YOKE vs. FMAY

Last updated Jun 6, 2026

YOKE (Yoke Core ETF) and FMAY (FT Cboe Vest U.S. Equity Buffer ETF - May) are both Large Cap Blend Equities funds. YOKE is actively managed, while FMAY is passively managed. Over the past year, YOKE returned 23.04% vs 13.31% for FMAY. Their correlation of 0.83 suggests significant overlap in exposure. YOKE charges 0.30%/yr vs 0.85%/yr for FMAY.

Performance

YOKE vs. FMAY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Yoke Core ETF (YOKE) 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, YOKE achieves a 15.00% return, which is significantly higher than FMAY's 3.87% return.

YOKE

• 1D: -2.62%
• 1M: 0.79%
• YTD: 15.00%
• 6M: 14.85%
• 1Y: 23.04%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FMAY

• 1D: -1.68%
• 1M: 0.05%
• YTD: 3.87%
• 6M: 4.65%
• 1Y: 13.31%
• 3Y*: 13.49%
• 5Y*: 9.17%
• 10Y*: —

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

YOKE vs. FMAY - Yearly Performance Comparison

	2026 (YTD)	2025
YOKE Yoke Core ETF	15.00%	9.95%
FMAY FT Cboe Vest U.S. Equity Buffer ETF - May	3.87%	10.80%

Correlation

The correlation between YOKE and FMAY is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Feb 25, 2025	0.83

The correlation between YOKE and FMAY has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

Return for Risk

YOKE vs. FMAY — Risk / Return Rank

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

YOKE

YOKE Risk / Return Rank: 62
YOKE Sharpe Ratio Rank: 59
YOKE Sortino Ratio Rank: 62
YOKE Omega Ratio Rank: 58
YOKE Calmar Ratio Rank: 62
YOKE Martin Ratio Rank: 71

FMAY

FMAY Risk / Return Rank: 80
FMAY Sharpe Ratio Rank: 75
FMAY Sortino Ratio Rank: 78
FMAY Omega Ratio Rank: 84
FMAY Calmar Ratio Rank: 71
FMAY 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.

YOKE vs. FMAY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Yoke Core ETF (YOKE) 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.

	YOKE	FMAY	Difference
Sharpe ratio: Return per unit of total volatility	1.84	2.28	-0.45
Sortino ratio: Return per unit of downside risk	2.66	3.26	-0.60
Omega ratio: Gain probability vs. loss probability	1.33	1.48	-0.15
Calmar ratio: Return relative to maximum drawdown	2.85	3.39	-0.54
Martin ratio: Return relative to average drawdown	12.40	19.63	-7.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

YOKE vs. FMAY - Sharpe Ratio Comparison

The current YOKE Sharpe Ratio is 1.84, which is comparable to the FMAY Sharpe Ratio of 2.28. The chart below compares the historical Sharpe Ratios of YOKE 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.

Sharpe Ratios by Period

	YOKE	FMAY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.84	2.28	-0.45
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.18	0.99	+0.19

Drawdowns

YOKE vs. FMAY - Drawdown Comparison

The maximum YOKE drawdown since its inception was -14.35%, which is greater than FMAY's maximum drawdown of -13.60%. Use the drawdown chart below to compare losses from any high point for YOKE and FMAY.

Drawdown Indicators

	YOKE	FMAY	Difference
Max Drawdown Largest peak-to-trough decline	-14.35%	-13.60%	-0.75%
Max Drawdown (1Y) Largest decline over 1 year	-8.57%	-4.22%	-4.35%
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	-2.62%	-1.81%	-0.81%
Average Drawdown Average peak-to-trough decline	-1.79%	-2.01%	+0.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.73%	+1.23%

Volatility

YOKE vs. FMAY - Volatility Comparison

Yoke Core ETF (YOKE) has a higher volatility of 4.43% compared to FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) at 2.06%. This indicates that YOKE'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

	YOKE	FMAY	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	2.06%	+2.37%
Volatility (6M) Calculated over the trailing 6-month period	11.29%	4.91%	+6.38%
Volatility (1Y) Calculated over the trailing 1-year period	13.31%	6.28%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.10%	10.61%	+6.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.10%	10.17%	+6.93%

YOKE vs. FMAY - Expense Ratio Comparison

YOKE has a 0.30% expense ratio, which is lower than FMAY's 0.85% expense ratio.

Dividends

YOKE vs. FMAY - Dividend Comparison

YOKE's dividend yield for the trailing twelve months is around 0.81%, 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%
YOKE Yoke Core ETF	0.81%	0.76%

Frequently Asked Questions

Can I hold both YOKE and FMAY in my portfolio?

YOKE and FMAY have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, YOKE or FMAY?

YOKE has higher volatility (4.43%) compared to FMAY (2.06%). In terms of maximum drawdown, YOKE dropped -14.35% vs FMAY's -13.60%.

Which ETF is better, YOKE or FMAY?

On 1-year performance, YOKE leads with 23.04% vs 13.31% for FMAY. On fees, YOKE is cheaper at 0.30% per year. On volatility, FMAY has been the lower-risk option at 2.06%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, YOKE or FMAY?

Over the 1-year period, YOKE has performed better with a 23.04% return vs 13.31%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, YOKE or FMAY?

YOKE is cheaper with a 0.30% expense ratio, compared with 0.85% for FMAY.

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

YOKE has the higher dividend yield at 0.81%, compared with 0.00% for FMAY.

What is the main difference between YOKE and FMAY?

They also come from different issuers: Yoke and First Trust. Their fees differ too: 0.30% for YOKE and 0.85% for FMAY.

Which has better risk-adjusted returns?

FMAY currently has the higher Sharpe Ratio (2.28 vs 1.84), 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.