Skip to content
etf.net

FMAY vs TENJ

FT Vest U.S. Equity Buffer ETF - May

FMAYCCboe

iShares Large Cap 10% Target Buffer Jun ETF

TENJBCboe

Overlap

Expense ratio

TENJ −0.32pt a year

FMAY0.85%TENJ0.53%

Avg volume · 30D

FMAY 1.1×the volume

FMAY25.8KTENJ24.6K

FMAY vs TENJ Performance

Oct 31, 2025 – Oct 30, 2026

+8.5%FMAY+11.7%TENJ

Oct 31, 2025 to Oct 30, 2026. FMAY +8.5%. TENJ +11.7%. Use the arrow keys to read each point.0%5%15%Oct 2025Apr 2026Oct 2026
Expense ratio
FMAY 0.85%
TENJ 0.53%, better
Fund size
FMAY $1.47B
TENJ $47M
1Y total return
FMAY +8.5%
TENJ +11.7%, better
Holdings
FMAY 3
TENJ 4
Avg volume (30D)
FMAY 25.8K sh, better
TENJ 24.6K sh
NAV per share
FMAY $57.09
TENJ $28.09
52W range

ETF.net Grade

FMAY: Cost 11, Risk 53, Mission not scored, Tradability 84, Holdings 64, Durability 86. TENJ: Cost 86, Risk 49, Mission not scored, Tradability 66, Holdings 51, Durability 41.
Pillar letters and Scores for FMAY, TENJ, with each pillar’s weight
PillarFMAYTENJ
Cost30% weightF11A86Higher
Mission25% weightNot scoredNot scored
Risk15% weightC53HigherC49
Tradability15% weightA84HigherB66
Holdings10% weightB64HigherC51
Durability5% weightA86HigherC41

Rank among S&P 500 Buffer 9-12% funds

How we build Categories ›
Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

Same Category. FMAY and TENJ are both graded against the same 77 S&P 500 Buffer 9-12% funds, so their Grades compare head to head.

S&P 500 Buffer 9-12%⁠

Category · 77 funds
See all 77 ›

TENJ ranks 3rd and FMAY 44th of 77 funds in the S&P 500 Buffer 9-12% Category.

  1. Rank 1AZALTInnovator U.S. Equity 10 Buffer ETF - QuarterlyScore 77
  2. Rank 2BAUGPPGIM S&P 500 Buffer 12 ETF - AugustScore 67
  3. Rank 3BTENJiShares Large Cap 10% Target Buffer Jun ETFScore 66
  4. Rank 4BSIXJAllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETFScore 65
  5. Rank 44CFMARFT Vest U.S. Equity Buffer ETF - MarchScore 46
  6. Rank 44CFMAYFT Vest U.S. Equity Buffer ETF - MayScore 46
  7. Rank 49CDHDGFT Vest U.S. Equity Quarterly 2.5 to 15 Buffer ETFScore 45

Our read on each fund

ETF.net Research

FMAYCFT Vest U.S. Equity Buffer ETF - May

TENJBiShares Large Cap 10% Target Buffer Jun ETF

In short

FMAY First Trust's May rung on a twelve-month buffer ladder: it absorbs the first 10% of the SPDR S&P 500 ETF Trust's price losses over a one-year stretch, trades that cushion for an upside cap, then resets every May.

TENJ No data

Stated mandate

FMAY The Fund seeks pre-fee, pre-expense returns linked to the price return of the State Street SPDR S&P 500 ETF Trust, subject to a 17.09% upside cap and protection against the first 10% of losses during the current May outcome period.

TENJ No data

Why people hold it

  • FMAY Mechanically simple: across each one-year period it seeks to absorb the first 10% of the reference ETF's price decline, in exchange for an upside cap set at the May reset.ftportfolios.com
  • Twelve monthly siblings (FJAN through FDEC) run the same 10% buffer on the same reference ETF, so entries can be laddered or rolled into a fresh period in any month.ftportfolios.com
  • Built from exchange-listed FLEX options inside an ETF wrapper: daily liquidity, no surrender schedule, no minimum holding term.sec.govftportfolios.com
  • Seasoned by buffer-fund standards: running since 2020 and carrying over a billion dollars, which puts it among the larger, longer-lived funds in this niche.

