USCA vs. DMAY

Last updated Jun 25, 2026

USCA (Xtrackers MSCI USA Climate Action Equity ETF) and DMAY (FT Cboe Vest U.S. Equity Deep Buffer ETF - May) are both Large Cap Blend Equities funds - USCA tracks the MSCI USA Climate Action Index - Benchmark TR Gross while DMAY tracks the Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. Both are passively managed. Over the past 3 years, USCA returned 18.60%/yr vs 11.21%/yr for DMAY. Their correlation of 0.91 suggests significant overlap in exposure. USCA charges 0.07%/yr vs 0.85%/yr for DMAY.

Performance

USCA vs. DMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Xtrackers MSCI USA Climate Action Equity ETF (USCA) 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

The year-to-date returns for both stocks are quite close, with USCA having a 3.32% return and DMAY slightly lower at 3.20%.

USCA

• 1D: -0.32%
• 1M: -2.21%
• YTD: 3.32%
• 6M: 2.05%
• 1Y: 13.94%
• 3Y*: 18.60%
• 5Y*: —
• 10Y*: —

DMAY

• 1D: -0.16%
• 1M: -0.56%
• YTD: 3.20%
• 6M: 3.06%
• 1Y: 9.84%
• 3Y*: 11.21%
• 5Y*: 6.75%
• 10Y*: —

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

USCA vs. DMAY - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
USCA Xtrackers MSCI USA Climate Action Equity ETF	3.32%	14.24%	27.24%	19.92%
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	3.20%	11.05%	12.82%	10.25%

Correlation

The correlation between USCA and DMAY is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (All Time) Calculated using the full available price history since Apr 4, 2023	0.91

The correlation between USCA and DMAY has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.

USCA vs. DMAY - Sectors Allocation Comparison

Sectors	USCA	DMAY
Technology	41.9%	39.0%
Communication Services	12.2%	10.6%
Consumer Cyclical	10.5%	9.9%
Healthcare	9.0%	8.3%
Financial Services	8.9%	11.1%
Industrials	6.6%	7.8%
Consumer Defensive	4.0%	4.5%
Energy	1.9%	3.1%
Real Estate	1.8%	1.8%
Utilities	1.7%	2.1%
Basic Materials	1.5%	1.7%

Return for Risk

USCA vs. DMAY — Risk / Return Rank

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

USCA

USCA Risk / Return Rank: 33
USCA Sharpe Ratio Rank: 34
USCA Sortino Ratio Rank: 32
USCA Omega Ratio Rank: 33
USCA Calmar Ratio Rank: 30
USCA Martin Ratio Rank: 37

DMAY

DMAY Risk / Return Rank: 76
DMAY Sharpe Ratio Rank: 70
DMAY Sortino Ratio Rank: 73
DMAY Omega Ratio Rank: 82
DMAY Calmar Ratio Rank: 67
DMAY Martin Ratio Rank: 87

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.

USCA vs. DMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Xtrackers MSCI USA Climate Action Equity ETF (USCA) 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.

	USCA	DMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.11	1.98	-0.86
Sortino ratio: Return per unit of downside risk	1.58	2.88	-1.31
Omega ratio: Gain probability vs. loss probability	1.20	1.43	-0.23
Calmar ratio: Return relative to maximum drawdown	1.37	2.96	-1.60
Martin ratio: Return relative to average drawdown	5.21	16.35	-11.14

USCA vs. DMAY - Sharpe Ratio Comparison

The current USCA Sharpe Ratio is 1.11, which is lower than the DMAY Sharpe Ratio of 1.98. The chart below compares the historical Sharpe Ratios of USCA 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.

Drawdowns

USCA vs. DMAY - Drawdown Comparison

The maximum USCA drawdown since its inception was -19.14%, which is greater than DMAY's maximum drawdown of -13.90%. Use the drawdown chart below to compare losses from any high point for USCA and DMAY.

Drawdown Indicators

	USCA	DMAY	Difference
Max Drawdown Largest peak-to-trough decline	-19.14%	-13.90%	-5.24%
Max Drawdown (1Y) Largest decline over 1 year	-10.25%	-3.36%	-6.89%
Max Drawdown (3Y) Largest decline over 3 years	-19.14%	-12.38%	-6.76%
Max Drawdown (5Y) Largest decline over 5 years	—	-13.90%	—
Current Drawdown Current decline from peak	-4.27%	-1.47%	-2.80%
Average Drawdown Average peak-to-trough decline	-2.17%	-2.23%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.68%	0.61%	+2.07%

Volatility

USCA vs. DMAY - Volatility Comparison

Xtrackers MSCI USA Climate Action Equity ETF (USCA) has a higher volatility of 4.74% compared to FT Cboe Vest U.S. Equity Deep Buffer ETF - May (DMAY) at 2.26%. This indicates that USCA'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

	USCA	DMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	2.26%	+2.48%
Volatility (6M) Calculated over the trailing 6-month period	9.85%	4.30%	+5.55%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	5.08%	+7.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.84%	9.06%	+5.78%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.84%	8.43%	+6.41%

USCA vs. DMAY - Expense Ratio Comparison

USCA has a 0.07% expense ratio, which is lower than DMAY's 0.85% expense ratio.

Dividends

USCA vs. DMAY - Dividend Comparison

USCA's dividend yield for the trailing twelve months is around 1.15%, while DMAY has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
DMAY FT Cboe Vest U.S. Equity Deep Buffer ETF - May	0.00%	0.00%	0.00%	0.00%
USCA Xtrackers MSCI USA Climate Action Equity ETF	1.15%	1.14%	1.22%	1.15%

Frequently Asked Questions

Can I hold both USCA and DMAY in my portfolio?

USCA and DMAY have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, USCA or DMAY?

USCA has higher volatility (4.74%) compared to DMAY (2.26%). In terms of maximum drawdown, USCA dropped -19.14% vs DMAY's -13.90%.

Which ETF is better, USCA or DMAY?

On 3-year performance, USCA leads with 18.60% vs 11.21% for DMAY. On fees, USCA is cheaper at 0.07% per year. On volatility, DMAY has been the lower-risk option at 2.26%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, USCA or DMAY?

Over the 3-year period, USCA has performed better with a 18.60% return vs 11.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, USCA or DMAY?

USCA is cheaper with a 0.07% expense ratio, compared with 0.85% for DMAY.

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

USCA has the higher dividend yield at 1.15%, compared with 0.00% for DMAY.

What is the main difference between USCA and DMAY?

USCA tracks MSCI USA Climate Action Index - Benchmark TR Gross, while DMAY tracks Cboe S&P 500 30% (-5% to -35%) Buffer Protect May Series Index. They also come from different issuers: Xtrackers and First Trust. Their fees differ too: 0.07% for USCA and 0.85% for DMAY.

Which has better risk-adjusted returns?

DMAY currently has the higher Sharpe Ratio (1.98 vs 1.11), 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.