SUPP vs. FMAY

Last updated Jun 25, 2026

SUPP (TCW Transform Supply Chain ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds. SUPP is actively managed, while FMAY is passively managed. Over the past 3 years, SUPP returned 18.46%/yr vs 13.16%/yr for FMAY. A 0.79 correlation means they provide meaningful diversification when combined. SUPP charges 0.75%/yr vs 0.85%/yr for FMAY.

Performance

SUPP vs. FMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TCW Transform Supply Chain ETF (SUPP) 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, SUPP achieves a 21.75% return, which is significantly higher than FMAY's 4.02% return.

SUPP

• 1D: 0.38%
• 1M: 5.19%
• YTD: 21.75%
• 6M: 20.34%
• 1Y: 28.75%
• 3Y*: 18.46%
• 5Y*: —
• 10Y*: —

FMAY

• 1D: 0.07%
• 1M: -0.57%
• YTD: 4.02%
• 6M: 3.86%
• 1Y: 12.21%
• 3Y*: 13.16%
• 5Y*: 8.98%
• 10Y*: —

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

SUPP vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
SUPP TCW Transform Supply Chain ETF	21.75%	11.65%	10.95%	12.32%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	4.02%	12.69%	14.45%	11.52%

Correlation

The correlation between SUPP and FMAY is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Feb 15, 2023	0.79

The correlation between SUPP and FMAY has been stable across timeframes, ranging from 0.72 to 0.79 - a consistent structural relationship.

SUPP vs. FMAY - Sectors Allocation Comparison

Sectors	SUPP	FMAY
Industrials	51.9%	7.8%
Technology	37.9%	39.0%
Consumer Cyclical	5.9%	9.9%
Basic Materials	4.3%	1.7%
Communication Services	-	10.6%
Consumer Defensive	-	4.5%
Energy	-	3.1%
Financial Services	-	11.1%
Healthcare	-	8.3%
Real Estate	-	1.8%
Utilities	-	2.1%

Return for Risk

SUPP vs. FMAY — Risk / Return Rank

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

SUPP

SUPP Risk / Return Rank: 47
SUPP Sharpe Ratio Rank: 44
SUPP Sortino Ratio Rank: 43
SUPP Omega Ratio Rank: 43
SUPP Calmar Ratio Rank: 49
SUPP Martin Ratio Rank: 56

FMAY

FMAY Risk / Return Rank: 72
FMAY Sharpe Ratio Rank: 66
FMAY Sortino Ratio Rank: 68
FMAY Omega Ratio Rank: 76
FMAY Calmar Ratio Rank: 67
FMAY Martin Ratio Rank: 85

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.

SUPP vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TCW Transform Supply Chain ETF (SUPP) 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.

	SUPP	FMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.37	1.89	-0.52
Sortino ratio: Return per unit of downside risk	1.96	2.70	-0.74
Omega ratio: Gain probability vs. loss probability	1.25	1.39	-0.14
Calmar ratio: Return relative to maximum drawdown	2.12	2.91	-0.78
Martin ratio: Return relative to average drawdown	8.62	15.45	-6.82

SUPP vs. FMAY - Sharpe Ratio Comparison

The current SUPP Sharpe Ratio is 1.37, which is comparable to the FMAY Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of SUPP and FMAY, 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

SUPP vs. FMAY - Drawdown Comparison

The maximum SUPP drawdown since its inception was -25.03%, which is greater than FMAY's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for SUPP and FMAY.

Drawdown Indicators

	SUPP	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-25.03%	-13.60%	-11.43%
Max Drawdown (1Y) Largest decline over 1 year	-13.59%	-4.22%	-9.37%
Max Drawdown (3Y) Largest decline over 3 years	-25.03%	-13.12%	-11.91%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.60%	—
Current Drawdown Current decline from peak	-3.32%	-1.67%	-1.65%
Average Drawdown Average peak-to-trough decline	-4.36%	-2.00%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.34%	0.79%	+2.55%

Volatility

SUPP vs. FMAY - Volatility Comparison

TCW Transform Supply Chain ETF (SUPP) has a higher volatility of 9.42% compared to FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) at 3.11%. This indicates that SUPP's price experiences larger fluctuations and is considered to be riskier than FMAY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SUPP	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.42%	3.11%	+6.31%
Volatility (6M) Calculated over the trailing 6-month period	18.12%	5.41%	+12.71%
Volatility (1Y) Calculated over the trailing 1-year period	21.11%	6.53%	+14.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.85%	10.66%	+9.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.85%	10.17%	+9.68%

SUPP vs. FMAY - Expense Ratio Comparison

SUPP has a 0.75% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

SUPP vs. FMAY - Dividend Comparison

SUPP's dividend yield for the trailing twelve months is around 0.29%, while FMAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	0.00%	0.00%	0.00%	0.00%
SUPP TCW Transform Supply Chain ETF	0.29%	0.35%	0.49%	0.45%

Frequently Asked Questions

Can I hold both SUPP and FMAY in my portfolio?

SUPP and FMAY have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SUPP or FMAY?

SUPP has higher volatility (9.42%) compared to FMAY (3.11%). In terms of maximum drawdown, SUPP dropped -25.03% vs FMAY's -13.60%.

Which ETF is better, SUPP or FMAY?

On 3-year performance, SUPP leads with 18.46% vs 13.16% for FMAY. On fees, SUPP is cheaper at 0.75% per year. On volatility, FMAY has been the lower-risk option at 3.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, SUPP or FMAY?

Over the 3-year period, SUPP has performed better with a 18.46% return vs 13.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, SUPP or FMAY?

SUPP is cheaper with a 0.75% expense ratio, compared with 0.85% for FMAY.

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

SUPP has the higher dividend yield at 0.29%, compared with 0.00% for FMAY.

What is the main difference between SUPP and FMAY?

They also come from different issuers: TCW and First Trust. Their fees differ too: 0.75% for SUPP and 0.85% for FMAY.

Which has better risk-adjusted returns?

FMAY currently has the higher Sharpe Ratio (1.89 vs 1.37), 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.