BUFS vs. FBUF

Last updated Jun 4, 2026

BUFS (FT Vest Laddered Small Cap Moderate Buffer ETF) and FBUF (Fidelity Dynamic Buffered Equity ETF) are both Defined Outcome funds. Both are actively managed. Over the past year, BUFS returned 18.99% vs 19.61% for FBUF. A 0.73 correlation means they provide meaningful diversification when combined. BUFS charges 1.01%/yr vs 0.48%/yr for FBUF.

Performance

BUFS vs. FBUF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) and Fidelity Dynamic Buffered Equity ETF (FBUF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFS achieves a 7.57% return, which is significantly higher than FBUF's 5.32% return.

BUFS

• 1D: -0.53%
• 1M: 1.49%
• YTD: 7.57%
• 6M: 7.95%
• 1Y: 18.99%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FBUF

• 1D: -0.12%
• 1M: 2.85%
• YTD: 5.32%
• 6M: 6.28%
• 1Y: 19.61%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

BUFS vs. FBUF - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFS FT Vest Laddered Small Cap Moderate Buffer ETF	7.57%	7.08%	6.83%
FBUF Fidelity Dynamic Buffered Equity ETF	5.32%	14.01%	10.45%

Correlation

The correlation between BUFS and FBUF is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.71
Correlation (All Time) Calculated using the full available price history since May 31, 2024	0.73

The correlation between BUFS and FBUF has been stable across timeframes, ranging from 0.71 to 0.73 - a consistent structural relationship.

Return for Risk

BUFS vs. FBUF — Risk / Return Rank

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

BUFS

BUFS Risk / Return Rank: 72
BUFS Sharpe Ratio Rank: 65
BUFS Sortino Ratio Rank: 69
BUFS Omega Ratio Rank: 65
BUFS Calmar Ratio Rank: 80
BUFS Martin Ratio Rank: 82

FBUF

FBUF Risk / Return Rank: 79
FBUF Sharpe Ratio Rank: 80
FBUF Sortino Ratio Rank: 79
FBUF Omega Ratio Rank: 86
FBUF Calmar Ratio Rank: 70
FBUF Martin Ratio Rank: 80

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.

BUFS vs. FBUF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) and Fidelity Dynamic Buffered Equity ETF (FBUF). 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.

	BUFS	FBUF	Difference
Sharpe ratio: Return per unit of total volatility	2.13	2.63	-0.50
Sortino ratio: Return per unit of downside risk	3.10	3.55	-0.45
Omega ratio: Gain probability vs. loss probability	1.39	1.53	-0.14
Calmar ratio: Return relative to maximum drawdown	4.07	3.51	+0.57
Martin ratio: Return relative to average drawdown	16.32	15.68	+0.64
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFS vs. FBUF - Sharpe Ratio Comparison

The current BUFS Sharpe Ratio is 2.13, which is comparable to the FBUF Sharpe Ratio of 2.63. The chart below compares the historical Sharpe Ratios of BUFS and FBUF, 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

	BUFS	FBUF	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	2.63	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.98	1.47	-0.49

Drawdowns

BUFS vs. FBUF - Drawdown Comparison

The maximum BUFS drawdown since its inception was -15.03%, which is greater than FBUF's maximum drawdown of -11.09%. Use the drawdown chart below to compare losses from any high point for BUFS and FBUF.

Drawdown Indicators

	BUFS	FBUF	Difference
Max Drawdown Largest peak-to-trough decline	-15.03%	-11.09%	-3.94%
Max Drawdown (1Y) Largest decline over 1 year	-4.68%	-5.61%	+0.93%
Current Drawdown Current decline from peak	-0.61%	-0.22%	-0.39%
Average Drawdown Average peak-to-trough decline	-2.42%	-1.38%	-1.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.17%	1.25%	-0.08%

Volatility

BUFS vs. FBUF - Volatility Comparison

FT Vest Laddered Small Cap Moderate Buffer ETF (BUFS) has a higher volatility of 1.83% compared to Fidelity Dynamic Buffered Equity ETF (FBUF) at 1.11%. This indicates that BUFS's price experiences larger fluctuations and is considered to be riskier than FBUF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFS	FBUF	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	1.11%	+0.72%
Volatility (6M) Calculated over the trailing 6-month period	5.45%	5.37%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	8.99%	7.49%	+1.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.21%	9.55%	+1.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.21%	9.55%	+1.66%

BUFS vs. FBUF - Expense Ratio Comparison

BUFS has a 1.01% expense ratio, which is higher than FBUF's 0.48% expense ratio.

Dividends

BUFS vs. FBUF - Dividend Comparison

BUFS has not paid dividends to shareholders, while FBUF's dividend yield for the trailing twelve months is around 0.63%.

Position	TTM	2025	2024
BUFS FT Vest Laddered Small Cap Moderate Buffer ETF	0.00%	0.00%	0.00%
FBUF Fidelity Dynamic Buffered Equity ETF	0.63%	0.64%	0.54%

Frequently Asked Questions

Can I hold both BUFS and FBUF in my portfolio?

BUFS and FBUF have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFS or FBUF?

BUFS has higher volatility (1.83%) compared to FBUF (1.11%). In terms of maximum drawdown, BUFS dropped -15.03% vs FBUF's -11.09%.

Which ETF is better, BUFS or FBUF?

On 1-year performance, FBUF leads with 19.61% vs 18.99% for BUFS. On fees, FBUF is cheaper at 0.48% per year. On volatility, FBUF has been the lower-risk option at 1.11%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFS or FBUF?

Over the 1-year period, FBUF has performed better with a 19.61% return vs 18.99%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFS or FBUF?

FBUF is cheaper with a 0.48% expense ratio, compared with 1.01% for BUFS.

Which ETF pays a higher dividend yield, BUFS or FBUF?

FBUF has the higher dividend yield at 0.63%, compared with 0.00% for BUFS.

What is the main difference between BUFS and FBUF?

They also come from different issuers: First Trust and Fidelity. Their fees differ too: 1.01% for BUFS and 0.48% for FBUF.

Which has better risk-adjusted returns?

FBUF currently has the higher Sharpe Ratio (2.63 vs 2.13), 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.