DMAY ETF — FT Vest U.S. Equity Deep Buffer ETF - May

FT Vest U.S. Equity Deep Buffer ETF - May (DMAY)

Updated October 16, 2026.

DMAY is an ETF. its expense ratio is 0.85%. Total return is 56.1% over the past 6.4 years, 126.8 points behind SPY at 182.9%.

FT Vest U.S. Equity Deep Buffer ETF - May is an ETF that invests substantially all its assets in customized exchange-traded options (FLEX Options) referencing the SPDR S&P 500 ETF Trust, designed to provide downside protection on U.S. equity exposure. The fund does not currently distribute income, carries an expense ratio of 0.85%, and is non-diversified. It appeals to equity investors seeking structured downside buffering rather than traditional dividend income.

DMAY performance versus SPY

Price and return data through 2026-10-16.

Total return is 56.1% over the past 6.4 years, 126.8 points behind SPY at 182.9%. Over the past year its total return — price change plus distributions reinvested — is 8.8%. Its deepest 1-year drawdown was 3.4%.

DMAY key facts

Issuer

First Trust

Asset type

ETF

Asset class

Equity

Inception date

05/15/2020

Expense ratio

0.85%

Distribution frequency

None

Last close

$48.06 (as of 2026-10-16)

AUM

$381,485,399

Average volume

7414.0

Beta

0.46

How Dividend Vision calculates yield and returns

Distribution rate (the posted rate) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: First Trust or company page; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

DMAY risks and drawbacks

Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 3.4%.

Who may consider DMAY — and who may not

It is a weaker fit for investors who need monthly cash flow (DMAY does not currently distribute); investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

More on DMAY

• All tickers starting with D

Tagged: Downside Protection, Options, Target.

Frequently asked questions

More securities from First Trust.