BUFT vs. XMAR

Last updated Jul 18, 2026

BUFT (FT Cboe Vest Buffered Allocation Defensive ETF) and XMAR (FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March) are both Options Trading funds from FT Vest. Both are actively managed. Over the past 3 years, BUFT returned 8.96%/yr vs 10.56%/yr for XMAR. A 0.75 correlation means they provide meaningful diversification when combined. BUFT charges 1.05%/yr vs 0.85%/yr for XMAR.

Performance

BUFT vs. XMAR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest Buffered Allocation Defensive ETF (BUFT) and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BUFT achieves a 5.41% return, which is significantly lower than XMAR's 7.15% return.

BUFT

• 1D: -0.13%
• 1M: 0.06%
• 6M: 5.17%
• YTD: 5.41%
• 1Y: 9.54%
• 3Y*: 8.96%
• 5Y*: —
• 10Y*: —

XMAR

• 1D: -0.17%
• 1M: 0.67%
• 6M: 6.82%
• YTD: 7.15%
• 1Y: 11.28%
• 3Y*: 10.56%
• 5Y*: —
• 10Y*: —

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

BUFT vs. XMAR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BUFT FT Cboe Vest Buffered Allocation Defensive ETF	5.41%	9.67%	7.72%	12.03%
XMAR FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March	7.15%	10.30%	10.10%	10.71%

Correlation

The correlation between BUFT and XMAR is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (All Time) Calculated using the full available price history since Mar 20, 2023	0.75

The correlation between BUFT and XMAR has been stable across timeframes, ranging from 0.74 to 0.80 - a consistent structural relationship.

Return for Risk

BUFT vs. XMAR — Risk / Return Rank

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

BUFT

BUFT Risk / Return Rank: 96
BUFT Sharpe Ratio Rank: 95
BUFT Sortino Ratio Rank: 96
BUFT Omega Ratio Rank: 97
BUFT Calmar Ratio Rank: 93
BUFT Martin Ratio Rank: 98

XMAR

XMAR Risk / Return Rank: 98
XMAR Sharpe Ratio Rank: 97
XMAR Sortino Ratio Rank: 98
XMAR Omega Ratio Rank: 98
XMAR Calmar Ratio Rank: 97
XMAR Martin Ratio Rank: 98

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. XMAR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Buffered Allocation Defensive ETF (BUFT) and FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR). 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.

	BUFT	XMAR	Difference
Sharpe ratio: Return per unit of total volatility	2.92	3.72	-0.80
Sortino ratio: Return per unit of downside risk	4.86	6.25	-1.39
Omega ratio: Gain probability vs. loss probability	1.83	1.97	-0.15
Calmar ratio: Return relative to maximum drawdown	4.76	7.66	-2.91
Martin ratio: Return relative to average drawdown	39.19	51.73	-12.54

BUFT vs. XMAR - Sharpe Ratio Comparison

The current BUFT Sharpe Ratio is 2.92, which is comparable to the XMAR Sharpe Ratio of 3.72. The chart below compares the historical Sharpe Ratios of BUFT and XMAR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

BUFT vs. XMAR - Drawdown Comparison

The maximum BUFT drawdown since its inception was -10.40%, which is greater than XMAR's maximum drawdown of -7.29%. Use the drawdown chart below to compare losses from any high point for BUFT and XMAR.

Drawdown Indicators

	BUFT	XMAR	Difference
Max Drawdown Largest peak-to-trough decline	-10.40%	-7.29%	-3.11%
Max Drawdown (1Y) Largest decline over 1 year	-2.02%	-1.48%	-0.54%
Max Drawdown (3Y) Largest decline over 3 years	-7.97%	-7.29%	-0.68%
Current Drawdown Current decline from peak	-0.29%	-0.27%	-0.02%
Average Drawdown Average peak-to-trough decline	-2.08%	-0.30%	-1.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.24%	0.22%	+0.02%

Volatility

BUFT vs. XMAR - Volatility Comparison

The current volatility for FT Cboe Vest Buffered Allocation Defensive ETF (BUFT) is 0.76%, while FT Cboe Vest U.S. Equity Enhance & Moderate Buffer ETF - March (XMAR) has a volatility of 0.85%. This indicates that BUFT experiences smaller price fluctuations and is considered to be less risky than XMAR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFT	XMAR	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.76%	0.85%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	2.87%	2.67%	+0.20%
Volatility (1Y) Calculated over the trailing 1-year period	3.29%	3.05%	+0.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.86%	5.49%	+1.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.86%	5.49%	+1.37%

BUFT vs. XMAR - Expense Ratio Comparison

BUFT has a 1.05% expense ratio, which is higher than XMAR's 0.85% expense ratio.

Dividends

BUFT vs. XMAR - Dividend Comparison

Neither BUFT nor XMAR has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both BUFT and XMAR in my portfolio?

BUFT and XMAR have a correlation of 0.80, 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 XMAR?

XMAR has higher volatility (0.85%) compared to BUFT (0.76%). In terms of maximum drawdown, BUFT dropped -10.40% vs XMAR's -7.29%.

Which ETF is better, BUFT or XMAR?

On 3-year performance, XMAR leads with 10.56% vs 8.96% for BUFT. On fees, XMAR is cheaper at 0.85% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFT or XMAR?

Over the 3-year period, XMAR has performed better with a 10.56% return vs 8.96%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFT or XMAR?

XMAR is cheaper with a 0.85% expense ratio, compared with 1.05% for BUFT.

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

BUFT and XMAR have nearly identical dividend yields, around 0.00%.

What is the main difference between BUFT and XMAR?

Their fees differ too: 1.05% for BUFT and 0.85% for XMAR.

Which has better risk-adjusted returns?

XMAR currently has the higher Sharpe Ratio (3.72 vs 2.92), 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.