CVRD vs. BUFX

Last updated Jun 25, 2026

CVRD (Madison Covered Call ETF) and BUFX (FT Vest Laddered Enhance & Moderate Buffer ETF) are both exchange-traded funds - CVRD is a Large Cap Blend Equities fund actively managed by Madison, while BUFX is a Defined Outcome fund managed by First Trust. Over the past year, CVRD returned 3.08% vs 9.40% for BUFX. A 0.57 correlation means they provide meaningful diversification when combined. CVRD charges 0.90%/yr vs 0.96%/yr for BUFX.

Performance

CVRD vs. BUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Madison Covered Call ETF (CVRD) and FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CVRD achieves a -1.22% return, which is significantly lower than BUFX's 3.77% return.

CVRD

• 1D: -0.22%
• 1M: -4.41%
• YTD: -1.22%
• 6M: -1.31%
• 1Y: 3.08%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUFX

• 1D: -0.07%
• 1M: 0.02%
• YTD: 3.77%
• 6M: 3.59%
• 1Y: 9.40%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CVRD vs. BUFX - Yearly Performance Comparison

	2026 (YTD)	2025
CVRD Madison Covered Call ETF	-1.22%	4.35%
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	3.77%	5.43%

Correlation

The correlation between CVRD and BUFX is 0.57, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Jun 25, 2025	0.57

Return for Risk

CVRD vs. BUFX — Risk / Return Rank

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

CVRD

CVRD Risk / Return Rank: 14
CVRD Sharpe Ratio Rank: 14
CVRD Sortino Ratio Rank: 12
CVRD Omega Ratio Rank: 12
CVRD Calmar Ratio Rank: 16
CVRD Martin Ratio Rank: 17

BUFX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

CVRD vs. BUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Madison Covered Call ETF (CVRD) and FT Vest Laddered Enhance & Moderate Buffer ETF (BUFX). 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.

	CVRD	BUFX	Difference
Sharpe ratio: Return per unit of total volatility	0.32	—	—
Sortino ratio: Return per unit of downside risk	0.51	—	—
Omega ratio: Gain probability vs. loss probability	1.06	—	—
Calmar ratio: Return relative to maximum drawdown	0.54	—	—
Martin ratio: Return relative to average drawdown	1.57	—	—

Drawdowns

CVRD vs. BUFX - Drawdown Comparison

The maximum CVRD drawdown since its inception was -17.95%, which is greater than BUFX's maximum drawdown of -2.87%. Use the drawdown chart below to compare losses from any high point for CVRD and BUFX.

Drawdown Indicators

	CVRD	BUFX	Difference
Max Drawdown Largest peak-to-trough decline	-17.95%	-2.87%	-15.08%
Max Drawdown (1Y) Largest decline over 1 year	-5.72%	-2.87%	-2.85%
Current Drawdown Current decline from peak	-5.35%	-0.65%	-4.70%
Average Drawdown Average peak-to-trough decline	-2.02%	-0.25%	-1.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	—	—

Volatility

Volatility by Period

	CVRD	BUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.67%	—	—
Volatility (6M) Calculated over the trailing 6-month period	7.11%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	4.04%	+5.60%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.77%	4.04%	+7.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	11.77%	4.04%	+7.73%

CVRD vs. BUFX - Expense Ratio Comparison

CVRD has a 0.90% expense ratio, which is lower than BUFX's 0.96% expense ratio.

Dividends

CVRD vs. BUFX - Dividend Comparison

CVRD's dividend yield for the trailing twelve months is around 7.85%, while BUFX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	0.00%	0.00%	0.00%	0.00%
CVRD Madison Covered Call ETF	7.85%	7.63%	15.70%	1.50%

Frequently Asked Questions

Can I hold both CVRD and BUFX in my portfolio?

CVRD and BUFX have a correlation of 0.57, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CVRD or BUFX?

On 1-year performance, BUFX leads with 9.40% vs 3.08% for CVRD. On fees, CVRD is cheaper at 0.90% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, CVRD or BUFX?

Over the 1-year period, BUFX has performed better with a 9.40% return vs 3.08%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, CVRD or BUFX?

CVRD is cheaper with a 0.90% expense ratio, compared with 0.96% for BUFX.

Which ETF pays a higher dividend yield, CVRD or BUFX?

CVRD has the higher dividend yield at 7.85%, compared with 0.00% for BUFX.

What is the main difference between CVRD and BUFX?

CVRD is categorized as Large Cap Blend Equities, while BUFX is Defined Outcome. They also come from different issuers: Madison and First Trust. Their fees differ too: 0.90% for CVRD and 0.96% for BUFX.