DMAY vs SPY
FT Vest US Equity Deep Buffer ETF - May vs State Street SPDR S&P 500 ETF Trust
Which is better, DMAY or SPY?
Option Writing against Large Cap Blend.
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | DMAY | SPY |
|---|---|---|
| Expense Ratio | 0.85% | 0.09%Best |
| AUM | $378M | $804.7B |
| Dividend Yield | 0.00% | 0.98% |
| Holdings | 10 | 505 |
| YTD Return | +5.70% | +12.09%Best |
| 1Y Return | +8.36% | +16.29%Best |
| 3Y Return (annualized) | +11.59% | +21.20%Best |
| 5Y Return (annualized) | +7.26% | +13.37%Best |
| Volatility (annualized) | 7.2%Best | 15.4% |
| Max Drawdown | -13.9%Best | -24.5% |
| $10,000 over 5 years | $14,197 | $18,728Best |
| Fund Family | First Trust Portfolios (US) | State Street Investment Management |
| Category | Alternative | Equity |
| Style | Option Writing | Large Cap Blend |
| Inception | May 15, 2020 | Jan 22, 1993 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: May 18, 2020 to Sep 18, 2026 (6.3 years).
DMAY vs SPY growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 6.3 years both funds cover.
DMAY vs SPY Performance
FT Vest US Equity Deep Buffer ETF - May (DMAY) is an ETF from First Trust Portfolios (US) and State Street SPDR S&P 500 ETF Trust (SPY) is an ETF from State Street Investment Management. Over the past year DMAY returned +8.36% while SPY returned +16.29%. Year to date, DMAY is up 5.70% versus a gain of 12.09% for SPY.
Over three years, DMAY compounded at +11.59% per year against +21.20% for SPY; over five years the annualized figures are +7.26% and +13.37% respectively. Across the full 6-year window we track, SPY has the edge at +17.52% annualized vs +7.21%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.4% compared with 7.2% for DMAY. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -13.9% for DMAY and -24.5% for SPY. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.88. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
DMAY charges 0.85% per year while SPY charges 0.09%. On a $10,000 position that is $85 vs $9 annually, a gap of $76 per year that compounds over a long holding period. On income, DMAY currently yields 0.00% against 0.98% for SPY.
You are not choosing between two funds in isolation.
Whichever of DMAY and SPY you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, DMAY or SPY?
DMAY has an expense ratio of 0.85% while SPY charges 0.09%. SPY is the cheaper option, by $76 a year on a $10,000 investment.
Which performed better, DMAY or SPY?
Over the past year DMAY returned +8.36% vs +16.29% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (6 years), DMAY annualized +7.21% vs +17.52% for SPY. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, DMAY or SPY?
SPY has been the more volatile fund at 15.4% annualized versus 7.2% for DMAY. Worst drawdown: DMAY -13.9% vs SPY -24.5%.
Should I hold both DMAY and SPY?
DMAY and SPY have a monthly-return correlation of 0.88, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, DMAY or SPY?
DMAY yields 0.00% while SPY yields 0.98%, so SPY currently pays the higher dividend yield.
Is SPY better than DMAY?
SPY has a lower expense ratio. SPY led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.