BUFY vs. FDL

Last updated Jun 24, 2026

BUFY (FT Vest Laddered International Moderate Buffer ETF) and FDL (First Trust Morningstar Dividend Leaders Index Fund) are both exchange-traded funds - BUFY 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. BUFY is actively managed, while FDL is passively managed. Over the past year, BUFY returned 12.12% vs 22.39% for FDL. At a 0.34 correlation, their price movements are largely independent. BUFY charges 1.00%/yr vs 0.43%/yr for FDL.

Performance

BUFY vs. FDL - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest Laddered International Moderate Buffer ETF (BUFY) 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, BUFY achieves a 4.68% return, which is significantly lower than FDL's 12.67% return.

BUFY

• 1D: -0.82%
• 1M: 0.34%
• YTD: 4.68%
• 6M: 4.63%
• 1Y: 12.12%
• 3Y*: —
• 5Y*: —
• 10Y*: —

FDL

• 1D: 1.20%
• 1M: -2.75%
• YTD: 12.67%
• 6M: 13.02%
• 1Y: 22.39%
• 3Y*: 19.10%
• 5Y*: 13.08%
• 10Y*: 11.12%

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

BUFY vs. FDL - Yearly Performance Comparison

	2026 (YTD)	2025	2024
BUFY FT Vest Laddered International Moderate Buffer ETF	4.68%	18.22%	-7.01%
FDL First Trust Morningstar Dividend Leaders Index Fund	12.67%	14.79%	-0.65%

Correlation

The correlation between BUFY and FDL is 0.26, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.26
Correlation (All Time) Calculated using the full available price history since Sep 26, 2024	0.34

Return for Risk

BUFY vs. FDL — Risk / Return Rank

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

BUFY

BUFY Risk / Return Rank: 60
BUFY Sharpe Ratio Rank: 57
BUFY Sortino Ratio Rank: 59
BUFY Omega Ratio Rank: 61
BUFY Calmar Ratio Rank: 58
BUFY Martin Ratio Rank: 67

FDL

FDL Risk / Return Rank: 69
FDL Sharpe Ratio Rank: 61
FDL Sortino Ratio Rank: 68
FDL Omega Ratio Rank: 57
FDL Calmar Ratio Rank: 90
FDL Martin Ratio Rank: 69

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.

BUFY vs. FDL - Risk-Adjusted Trends Comparison

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

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.

	BUFY	FDL	Difference
Sharpe ratio: Return per unit of total volatility	1.75	1.95	-0.20
Sortino ratio: Return per unit of downside risk	2.54	2.96	-0.43
Omega ratio: Gain probability vs. loss probability	1.34	1.34	0.00
Calmar ratio: Return relative to maximum drawdown	2.62	5.26	-2.64
Martin ratio: Return relative to average drawdown	11.20	12.40	-1.19

BUFY vs. FDL - Sharpe Ratio Comparison

The current BUFY Sharpe Ratio is 1.75, which is comparable to the FDL Sharpe Ratio of 1.95. The chart below compares the historical Sharpe Ratios of BUFY 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.

Drawdowns

BUFY vs. FDL - Drawdown Comparison

The maximum BUFY drawdown since its inception was -8.01%, smaller than the maximum FDL drawdown of -65.93%. Use the drawdown chart below to compare losses from any high point for BUFY and FDL.

Drawdown Indicators

	BUFY	FDL	Difference
Max Drawdown Largest peak-to-trough decline	-8.01%	-65.93%	+57.92%
Max Drawdown (1Y) Largest decline over 1 year	-4.65%	-4.27%	-0.38%
Max Drawdown (3Y) Largest decline over 3 years	—	-12.24%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-16.46%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.40%	—
Current Drawdown Current decline from peak	-0.87%	-3.09%	+2.22%
Average Drawdown Average peak-to-trough decline	-1.66%	-9.64%	+7.98%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	1.81%	-0.73%

Volatility

BUFY vs. FDL - Volatility Comparison

The current volatility for FT Vest Laddered International Moderate Buffer ETF (BUFY) is 2.10%, while First Trust Morningstar Dividend Leaders Index Fund (FDL) has a volatility of 3.72%. This indicates that BUFY 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

	BUFY	FDL	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.10%	3.72%	-1.62%
Volatility (6M) Calculated over the trailing 6-month period	5.81%	8.09%	-2.28%
Volatility (1Y) Calculated over the trailing 1-year period	6.96%	11.54%	-4.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.50%	14.31%	-5.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.50%	17.11%	-8.61%

BUFY vs. FDL - Expense Ratio Comparison

BUFY has a 1.00% expense ratio, which is higher than FDL's 0.43% expense ratio.

Dividends

BUFY vs. FDL - Dividend Comparison

BUFY has not paid dividends to shareholders, while FDL's dividend yield for the trailing twelve months is around 3.70%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BUFY FT Vest Laddered International Moderate 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	3.70%	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 BUFY and FDL in my portfolio?

BUFY and FDL have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFY or FDL?

FDL has higher volatility (3.72%) compared to BUFY (2.10%). In terms of maximum drawdown, BUFY dropped -8.01% vs FDL's -65.93%.

Which ETF is better, BUFY or FDL?

On 1-year performance, FDL leads with 22.39% vs 12.12% for BUFY. On fees, FDL is cheaper at 0.43% per year. On volatility, BUFY has been the lower-risk option at 2.10%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFY or FDL?

Over the 1-year period, FDL has performed better with a 22.39% return vs 12.12%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFY or FDL?

FDL is cheaper with a 0.43% expense ratio, compared with 1.00% for BUFY.

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

FDL has the higher dividend yield at 3.70%, compared with 0.00% for BUFY.

What is the main difference between BUFY and FDL?

BUFY is categorized as Defined Outcome, while FDL is Large Cap Value Equities. Their fees differ too: 1.00% for BUFY and 0.43% for FDL.

Which has better risk-adjusted returns?

FDL currently has the higher Sharpe Ratio (1.95 vs 1.75), 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.