STOX vs. FMAY

Last updated Jun 4, 2026

STOX (Horizon Core Equity ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds. Their correlation of 0.91 suggests significant overlap in exposure. STOX charges 0.70%/yr vs 0.85%/yr for FMAY.

Performance

STOX vs. FMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Horizon Core Equity ETF (STOX) 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, STOX achieves a 10.00% return, which is significantly higher than FMAY's 5.39% return.

STOX

• 1D: -0.18%
• 1M: 4.95%
• YTD: 10.00%
• 6M: 10.04%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAY

• 1D: -0.38%
• 1M: 1.63%
• YTD: 5.39%
• 6M: 6.32%
• 1Y: 15.38%
• 3Y*: 14.13%
• 5Y*: 9.48%
• 10Y*: —

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

STOX vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025
STOX Horizon Core Equity ETF	10.00%	12.56%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	5.39%	7.57%

Correlation

The correlation between STOX and FMAY is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 27, 2025	0.91

Return for Risk

STOX vs. FMAY — Risk / Return Rank

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

FMAY

FMAY Risk / Return Rank: 83
FMAY Sharpe Ratio Rank: 79
FMAY Sortino Ratio Rank: 85
FMAY Omega Ratio Rank: 87
FMAY Calmar Ratio Rank: 74
FMAY Martin Ratio Rank: 91

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.

STOX vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Horizon Core Equity ETF (STOX) 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.

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

Sharpe Ratios by Period

	STOX	FMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.56	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.90	—
Sharpe Ratio (All Time) Calculated using the full available price history	2.08	1.02	+1.06

Drawdowns

STOX vs. FMAY - Drawdown Comparison

The maximum STOX drawdown since its inception was -9.33%, smaller than the maximum FMAY drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for STOX and FMAY.

Drawdown Indicators

	STOX	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-9.33%	-13.60%	+4.27%
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	-0.18%	-0.38%	+0.20%
Average Drawdown Average peak-to-trough decline	-1.16%	-2.01%	+0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.72%	—

Volatility

Volatility by Period

	STOX	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.02%	—
Volatility (6M) Calculated over the trailing 6-month period	—	4.59%	—
Volatility (1Y) Calculated over the trailing 1-year period	12.39%	6.04%	+6.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.39%	10.59%	+1.80%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.39%	10.15%	+2.24%

STOX vs. FMAY - Expense Ratio Comparison

STOX has a 0.70% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

STOX vs. FMAY - Dividend Comparison

STOX's dividend yield for the trailing twelve months is around 0.17%, 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%
STOX Horizon Core Equity ETF	0.17%	0.19%

Frequently Asked Questions

Can I hold both STOX and FMAY in my portfolio?

With a correlation of 0.91, STOX and FMAY move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which ETF is better, STOX or FMAY?

On fees, STOX is cheaper at 0.70% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, STOX or FMAY?

STOX is cheaper with a 0.70% expense ratio, compared with 0.85% for FMAY.

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

STOX has the higher dividend yield at 0.17%, compared with 0.00% for FMAY.

What is the main difference between STOX and FMAY?

They also come from different issuers: Horizon and First Trust. Their fees differ too: 0.70% for STOX and 0.85% for FMAY.