BUFB vs. BUFD

Last updated Jun 23, 2026

BUFB (Innovator Laddered Allocation Buffer ETF) and BUFD (FT Vest Laddered Deep Buffer ETF) are both Defined Outcome funds. BUFB is passively managed, while BUFD is actively managed. Over the past 3 years, BUFB returned 15.14%/yr vs 11.77%/yr for BUFD. Their correlation of 0.90 suggests significant overlap in exposure. BUFB charges 0.89%/yr vs 0.95%/yr for BUFD.

Performance

BUFB vs. BUFD - Performance Comparison

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

Returns By Period

In the year-to-date period, BUFB achieves a 6.82% return, which is significantly higher than BUFD's 5.06% return.

BUFB

• 1D: -0.22%
• 1M: 0.37%
• YTD: 6.82%
• 6M: 7.04%
• 1Y: 18.84%
• 3Y*: 15.14%
• 5Y*: —
• 10Y*: —

BUFD

• 1D: -0.07%
• 1M: 0.41%
• YTD: 5.06%
• 6M: 5.06%
• 1Y: 14.45%
• 3Y*: 11.77%
• 5Y*: 7.47%
• 10Y*: —

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

BUFB vs. BUFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
BUFB Innovator Laddered Allocation Buffer ETF	6.82%	13.42%	16.37%	20.50%	-8.23%
BUFD FT Vest Laddered Deep Buffer ETF	5.06%	10.66%	12.42%	15.40%	-6.64%

Correlation

The correlation between BUFB and BUFD is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (All Time) Calculated using the full available price history since Feb 9, 2022	0.90

The correlation between BUFB and BUFD has been stable across timeframes, ranging from 0.88 to 0.90 - a consistent structural relationship.

Return for Risk

BUFB vs. BUFD — Risk / Return Rank

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

BUFB

BUFB Risk / Return Rank: 83
BUFB Sharpe Ratio Rank: 80
BUFB Sortino Ratio Rank: 84
BUFB Omega Ratio Rank: 85
BUFB Calmar Ratio Rank: 75
BUFB Martin Ratio Rank: 89

BUFD

BUFD Risk / Return Rank: 89
BUFD Sharpe Ratio Rank: 88
BUFD Sortino Ratio Rank: 92
BUFD Omega Ratio Rank: 91
BUFD Calmar Ratio Rank: 82
BUFD Martin Ratio Rank: 93

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. BUFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Innovator Laddered Allocation Buffer ETF (BUFB) and FT Vest Laddered Deep Buffer ETF (BUFD). 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.

	BUFB	BUFD	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.76	-0.29
Sortino ratio: Return per unit of downside risk	3.57	4.21	-0.64
Omega ratio: Gain probability vs. loss probability	1.49	1.57	-0.08
Calmar ratio: Return relative to maximum drawdown	3.70	4.23	-0.53
Martin ratio: Return relative to average drawdown	19.19	22.74	-3.56

BUFB vs. BUFD - Sharpe Ratio Comparison

The current BUFB Sharpe Ratio is 2.47, which is comparable to the BUFD Sharpe Ratio of 2.76. The chart below compares the historical Sharpe Ratios of BUFB and BUFD, 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

BUFB vs. BUFD - Drawdown Comparison

The maximum BUFB drawdown since its inception was -14.88%, which is greater than BUFD's maximum drawdown of -10.75%. Use the drawdown chart below to compare losses from any high point for BUFB and BUFD.

Drawdown Indicators

	BUFB	BUFD	Difference
Max Drawdown Largest peak-to-trough decline	-14.88%	-10.75%	-4.13%
Max Drawdown (1Y) Largest decline over 1 year	-5.12%	-3.43%	-1.69%
Max Drawdown (3Y) Largest decline over 3 years	-13.75%	-10.15%	-3.60%
Max Drawdown (5Y) Largest decline over 5 years	—	-10.75%	—
Current Drawdown Current decline from peak	-0.52%	-0.24%	-0.28%
Average Drawdown Average peak-to-trough decline	-2.85%	-1.96%	-0.89%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.98%	0.64%	+0.34%

Volatility

BUFB vs. BUFD - Volatility Comparison

Innovator Laddered Allocation Buffer ETF (BUFB) has a higher volatility of 2.47% compared to FT Vest Laddered Deep Buffer ETF (BUFD) at 1.60%. This indicates that BUFB's price experiences larger fluctuations and is considered to be riskier than BUFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFB	BUFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.47%	1.60%	+0.87%
Volatility (6M) Calculated over the trailing 6-month period	6.16%	4.17%	+1.99%
Volatility (1Y) Calculated over the trailing 1-year period	7.69%	5.27%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.99%	7.74%	+4.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.99%	7.54%	+4.45%

BUFB vs. BUFD - Expense Ratio Comparison

BUFB has a 0.89% expense ratio, which is lower than BUFD's 0.95% expense ratio.

Dividends

BUFB vs. BUFD - Dividend Comparison

Neither BUFB nor BUFD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BUFB and BUFD in my portfolio?

BUFB and BUFD have a correlation of 0.89, 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 BUFD?

BUFB has higher volatility (2.47%) compared to BUFD (1.60%). In terms of maximum drawdown, BUFB dropped -14.88% vs BUFD's -10.75%.

Which ETF is better, BUFB or BUFD?

On 3-year performance, BUFB leads with 15.14% vs 11.77% for BUFD. On fees, BUFB is cheaper at 0.89% per year. On volatility, BUFD has been the lower-risk option at 1.60%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFB or BUFD?

Over the 3-year period, BUFB has performed better with a 15.14% return vs 11.77%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFB or BUFD?

BUFB is cheaper with a 0.89% expense ratio, compared with 0.95% for BUFD.

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

BUFB and BUFD have nearly identical dividend yields, around 0.00%.

What is the main difference between BUFB and BUFD?

They also come from different issuers: Innovator and FT Vest. Their fees differ too: 0.89% for BUFB and 0.95% for BUFD.

Which has better risk-adjusted returns?

BUFD currently has the higher Sharpe Ratio (2.76 vs 2.47), 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.