BFOC vs. DMAX
BFOC (FT Vest Bitcoin Strategy Floor15 ETF - October) and DMAX (iShares Large Cap Max Buffer December ETF) are both Defined Outcome funds. BFOC is actively managed, while DMAX is passively managed. At a 0.43 correlation, their price movements are largely independent. BFOC charges 0.90%/yr vs 0.50%/yr for DMAX.
Performance
BFOC vs. DMAX - Performance Comparison
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Returns By Period
In the year-to-date period, BFOC achieves a -7.09% return, which is significantly lower than DMAX's 2.92% return.
BFOC
- 1D
- -0.44%
- 1M
- -0.41%
- 6M
- -10.22%
- YTD
- -7.09%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
DMAX
- 1D
- 0.04%
- 1M
- 0.33%
- 6M
- 2.91%
- YTD
- 2.92%
- 1Y
- 7.32%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BFOC vs. DMAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October | -7.09% | -9.75% |
DMAX iShares Large Cap Max Buffer December ETF | 2.92% | 2.14% |
Correlation
The correlation between BFOC and DMAX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Oct 1, 2025 | 0.43 |
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Return for Risk
BFOC vs. DMAX — Risk / Return Rank
BFOC
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
DMAX
BFOC vs. DMAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Bitcoin Strategy Floor15 ETF - October (BFOC) and iShares Large Cap Max Buffer December ETF (DMAX). 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.
| BFOC | DMAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.67 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 5.20 | — |
| Martin ratioReturn relative to average drawdown | — | 25.68 | — |
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Drawdowns
BFOC vs. DMAX - Drawdown Comparison
The maximum BFOC drawdown since its inception was -18.41%, which is greater than DMAX's maximum drawdown of -3.37%. Use the drawdown chart below to compare losses from any high point for BFOC and DMAX.
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Drawdown Indicators
| BFOC | DMAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.41% | -3.37% | -15.04% |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.41% | — |
Current DrawdownCurrent decline from peak | -17.93% | 0.00% | -17.93% |
Average DrawdownAverage peak-to-trough decline | -13.23% | -0.37% | -12.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.29% | — |
Volatility
BFOC vs. DMAX - Volatility Comparison
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Volatility by Period
| BFOC | DMAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.58% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.65% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 11.94% | 2.29% | +9.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.94% | 3.33% | +8.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 11.94% | 3.33% | +8.61% |
BFOC vs. DMAX - Expense Ratio Comparison
BFOC has a 0.90% expense ratio, which is higher than DMAX's 0.50% expense ratio.
Dividends
BFOC vs. DMAX - Dividend Comparison
BFOC has not paid dividends to shareholders, while DMAX's dividend yield for the trailing twelve months is around 1.15%.
| Position | TTM | 2025 |
|---|---|---|
BFOC FT Vest Bitcoin Strategy Floor15 ETF - October | 0.00% | 0.00% |
DMAX iShares Large Cap Max Buffer December ETF | 1.15% | 1.18% |
Frequently Asked Questions
BFOC and DMAX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, DMAX is cheaper at 0.50% per year. The better choice depends on whether you care most about return, fees, risk, or income.
DMAX is cheaper with a 0.50% expense ratio, compared with 0.90% for BFOC.
DMAX has the higher dividend yield at 1.15%, compared with 0.00% for BFOC.
They also come from different issuers: First Trust and iShares. Their fees differ too: 0.90% for BFOC and 0.50% for DMAX.
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