DAPR vs. BUFD

Last updated Jun 4, 2026

DAPR (FT Vest U.S. Equity Deep Buffer ETF - April) and BUFD (FT Vest Laddered Deep Buffer ETF) are both Defined Outcome funds from FT Vest. DAPR is passively managed, while BUFD is actively managed. Over the past 5 years, DAPR returned 6.20%/yr vs 7.62%/yr for BUFD. Their correlation of 0.83 suggests significant overlap in exposure. DAPR charges 0.85%/yr vs 0.95%/yr for BUFD.

Performance

DAPR vs. BUFD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Vest U.S. Equity Deep Buffer ETF - April (DAPR) and FT Vest Laddered Deep Buffer ETF (BUFD). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DAPR achieves a 4.04% return, which is significantly lower than BUFD's 5.08% return.

DAPR

• 1D: -0.12%
• 1M: 1.93%
• YTD: 4.04%
• 6M: 4.78%
• 1Y: 10.07%
• 3Y*: 10.83%
• 5Y*: 6.20%
• 10Y*: —

BUFD

• 1D: -0.08%
• 1M: 1.70%
• YTD: 5.08%
• 6M: 5.68%
• 1Y: 14.40%
• 3Y*: 12.09%
• 5Y*: 7.62%
• 10Y*: —

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

DAPR vs. BUFD - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
DAPR FT Vest U.S. Equity Deep Buffer ETF - April	4.04%	5.74%	14.99%	9.84%	-6.84%	5.34%
BUFD FT Vest Laddered Deep Buffer ETF	5.08%	10.66%	12.42%	15.40%	-7.70%	3.62%

Correlation

The correlation between DAPR and BUFD is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Apr 20, 2021	0.83

The correlation between DAPR and BUFD has been stable across timeframes, ranging from 0.77 to 0.83 - a consistent structural relationship.

DAPR vs. BUFD - Sectors Allocation Comparison

Sectors	DAPR	BUFD
Technology	36.2%	36.2%
Financial Services	11.9%	11.9%
Communication Services	10.9%	10.9%
Consumer Cyclical	10.1%	10.1%
Healthcare	8.4%	8.4%
Industrials	8.1%	8.1%
Consumer Defensive	4.9%	4.9%
Energy	3.5%	3.5%
Utilities	2.3%	2.3%
Real Estate	1.9%	1.9%
Basic Materials	1.8%	1.8%

Return for Risk

DAPR vs. BUFD — Risk / Return Rank

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

DAPR

DAPR Risk / Return Rank: 96
DAPR Sharpe Ratio Rank: 94
DAPR Sortino Ratio Rank: 97
DAPR Omega Ratio Rank: 96
DAPR Calmar Ratio Rank: 97
DAPR Martin Ratio Rank: 98

BUFD

BUFD Risk / Return Rank: 87
BUFD Sharpe Ratio Rank: 84
BUFD Sortino Ratio Rank: 91
BUFD Omega Ratio Rank: 89
BUFD Calmar Ratio Rank: 80
BUFD 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.

DAPR vs. BUFD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Vest U.S. Equity Deep Buffer ETF - April (DAPR) and FT Vest Laddered Deep Buffer ETF (BUFD). 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.

	DAPR	BUFD	Difference
Sharpe ratio: Return per unit of total volatility	3.66	2.79	+0.87
Sortino ratio: Return per unit of downside risk	5.98	4.32	+1.66
Omega ratio: Gain probability vs. loss probability	1.81	1.58	+0.23
Calmar ratio: Return relative to maximum drawdown	11.99	4.21	+7.78
Martin ratio: Return relative to average drawdown	59.41	22.97	+36.44
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

DAPR vs. BUFD - Sharpe Ratio Comparison

The current DAPR Sharpe Ratio is 3.66, which is higher than the BUFD Sharpe Ratio of 2.79. The chart below compares the historical Sharpe Ratios of DAPR and BUFD, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	DAPR	BUFD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.66	2.79	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	0.99	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.00	-0.23

Drawdowns

DAPR vs. BUFD - Drawdown Comparison

The maximum DAPR drawdown since its inception was -10.51%, roughly equal to the maximum BUFD drawdown of -10.75%. Use the drawdown chart below to compare losses from any high point for DAPR and BUFD.

Drawdown Indicators

	DAPR	BUFD	Difference
Max Drawdown Largest peak-to-trough decline	-10.51%	-10.75%	+0.24%
Max Drawdown (1Y) Largest decline over 1 year	-0.84%	-3.43%	+2.59%
Max Drawdown (3Y) Largest decline over 3 years	-10.51%	-10.15%	-0.36%
Max Drawdown (5Y) Largest decline over 5 years	-10.51%	-10.75%	+0.24%
Current Drawdown Current decline from peak	-0.12%	-0.15%	+0.03%
Average Drawdown Average peak-to-trough decline	-2.30%	-1.97%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	0.63%	-0.46%

Volatility

DAPR vs. BUFD - Volatility Comparison

FT Vest U.S. Equity Deep Buffer ETF - April (DAPR) has a higher volatility of 1.03% compared to FT Vest Laddered Deep Buffer ETF (BUFD) at 0.79%. This indicates that DAPR's price experiences larger fluctuations and is considered to be riskier than BUFD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPR	BUFD	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	0.79%	+0.24%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	3.94%	-2.06%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	5.19%	-2.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.21%	7.73%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.16%	7.55%	+0.61%

DAPR vs. BUFD - Expense Ratio Comparison

DAPR has a 0.85% expense ratio, which is lower than BUFD's 0.95% expense ratio.

Dividends

DAPR vs. BUFD - Dividend Comparison

Neither DAPR nor BUFD has paid dividends to shareholders.

Tickers have no history of dividend payments

Frequently Asked Questions

Can I hold both DAPR and BUFD in my portfolio?

DAPR and BUFD have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DAPR or BUFD?

DAPR has higher volatility (1.03%) compared to BUFD (0.79%). In terms of maximum drawdown, DAPR dropped -10.51% vs BUFD's -10.75%.

Which ETF is better, DAPR or BUFD?

On 5-year performance, BUFD leads with 7.62% vs 6.20% for DAPR. On fees, DAPR is cheaper at 0.85% per year. On volatility, BUFD has been the lower-risk option at 0.79%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPR or BUFD?

Over the 5-year period, BUFD has performed better with a 7.62% return vs 6.20%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPR or BUFD?

DAPR is cheaper with a 0.85% expense ratio, compared with 0.95% for BUFD.

Which ETF pays a higher dividend yield, DAPR or BUFD?

DAPR and BUFD have nearly identical dividend yields, around 0.00%.

What is the main difference between DAPR and BUFD?

Their fees differ too: 0.85% for DAPR and 0.95% for BUFD.

Which has better risk-adjusted returns?

DAPR currently has the higher Sharpe Ratio (3.66 vs 2.79), 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.