FT Vest U.S. Equity Moderate Buffer ETF - May
$44.410.00 (+0.01%)
- 0.85%
- $448M
- +10.4%
- 0.1M sh
- $44.41
- low $40.22high $44.99
The ETF.net GMAY Grade
C
Score 42 out of 100
- 32 of 61
Score 42 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.F13 out of 100Rank 47 of 61Mission
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.D38 out of 100Rank 46 of 57Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A79 out of 100Rank 2 of 59Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B65 out of 100Rank 7 of 33Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.A74 out of 100Rank 17 of 61
Our read on GMAY
CFirst Trust runs a buffer fund for every month of the calendar, and GMAY holds the May slot: a 15% cushion on SPY's price return over a one-year outcome period, paid for with a cap on the upside set when the period begins.
The Fund seeks returns corresponding to the price return of the State Street® SPDR® S&P 500® ETF Trust, subject to an upside cap and protection against the first 15% of losses during the stated outcome period.
Why people hold it
- The deal is spelled out in the fund's own documents: protection against the first 15% of losses on SPY's price return, plus a stated cap, across a defined one-year outcome period.ftportfolios.com
- May is just one rung. GJAN through GDEC run the same 15% structure on a rolling monthly schedule, so start dates can be staggered instead of hostage to one entry point.
- The reference asset is the SPDR S&P 500 ETF Trust itself. Plain large-cap US equity price return, no custom index or factor tilt to decode.
- One of the easier funds in its buffer peer group to get in and out of, with a mid-sized asset base standing behind it.
Worth knowing
- At 0.85%, it sits above the 0.79% median for its buffer cohort. Downside protection is a purchased feature, and the sticker shows it.
- The cap works both ways: big SPY years get trimmed. And the 15% buffer is measured from the start of the outcome period to its end, not day by day in between.
- Not an income vehicle. The options package is built to shape the payoff, not to pay out along the way.
GMAY Holdings
- Other
- 3
- 103%
- 2027-05-21 State Street® SPDR® S&P 500® ETF Trust C 7.41
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%
GMAY 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.Not enough history yet.
GMAY$11,043
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 | GMAY |
|---|---|
| Year to date | +7.5% |
| 1 month | +1.3% |
| 3 months | +2.4% |
| 1 year | +10.4% |
| 3 years | +12.6% |
| 5 years | — |
| 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 | GMAY |
|---|---|---|
| 2026 YTD | +7.5% | |
| 2025 | +11.9% | |
| 2024 | +12.1% | |
| 2023 | +8.9% |
GMAY in the news
GMAY Dividends
No distributions in the last 12 months.
GMAY Risk
- 5.9%
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.
- 1.28
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.
- −11.7%
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.
- 0.41
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
GMAY Cost
0.85%
GMAY0.85%
- The middle half of S&P 500 Buffer 15% funds
- Median 0.79%
36 of the 51 S&P 500 Buffer 15% funds charge less.
Other funds in S&P 500 Buffer 15%
- CGDECFT Vest U.S. Equity Moderate Buffer ETF - DecemberExpense ratio 0.85%1 year return +12.8%
- CGJULFT Vest U.S. Equity Moderate Buffer ETF - JulyExpense ratio 0.85%1 year return +12.0%
- CGSEPFT Vest U.S. Equity Moderate Buffer ETF - SeptemberExpense ratio 0.85%1 year return +13.0%
- CJULUAIM ETF Products Trust - AllianzIM U.S. Equity Buffer15 Uncapped Jul ETFExpense ratio 0.74%1 year return +13.9%
- CGAUGFT Vest U.S. Equity Moderate Buffer ETF - AugustExpense ratio 0.85%1 year return +11.4%