BGLD vs. TMAR

Last updated Jun 4, 2026

BGLD (FT Vest Gold Strategy Quarterly Buffer ETF) and TMAR (FT Vest Emerging Markets Buffer ETF - March) are both Defined Outcome funds. BGLD is actively managed, while TMAR is passively managed. Over the past year, BGLD returned 12.93% vs 28.83% for TMAR. At a 0.21 correlation, their price movements are largely independent. BGLD charges 0.91%/yr vs 0.95%/yr for TMAR.

Performance

BGLD vs. TMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) and FT Vest Emerging Markets Buffer ETF - March (TMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BGLD achieves a 0.32% return, which is significantly lower than TMAR's 14.45% return.

BGLD

• 1D: -0.52%
• 1M: 0.80%
• YTD: 0.32%
• 6M: 1.34%
• 1Y: 12.93%
• 3Y*: 19.37%
• 5Y*: 11.20%
• 10Y*: —

TMAR

• 1D: -0.72%
• 1M: 2.73%
• YTD: 14.45%
• 6M: 15.92%
• 1Y: 28.83%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BGLD vs. TMAR - Yearly Performance Comparison

	2026 (YTD)	2025
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	0.32%	18.36%
TMAR FT Vest Emerging Markets Buffer ETF - March	14.45%	14.71%

Correlation

The correlation between BGLD and TMAR is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (All Time) Calculated using the full available price history since Mar 25, 2025	0.21

Return for Risk

BGLD vs. TMAR — Risk / Return Rank

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

BGLD

BGLD Risk / Return Rank: 28
BGLD Sharpe Ratio Rank: 29
BGLD Sortino Ratio Rank: 28
BGLD Omega Ratio Rank: 31
BGLD Calmar Ratio Rank: 25
BGLD Martin Ratio Rank: 27

TMAR

TMAR Risk / Return Rank: 94
TMAR Sharpe Ratio Rank: 90
TMAR Sortino Ratio Rank: 93
TMAR Omega Ratio Rank: 96
TMAR Calmar Ratio Rank: 95
TMAR Martin Ratio Rank: 96

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. TMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) and FT Vest Emerging Markets Buffer ETF - March (TMAR). 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.

	BGLD	TMAR	Difference
Sharpe ratio: Return per unit of total volatility	1.09	3.06	-1.97
Sortino ratio: Return per unit of downside risk	1.51	4.63	-3.12
Omega ratio: Gain probability vs. loss probability	1.21	1.77	-0.55
Calmar ratio: Return relative to maximum drawdown	1.17	7.95	-6.78
Martin ratio: Return relative to average drawdown	3.72	38.42	-34.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BGLD vs. TMAR - Sharpe Ratio Comparison

The current BGLD Sharpe Ratio is 1.09, which is lower than the TMAR Sharpe Ratio of 3.06. The chart below compares the historical Sharpe Ratios of BGLD and TMAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BGLD	TMAR	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.09	3.06	-1.97
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.13	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	2.25	-1.20

Drawdowns

BGLD vs. TMAR - Drawdown Comparison

The maximum BGLD drawdown since its inception was -16.19%, which is greater than TMAR's maximum drawdown of -9.93%. Use the drawdown chart below to compare losses from any high point for BGLD and TMAR.

Drawdown Indicators

	BGLD	TMAR	Difference
Max Drawdown Largest peak-to-trough decline	-16.19%	-9.93%	-6.26%
Max Drawdown (1Y) Largest decline over 1 year	-11.11%	-3.64%	-7.47%
Max Drawdown (3Y) Largest decline over 3 years	-11.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-15.52%	—	—
Current Drawdown Current decline from peak	-7.22%	-0.72%	-6.50%
Average Drawdown Average peak-to-trough decline	-3.64%	-0.66%	-2.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.49%	0.75%	+2.74%

Volatility

BGLD vs. TMAR - Volatility Comparison

The current volatility for FT Vest Gold Strategy Quarterly Buffer ETF (BGLD) is 2.20%, while FT Vest Emerging Markets Buffer ETF - March (TMAR) has a volatility of 4.53%. This indicates that BGLD experiences smaller price fluctuations and is considered to be less risky than TMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BGLD	TMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.20%	4.53%	-2.33%
Volatility (6M) Calculated over the trailing 6-month period	10.04%	8.17%	+1.87%
Volatility (1Y) Calculated over the trailing 1-year period	11.90%	9.47%	+2.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.97%	11.42%	-1.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	9.89%	11.42%	-1.53%

BGLD vs. TMAR - Expense Ratio Comparison

BGLD has a 0.91% expense ratio, which is lower than TMAR's 0.95% expense ratio.

Dividends

BGLD vs. TMAR - Dividend Comparison

BGLD's dividend yield for the trailing twelve months is around 44.18%, while TMAR has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022
BGLD FT Vest Gold Strategy Quarterly Buffer ETF	44.18%	44.32%	25.04%	10.49%	0.40%
TMAR FT Vest Emerging Markets Buffer ETF - March	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BGLD and TMAR in my portfolio?

BGLD and TMAR have a correlation of 0.24, 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 TMAR?

TMAR has higher volatility (4.53%) compared to BGLD (2.20%). In terms of maximum drawdown, BGLD dropped -16.19% vs TMAR's -9.93%.

Which ETF is better, BGLD or TMAR?

On 1-year performance, TMAR leads with 28.83% vs 12.93% for BGLD. On fees, BGLD is cheaper at 0.91% per year. On volatility, BGLD has been the lower-risk option at 2.20%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BGLD or TMAR?

Over the 1-year period, TMAR has performed better with a 28.83% return vs 12.93%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BGLD or TMAR?

BGLD is cheaper with a 0.91% expense ratio, compared with 0.95% for TMAR.

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

BGLD has the higher dividend yield at 44.18%, compared with 0.00% for TMAR.

What is the main difference between BGLD and TMAR?

They also come from different issuers: FT Vest and First Trust. Their fees differ too: 0.91% for BGLD and 0.95% for TMAR.

Which has better risk-adjusted returns?

TMAR currently has the higher Sharpe Ratio (3.06 vs 1.09), 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.