BGLD vs. KFEB

Last updated Jun 24, 2026

BGLD (FT Vest Gold Strategy Quarterly Buffer ETF) and KFEB (Innovator U.S. Small Cap Power Buffer ETF - February) are both Defined Outcome funds. Both are actively managed. Over the past year, BGLD returned 7.94% vs 26.39% for KFEB. At a 0.15 correlation, their price movements are largely independent. BGLD charges 0.91%/yr vs 0.79%/yr for KFEB.

Performance

BGLD vs. KFEB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) and Innovator U.S. Small Cap Power Buffer ETF - February (KFEB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGLD achieves a -3.71% return, which is significantly lower than KFEB's 13.48% return.

BGLD

• 1D: -0.57%
• 1M: -4.77%
• YTD: -3.71%
• 6M: -6.89%
• 1Y: 7.94%
• 3Y*: 18.31%
• 5Y*: 10.99%
• 10Y*: —

KFEB

• 1D: 0.37%
• 1M: 2.25%
• YTD: 13.48%
• 6M: 10.80%
• 1Y: 26.39%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BGLD vs. KFEB - Yearly Performance Comparison

	2026 (YTD)	2025
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	-3.71%	25.83%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	13.48%	9.19%

Correlation

The correlation between BGLD and KFEB is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (All Time) Calculated using the full available price history since Feb 3, 2025	0.15

Return for Risk

BGLD vs. KFEB — Risk / Return Rank

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

BGLD

BGLD Risk / Return Rank: 18
BGLD Sharpe Ratio Rank: 19
BGLD Sortino Ratio Rank: 18
BGLD Omega Ratio Rank: 20
BGLD Calmar Ratio Rank: 17
BGLD Martin Ratio Rank: 18

KFEB

KFEB Risk / Return Rank: 80
KFEB Sharpe Ratio Rank: 78
KFEB Sortino Ratio Rank: 81
KFEB Omega Ratio Rank: 73
KFEB Calmar Ratio Rank: 86
KFEB Martin Ratio Rank: 84

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.

BGLD vs. KFEB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) and Innovator U.S. Small Cap Power Buffer ETF - February (KFEB). 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.

	BGLD	KFEB	Difference
Sharpe ratio: Return per unit of total volatility	0.64	2.40	-1.76
Sortino ratio: Return per unit of downside risk	0.92	3.44	-2.52
Omega ratio: Gain probability vs. loss probability	1.13	1.41	-0.28
Calmar ratio: Return relative to maximum drawdown	0.70	4.57	-3.87
Martin ratio: Return relative to average drawdown	1.96	16.64	-14.69

BGLD vs. KFEB - Sharpe Ratio Comparison

The current BGLD Sharpe Ratio is 0.64, which is lower than the KFEB Sharpe Ratio of 2.40. The chart below compares the historical Sharpe Ratios of BGLD and KFEB, 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

BGLD vs. KFEB - Drawdown Comparison

The maximum BGLD drawdown since its inception was -16.19%, which is greater than KFEB's maximum drawdown of -14.16%. Use the drawdown chart below to compare losses from any high point for BGLD and KFEB.

Drawdown Indicators

	BGLD	KFEB	Difference
Max Drawdown Largest peak-to-trough decline	-16.19%	-14.16%	-2.03%
Max Drawdown (1Y) Largest decline over 1 year	-11.42%	-5.80%	-5.62%
Max Drawdown (3Y) Largest decline over 3 years	-11.42%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.42%	—	—
Current Drawdown Current decline from peak	-10.95%	0.00%	-10.95%
Average Drawdown Average peak-to-trough decline	-3.69%	-2.26%	-1.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.07%	1.59%	+2.48%

Volatility

BGLD vs. KFEB - Volatility Comparison

FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) has a higher volatility of 4.56% compared to Innovator U.S. Small Cap Power Buffer ETF - February (KFEB) at 2.67%. This indicates that BGLD's price experiences larger fluctuations and is considered to be riskier than KFEB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGLD	KFEB	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.56%	2.67%	+1.89%
Volatility (6M) Calculated over the trailing 6-month period	10.79%	7.74%	+3.05%
Volatility (1Y) Calculated over the trailing 1-year period	12.55%	11.08%	+1.47%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.13%	13.18%	-3.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.02%	13.18%	-3.16%

BGLD vs. KFEB - Expense Ratio Comparison

BGLD has a 0.91% expense ratio, which is higher than KFEB's 0.79% expense ratio.

Dividends

BGLD vs. KFEB - Dividend Comparison

BGLD's dividend yield for the trailing twelve months is around 46.03%, while KFEB has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	46.03%	44.32%	25.04%	10.49%	0.40%
KFEB Innovator U.S. Small Cap Power Buffer ETF - February	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BGLD and KFEB in my portfolio?

BGLD and KFEB have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BGLD or KFEB?

BGLD has higher volatility (4.56%) compared to KFEB (2.67%). In terms of maximum drawdown, BGLD dropped -16.19% vs KFEB's -14.16%.

Which ETF is better, BGLD or KFEB?

On 1-year performance, KFEB leads with 26.39% vs 7.94% for BGLD. On fees, KFEB is cheaper at 0.79% per year. On volatility, KFEB has been the lower-risk option at 2.67%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGLD or KFEB?

Over the 1-year period, KFEB has performed better with a 26.39% return vs 7.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGLD or KFEB?

KFEB is cheaper with a 0.79% expense ratio, compared with 0.91% for BGLD.

Which ETF pays a higher dividend yield, BGLD or KFEB?

BGLD has the higher dividend yield at 46.03%, compared with 0.00% for KFEB.

What is the main difference between BGLD and KFEB?

They also come from different issuers: FT Vest and Innovator. Their fees differ too: 0.91% for BGLD and 0.79% for KFEB.

Which has better risk-adjusted returns?

KFEB currently has the higher Sharpe Ratio (2.40 vs 0.64), 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.