Data as of Nov 4, 2026.
DLMY vs XMAY: Cap, Buffer & Days Left
As of Nov 4, 2026 XMAY can fall 4.6% before its buffer engages and DLMY 4.5%.
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Net assets on Nov 3, 2026: $12m for FT Vest U.S. Equity Dual Directional Buffer ETF - May and $19m for FT Vest U.S. Equity Enhance & Moderate Buffer ETF - May.
DLMY: reference +3.7% since period start, fund +3.9%; buffer 0 to −10; cap +14.1%; Between buffer and cap. Data to Nov 4, 2026.
DLMY: reference +3.7% since period start, fund +3.9%; buffer 0 to −10; cap +14.1%; Between buffer and cap. Data to Nov 4, 2026.XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.
XMAY: reference +3.7% since period start, fund +3.9%; buffer 0 to −15; cap +11.0%; Between buffer and cap. Data to Nov 4, 2026.Pair scorecard
Both cost 0.85% a year; XMAY is 1.6 times larger.
Points (pts) are percentage points.
| Measure | DLMY | XMAY |
|---|---|---|
| Return | ||
| Total return, 1 year | not published | +8.0% |
| Drawdown | ||
| Index fall to the buffer | 3.6% | |
| Benchmark | ||
| What it tracks | SPY | SPY |
| Cost and size | ||
| Expense ratio | 0.85% | 0.85% |
| Net assets, as of Nov 3, 2026 | $12m | $19m |
| Holdings | ||
| Holdings in common | not published | |
Window by window
| Total return | Gap to the reference's price return | |||
|---|---|---|---|---|
| Window | DLMY | XMAY | DLMY | XMAY |
| 3 months | +0.8% | +1.3% | +1.2 pts | +1.7 pts |
| 6 months | – | +3.9% | – | −0.6 pts |
| 1 year | – | +8.0% | – | −5.5 pts |
| Since launchNot the same days: DLMY May 2026 · XMAY May 2024 | +3.6% | +25.1% | −0.2 pts | −19.6 pts |
Each fund's gap is to its reference's price return, dividends left out: the basis the outcome period uses. – means no data for this window. Open this comparison in the app →
Side by side
As of Nov 4, 2026. Source: ETFIQ.
These are two different products. XMAY is a floor fund, which caps how far a holder can fall. DLMY is a buffer fund, which absorbs the first part of a fall and leaves everything below it with the holder.
Both are First Trust funds, so the difference between them is the terms rather than the house.
Where each one stands today
DLMY resets first, on May 21, 2027, 198 days from now; XMAY runs to May 21, 2027, 198 days. DLMY can still gain 9.0% before its cap, XMAY 6.1%. A fall from here reaches DLMY’s buffer after 4.5% and XMAY’s after 4.6%. Both track SPY, so what separates them is where each is in its own period.
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.
XMAY
From its price on Nov 4, 2026, the fund can gain about 6.1% more before it reaches its cap. The fund's price can fall 4.6% from here before the buffer starts absorbing losses, by the issuer's number. Protection left, in index points: 15.0% of the 15.0% buffer still sits below today's SPY level.
Questions people ask
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How this is computed
ETFIQ calculates every number from each issuer’s published outcome-period terms. Buffer ETFs hold options on an index, not shares, so there is no holdings overlap to report.
Every number is an ETFIQ calculation with distributions reinvested.
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ETFIQ, DLMY against XMAY, data as of Nov 4, 2026. https://etfiq.com/compare/buffer/dlmy-vs-xmay
ETFIQ. (Nov 4, 2026). DLMY against XMAY. Retrieved from https://etfiq.com/compare/buffer/dlmy-vs-xmay
[DLMY against XMAY (ETFIQ, Nov 4, 2026)](https://etfiq.com/compare/buffer/dlmy-vs-xmay)
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