BUFB vs. BOUT

Last updated Jun 4, 2026

BUFB (Innovator Laddered Allocation Buffer ETF) and BOUT (Innovator IBD Breakout Opportunities ETF) are both exchange-traded funds - BUFB is a Defined Outcome fund tracking the MerQube U.S. Large Cap Equity Buffer Laddered Index - Benchmark TR Gross, while BOUT is a Mid Cap Growth Equities fund tracking the IBD Breakout Stocks Total Return Index. Both are passively managed. Over the past 3 years, BUFB returned 15.74%/yr vs 17.42%/yr for BOUT. A 0.72 correlation means they provide meaningful diversification when combined. BUFB charges 0.89%/yr vs 0.80%/yr for BOUT.

Performance

BUFB vs. BOUT - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Innovator Laddered Allocation Buffer ETF (BUFB) and Innovator IBD Breakout Opportunities ETF (BOUT). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFB achieves a 7.03% return, which is significantly lower than BOUT's 31.39% return.

BUFB

• 1D: -0.31%
• 1M: 2.46%
• YTD: 7.03%
• 6M: 7.78%
• 1Y: 19.07%
• 3Y*: 15.74%
• 5Y*: —
• 10Y*: —

BOUT

• 1D: -0.01%
• 1M: 5.85%
• YTD: 31.39%
• 6M: 30.30%
• 1Y: 35.27%
• 3Y*: 17.42%
• 5Y*: 8.25%
• 10Y*: —

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

BUFB vs. BOUT - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BUFB Innovator Laddered Allocation Buffer ETF	7.03%	13.42%	16.37%	20.50%	-8.37%
BOUT Innovator IBD Breakout Opportunities ETF	31.39%	-6.77%	18.82%	13.27%	-18.43%

Correlation

The correlation between BUFB and BOUT is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (All Time) Calculated using the full available price history since Feb 10, 2022	0.72

The correlation between BUFB and BOUT has been stable across timeframes, ranging from 0.67 to 0.72 - a consistent structural relationship.

BUFB vs. BOUT - Sectors Allocation Comparison

Sectors	BUFB	BOUT
Technology	36.2%	28.4%
Financial Services	11.9%	22.9%
Communication Services	10.9%	2.0%
Consumer Cyclical	10.1%	8.5%
Healthcare	8.4%	2.6%
Industrials	8.1%	9.7%
Consumer Defensive	4.9%	9.7%
Energy	3.5%	3.1%
Utilities	2.3%	7.0%
Real Estate	1.9%	3.5%
Basic Materials	1.8%	9.9%

Return for Risk

BUFB vs. BOUT — Risk / Return Rank

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

BUFB

BUFB Risk / Return Rank: 81
BUFB Sharpe Ratio Rank: 78
BUFB Sortino Ratio Rank: 82
BUFB Omega Ratio Rank: 84
BUFB Calmar Ratio Rank: 75
BUFB Martin Ratio Rank: 89

BOUT

BOUT Risk / Return Rank: 51
BOUT Sharpe Ratio Rank: 49
BOUT Sortino Ratio Rank: 47
BOUT Omega Ratio Rank: 46
BOUT Calmar Ratio Rank: 61
BOUT Martin Ratio Rank: 53

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.

BUFB vs. BOUT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Laddered Allocation Buffer ETF (BUFB) and Innovator IBD Breakout Opportunities ETF (BOUT). 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.

	BUFB	BOUT	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.71	+0.85
Sortino ratio: Return per unit of downside risk	3.70	2.33	+1.37
Omega ratio: Gain probability vs. loss probability	1.51	1.30	+0.21
Calmar ratio: Return relative to maximum drawdown	3.74	3.01	+0.73
Martin ratio: Return relative to average drawdown	19.82	9.00	+10.82
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFB vs. BOUT - Sharpe Ratio Comparison

The current BUFB Sharpe Ratio is 2.55, which is higher than the BOUT Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of BUFB and BOUT, 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

	BUFB	BOUT	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.71	+0.85
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.41	+0.50

Drawdowns

BUFB vs. BOUT - Drawdown Comparison

The maximum BUFB drawdown since its inception was -14.88%, smaller than the maximum BOUT drawdown of -36.75%. Use the drawdown chart below to compare losses from any high point for BUFB and BOUT.

Drawdown Indicators

	BUFB	BOUT	Difference
Max Drawdown Largest peak-to-trough decline	-14.88%	-36.75%	+21.87%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-11.76%	+6.64%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	-25.31%	+11.56%
Max Drawdown (5Y) Largest decline over 5 years	—	-28.28%	—
Current Drawdown Current decline from peak	-0.31%	-0.01%	-0.30%
Average Drawdown Average peak-to-trough decline	-2.88%	-12.29%	+9.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	3.93%	-2.97%

Volatility

BUFB vs. BOUT - Volatility Comparison

The current volatility for Innovator Laddered Allocation Buffer ETF (BUFB) is 1.33%, while Innovator IBD Breakout Opportunities ETF (BOUT) has a volatility of 5.96%. This indicates that BUFB experiences smaller price fluctuations and is considered to be less risky than BOUT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFB	BOUT	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.33%	5.96%	-4.63%
Volatility (6M) Calculated over the trailing 6-month period	5.76%	16.05%	-10.29%
Volatility (1Y) Calculated over the trailing 1-year period	7.51%	20.79%	-13.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.01%	19.48%	-7.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.01%	22.93%	-10.92%

BUFB vs. BOUT - Expense Ratio Comparison

BUFB has a 0.89% expense ratio, which is higher than BOUT's 0.80% expense ratio.

Dividends

BUFB vs. BOUT - Dividend Comparison

BUFB has not paid dividends to shareholders, while BOUT's dividend yield for the trailing twelve months is around 0.26%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BOUT Innovator IBD Breakout Opportunities ETF	0.26%	0.34%	0.60%	1.32%	1.35%	0.00%	0.00%	0.00%	0.22%
BUFB Innovator Laddered Allocation Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUFB and BOUT in my portfolio?

BUFB and BOUT have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFB or BOUT?

BOUT has higher volatility (5.96%) compared to BUFB (1.33%). In terms of maximum drawdown, BUFB dropped -14.88% vs BOUT's -36.75%.

Which ETF is better, BUFB or BOUT?

On 3-year performance, BOUT leads with 17.42% vs 15.74% for BUFB. On fees, BOUT is cheaper at 0.80% per year. On volatility, BUFB has been the lower-risk option at 1.33%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFB or BOUT?

Over the 3-year period, BOUT has performed better with a 17.42% return vs 15.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFB or BOUT?

BOUT is cheaper with a 0.80% expense ratio, compared with 0.89% for BUFB.

Which ETF pays a higher dividend yield, BUFB or BOUT?

BOUT has the higher dividend yield at 0.26%, compared with 0.00% for BUFB.

What is the main difference between BUFB and BOUT?

BUFB is categorized as Defined Outcome, while BOUT is Mid Cap Growth Equities. BUFB tracks MerQube U.S. Large Cap Equity Buffer Laddered Index - Benchmark TR Gross, while BOUT tracks IBD Breakout Stocks Total Return Index. Their fees differ too: 0.89% for BUFB and 0.80% for BOUT.

Which has better risk-adjusted returns?

BUFB currently has the higher Sharpe Ratio (2.55 vs 1.71), 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.