The Best Defined Outcome ETFs
The table below compares the performance and other essential indicators like dividend yield and expense ratio of Defined Outcome ETFs.
Defined Outcome ETFs, also known as buffer or target-outcome funds, use options strategies to shape a predetermined range of returns over a set period — typically providing downside protection (a "buffer") in exchange for a capped upside. They let investors participate in an index's gains up to a limit while reducing exposure to a portion of its losses, with the outcomes defined at the start of each outcome period.
- Number of ETFs
- 342
- Avg. Expense Ratio
- 0.75%
- Avg. Dividend Yield
- 0.80%
- Avg. 1 Year Return
- 10.70%
- Median Risk/Return Score
- 86 / 100
The Best Defined Outcome ETFs
342 results
Best Defined Outcome ETFs by Risk/Return Score
The top Defined Outcome ETFs by PortfoliosLab Risk/Return Score are PMAP (99) and CPSP (98).
The score measures risk-adjusted performance over the past year, accounting for volatility, drawdown, and return consistency.
| Symbol | Name | Risk / Return Rank | AUM | Inception |
|---|---|---|---|---|
| PGIM S&P 500 Max Buffer ETF - April | 99 | — | Mar 2025 | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 21.00M | Apr 2025 | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | |
| FT Vest U.S. Equity Max Buffer ETF - March | 98 | 107.69M | Mar 2024 |
Best-Performing Defined Outcome ETFs Over 5 Years
The top Defined Outcome ETFs is BMAR (11.83%).
Across the lineup, Defined Outcome ETFs show an average 1-year return of 10.70% and an average 5-year return of 8.39%, providing a clearer view of performance across different investment horizons.
| Symbol | Name | Return 5Y | AUM | Inception |
|---|---|---|---|---|
| Innovator U.S. Equity Buffer ETF - March | 11.83% | 248.68M | Feb 2020 | |
| Pacer Swan SOS Flex (December) ETF | 11.54% | 59.07M | Dec 2020 | |
| Innovator U.S. Equity Buffer ETF - July | 11.39% | 342.58M | Aug 2018 | |
| Innovator U.S. Equity Buffer ETF - August | 11.37% | 198.16M | Jul 2019 | |
| Pacer Swan SOS Flex (July) ETF | 11.28% | 45.04M | Jun 2021 |
Lowest-Cost Defined Outcome ETFs
The top Defined Outcome ETFs is OCTB (0.25%).
With an average expense ratio of 0.75%, Defined Outcome ETFs remain a low-cost option for investors seeking broad market exposure, sector allocations, and diversified portfolio building blocks.
| Symbol | Name | Expense Ratio | AUM | Inception |
|---|---|---|---|---|
| Aptus October Buffer ETF | 0.25% | — | Oct 2025 | |
| Aptus July Buffer ETF | 0.25% | — | Oct 2025 | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | |
| Fidelity Dynamic Buffered Equity ETF | 0.48% | — | Apr 2024 |
Highest-Yield Defined Outcome ETFs
The top Defined Outcome ETFs is COIO (85.68%).
Across the lineup, Defined Outcome ETFs show an average dividend yield of 0.80%, offering investors a steady stream of income through regular dividend payments, making them attractive for income-seeking portfolios.
| Symbol | Name | Dividend Yield | AUM | Inception |
|---|---|---|---|---|
| Leverage Shares 2x Capped Accelerated COIN Monthly... | 85.68% | — | Aug 2025 | |
| FT Vest Gold Strategy Quarterly Buffer ETF | 46.17% | 50.83M | Jan 2021 | |
| Leverage Shares 2x Capped Accelerated PLTR Monthly... | 27.57% | — | Aug 2025 | |
| Leverage Shares 2x Capped Accelerated TSLA Monthly... | 21.79% | — | Aug 2025 | |
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 14.32% | — | Aug 2025 |
Top ETFs Categories
Europe Equities · 591 ETFsGlobal Equities · 586 ETFsLeveraged Equities · 563 ETFsDerivative Income · 519 ETFsAsia Pacific Equities · 449 ETFsLarge Cap Blend Equities · 449 ETFsTechnology Equities · 421 ETFsEmerging Markets Equities · 341 ETFsDividend · 313 ETFsS&P 500 · 308 ETFsCorporate Bonds · 301 ETFsGovernment Bonds · 259 ETFsForeign Large Cap Equities · 250 ETFsLarge Cap Growth Equities · 250 ETFsEnergy Equities · 211 ETFsESG · 207 ETFsHigh Yield Bonds · 206 ETFsLarge Cap Value Equities · 205 ETFsOptions Trading · 203 ETFsCryptocurrency · 202 ETFsActively Managed · 201 ETFsQuality Factor · 180 ETFsPrecious Metals · 165 ETFsHealth & Biotech Equities · 154 ETFsMunicipal Bonds · 150 ETFsREIT · 148 ETFsJapan Equities · 144 ETFsFinancials Equities · 138 ETFsEuropean Government Bonds · 137 ETFsEmerging Markets Bonds · 136 ETFs
Top ETFs Comparisons
Compare the top ETFs symbols based on PortfoliosLab usage data.
BALT vs. SPYBALT vs. BSCTBALT vs. ZALTBALT vs. RSPNBALT vs. HLIPXBUFR vs. JHEQXBUFR vs. SFLRBUFR vs. FAPRBUFR vs. BUFQBUFR vs. FFEBBGLD vs. IGLDBGLD vs. GLDBGLD vs. GLDIBGLD vs. VOOBGLD vs. FTRIBUFF vs. BUFBBUFF vs. SPYBUFF vs. MNABUFF vs. MAFIXBUFF vs. VOOCPSM vs. XXXXCPSM vs. SPYCPSM vs. PHDGCPSM vs. SPYICPSM vs. VMFXXBUFD vs. BUFZBUFD vs. SPYBUFD vs. PHEQBUFD vs. BSCRBUFD vs. BUFBFOCT vs. VYMFOCT vs. FMARFOCT vs. HDMVFOCT vs. SPXCFOCT vs. SPTSFBUF vs. FHEQFBUF vs. MAXJFBUF vs. SMAXFBUF vs. VOOFBUF vs. XCLRPJAN vs. PJULPJAN vs. SPYPJAN vs. BJANPJAN vs. VOOPJAN vs. JEPIBAPR vs. VRTBAPR vs. FFLCBAPR vs. SCHDBAPR vs. SPYBAPR vs. USMV
Risk vs. Return Scatterplot
The Risk vs. Return Scatterplot allows you to quickly compare funds, stocks, and ETFs in one view. It displays the yearly return of an instrument on one axis and the risk (volatility) on the other.
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5 Years