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Launched · SEC filings

FT Vest U.S. Equity Deep Buffer ETF - May

DMAYCboeFirst TrustC

$47.63−0.14 (−0.29%)

As of Nov 2, 2026, 3:59 PM ET

C41/ 100

Rank 16 of 19 in S&P 500 Deep Buffer 25-30%

C41/100Rank 16 of 19inS&P 500 Deep Buffer 25-30%
Intraday session: down, 78 prints from 47.76 to 47.63. Range 47.63 to 48.06. Use the arrow keys to read each point.47.7047.9048.0010 AM12 PM2 PM4 PM
Expense ratio
0.85%
Fund size
$391M
1Y total return
+7.2%
Yield · Last 12 months
No data
Holdings
3
Avg volume · 30D
9.56K sh
52W range
low $44.02high $48.54
Launched
Filings
SEC EDGAR

The ETF.net DMAY Grade

Based on 5 of 6 pillars

C

Score 41 out of 100

Category
S&P 500 Deep Buffer 25-30%⁠
Rank
16 of 19
Six-pillar profile for DMAY. Scores out of 100: Cost 31, Risk 31, Mission not scored, Tradability 46, Holdings 67, Durability 72. Strongest: Durability (72). Weakest: Risk (31). Based on 5 of 6 pillars.

Score 41 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    D31 out of 100
    Rank 8 of 19

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    Not scored

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    D31 out of 100
    Rank 19 of 19

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    C46 out of 100
    Rank 13 of 19

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B67 out of 100
    Rank 3 of 12

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    A72 out of 100
    Rank 6 of 19

Our read on DMAY

ETF.net Research

In short

CA deep buffer with a May start date. DMAY absorbs a 25-percentage-point band of losses in the SPDR S&P 500 ETF Trust over each one-year outcome period, and in exchange you live under a cap that resets every May.

Stated mandate

The Fund seeks to track the price return of the State Street® SPDR® S&P 500® ETF Trust, subject to a 13.56% upside cap, while buffering specified losses over the current target-outcome period.

Why people hold it

  • Twenty-five percentage points of buffer against declines in the reference fund per outcome period. That is the deep end of the buffer menu, not the usual thin cushion.ftportfolios.com
  • The thing being buffered is the SPDR S&P 500 ETF Trust itself, price return. No custom index to decode.ftportfolios.com
  • One of twelve monthly vintages First Trust runs on the same deep-buffer recipe, DJAN through DDEC, every one at 0.85%. Start dates can be laddered without changing the fee math.
  • Running since 2020, so the structure has been through real market weather rather than a backtest.

Worth knowing

  • 0.85% sits right at the median for deep-buffer funds, but not the floor: the Pacer Swan SOS Conservative siblings (PSCX, PSCW, PSCQ) run 0.49%.
  • Price return only. Dividends paid inside the S&P 500 are not passed along, and income has not been part of the package here.
  • Trades lightly next to the biggest buffer funds, so execution deserves attention. Buy mid-period and you inherit whatever cap and buffer remain, not the reset-day terms.

DMAY Performance

Launched May 15, 2020

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.
DMAY$10,718
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,199
Oct 31, 2025 to Oct 30, 2026. DMAY $10,718. SPY $11,199. Use the arrow keys to read each point.$10,000$11,000Oct 2025Apr 2026Oct 2026

Oct 31, 2025 – Oct 30, 2026

Returns run to the Oct 30, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for DMAY. Periods over one year show the average yearly return.
PeriodDMAY
Year to date+5.6%
1 month−0.4%
3 months+1.1%
1 year+7.2%
3 yearsper year+12.6%
5 yearsper year+6.8%
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for DMAY
YearReturn barDMAY
2026 YTD+5.6%
2025+11.0%
2024+12.8%
2023+15.4%
2022−10.0%
2021+6.1%
2020+6.7%

History from May 19, 2020

DMAY in the news

DMAY Dividends

This fund pays no distributions.
No dataLast 12 months
Payout per share
No dataLast 12 months

No distributions in the last 12 months.

DMAY Risk

Risk pillarD31 out of 100Rank 19 of 19 in S&P 500 Deep Buffer 25-30%
How much the fund’s monthly returns vary, scaled to a year.
6.4%
Annualised · 36 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
1.19
vs 3-month T-bills · to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−13.9%
Trough Oct 2022
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.46
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

DMAY Cost

Compare DMAY and CTJL

Overpaying vs CTJL, tied cheapest in S&P 500 Deep Buffer 25-30%

$10,050

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • DMAY 0.85%

    $16,199

  • CTJL 0.30% Tied cheapest

    $6,149

$10,000
30 years

Cost over time

  • DMAY 0.85%
  • CTJL 0.30%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530DMAY $16,199CTJL $6,149

Year by year

YearDMAYCTJLOverpaying
10$1,508$545$963
20$5,706$2,113$3,593
30$16,199$6,149$10,050

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