FT Cboe Vest U.S. Equity Moderate Buffer ETF… (GMAY) Performance
GMAY total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +6.4% since Dec 31, 2025
- 1 year
- +8.1% total return
- 3 years
- +12.8% a year
- Since first price
- +11.5% a year since 2023
GMAY trailing returns vs SPY, QQQ, AGG
| Period | GMAY total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +0.3% | +0.3% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.5% | +2.5% | +3.2% | +1.9% | −0.4% |
| 6 months | +3.7% | +3.7% | +7.8% | +8.4% | −1.5% |
| YTD | +6.4% | +6.4% | +12.3% | +15.1% | −1.0% |
| 1 year | +8.1% | +8.1% | +14.4% | +15.9% | −1.1% |
| 3 years | +43.4%+12.8%/yr | +43.4% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| Since inceptionMay 22, 2023 | +45.3%+11.5%/yr | +45.3% | — | — | — |
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: GMAY vs SPY
From May 22, 2023: GMAY grew to $14,533, SPY to $18,953.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
GMAY returns by calendar year
2 of 2 full years positive. Best 2024 (+12.1%), worst 2025 (+11.9%). 2026 is year to date.
GMAY annual returns table
| Year | GMAY | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +6.4% | −3.1% | +12.3% | +15.1% | −1.0% |
| 2025 | +11.9% | −11.7% | +17.7% | +20.8% | +7.2% |
| 2024 | +12.1% | −3.9% | +24.9% | +25.6% | +1.3% |
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.
GMAY largest drawdowns
Now 1.1% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 14, 2025 | −11.7% | Apr 7, 2025 | May 13, 2025 | 52 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.
GMAY risk statistics
| Statistic | 3 years | Since 2023 |
|---|---|---|
| Annualized return | +12.5% | +11.9% |
| Volatility (annualized) | 5.9% | 6.0% |
| Sharpe ratio | 1.31 | 1.17 |
| Sortino ratio | 2.96 | 2.47 |
| Best month | +6.0% | +6.0% |
| Worst month | −3.1% | −3.1% |
| Best 12 months | +18.4% | +18.4% |
| Worst 12 months | +5.3% | +5.3% |
| Positive months | 78% | 75% |
| Beta vs S&P 500 | 0.41 | — |
| Correlation with S&P 500 | 0.86 | — |
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.
GMAY rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 30 | +5.3% | +11.8% | +18.4% | 100% |
| 3-year (a year) | 6 | +11.0% | +12.1% | +12.9% | 100% |
Every holding period starting at a month-end since 2023. Returns for 3 years and longer are annualized.
GMAY performance overview
FT Cboe Vest U.S. Equity Moderate Buffer ETF… (GMAY) returned +8.1% over the past year, with distributions reinvested. Since its first recorded price in 2023 it has returned +11.5% a year, turning $10,000 into about $14,533. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −11.7%, from Feb 14, 2025 to Apr 7, 2025, and it took 36 days to get back to the old high. Volatility has been 6.0% a year.
Related: GMAY chart. See the GMAY overview for the latest quote and fund facts.
GMAY performance FAQ
What is the GMAY return over the past year?
GMAY returned +8.1% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 8.1%.
How much would $10,000 invested in GMAY be worth?
$10,000 invested in GMAY at its first recorded close on May 22, 2023 would be worth about $14,533 on October 23, 2026 with distributions reinvested.
What was the worst year for GMAY?
The worst calendar year was 2025, with a total return of +11.9%. The best was 2024 at +12.1%.
What is the biggest drawdown of GMAY?
The largest peak-to-trough decline was −11.7% between February 14, 2025 and April 7, 2025. It recovered to the old high on May 13, 2025, 36 days after the bottom.
How volatile is GMAY?
Over the past 3 years GMAY had an annualized volatility of 5.9% and a Sharpe ratio of 1.31 (excess return over 1–3 month T-bills per unit of risk).