FT Vest U.S. Equity Deep Buffer ETF - May
$48.49+0.01 (+0.03%)
- 0.85%
- $390M
- +10.1%
- 0M sh
- $48.51
- low $44.02high $48.54
The ETF.net DMAY Grade
C
Score 44 out of 100
- 14 of 19
Score 44 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 100Rank 8 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D34 out of 100Rank 18 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B59 out of 100Rank 9 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B67 out of 100Rank 3 of 12Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A73 out of 100Rank 5 of 19
Our read on DMAY
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.
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 Holdings
- Other
- 3
- 103%
- 2027-05-21 State Street® SPDR® S&P 500® ETF Trust C 7.38
Sectors
- Technology40.1%
- Financials11.3%
- Communication9.9%
- Health Care9.4%
- Consumer Discretionary8.7%
- Industrials7.6%
- Consumer Staples4.4%
- Energy3.4%
- Utilities1.9%
- Real Estate1.7%
- Materials1.6%
DMAY Performance
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$11,013
Returns run to the Oct 12, 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.
| Period | DMAY |
|---|---|
| Year to date | +7.2% |
| 1 month | +1.3% |
| 3 months | +2.3% |
| 1 year | +10.1% |
| 3 years | +12.3% |
| 5 years | +7.4% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | DMAY |
|---|---|---|
| 2026 YTD | +7.2% | |
| 2025 | +11.0% | |
| 2024 | +12.8% | |
| 2023 | +15.4% | |
| 2022 | −10.0% | |
| 2021 | +6.1% | |
| 2020 | +6.7% |
DMAY in the news
DMAY Dividends
No distributions in the last 12 months.
DMAY Risk
- 6.5%
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.
- 1.13
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.
- −13.9%
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.
- 0.46
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
DMAY Cost
0.85%
DMAY0.85%
- The middle half of S&P 500 Deep Buffer 25-30% funds
- Median 0.85%
7 of the 19 S&P 500 Deep Buffer 25-30% funds charge less.
Other funds in S&P 500 Deep Buffer 25-30%
- CDJUNFT Vest U.S. Equity Deep Buffer ETF - JuneExpense ratio 0.85%1 year return +9.8%
- CDSEPFT Vest U.S. Equity Deep Buffer ETF - SeptemberExpense ratio 0.85%1 year return +12.9%
- CDDECFT Vest U.S. Equity Deep Buffer ETF - DecemberExpense ratio 0.85%1 year return +13.0%
- CDOCTFT Vest U.S. Equity Deep Buffer ETF - OctoberExpense ratio 0.85%1 year return +12.2%
- CCTJLCorgi ETF Trust I - Corgi U.S. Equities 30% Structured Buffer ETF - July SeriesExpense ratio 0.30%1 year return —