BUFH vs. ZMAY
BUFH (FT Vest Laddered Max Buffer ETF) and ZMAY (Innovator Equity Defined Protection ETF - 1 Yr May) are both Defined Outcome funds. A 0.50 correlation means they provide meaningful diversification when combined. BUFH charges 0.95%/yr vs 0.79%/yr for ZMAY.
Performance
BUFH vs. ZMAY - Performance Comparison
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Returns By Period
In the year-to-date period, BUFH achieves a 2.45% return, which is significantly higher than ZMAY's 2.20% return.
BUFH
- 1D
- -0.05%
- 1M
- 0.75%
- YTD
- 2.45%
- 6M
- 2.82%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ZMAY
- 1D
- -0.06%
- 1M
- 0.79%
- YTD
- 2.20%
- 6M
- 2.77%
- 1Y
- 5.95%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
BUFH vs. ZMAY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
BUFH FT Vest Laddered Max Buffer ETF | 2.45% | 3.89% |
ZMAY Innovator Equity Defined Protection ETF - 1 Yr May | 2.20% | 3.08% |
Correlation
The correlation between BUFH and ZMAY is 0.50, 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 26, 2025 | 0.50 |
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Return for Risk
BUFH vs. ZMAY — Risk / Return Rank
BUFH
ZMAY
BUFH vs. ZMAY - 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 May (ZMAY). 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.
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
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Sharpe Ratios by Period
| BUFH | ZMAY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | — | 4.12 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.91 | 4.24 | -1.33 |
Drawdowns
BUFH vs. ZMAY - Drawdown Comparison
The maximum BUFH drawdown since its inception was -1.53%, which is greater than ZMAY's maximum drawdown of -0.39%. Use the drawdown chart below to compare losses from any high point for BUFH and ZMAY.
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Drawdown Indicators
| BUFH | ZMAY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.53% | -0.39% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | — | -0.39% | — |
Current DrawdownCurrent decline from peak | -0.05% | -0.06% | +0.01% |
Average DrawdownAverage peak-to-trough decline | -0.18% | -0.05% | -0.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.08% | — |
Volatility
BUFH vs. ZMAY - Volatility Comparison
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Volatility by Period
| BUFH | ZMAY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.53% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.06% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.37% | 1.45% | +0.92% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.37% | 1.52% | +0.85% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.37% | 1.52% | +0.85% |
BUFH vs. ZMAY - Expense Ratio Comparison
BUFH has a 0.95% expense ratio, which is higher than ZMAY's 0.79% expense ratio.
Dividends
BUFH vs. ZMAY - Dividend Comparison
Neither BUFH nor ZMAY has paid dividends to shareholders.
Frequently Asked Questions
BUFH and ZMAY have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, ZMAY is cheaper at 0.79% per year. The better choice depends on whether you care most about return, fees, risk, or income.
ZMAY is cheaper with a 0.79% expense ratio, compared with 0.95% for BUFH.
BUFH and ZMAY 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 ZMAY.
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