DAPR vs. BUFP

Last updated Jun 4, 2026

DAPR (FT Vest U.S. Equity Deep Buffer ETF - April) and BUFP (PGIM Laddered S&P 500 Buffer 12 ETF) are both Defined Outcome funds tracking the S&P 500, from FT Vest and PGIM respectively. Both are passively managed. Over the past year, DAPR returned 10.07% vs 17.24% for BUFP. Their correlation of 0.85 suggests significant overlap in exposure. DAPR charges 0.85%/yr vs 0.50%/yr for BUFP.

Performance

DAPR vs. BUFP - 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 PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). 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 BUFP's 6.23% return.

DAPR

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

BUFP

• 1D: -0.22%
• 1M: 2.04%
• YTD: 6.23%
• 6M: 7.00%
• 1Y: 17.24%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DAPR vs. BUFP - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DAPR FT Vest U.S. Equity Deep Buffer ETF - April	4.04%	5.74%	5.76%
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	6.23%	12.92%	6.36%

Correlation

The correlation between DAPR and BUFP is 0.79, 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	0.79
Correlation (All Time) Calculated using the full available price history since Jun 14, 2024	0.85

The correlation between DAPR and BUFP has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.

DAPR vs. BUFP - Sectors Allocation Comparison

Sectors	DAPR	BUFP
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. BUFP — 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

BUFP

BUFP Risk / Return Rank: 86
BUFP Sharpe Ratio Rank: 84
BUFP Sortino Ratio Rank: 89
BUFP Omega Ratio Rank: 89
BUFP Calmar Ratio Rank: 77
BUFP Martin Ratio Rank: 91

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. BUFP - 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 PGIM Laddered S&P 500 Buffer 12 ETF (BUFP). 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	BUFP	Difference
Sharpe ratio: Return per unit of total volatility	3.66	2.77	+0.89
Sortino ratio: Return per unit of downside risk	5.98	4.12	+1.85
Omega ratio: Gain probability vs. loss probability	1.81	1.58	+0.23
Calmar ratio: Return relative to maximum drawdown	11.99	3.93	+8.06
Martin ratio: Return relative to average drawdown	59.41	21.96	+37.45
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. BUFP - Sharpe Ratio Comparison

The current DAPR Sharpe Ratio is 3.66, which is higher than the BUFP Sharpe Ratio of 2.77. The chart below compares the historical Sharpe Ratios of DAPR and BUFP, 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	BUFP	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.66	2.77	+0.89
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.76	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.77	1.40	-0.63

Drawdowns

DAPR vs. BUFP - Drawdown Comparison

The maximum DAPR drawdown since its inception was -10.51%, smaller than the maximum BUFP drawdown of -11.98%. Use the drawdown chart below to compare losses from any high point for DAPR and BUFP.

Drawdown Indicators

	DAPR	BUFP	Difference
Max Drawdown Largest peak-to-trough decline	-10.51%	-11.98%	+1.47%
Max Drawdown (1Y) Largest decline over 1 year	-0.84%	-4.41%	+3.57%
Max Drawdown (3Y) Largest decline over 3 years	-10.51%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-10.51%	—	—
Current Drawdown Current decline from peak	-0.12%	-0.22%	+0.10%
Average Drawdown Average peak-to-trough decline	-2.30%	-1.00%	-1.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.17%	0.79%	-0.62%

Volatility

DAPR vs. BUFP - Volatility Comparison

FT Vest U.S. Equity Deep Buffer ETF - April (DAPR) has a higher volatility of 1.03% compared to PGIM Laddered S&P 500 Buffer 12 ETF (BUFP) at 0.95%. This indicates that DAPR's price experiences larger fluctuations and is considered to be riskier than BUFP based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DAPR	BUFP	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.03%	0.95%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	1.88%	4.82%	-2.94%
Volatility (1Y) Calculated over the trailing 1-year period	2.78%	6.27%	-3.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.21%	9.49%	-1.28%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.16%	9.49%	-1.33%

DAPR vs. BUFP - Expense Ratio Comparison

DAPR has a 0.85% expense ratio, which is higher than BUFP's 0.50% expense ratio.

Dividends

DAPR vs. BUFP - Dividend Comparison

DAPR has not paid dividends to shareholders, while BUFP's dividend yield for the trailing twelve months is around 0.01%.

Position	TTM	2025	2024
BUFP PGIM Laddered S&P 500 Buffer 12 ETF	0.01%	0.01%	0.02%
DAPR FT Vest U.S. Equity Deep Buffer ETF - April	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both DAPR and BUFP in my portfolio?

DAPR and BUFP have a correlation of 0.79, 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 BUFP?

DAPR has higher volatility (1.03%) compared to BUFP (0.95%). In terms of maximum drawdown, DAPR dropped -10.51% vs BUFP's -11.98%.

Which ETF is better, DAPR or BUFP?

On 1-year performance, BUFP leads with 17.24% vs 10.07% for DAPR. On fees, BUFP is cheaper at 0.50% per year. Their volatility is very similar. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DAPR or BUFP?

Over the 1-year period, BUFP has performed better with a 17.24% return vs 10.07%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DAPR or BUFP?

BUFP is cheaper with a 0.50% expense ratio, compared with 0.85% for DAPR.

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

BUFP has the higher dividend yield at 0.01%, compared with 0.00% for DAPR.

What is the main difference between DAPR and BUFP?

Both ETFs track S&P 500. They also come from different issuers: FT Vest and PGIM. Their fees differ too: 0.85% for DAPR and 0.50% for BUFP.

Which has better risk-adjusted returns?

DAPR currently has the higher Sharpe Ratio (3.66 vs 2.77), 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.