BUFH vs. ZAPR
BUFH (FT Vest Laddered Max Buffer ETF) and ZAPR (Innovator Equity Defined Protection ETF - 1 Yr April) are both Defined Outcome funds. A 0.59 correlation means they provide meaningful diversification when combined. BUFH charges 0.95%/yr vs 0.79%/yr for ZAPR.
Performance
BUFH vs. ZAPR - Performance Comparison
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Returns By Period
In the year-to-date period, BUFH achieves a 2.30% return, which is significantly lower than ZAPR's 3.01% return.
BUFH
- 1D
- -0.19%
- 1M
- 0.02%
- YTD
- 2.30%
- 6M
- 2.33%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZAPR
- 1D
- -0.13%
- 1M
- -0.06%
- YTD
- 3.01%
- 6M
- 3.01%
- 1Y
- 6.50%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BUFH vs. ZAPR - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BUFH FT Vest Laddered Max Buffer ETF | 2.30% | 3.81% |
ZAPR Innovator Equity Defined Protection ETF - 1 Yr April | 3.01% | 3.18% |
Correlation
The correlation between BUFH and ZAPR is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025 | 0.59 |
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Return for Risk
BUFH vs. ZAPR — Risk / Return Rank
BUFH
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
ZAPR
BUFH vs. ZAPR - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Max Buffer ETF (BUFH) and Innovator Equity Defined Protection ETF - 1 Yr April (ZAPR). 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 | ZAPR | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 2.13 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 16.26 | — |
| Martin ratioReturn relative to average drawdown | — | 73.32 | — |
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Drawdowns
BUFH vs. ZAPR - Drawdown Comparison
The maximum BUFH drawdown since its inception was -1.53%, smaller than the maximum ZAPR drawdown of -1.72%. Use the drawdown chart below to compare losses from any high point for BUFH and ZAPR.
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Drawdown Indicators
| BUFH | ZAPR | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.53% | -1.72% | +0.19% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.40% | — |
Current DrawdownCurrent decline from peak | -0.26% | -0.30% | +0.04% |
Average DrawdownAverage peak-to-trough decline | -0.18% | -0.09% | -0.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.09% | — |
Volatility
BUFH vs. ZAPR - Volatility Comparison
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Volatility by Period
| BUFH | ZAPR | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.52% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.11% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.38% | 1.48% | +0.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.38% | 2.49% | -0.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.38% | 2.49% | -0.11% |
BUFH vs. ZAPR - Expense Ratio Comparison
BUFH has a 0.95% expense ratio, which is higher than ZAPR's 0.79% expense ratio.
Dividends
BUFH vs. ZAPR - Dividend Comparison
Neither BUFH nor ZAPR has paid dividends to shareholders.
Frequently Asked Questions
BUFH and ZAPR have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZAPR is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZAPR is cheaper with a 0.79% expense ratio, compared with 0.95% for BUFH.
BUFH and ZAPR have nearly identical dividend yields, around 0.00%.
They also come from different issuers: First Trust and Innovator. Their fees differ too: 0.95% for BUFH and 0.79% for ZAPR.
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