio: Return relative to average drawdown	—	18.92	—

Drawdowns

SPCT vs. FMAY - Drawdown Comparison

The maximum SPCT drawdown since its inception was -7.17%, smaller than the maximum FMAY drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for SPCT and FMAY.

Drawdown Indicators

	SPCT	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-7.17%	-13.60%	+6.43%
Max Drawdown (1Y) Largest decline over 1 year	—	-4.22%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-13.12%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.60%	—
Current Drawdown Current decline from peak	-2.05%	-0.91%	-1.14%
Average Drawdown Average peak-to-trough decline	-1.54%	-2.00%	+0.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.78%	—

Volatility

Volatility by Period

	SPCT	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	3.00%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.36%	—
Volatility (1Y) Calculated over the trailing 1-year period	9.33%	6.50%	+2.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.33%	10.65%	-1.32%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.33%	10.17%	-0.84%

SPCT vs. FMAY - Expense Ratio Comparison

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

Dividends

SPCT vs. FMAY - Dividend Comparison

SPCT's dividend yield for the trailing twelve months is around 0.75%, while FMAY has not paid dividends to shareholders.

Position	TTM	2025
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%
SPCT Liberty One Spectrum ETF	0.75%	0.16%

Frequently Asked Questions

Can I hold both SPCT and FMAY in my portfolio?

SPCT and FMAY have a correlation of 0.51, 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 FMAY?

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 FMAY?

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

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

SPCT has the higher dividend yield at 0.75%, compared with 0.00% for FMAY.

What is the main difference between SPCT and FMAY?

They also come from different issuers: Liberty One and First Trust.