FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) Performance
FMAY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +7.1% since Dec 31, 2025
- 1 year
- +9.2% total return
- 5 years
- +8.9% a year
- Since first price
- +10.0% a year since 2020
FMAY trailing returns vs SPY, QQQ, AGG
| Period | FMAY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.4% | −0.4% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.6% | +2.6% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.9% | +3.9% | +7.8% | +8.4% | −1.5% |
| YTD | +7.1% | +7.1% | +12.3% | +15.1% | −1.0% |
| 1 year | +9.2% | +9.2% | +14.4% | +15.9% | −1.1% |
| 3 years | +51.2%+14.8%/yr | +51.2% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +52.8%+8.9%/yr | +52.8% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionMay 18, 2020 | +84.2%+10.0%/yr | +84.2% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: FMAY vs SPY
From May 18, 2020: FMAY grew to $18,425, SPY to $28,167.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
FMAY returns by calendar year
4 of 5 full years positive. Best 2023 (+17.8%), worst 2022 (−8.1%). 2026 is year to date.
FMAY annual returns table
| Year | FMAY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +7.1% | −4.2% | +12.3% | +15.1% | −1.0% |
| 2025 | +12.7% | −13.1% | +17.7% | +20.8% | +7.2% |
| 2024 | +14.5% | −5.2% | +24.9% | +25.6% | +1.3% |
| 2023 | +17.8% | −6.1% | +26.2% | +54.9% | +5.7% |
| 2022 | −8.1% | −13.6% | −18.2% | −32.6% | −13.0% |
| 2021 | +11.0% | −2.7% | +28.7% | +27.4% | −1.8% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
FMAY largest drawdowns
Now 1.6% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Mar 29, 2022 | −13.6% | Oct 12, 2022 | Jun 13, 2023 | 6 months | 1.2 years |
| Feb 19, 2025 | −13.1% | Apr 8, 2025 | Jun 4, 2025 | 48 days | 3 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
FMAY risk statistics
| Statistic | 3 years | 5 years | Since 2020 |
|---|---|---|---|
| Annualized return | +14.4% | +9.6% | +9.9% |
| Volatility (annualized) | 7.2% | 9.9% | 9.1% |
| Sharpe ratio | 1.32 | 0.62 | 0.78 |
| Sortino ratio | 2.82 | 0.96 | 1.24 |
| Best month | +6.5% | +6.5% | +6.5% |
| Worst month | −4.0% | −6.8% | −6.8% |
| Best 12 months | +22.7% | +22.7% | +22.7% |
| Worst 12 months | +5.5% | −8.6% | −8.6% |
| Positive months | 75% | 67% | 68% |
| Beta vs S&P 500 | 0.52 | 0.60 | — |
| Correlation with S&P 500 | 0.91 | 0.96 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
FMAY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 66 | −8.6% | +11.6% | +22.7% | 85% |
| 3-year (a year) | 42 | +4.9% | +8.6% | +16.3% | 100% |
| 5-year (a year) | 18 | +8.4% | +9.2% | +9.9% | 100% |
Every holding period starting at a month-end since 2020. Returns for 3 years and longer are annualized.
FMAY performance overview
FT Cboe Vest U.S. Equity Buffer ETF - May (FMAY) returned +9.2% over the past year and +8.9% a year over five years, with distributions reinvested. Since its first recorded price in 2020 it has returned +10.0% a year, turning $10,000 into about $18,425. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −13.6%, from Mar 29, 2022 to Oct 12, 2022, and it took 8 months to get back to the old high. FMAY finished 4 of its 5 full calendar years with a gain; the best year was 2023 (+17.8%) and the worst 2022 (−8.1%). Volatility has been 9.1% a year.
Related: FMAY chart. See the FMAY overview for the latest quote and fund facts.
FMAY performance FAQ
What is the FMAY return over the past year?
FMAY returned +9.2% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.2%.
What is the average annual return of FMAY?
FMAY has returned +8.9% a year over 5 years, +10.0% a year since May 18, 2020 (total return, distributions reinvested).
How much would $10,000 invested in FMAY be worth?
$10,000 invested in FMAY at its first recorded close on May 18, 2020 would be worth about $18,425 on October 23, 2026 with distributions reinvested.
What was the worst year for FMAY?
The worst calendar year was 2022, with a total return of −8.1%. The best was 2023 at +17.8%.
What is the biggest drawdown of FMAY?
The largest peak-to-trough decline was −13.6% between March 29, 2022 and October 12, 2022. It recovered to the old high on June 13, 2023, 8 months after the bottom.
How volatile is FMAY?
Over the past 3 years FMAY had an annualized volatility of 7.2% and a Sharpe ratio of 1.32 (excess return over 1–3 month T-bills per unit of risk).