CZAR vs. BUFX

Last updated Jun 24, 2026

CZAR (Themes Natural Monopoly ETF) and BUFX (FT Vest Laddered Enhance & Moderate Buffer ETF) are both exchange-traded funds - CZAR is a Large Cap Blend Equities fund tracking the Solactive Natural Monopoly Index - Benchmark TR Gross, while BUFX is a Defined Outcome fund managed by First Trust. A 0.60 correlation means they provide meaningful diversification when combined. CZAR charges 0.35%/yr vs 0.96%/yr for BUFX.

Performance

CZAR vs. BUFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Themes Natural Monopoly ETF (CZAR) 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, CZAR achieves a -3.66% return, which is significantly lower than BUFX's 3.84% return.

CZAR

• 1D: -0.36%
• 1M: -3.86%
• YTD: -3.66%
• 6M: -3.68%
• 1Y: 0.92%
• 3Y*: —
• 5Y*: —
• 10Y*: —

BUFX

• 1D: -0.27%
• 1M: 0.09%
• YTD: 3.84%
• 6M: 3.89%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

CZAR vs. BUFX - Yearly Performance Comparison

	2026 (YTD)	2025
CZAR Themes Natural Monopoly ETF	-3.66%	3.95%
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	3.84%	5.43%

Correlation

The correlation between CZAR and BUFX 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 (All Time) Calculated using the full available price history since Jun 25, 2025	0.60

Return for Risk

CZAR vs. BUFX — Risk / Return Rank

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

CZAR

CZAR Risk / Return Rank: 10
CZAR Sharpe Ratio Rank: 10
CZAR Sortino Ratio Rank: 9
CZAR Omega Ratio Rank: 9
CZAR Calmar Ratio Rank: 10
CZAR Martin Ratio Rank: 10

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.

CZAR vs. BUFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Themes Natural Monopoly ETF (CZAR) 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.

	CZAR	BUFX	Difference
Sharpe ratio: Return per unit of total volatility	0.08	—	—
Sortino ratio: Return per unit of downside risk	0.19	—	—
Omega ratio: Gain probability vs. loss probability	1.02	—	—
Calmar ratio: Return relative to maximum drawdown	0.10	—	—
Martin ratio: Return relative to average drawdown	0.29	—	—

Drawdowns

CZAR vs. BUFX - Drawdown Comparison

The maximum CZAR drawdown since its inception was -13.38%, which is greater than BUFX's maximum drawdown of -2.87%. Use the drawdown chart below to compare losses from any high point for CZAR and BUFX.

Drawdown Indicators

	CZAR	BUFX	Difference
Max Drawdown Largest peak-to-trough decline	-13.38%	-2.87%	-10.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.54%	—	—
Current Drawdown Current decline from peak	-6.32%	-0.59%	-5.73%
Average Drawdown Average peak-to-trough decline	-2.23%	-0.24%	-1.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.23%	—	—

Volatility

Volatility by Period

	CZAR	BUFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.88%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.96%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.13%	4.05%	+8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.98%	4.05%	+10.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.98%	4.05%	+10.93%

CZAR vs. BUFX - Expense Ratio Comparison

CZAR has a 0.35% expense ratio, which is lower than BUFX's 0.96% expense ratio.

Dividends

CZAR vs. BUFX - Dividend Comparison

CZAR's dividend yield for the trailing twelve months is around 1.53%, while BUFX has not paid dividends to shareholders.

Position	TTM	2025	2024
BUFX FT Vest Laddered Enhance & Moderate Buffer ETF	0.00%	0.00%	0.00%
CZAR Themes Natural Monopoly ETF	1.53%	1.47%	0.94%

Frequently Asked Questions

Can I hold both CZAR and BUFX in my portfolio?

CZAR and BUFX 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 ETF is better, CZAR or BUFX?

On fees, CZAR is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CZAR or BUFX?

CZAR is cheaper with a 0.35% expense ratio, compared with 0.96% for BUFX.

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

CZAR has the higher dividend yield at 1.53%, compared with 0.00% for BUFX.

What is the main difference between CZAR and BUFX?

CZAR is categorized as Large Cap Blend Equities, while BUFX is Defined Outcome. They also come from different issuers: Themes and First Trust. Their fees differ too: 0.35% for CZAR and 0.96% for BUFX.