BUFH vs. FDL

Last updated Jun 26, 2026

BUFH (FT Vest Laddered Max Buffer ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - BUFH is a Defined Outcome fund managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. Over the past year, BUFH returned 6.28% vs 23.52% for FDL. At a 0.08 correlation, their price movements are largely independent. BUFH charges 0.95%/yr vs 0.43%/yr for FDL.

Performance

BUFH vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Laddered Max Buffer ETF (BUFH) and First Trust Morningstar Dividend Leaders Index Fund (FDL). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFH achieves a 2.30% return, which is significantly lower than FDL's 12.82% return.

BUFH

• 1D: 0.00%
• 1M: 0.00%
• YTD: 2.30%
• 6M: 2.28%
• 1Y: 6.28%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 0.46%
• 1M: -1.40%
• YTD: 12.82%
• 6M: 12.61%
• 1Y: 23.52%
• 3Y*: 18.84%
• 5Y*: 13.04%
• 10Y*: 11.24%

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

BUFH vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025
BUFH FT Vest Laddered Max Buffer ETF	2.30%	3.81%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.82%	8.56%

Correlation

The correlation between BUFH and FDL is 0.08, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.08
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.08

Return for Risk

BUFH vs. FDL — Risk / Return Rank

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

BUFH

BUFH Risk / Return Rank: 91
BUFH Sharpe Ratio Rank: 90
BUFH Sortino Ratio Rank: 94
BUFH Omega Ratio Rank: 94
BUFH Calmar Ratio Rank: 84
BUFH Martin Ratio Rank: 92

FDL

FDL Risk / Return Rank: 79
FDL Sharpe Ratio Rank: 74
FDL Sortino Ratio Rank: 81
FDL Omega Ratio Rank: 70
FDL Calmar Ratio Rank: 93
FDL Martin Ratio Rank: 78

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.

BUFH vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Max Buffer ETF (BUFH) and First Trust Morningstar Dividend Leaders Index Fund (FDL). 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.

	BUFH	FDL	Difference
Sharpe ratio: Return per unit of total volatility	2.66	2.05	+0.61
Sortino ratio: Return per unit of downside risk	4.16	3.11	+1.05
Omega ratio: Gain probability vs. loss probability	1.59	1.36	+0.24
Calmar ratio: Return relative to maximum drawdown	4.11	5.53	-1.42
Martin ratio: Return relative to average drawdown	19.34	12.87	+6.47

BUFH vs. FDL - Sharpe Ratio Comparison

The current BUFH Sharpe Ratio is 2.66, which is comparable to the FDL Sharpe Ratio of 2.05. The chart below compares the historical Sharpe Ratios of BUFH and FDL, 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

BUFH vs. FDL - Drawdown Comparison

The maximum BUFH drawdown since its inception was -1.53%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for BUFH and FDL.

Drawdown Indicators

	BUFH	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-1.53%	-65.93%	+64.40%
Max Drawdown (1Y) Largest decline over 1 year	-1.53%	-4.27%	+2.74%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-0.26%	-2.96%	+2.70%
Average Drawdown Average peak-to-trough decline	-0.18%	-9.63%	+9.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	1.83%	-1.50%

Volatility

BUFH vs. FDL - Volatility Comparison

The current volatility for FT Vest Laddered Max Buffer ETF (BUFH) is 0.62%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 3.39%. This indicates that BUFH experiences smaller price fluctuations and is considered to be less risky than FDL based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFH	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.62%	3.39%	-2.77%
Volatility (6M) Calculated over the trailing 6-month period	1.96%	8.09%	-6.13%
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	11.55%	-9.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.37%	14.31%	-11.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.37%	17.10%	-14.73%

BUFH vs. FDL - Expense Ratio Comparison

BUFH has a 0.95% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

BUFH vs. FDL - Dividend Comparison

BUFH has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 4.69%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFH FT Vest Laddered Max Buffer ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
FDL First Trust Morningstar Dividend Leaders Index Fund	4.69%	4.04%	4.96%	4.58%	3.58%	4.59%	4.48%	3.75%	3.97%	3.18%	2.93%	3.65%

Frequently Asked Questions

Can I hold both BUFH and FDL in my portfolio?

BUFH and FDL have a correlation of 0.08, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFH or FDL?

FDL has higher volatility (3.39%) compared to BUFH (0.62%). In terms of maximum drawdown, BUFH dropped -1.53% vs FDL's -65.93%.

Which ETF is better, BUFH or FDL?

On 1-year performance, FDL leads with 23.52% vs 6.28% for BUFH. On fees, FDL is cheaper at 0.43% per year. On volatility, BUFH has been the lower-risk option at 0.62%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFH or FDL?

Over the 1-year period, FDL has performed better with a 23.52% return vs 6.28%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFH or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 0.95% for BUFH.

Which ETF pays a higher dividend yield, BUFH or FDL?

FDL has the higher dividend yield at 4.69%, compared with 0.00% for BUFH.

What is the main difference between BUFH and FDL?

BUFH is categorized as Defined Outcome, while FDL is Large Cap Value Equities. Their fees differ too: 0.95% for BUFH and 0.43% for FDL.

Which has better risk-adjusted returns?

BUFH currently has the higher Sharpe Ratio (2.66 vs 2.05), 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.