BUFT vs. DBE

Last updated Jun 4, 2026

BUFT (FT Cboe Vest Buffered Allocation Defensive ETF) and DBE (Invesco DB Energy Fund) are both exchange-traded funds - BUFT is a Options Trading fund actively managed by FT Vest, while DBE is a Oil & Gas fund tracking the DBIQ Optimum Yield Energy Index. BUFT is actively managed, while DBE is passively managed. Over the past 3 years, BUFT returned 9.94%/yr vs 23.42%/yr for DBE. At a 0.08 correlation, their price movements are largely independent. BUFT charges 1.05%/yr vs 0.78%/yr for DBE.

Performance

BUFT vs. DBE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest Buffered Allocation Defensive ETF (BUFT) and Invesco DB Energy Fund (DBE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFT achieves a 5.16% return, which is significantly lower than DBE's 83.68% return.

BUFT

• 1D: -0.02%
• 1M: 0.96%
• YTD: 5.16%
• 6M: 5.78%
• 1Y: 11.53%
• 3Y*: 9.94%
• 5Y*: —
• 10Y*: —

DBE

• 1D: 2.33%
• 1M: -5.45%
• YTD: 83.68%
• 6M: 74.95%
• 1Y: 84.41%
• 3Y*: 23.42%
• 5Y*: 19.66%
• 10Y*: 12.03%

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

BUFT vs. DBE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
BUFT FT Cboe Vest Buffered Allocation Defensive ETF	5.16%	9.67%	7.72%	12.88%	-8.41%	0.70%
DBE Invesco DB Energy Fund	83.68%	-2.17%	2.96%	-12.14%	33.77%	-6.46%

Correlation

The correlation between BUFT and DBE is -0.27, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.27
Correlation (3Y) Calculated over the trailing 3-year period	-0.04
Correlation (All Time) Calculated using the full available price history since Oct 28, 2021	0.08

The correlation between BUFT and DBE shifts across timeframes, from -0.27 (1 year) to 0.08 (all time), reflecting how their relationship changes across market environments.

Return for Risk

BUFT vs. DBE — Risk / Return Rank

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

BUFT

BUFT Risk / Return Rank: 95
BUFT Sharpe Ratio Rank: 93
BUFT Sortino Ratio Rank: 97
BUFT Omega Ratio Rank: 98
BUFT Calmar Ratio Rank: 91
BUFT Martin Ratio Rank: 97

DBE

DBE Risk / Return Rank: 71
DBE Sharpe Ratio Rank: 74
DBE Sortino Ratio Rank: 63
DBE Omega Ratio Rank: 65
DBE Calmar Ratio Rank: 91
DBE Martin Ratio Rank: 63

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.

BUFT vs. DBE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Buffered Allocation Defensive ETF (BUFT) and Invesco DB Energy Fund (DBE). 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.

	BUFT	DBE	Difference
Sharpe ratio Return per unit of total volatility	3.49	2.43	+1.06
Sortino ratio Return per unit of downside risk	5.89	2.96	+2.94
Omega ratio Gain probability vs. loss probability	2.04	1.40	+0.64
Calmar ratio Return relative to maximum drawdown	5.74	5.89	-0.15
Martin ratio Return relative to average drawdown	50.19	11.53	+38.66
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BUFT vs. DBE - Sharpe Ratio Comparison

The current BUFT Sharpe Ratio is 3.49, which is higher than the DBE Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of BUFT and DBE, 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

	BUFT	DBE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.49	2.43	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.67	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	0.09	+0.74

Drawdowns

BUFT vs. DBE - Drawdown Comparison

The maximum BUFT drawdown since its inception was -10.40%, smaller than the maximum DBE drawdown of -86.69%. Use the drawdown chart below to compare losses from any high point for BUFT and DBE.

Drawdown Indicators

	BUFT	DBE	Difference
Max Drawdown Largest peak-to-trough decline	-10.40%	-86.69%	+76.29%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-14.41%	+12.39%
Max Drawdown (3Y) Largest decline over 3 years	-7.97%	-23.89%	+15.92%
Max Drawdown (5Y) Largest decline over 5 years	—	-38.74%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-60.84%	—
Current Drawdown Current decline from peak	-0.02%	-30.27%	+30.25%
Average Drawdown Average peak-to-trough decline	-2.13%	-57.31%	+55.18%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.23%	7.35%	-7.12%

Volatility

BUFT vs. DBE - Volatility Comparison

The current volatility for FT Cboe Vest Buffered Allocation Defensive ETF (BUFT) is 0.31%, while Invesco DB Energy Fund (DBE) has a volatility of 12.95%. This indicates that BUFT experiences smaller price fluctuations and is considered to be less risky than DBE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFT	DBE	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.31%	12.95%	-12.64%
Volatility (6M) Calculated over the trailing 6-month period	2.77%	30.86%	-28.09%
Volatility (1Y) Calculated over the trailing 1-year period	3.32%	34.97%	-31.65%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.94%	29.39%	-22.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.94%	28.33%	-21.39%

BUFT vs. DBE - Expense Ratio Comparison

BUFT has a 1.05% expense ratio, which is higher than DBE's 0.78% expense ratio.

Dividends

BUFT vs. DBE - Dividend Comparison

BUFT has not paid dividends to shareholders, while DBE's dividend yield for the trailing twelve months is around 2.10%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
BUFT FT Cboe Vest Buffered Allocation Defensive ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DBE Invesco DB Energy Fund	2.10%	3.86%	6.32%	3.87%	0.75%	0.00%	0.00%	1.79%	1.67%

Frequently Asked Questions

Can I hold both BUFT and DBE in my portfolio?

BUFT and DBE have a correlation of -0.27, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFT or DBE?

DBE has higher volatility (12.95%) compared to BUFT (0.31%). In terms of maximum drawdown, BUFT dropped -10.40% vs DBE's -86.69%.

Which ETF is better, BUFT or DBE?

On 3-year performance, DBE leads with 23.42% vs 9.94% for BUFT. On fees, DBE is cheaper at 0.78% per year. On volatility, BUFT has been the lower-risk option at 0.31%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFT or DBE?

Over the 3-year period, DBE has performed better with a 23.42% return vs 9.94%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFT or DBE?

DBE is cheaper with a 0.78% expense ratio, compared with 1.05% for BUFT.

Which ETF pays a higher dividend yield, BUFT or DBE?

DBE has the higher dividend yield at 2.10%, compared with 0.00% for BUFT.

What is the main difference between BUFT and DBE?

BUFT is categorized as Options Trading, while DBE is Oil & Gas. They also come from different issuers: FT Vest and Invesco. Their fees differ too: 1.05% for BUFT and 0.78% for DBE.

Which has better risk-adjusted returns?

BUFT currently has the higher Sharpe Ratio (3.49 vs 2.43), 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.