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
- 327
- Avg. Expense Ratio
- 0.75%
- Avg. Dividend Yield
- 0.84%
- Avg. 1 Year Return
- 12.86%
- Median Risk/Return Score
- 85 / 100
The Best Defined Outcome ETFs
327 results
Best Defined Outcome ETFs by Risk/Return Score
The top Defined Outcome ETFs by PortfoliosLab Risk/Return Score are PMAP (99) and MMAX (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 | |
| iShares Large Cap Max Buffer Mar ETF | 98 | — | Mar 2025 | |
| Calamos S&P 500 Structured Alt Protection ETF - Ap... | 98 | 19.60M | Apr 2025 | |
| Innovator Equity Defined Protection ETF - 1 Yr Apr... | 98 | — | Apr 2025 | |
| Innovator U.S. Equity Power Buffer ETF - April | 98 | 948.87M | Apr 2019 |
Best-Performing Defined Outcome ETFs Over 5 Years
The top Defined Outcome ETFs is BMAR (11.92%).
Across the lineup, Defined Outcome ETFs show an average 1-year return of 12.86% and an average 5-year return of 8.40%, providing a clearer view of performance across different investment horizons.
| Symbol | Name | Return 5Y | AUM | Inception |
|---|---|---|---|---|
| Innovator U.S. Equity Buffer ETF - March | 11.92% | 247.34M | Feb 2020 | |
| FT Cboe Vest Nasdaq-100 Buffer ETF - March | 11.72% | 552.47M | Mar 2021 | |
| Innovator U.S. Equity Buffer ETF - July | 11.51% | 275.30M | Aug 2018 | |
| Innovator U.S. Equity Buffer ETF - August | 11.04% | 194.11M | Jul 2019 | |
| Innovator U.S. Equity Buffer ETF - April | 10.98% | 401.87M | Mar 2019 |
Lowest-Cost Defined Outcome ETFs
The top Defined Outcome ETFs is JULB (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 July Buffer ETF | 0.25% | — | Oct 2025 | |
| Aptus April Buffer ETF | 0.25% | — | Oct 2025 | |
| Aptus January Buffer ETF | 0.25% | — | Oct 2025 | |
| Aptus October 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 (90.45%).
Across the lineup, Defined Outcome ETFs show an average dividend yield of 0.84%, 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... | 90.45% | — | Aug 2025 | |
| FT Vest Gold Strategy Quarterly Buffer ETF | 45.50% | 49.18M | Jan 2021 | |
| Leverage Shares 2x Capped Accelerated PLTR Monthly... | 28.72% | — | Aug 2025 | |
| Leverage Shares 2x Capped Accelerated TSLA Monthly... | 21.75% | — | Aug 2025 | |
| Leverage Shares 2x Capped Accelerated NVDA Monthly... | 14.53% | — | Aug 2025 |
Top ETFs Categories
Leveraged Equities · 527 ETFsEurope Equities · 513 ETFsGlobal Equities · 453 ETFsDerivative Income · 438 ETFsLarge Cap Blend Equities · 438 ETFsTechnology Equities · 379 ETFsS&P 500 · 279 ETFsLarge Cap Growth Equities · 240 ETFsDividend · 214 ETFsEmerging Markets Equities · 211 ETFsForeign Large Cap Equities · 206 ETFsCorporate Bonds · 196 ETFsAsia Pacific Equities · 187 ETFsCryptocurrency · 178 ETFsGovernment Bonds · 174 ETFsLarge Cap Value Equities · 174 ETFsHigh Yield Bonds · 167 ETFsOptions Trading · 161 ETFsPrecious Metals · 161 ETFsMunicipal Bonds · 150 ETFsEnergy Equities · 144 ETFsHealth & Biotech Equities · 135 ETFsNasdaq-100 · 129 ETFsREIT · 129 ETFsDiversified Portfolio · 118 ETFsFinancials Equities · 115 ETFsChina Equities · 114 ETFsEuropean Government Bonds · 114 ETFsJapan Equities · 114 ETFsGold · 112 ETFs
Top ETFs Comparisons
Compare the top ETFs symbols based on PortfoliosLab usage data.
BALT vs. SPYBALT vs. BSCTBALT vs. XST.TOBALT vs. BSCSBALT vs. HLIPXBUFR vs. JHEQXBUFR vs. SFLRBUFR vs. FAPRBUFR vs. BUFQBUFR vs. FFEBBGLD vs. IGLDBGLD vs. GLDBGLD vs. GLDIBGLD vs. VOOBGLD vs. IAUMBUFF vs. BUFBBUFF vs. SPYBUFF vs. MNABUFF vs. MAFIXBUFF vs. VOOCPSM vs. XXXXCPSM vs. SPYCPSM vs. SPYICPSM vs. PHDGCPSM vs. VMFXXBUFD vs. BUFZBUFD vs. SPYBUFD vs. PHEQBUFD vs. BSCRBUFD vs. BUFBFOCT vs. VYMFOCT vs. FMARFOCT vs. HDMVFOCT vs. ACWVFOCT vs. SPTSPJAN vs. PJULPJAN vs. SPYPJAN vs. BJANPJAN vs. VOOPJAN vs. JEPIFBUF vs. FHEQFBUF vs. MAXJFBUF vs. VOOFBUF vs. SMAXFBUF vs. XCLRBAPR vs. VRTBAPR vs. SCHDBAPR vs. FFLCBAPR 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