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SMAY
+1.20 · +4.79%
$26.30 · BATS

FT Cboe Vest U.S. Small Cap Moderate Buffer ETF - May (SMAY) ETF Analysis | Defined Outcome

First Trust · USA
AUM:$85.2M
#– of – in Defined Outcome ETFs

Educational tool only – Figures are based on historical data, holdings and expense metrics for informational purposes. This is not financial advice or a recommendation to buy or sell any security. Always conduct your own research or consult a qualified financial adviser.

Market Performance

Up 8.2% over the past year, showing positive momentum.

Cost Efficiency

Ongoing charge of 0.90% — above average for this category.

What is SMAY?

Under normal market conditions, the fund will invest substantially all of its assets in FLexible EXchange® Options ("FLEX Options") that reference the price performance of the iShares Russell 2000 ETF (the "Underlying ETF").

Performance Highlights

Returns (%)
Top Sectors (%)

Investment Breakdown

Positive 1-Year Return
SMAY returned 8.2% over the past year. Historical returns only — past performance is not indicative of future results.
Higher Cost Profile
Expense ratio of 0.90% is above average. Verify whether the strategy justifies the cost.
ETF Information
AUM$85.2M
Expense Ratio0.90%
Dividend Yield0.00%
Holdings1
Inception DateMay 2023
Domicile–
Distribution–
Index–
ProviderFirst Trust
Beta–
CategoryDefined Outcome
CurrencyUSD
Portfolio Impact

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6168
+7 points · better diversified

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Uses ISF.L (iShares FTSE 100 ETF)
Indicators

Performance Metrics

Historical returns

6M
+7.5%
1Y
+13.8%
3Y
+35.7%
5Y
+40.9%
OpenBook InsightIf you had invested £10,000 in SMAY 5 years ago, it would have grown to £14,092 — a gain of £4,092.

Annual Returns

Calendar year performance

SMAY delivered positive returns in 4 of the last 4 calendar years.
YearSMAY
2026 YTD+9.4%
2025+4.7%
2024+12.9%
2023+8.9%
CAGR 3yr+8.8%
4/4 positive yearsAvg return: +9.0%Worst year: +4.7% (2025)

Technical Analysis Summary

Automated insights from historical price action and indicators

Technical Regime: MIXED
Trend Strength
67%
Positive
Volatility
7.3%
Low
Momentum
+1.2%
30-day change
Support Level
28.34
Key floor
Key Insights
  • Price is consolidating, with low momentum over the recent period.
  • Low volatility environment with a narrower recent trading range.
  • Monitor key support and resistance levels as part of broader risk assessment.
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