TENJ No data

Worth knowing

  • FMAY At 0.85% a year it costs more than the typical fund in its buffer peer group, and laddered alternatives such as BUFB charge a fraction of that.
  • It follows price return only, so the reference ETF's dividends are left out, and the stated cap and buffer are quoted before fees and expenses.sec.gov
  • Cap and buffer are designed for holders across the full outcome period; buy mid-period and your own numbers differ. Each May's new cap depends on market rates at the reset.ftportfolios.comsec.gov

TENJ No data

Full FMAY profile⁠

Full TENJ profile⁠

FMAY vs TENJ Holdings

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

FMAY vs TENJ Cost

Overpaying FMAY vs TENJ

$5,663

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

  • FMAY 0.85%

    $16,199

  • TENJ 0.53%

    $10,536

$10,000
30 years

Cost over time

  • FMAY 0.85%
  • TENJ 0.53%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$5K$10K$15K$20K051015202530FMAY $16,199TENJ $10,536

Year by year

YearFMAYTENJOverpaying
10$1,508$953$555
20$5,706$3,658$2,048
30$16,199$10,536$5,663

Expense ratio

  • 0.85%FMAY
  • 0.53%TENJ, cheaper
  • Middle half of S&P 500 Buffer 9-12% funds
  • Median 0.79%

TENJ 11th cheapest of 77 funds

FMAY 60th cheapest of 77 funds

FMAY vs TENJ Dividends

Last 12 months to Oct 30, 2026
Payout (12M)
FMAY None
TENJ No data
Last payment
FMAY No data
TENJ $0.07
Ex-dividend
FMAY No data
TENJ Dec 23, 2025
Paid on
FMAY No data
TENJ Dec 29, 2025
Frequency
FMAY No data
TENJ Irregular

Distribution history

Per share, 2025 to 2026, same scale for both

FMAYAll FMAY payments⁠

No distribution history available.

TENJIrregular · 1 paymentAll TENJ payments⁠
One bar per payment. 1 payment from 2025 to 2026 YTD. Dec 23, 2025 $0.07. Use the arrow keys to read each point.$0$0.052026YTD

FMAY vs TENJ Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years
FMAY 7.1%TENJ 8.6%since Nov 2025
Return per unit of riskSharpe ratio, 3 years
FMAY 1.37TENJ 0.90since Nov 2025
Worst fallMax drawdown, 5 years
FMAY −13.6%TENJ −5.5%since Oct 2025
Market sensitivityBeta, 5 years
FMAY 0.58TENJ 0.63

Popular comparisons

  • FMAYCvsZALTA

    FT Vest U.S. Equity Buffer ETF - May · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.85% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TENJBvsZALTA

    iShares Large Cap 10% Target Buffer Jun ETF · Innovator U.S. Equity 10 Buffer ETF - Quarterly

    Expense ratio
    0.53% · 0.69%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FMAYCvsAUGPB

    FT Vest U.S. Equity Buffer ETF - May · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.85% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TENJBvsAUGPB

    iShares Large Cap 10% Target Buffer Jun ETF · PGIM S&P 500 Buffer 12 ETF - August

    Expense ratio
    0.53% · 0.50%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • FMAYCvsSIXJB

    FT Vest U.S. Equity Buffer ETF - May · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.85% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.

  • TENJBvsSIXJB

    iShares Large Cap 10% Target Buffer Jun ETF · AllianzIM U.S. Equity 6 Month Buffer10 Jan/Jul ETF

    Expense ratio
    0.53% · 0.74%
    Category
    Same Category. Both funds are graded against the same funds, so their Grades compare head to head.