BUFR vs. FDL

Last updated Jun 4, 2026

BUFR (FT Vest Laddered Buffer ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - BUFR is a Defined Outcome fund actively managed by First Trust, while FDL is a Large Cap Value Equities fund tracking the Morningstar Dividend Leaders Index. BUFR is actively managed, while FDL is passively managed. Over the past 5 years, BUFR returned 9.98%/yr vs 12.51%/yr for FDL. A 0.56 correlation means they provide meaningful diversification when combined. BUFR charges 0.95%/yr vs 0.45%/yr for FDL.

Performance

BUFR vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Laddered Buffer ETF (BUFR) 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, BUFR achieves a 6.42% return, which is significantly lower than FDL's 13.33% return.

BUFR

• 1D: -0.21%
• 1M: 2.16%
• YTD: 6.42%
• 6M: 7.11%
• 1Y: 17.61%
• 3Y*: 14.50%
• 5Y*: 9.98%
• 10Y*: —

FDL

• 1D: -0.26%
• 1M: -0.26%
• YTD: 13.33%
• 6M: 14.76%
• 1Y: 23.67%
• 3Y*: 18.97%
• 5Y*: 12.51%
• 10Y*: 11.24%

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

BUFR vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
BUFR FT Vest Laddered Buffer ETF	6.42%	12.44%	14.68%	19.63%	-7.57%	11.88%	7.57%
FDL First Trust Morningstar Dividend Leaders Index Fund	13.33%	14.79%	17.98%	2.94%	6.66%	26.10%	11.12%

Correlation

The correlation between BUFR and FDL is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.21
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.56
Correlation (All Time) Calculated using the full available price history since Aug 12, 2020	0.56

Over the past year, the correlation between BUFR and FDL has dropped to 0.21 - well below their long-term average of 0.56, suggesting their price drivers have been diverging.

BUFR vs. FDL - Sectors Allocation Comparison

Sectors	BUFR	FDL
Technology	35.8%	1.1%
Financial Services	11.8%	15.1%
Communication Services	11.3%	10.6%
Consumer Cyclical	10.2%	3.8%
Healthcare	8.4%	16.8%
Industrials	7.9%	3.8%
Consumer Defensive	4.9%	14.7%
Energy	3.5%	27.3%
Utilities	2.4%	6.5%
Real Estate	1.9%	-
Basic Materials	1.8%	0.3%

Return for Risk

BUFR vs. FDL — Risk / Return Rank

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

BUFR

BUFR Risk / Return Rank: 84
BUFR Sharpe Ratio Rank: 82
BUFR Sortino Ratio Rank: 86
BUFR Omega Ratio Rank: 87
BUFR Calmar Ratio Rank: 75
BUFR Martin Ratio Rank: 89

FDL

FDL Risk / Return Rank: 70
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 70
FDL Omega Ratio Rank: 59
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 71

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.

BUFR vs. FDL - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Buffer ETF (BUFR) 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.

	BUFR	FDL	Difference
Sharpe ratio: Return per unit of total volatility	2.71	2.11	+0.60
Sortino ratio: Return per unit of downside risk	3.95	3.25	+0.69
Omega ratio: Gain probability vs. loss probability	1.55	1.37	+0.18
Calmar ratio: Return relative to maximum drawdown	3.84	5.56	-1.72
Martin ratio: Return relative to average drawdown	20.78	13.56	+7.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFR vs. FDL - Sharpe Ratio Comparison

The current BUFR Sharpe Ratio is 2.71, which is comparable to the FDL Sharpe Ratio of 2.11. The chart below compares the historical Sharpe Ratios of BUFR 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.

Sharpe Ratios by Period

	BUFR	FDL	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.71	2.11	+0.60
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.96	0.88	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.66	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	0.45	+0.62

Drawdowns

BUFR vs. FDL - Drawdown Comparison

The maximum BUFR drawdown since its inception was -13.73%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for BUFR and FDL.

Drawdown Indicators

	BUFR	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-13.73%	-65.93%	+52.20%
Max Drawdown (1Y) Largest decline over 1 year	-4.61%	-4.27%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-12.81%	-12.24%	-0.57%
Max Drawdown (5Y) Largest decline over 5 years	-13.73%	-16.46%	+2.73%
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-0.21%	-2.18%	+1.97%
Average Drawdown Average peak-to-trough decline	-2.09%	-9.66%	+7.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.85%	1.75%	-0.90%

Volatility

BUFR vs. FDL - Volatility Comparison

The current volatility for FT Vest Laddered Buffer ETF (BUFR) is 1.03%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 2.85%. This indicates that BUFR 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

	BUFR	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	2.85%	-1.82%
Volatility (6M) Calculated over the trailing 6-month period	4.95%	7.87%	-2.92%
Volatility (1Y) Calculated over the trailing 1-year period	6.53%	11.28%	-4.75%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.44%	14.31%	-3.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.23%	17.11%	-6.88%

BUFR vs. FDL - Expense Ratio Comparison

BUFR has a 0.95% expense ratio, which is higher than FDL's 0.45% expense ratio.

Dividends

BUFR vs. FDL - Dividend Comparison

BUFR has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.68%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFR FT Vest Laddered 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	3.68%	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 BUFR and FDL in my portfolio?

BUFR and FDL have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFR or FDL?

FDL has higher volatility (2.85%) compared to BUFR (1.03%). In terms of maximum drawdown, BUFR dropped -13.73% vs FDL's -65.93%.

Which ETF is better, BUFR or FDL?

On 5-year performance, FDL leads with 12.51% vs 9.98% for BUFR. On fees, FDL is cheaper at 0.45% per year. On volatility, BUFR has been the lower-risk option at 1.03%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFR or FDL?

Over the 5-year period, FDL has performed better with a 12.51% return vs 9.98%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFR or FDL?

FDL is cheaper with a 0.45% expense ratio, compared with 0.95% for BUFR.

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

FDL has the higher dividend yield at 3.68%, compared with 0.00% for BUFR.

What is the main difference between BUFR and FDL?

BUFR is categorized as Defined Outcome, while FDL is Large Cap Value Equities. Their fees differ too: 0.95% for BUFR and 0.45% for FDL.

Which has better risk-adjusted returns?

BUFR currently has the higher Sharpe Ratio (2.71 vs 2.11), 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.