Are DLMY and SPYM in the same category?

DLMY is a buffer ETF and SPYM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.

Which is cheaper, DLMY or SPYM?

SPYM is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Nov 4, 2026.

Across categories

DLMY vs SPYM: Differences, Returns & Fees

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DLMY and SPYM are measured over different days, and SPYM charges 0.02% to DLMY's 0.85%.

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Net assets on Nov 3, 2026: $12m for FT Vest U.S. Equity Dual Directional Buffer ETF - May and $181.7bn for State Street SPDR Portfolio S&P 500 ETF.

DLMY on its own →SPYM on its own →

At a glance

+3.6%

DLMY total return, since launch, May 18, 2026

+14.8%

SPYM total return, 1 year

0.85%

DLMY expense ratio

0.02%

SPYM expense ratio

Pair scorecard

SPYM costs 0.83 points a year less; SPYM is far larger, $181.7bn against $12m.

DLMY vs SPYM: Differences, Returns & Fees
Measure	DLMY	SPYM
Return
Measure	DLMY	SPYM
Total return, 1 year	not published	+14.8%
Drawdown
Measure	DLMY	SPYM
Index fall to the buffer	3.6%
Fund price fall to the buffer	4.5%
Benchmark
Measure	DLMY	SPYM
What it tracks	SPY	S&P 500 Index
The outcome period
Measure	DLMY	SPYM
Room to the cap	9.0%
Buffer left, in index points	10.0% of 10.0%
Days left in the period	198
Period ends	May 21, 2027
Cost and size
Measure	DLMY	SPYM
Expense ratio	0.85%	0.02%
Net assets, as of Nov 3, 2026	$12m	$181.7bn
Holdings
Measure	DLMY	SPYM
Holdings in common	not published
In the S&P 500, by weight		100%
Top ten holdings, share of the fund		37.3%

Method

Side by side

DLMY FT Vest U.S. Equity Dual Directional Buffer ETF - May SPYM State Street SPDR Portfolio S&P 500 ETF

Where it sits Buffer ETF Stock ETF

Issuer First Trust State Street

What it is Defined outcome, 10% on SPY Tracks the S&P 500

Total return, 1 year +3.6% (since launch, May 18, 2026) +14.8%

Its benchmark over the same days +3.8% (SPY) (since launch, May 18, 2026) +14.8% (IVV)

Gap to its benchmark −0.2 pts vs SPY (since launch, May 18, 2026) 0.0 pts vs IVV

Expense ratio 0.85% 0.02%

Holdings not read by ETFIQ 506

Net assets, as of Nov 3, 2026 $12m $181.7bn

Former ticker none SPLG

DLMY and SPYM on the fields both publish, as of Nov 4, 2026. Source: ETFIQ.

Alert

About each fund

DLMY

From its price on Nov 4, 2026, the fund can gain about 9.0% more before it reaches its cap. The fund's price can fall 4.5% from here before the buffer starts absorbing losses, by the issuer's number. In index terms, SPY can fall 3.6% from today's level to the point where the buffer begins. Protection left, in index points: 10.0% of the 10.0% buffer still sits below today's SPY level. 198 days remained on Nov 4, 2026. On May 21, 2027 the period ends and a new cap is set.

SPYM

SPYM tracks the S&P 500. Over the year to Nov 4, 2026 it returned +14.8% with distributions reinvested, against +14.8% for its benchmark, the S&P 500 Index. The prospectus expense ratio is 0.02% a year. By its holdings published by its issuer for Nov 3, 2026, 100% of the fund by weight is stocks the S&P 500 also holds, across 506 positions, with the top ten at 37.3%.

Questions people ask

Are DLMY and SPYM in the same category?: DLMY is a buffer ETF and SPYM is a stock ETF, so they do different jobs. The table compares what both publish: return, cost and holdings.
Which is cheaper, DLMY or SPYM?: SPYM is cheaper, by 0.83 percentage points a year. That is about $83 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

DLMY vs SPY DLMY vs IVV DLMY vs VOO HAUG vs SPYM PQV vs SPYM HMAY vs SPYM MAYC vs SPYM JULC vs SPYM

Where to next

State Street® SPDR® S&P 500® ETF Trust →DLMY on its own →SPYM on its own →Hold both: look the portfolio through →Rankings →SPYM dividend history →SPYM holdings →Standards and sources →

Sources and dates

DLMY filings on SEC EDGAR ↗

First Trust page for DLMY ↗

SPYM filings on SEC EDGAR ↗

SPYM prospectus with the expense ratio (SEC) ↗

State Street website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

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ETFIQ, DLMY against SPYM, data as of Nov 4, 2026. https://etfiq.com/compare/any/dlmy-vs-spym

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