BUFZ vs. APRH

Last updated Jun 24, 2026

BUFZ (FT Cboe Vest Laddered Moderate Buffer ETF) and APRH (Innovator Premium Income 20 Barrier ETF - April) are both Options Trading funds. Both are actively managed. Over the past year, BUFZ returned 12.95% vs 7.29% for APRH. A 0.58 correlation means they provide meaningful diversification when combined. BUFZ charges 1.05%/yr vs 0.79%/yr for APRH.

Performance

BUFZ vs. APRH - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest Laddered Moderate Buffer ETF (BUFZ) and Innovator Premium Income 20 Barrier ETF - April (APRH). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with BUFZ having a 4.56% return and APRH slightly lower at 4.41%.

BUFZ

• 1D: -0.32%
• 1M: -0.04%
• YTD: 4.56%
• 6M: 4.48%
• 1Y: 12.95%
• 3Y*: —
• 5Y*: —
• 10Y*: —

APRH

• 1D: -0.10%
• 1M: 0.10%
• YTD: 4.41%
• 6M: 3.60%
• 1Y: 7.29%
• 3Y*: 7.11%
• 5Y*: —
• 10Y*: —

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

BUFZ vs. APRH - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
BUFZ FT Cboe Vest Laddered Moderate Buffer ETF	4.56%	11.05%	11.48%	8.75%
APRH Innovator Premium Income 20 Barrier ETF - April	4.41%	5.84%	6.91%	2.34%

Correlation

The correlation between BUFZ and APRH is 0.60, 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	0.60
Correlation (All Time) Calculated using the full available price history since Oct 26, 2023	0.58

The correlation between BUFZ and APRH has been stable across timeframes, ranging from 0.58 to 0.60 - a consistent structural relationship.

Return for Risk

BUFZ vs. APRH — Risk / Return Rank

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

BUFZ

BUFZ Risk / Return Rank: 86
BUFZ Sharpe Ratio Rank: 84
BUFZ Sortino Ratio Rank: 89
BUFZ Omega Ratio Rank: 89
BUFZ Calmar Ratio Rank: 78
BUFZ Martin Ratio Rank: 91

APRH

APRH Risk / Return Rank: 94
APRH Sharpe Ratio Rank: 93
APRH Sortino Ratio Rank: 95
APRH Omega Ratio Rank: 97
APRH Calmar Ratio Rank: 93
APRH Martin Ratio Rank: 92

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.

BUFZ vs. APRH - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest Laddered Moderate Buffer ETF (BUFZ) and Innovator Premium Income 20 Barrier ETF - April (APRH). 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.

	BUFZ	APRH	Difference
Sharpe ratio: Return per unit of total volatility	2.50	3.07	-0.56
Sortino ratio: Return per unit of downside risk	3.78	4.67	-0.89
Omega ratio: Gain probability vs. loss probability	1.51	1.85	-0.33
Calmar ratio: Return relative to maximum drawdown	3.71	6.04	-2.33
Martin ratio: Return relative to average drawdown	19.73	20.39	-0.66

BUFZ vs. APRH - Sharpe Ratio Comparison

The current BUFZ Sharpe Ratio is 2.50, which is comparable to the APRH Sharpe Ratio of 3.07. The chart below compares the historical Sharpe Ratios of BUFZ and APRH, 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

BUFZ vs. APRH - Drawdown Comparison

The maximum BUFZ drawdown since its inception was -10.14%, which is greater than APRH's maximum drawdown of -5.87%. Use the drawdown chart below to compare losses from any high point for BUFZ and APRH.

Drawdown Indicators

	BUFZ	APRH	Difference
Max Drawdown Largest peak-to-trough decline	-10.14%	-5.87%	-4.27%
Max Drawdown (1Y) Largest decline over 1 year	-3.51%	-1.21%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	—	-5.87%	—
Current Drawdown Current decline from peak	-0.64%	-0.29%	-0.35%
Average Drawdown Average peak-to-trough decline	-0.64%	-0.21%	-0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.66%	0.36%	+0.30%

Volatility

BUFZ vs. APRH - Volatility Comparison

FT Cboe Vest Laddered Moderate Buffer ETF (BUFZ) has a higher volatility of 1.54% compared to Innovator Premium Income 20 Barrier ETF - April (APRH) at 0.85%. This indicates that BUFZ's price experiences larger fluctuations and is considered to be riskier than APRH based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BUFZ	APRH	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.54%	0.85%	+0.69%
Volatility (6M) Calculated over the trailing 6-month period	4.22%	2.09%	+2.13%
Volatility (1Y) Calculated over the trailing 1-year period	5.22%	2.40%	+2.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.30%	4.53%	+2.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.30%	4.53%	+2.77%

BUFZ vs. APRH - Expense Ratio Comparison

BUFZ has a 1.05% expense ratio, which is higher than APRH's 0.79% expense ratio.

Dividends

BUFZ vs. APRH - Dividend Comparison

BUFZ has not paid dividends to shareholders, while APRH's dividend yield for the trailing twelve months is around 5.36%.

Position	TTM	2025	2024	2023
APRH Innovator Premium Income 20 Barrier ETF - April	5.36%	5.49%	6.87%	5.90%
BUFZ FT Cboe Vest Laddered Moderate Buffer ETF	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both BUFZ and APRH in my portfolio?

BUFZ and APRH have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BUFZ or APRH?

BUFZ has higher volatility (1.54%) compared to APRH (0.85%). In terms of maximum drawdown, BUFZ dropped -10.14% vs APRH's -5.87%.

Which ETF is better, BUFZ or APRH?

On 1-year performance, BUFZ leads with 12.95% vs 7.29% for APRH. On fees, APRH is cheaper at 0.79% per year. On volatility, APRH has been the lower-risk option at 0.85%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, BUFZ or APRH?

Over the 1-year period, BUFZ has performed better with a 12.95% return vs 7.29%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, BUFZ or APRH?

APRH is cheaper with a 0.79% expense ratio, compared with 1.05% for BUFZ.

Which ETF pays a higher dividend yield, BUFZ or APRH?

APRH has the higher dividend yield at 5.36%, compared with 0.00% for BUFZ.

What is the main difference between BUFZ and APRH?

They also come from different issuers: FT Vest and Innovator. Their fees differ too: 1.05% for BUFZ and 0.79% for APRH.

Which has better risk-adjusted returns?

APRH currently has the higher Sharpe Ratio (3.07 vs 2.50), 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.