DMAY
FT Vest U.S. Equity Deep Buffer ETF - May
DMAY aims for specific buffered losses and capped gains on the SPY over a specific holdings period. The actively-managed fund holds options and collateral.
Risk Management
DERIVATIVES
Active
MANAGEMENT STYLE
331.3 M
ASSETS UNDER MGMT
85 bp
EXPENSES
Fund Basics
| Fund sponsor | First Trust |
| Category | Risk Management |
| Asset class | Derivatives |
| Website | link... |
| Inception date | May 15, 2020 |
| Assets (mns) | $327 |
| Expense ratio | 85 bp |
Fund Structure
| Regulation | Open-Ended Fund |
| Distributions | Annually |
| Taxation | 1099 |
| Derivatives-based | Yes |
| Options available | No |
| Currency hedged | No |
| Fund of funds | No |
Asset Allocation
Historical Performance
Standardized Performance (as of 04/30/2025)
| YTD | 1 YR | 2 YR | 3 YR | 5 YR | 10 YR | 20 YR | Incep. | |
|---|---|---|---|---|---|---|---|---|
| Price Returns | -3.7% | 4.9% | 8.9% | 5.9% | -- | -- | -- | 5.0% |
| Dividend Yield | 0.0% | 0.0% | 0.0% | 0.0% | -- | -- | -- | 0.0% |
| Total Returns | -3.7% | 4.9% | 8.9% | 5.9% | -- | -- | -- | 5.0% | Ann. Volatility | 18.9% | 12.3% | 9.5% | 10.4% | -- | -- | -- | 8.9% |
Market Correlations
| versus... | Beta | R-squared |
| S&P 500 | 0.49 | 88% |
| MSCI EAFE | 0.37 | 54% |
| MSCI Emg Mkts | 0.30 | 35% |
Liquidity Measures
| Avg. volume (000) | 15 |
| Turnover | 0.0% |
| Avg. Bid/Ask (% of price) | 0.18% |
| ADV of underlying (mns) | $0 |
Technical Indicators
| Recent close | $39.47 |
| 30d moving avg. | $38.80 |
| Annualized volatility | 8.6% |
| Relative strength (RSI) | 49 |
| Short interest (ETF) | 0.5% |
| Short interest (underlying) | 0.0% |
Distributions
Assets Under Management (mns)
Money Flows (mns)
Short Interest (as % of shares outstanding)
Long Money Flows (mns)
Expense Analysis
| Peer Group | Active Risk Management Derivatives ETFs |
| # of ETFs | 109 |
| Avg. Expense Ratio | 85.0 bp |
| Std. Deviation | 17 bp |
| DMAY (85 bp) Percentile rank | 42 |
Peer Group Expense Ratio Distribution
Total Cost of Ownership (TCO) Comparison
| Expense (bp) (A) |
Avg. Bid/Ask (bp) (B) |
TCO (bp) (A)+(B) |
|
|---|---|---|---|
| DMAY | 85.0 | 17.8 | 102.8 |
| Peer Avg. | 90.6 | 32.1 | 122.8 |
For a detailed cost analysis of this and any other ETF use the TCO Comparison Tool .