BFEB vs. BUFR

Last updated Jun 24, 2026

BFEB (Innovator S&P 500 Buffer ETF - February) and BUFR (FT Vest Laddered Buffer ETF) are both exchange-traded funds - BFEB is a Options Trading fund tracking the Cboe S&P 500 Buffer Protect Index February Series, while BUFR is a Defined Outcome fund actively managed by First Trust. BFEB is passively managed, while BUFR is actively managed. Over the past 5 years, BFEB returned 11.29%/yr vs 9.61%/yr for BUFR. Their correlation of 0.92 suggests significant overlap in exposure. BFEB charges 0.79%/yr vs 0.95%/yr for BUFR.

Performance

BFEB vs. BUFR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator S&P 500 Buffer ETF - February (BFEB) and FT Vest Laddered Buffer ETF (BUFR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFEB achieves a 7.13% return, which is significantly higher than BUFR's 5.63% return.

BFEB

• 1D: -0.71%
• 1M: -0.31%
• YTD: 7.13%
• 6M: 6.83%
• 1Y: 19.04%
• 3Y*: 15.76%
• 5Y*: 11.29%
• 10Y*: —

BUFR

• 1D: -0.66%
• 1M: -0.22%
• YTD: 5.63%
• 6M: 5.31%
• 1Y: 15.99%
• 3Y*: 13.70%
• 5Y*: 9.61%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

BFEB vs. BUFR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BFEB Innovator S&P 500 Buffer ETF - February	7.13%	12.99%	17.58%	22.35%	-6.76%	18.05%	7.53%
BUFR FT Vest Laddered Buffer ETF	5.63%	12.44%	14.68%	19.63%	-7.57%	11.88%	6.60%

Correlation

The correlation between BFEB and BUFR is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.95
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Aug 11, 2020	0.92

The correlation between BFEB and BUFR has been stable across timeframes, ranging from 0.92 to 0.97 - a consistent structural relationship.

Return for Risk

BFEB vs. BUFR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BFEB

BFEB Risk / Return Rank: 77
BFEB Sharpe Ratio Rank: 78
BFEB Sortino Ratio Rank: 79
BFEB Omega Ratio Rank: 81
BFEB Calmar Ratio Rank: 65
BFEB Martin Ratio Rank: 81

BUFR

BUFR Risk / Return Rank: 82
BUFR Sharpe Ratio Rank: 80
BUFR Sortino Ratio Rank: 83
BUFR Omega Ratio Rank: 84
BUFR Calmar Ratio Rank: 72
BUFR Martin Ratio Rank: 88

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFEB vs. BUFR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator S&P 500 Buffer ETF - February (BFEB) and FT Vest Laddered Buffer ETF (BUFR). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	BFEB	BUFR	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.42	-0.12
Sortino ratio: Return per unit of downside risk	3.25	3.48	-0.23
Omega ratio: Gain probability vs. loss probability	1.44	1.48	-0.04
Calmar ratio: Return relative to maximum drawdown	2.98	3.49	-0.50
Martin ratio: Return relative to average drawdown	14.92	18.54	-3.62

BFEB vs. BUFR - Sharpe Ratio Comparison

The current BFEB Sharpe Ratio is 2.30, which is comparable to the BUFR Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of BFEB and BUFR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BFEB vs. BUFR - Drawdown Comparison

The maximum BFEB drawdown since its inception was -27.20%, which is greater than BUFR's maximum drawdown of -13.73%. Use the drawdown chart below to compare losses from any high point for BFEB and BUFR.

Drawdown Indicators

	BFEB	BUFR	Difference
Max Drawdown Largest peak-to-trough decline	-27.20%	-13.73%	-13.47%
Max Drawdown (1Y) Largest decline over 1 year	-6.41%	-4.61%	-1.80%
Max Drawdown (3Y) Largest decline over 3 years	-13.82%	-12.81%	-1.01%
Max Drawdown (5Y) Largest decline over 5 years	-14.84%	-13.73%	-1.11%
Current Drawdown Current decline from peak	-1.31%	-0.96%	-0.35%
Average Drawdown Average peak-to-trough decline	-2.77%	-2.08%	-0.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.28%	0.86%	+0.42%

Volatility

BFEB vs. BUFR - Volatility Comparison

Innovator S&P 500 Buffer ETF - February (BFEB) has a higher volatility of 2.70% compared to FT Vest Laddered Buffer ETF (BUFR) at 2.13%. This indicates that BFEB's price experiences larger fluctuations and is considered to be riskier than BUFR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFEB	BUFR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.70%	2.13%	+0.57%
Volatility (6M) Calculated over the trailing 6-month period	6.75%	5.25%	+1.50%
Volatility (1Y) Calculated over the trailing 1-year period	8.34%	6.65%	+1.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.43%	10.48%	+0.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.25%	10.22%	+4.03%

BFEB vs. BUFR - Expense Ratio Comparison

BFEB has a 0.79% expense ratio, which is lower than BUFR's 0.95% expense ratio.

Dividends

BFEB vs. BUFR - Dividend Comparison

Neither BFEB nor BUFR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BFEB and BUFR in my portfolio?

With a correlation of 0.97, BFEB and BUFR move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, BFEB or BUFR?

BFEB has higher volatility (2.70%) compared to BUFR (2.13%). In terms of maximum drawdown, BFEB dropped -27.20% vs BUFR's -13.73%.

Which ETF is better, BFEB or BUFR?

On 5-year performance, BFEB leads with 11.29% vs 9.61% for BUFR. On fees, BFEB is cheaper at 0.79% per year. On volatility, BUFR has been the lower-risk option at 2.13%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BFEB or BUFR?

Over the 5-year period, BFEB has performed better with a 11.29% return vs 9.61%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BFEB or BUFR?

BFEB is cheaper with a 0.79% expense ratio, compared with 0.95% for BUFR.

Which ETF pays a higher dividend yield, BFEB or BUFR?

BFEB and BUFR have nearly identical dividend yields, around 0.00%.

What is the main difference between BFEB and BUFR?

BFEB is categorized as Options Trading, while BUFR is Defined Outcome. They also come from different issuers: Innovator and First Trust. Their fees differ too: 0.79% for BFEB and 0.95% for BUFR.

Which has better risk-adjusted returns?

BUFR currently has the higher Sharpe Ratio (2.42 vs 2.30), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.